Operator
Good day, and thank you for standing by. Welcome to the Quorum Information Technologies Third Quarter 2025 Results. [Operator Instructions] Please be advised that today’s conference is being recorded. I would now like to hand the conference over to your first speaker today, Maury Marks, President and CEO. Please go ahead.
Maury Marks
Founder, President, CEO & Director
Thank you, Marvin. Hello, everybody, and thank you for attending Quorum Information Technologies Q3 2025 Results Conference Call and concurrent webcast. Joining me is our Chief Financial Officer, Marilyn Bown. Quorum offers innovative and robust technology solutions and services to vehicle dealerships and original equipment manufacturers or OEMs across North America, offering 13 of the 25 most common categories of software solutions that automotive dealerships utilize, our uniquely integrated product suite of 13 essential solutions are used in whole or in part by approximately 1,400 leadership customers across North America. There is at least one Quorum software solution installed in 40% of the franchise automotive dealerships in Canada. I’m proud to say our team delivered another quarter of disciplined execution with its second consecutive quarter of cash EBITDA growth in Q3 2025, reflecting the success of our profitability improvement plan initiated in Q1 2025.
Cash EBITDA increased to $1.5 million in Q3 2025 from $1.4 million in Q2 and $1 million in Q1. Quorum also delivered 2% year-over-year organic growth in annualized recurring revenue. Q3 2025 was also an extremely exciting quarter, making an important milestone in our history as we announced the proposed acquisition of Quorum by an affiliate, the purchaser of Valsoft Corporation, Inc., or Valsoft. The purchaser will acquire all of the issued and outstanding common shares
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