News Summary

Canadian tech companies Propel Holdings and Thinkific Labs have shown contrasting financial results for the first quarter of 2025. Toronto-based Propel, a digital lending platform, achieved a record Q1 revenue increase of 44% year-over-year to $138.9 million CAD, with net profit surging 79% to $23.5 million. This growth is attributed to strong demand from consumers neglected by traditional credit markets. Meanwhile, Vancouver’s Thinkific, an online course creation platform, reported a modest 12% revenue increase to $17.8 million and a shift from a $1.1-million loss to $400,000 in net income. Thinkific’s growth was driven by a rise in subscription-based annual recurring revenue and commerce revenue. Both companies remain optimistic about their future, with Propel focusing on credit market demands and Thinkific planning product launches and marketing campaigns.