Voxtur Analytics Corp. recently announced its financial results for the three months and year ended Dec. 31, 2023, Voxtur Analytics Corp. announced in a release.

“Despite facing challenges throughout 2023 with unprecedented increases in mortgage rates and management changes, we remain dedicated in our commitment to growth and resilience,” Voxtur Analytics Corp. CEO Gary Yeoman said in the release. “Our optimism is rooted in the belief that setbacks are merely steppingstones toward greater success. As we navigate these fluctuations, we’re doubling down on innovation, strategic initiatives, and unwavering dedication to decreasing our debt. With a clear vision and proactive measures in place, we are confident in our ability to adapt, thrive, and deliver long-term value to our stakeholders.”

On Nov. 1, 2023, Voxtur finalized the sale of its wholly owned appraisal management company (AMC) business. In accordance with international financial reporting standards, Voxtur has presented its AMC business as a discontinued operation for the year ended Dec. 31, 2023, resulting in the reporting of revenue and gross profit excluding discontinued operations for the three months and year ended Dec. 31, 2023, and 2022.

The disposal of the AMC business enabled Voxtur to repay the full balance of approximately $22 million term debt facilities and retain the remaining funds for working capital purposes.  Annual principal and interest savings related to the reduction of the debt balance will be approximately $8.2 million.