Q1 FY27: Returns to profit on 26% revenue growth, $1.39B M&A spend, buyback

Filed June 4, 2026 · Period ending April 30, 2026 · Compared to 10-Q Jun 4, 2025 · ~1 min read

Key Changes

• high

  Net income of $27.8M (2% margin) vs. $110.2M loss in Q1 FY26, driven by operating leverage, lower July 19 Incident costs ($20.5M reduction), and $36.4M higher investment gains.

  MD&A: Financial Results verify on EDGAR →
• high

  Changed commission amortization estimate from 4 to 5 years, reducing Q1 FY27 sales expense by $27.9M—a material benefit to operating margins.

  MD&A: Commission Estimate Change verify on EDGAR →
• high

  Spent $881.4M on Seraphic and SGNL acquisitions in Q1 FY27, signaling aggressive platform expansion; repurchased $175.6M of stock, a new capital allocation activity.

  MD&A: Cash Flows verify on EDGAR →