Q1 revenue falls 3.6% to $79.7M; material weakness in IT controls disclosed

Filed May 11, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 15, 2025 · ~1 min read

Key Changes

• high

  Company disclosed a new material weakness in IT general controls (user access and program change management) affecting financial reporting. The weakness was first identified in Q4 2025 and remediation is in progress.

  MD&A: Internal Controls verify on EDGAR →
• high

  Operating cash flow surged to $32.9M from $9.6M year-over-year, driven by lower mortgage originations (reducing inventory cash) and higher net earnings, significantly improving liquidity.

  MD&A: Cash Flow verify on EDGAR →
• high

  Total revenues declined 3.6% to $79.7M in Q1 2026 from $82.7M in Q1 2025, driven by lower mortgage fee income and insurance premiums, partially offset by higher funeral home and cemetery sales.

  MD&A: Revenue verify on EDGAR →