Q2 2024 revenue of $30.4 million – an increase of $5.2 million, or 20.6%, over Q2 2023. This is the strongest Q2 revenue in SSC's history. Q2 2024 Adjusted EBITDA of $1.1 million ($0.06 per share) – an increase of $0.3 million, or 33%, over Q2 2023. REGINA, SK, May 21, 2024 /CNW/ - SSC Security Services Corp. ("SSC" or the "Company) (TSXV:SECU) (OTCQX:SECUF), a national provider of cyber, physical and electronic security services to commercial, industrial and public sector clients across Canada, is pleased to release its results for the second quarter of the 2024 fiscal year ended March 31, 2024. All figures are presented in Canadian dollars. "We have reached a couple of milestones this quarter with some of the strongest results in the history of the company. January to March is typically a slow period for the security industry, and our team generated record Q2 revenues while containing expenses allowing us to improve our adjusted EBITDA and overall profitability. I'm very proud of the hard work of our team this quarter and our continued progress in creating value for our shareholders", said Chairman and CEO Doug Emsley. Q2 2024 HIGHLIGHTS During the second quarter, which ended on March 31, 2024, revenue was the strongest in SSC's Q2 history at $30.4 million. This represents an increase of $5.2 million (20.6% organic growth) over the revenue recorded in the same period last year. This represents very strong results for what is typically a slower quarter for the Company. Adjusted EBITDA for the quarter was $1.1 million ($0.06 per share), up from $0.8 million ($0.04 per share) during the same quarter last year (33% increase over Q2 2023). During the quarter we paid $0.03 per share in dividends to shareholders and bought back 233,900 shares of the Company. We finished the quarter ended March 31, 2024 with: Cash and cash equivalents of $14.1 million (versus $9.8 million in Q1 2024); Working capital of $28.6 million (versus $27.8 million in Q1 2024); Further monetization of Legacy assets yielding a gain of $1.0 million during Q2 2024, and remaining Legacy assets of $6.8 million (versus $7.7 million in Q1 2024); Total shareholders' equity of $66.3 million (versus $66.9 million in Q1 2024); and No long-term debt. Key Performance Indicators for the quarter and previous comparable period are summarized below: Key Performance Indicators Quarter ended Six months ended March 31 March 31 2024 2023 2024 2023 Revenue 30,402 25,218 61,284 53,237 Cost of Sales 26,133 21,213 52,474 45,000 Gross Profit 4,269 4,005