Good day, and welcome to Quorum’s inaugural Investor Newsletter!
I am happy to be launching our new email newsletter where I’ll be providing you with information on how Quorum’s technology solutions and services address the needs of the broader automotive market, industry insights and a summary of recent Quorum news, activities and information on upcoming investor events.
Two months into 2021 our focus continues to be on providing automotive dealerships with software solutions that will support their businesses as they navigate through the COVID-19 environment and beyond.
Recent figures for Canada for February 2021 from DesRosiers Automotive Consulting Inc. show that new light vehicle sales were mixed across provinces and down overall by 9.9% versus February 2020.
With strict COVID-19 restrictions in place, dealerships are more focused on their digital retailing capabilities and attracting vehicle service work – making Quorum’s software and BDC solutions, and the return on investment (ROI) these solutions deliver – essential to their business.
To address this, we released two new products late in 2020:
- My Deal – allows consumers to buy a car online, and
- PowerLane – allows consumers to have a touchless and transparent service experience with a dealership.
Both of these new products are key elements of our 2021 strategic plan to increase our organic revenue growth rate.
- January 19 – we announced the re-platforming of data resources on Microsoft Azure to enable the future delivery of advanced analytics and artificial intelligence.
- January 20 – Quorum announced exciting new changes to our Board of Directors and senior leadership team as part of our One Quorum strategy.
- January 21 – we announced that we were launching a Windows Virtual Desktop pilot built on Microsoft Azure.
RECENT INVESTOR EVENTS
Small Cap Discoveries Forum Investor Presentation with Audience Q&A (January 21)
We made an investor presentation to the Small Cap Discoveries members’ investor forum hosted by Paul Andreola on January 21. This was an excellent opportunity to catch up with Paul and his listeners, some of which already owned Quorum stock.
Paul mentioned that Quorum has been on the Small Cap Discoveries watchlist for a while and I was happy to speak to Quorum’s growth plans and answer some excellent investor questions.
Richardson Wealth Management Investor Presentation (February 26)
We made an investor presentation to Richardson Wealth Management (retail investment advisors) and enjoyed the time they provided us to tell our story and answer their questions.
- April 21 – 2020 Year End Results Release We plan to release financial and operational results for the fourth quarter and year end 2020 after markets close on Wednesday, April 21, and will host a conference call with webcast on Thursday, April 22.
- May 26 – 2021 Q1 Quarterly Results Release We plan to release financial and operational results for the first quarter 2021 after markets close on Wednesday, May 26, and will host a conference call with webcast on Thursday, May 27.
We will be news releasing call-in and webcast access details closer to the dates of each these events. I’d also encourage you to follow us on LinkedIn for our latest news and updates.
As always, please don’t hesitate to reach out with any questions or feedback on our Investor Newsletter at any time.
Thanks again for your support and interest in Quorum.
President and CEO