Additional financial information

12 Months Ended

Dec. 31, 2024

(a)Statements of income (loss) and comprehensive income (loss)

During the year ended December 31, 2024, two clients each accounted for more than 10% of our revenues, while during the years ended December 31, 2023 and 2022, three clients each accounted for more than 10% of our revenues. TELUS, our controlling shareholder and largest client, accounted for approximately 24.7%, 20.6% and 15.8% of our revenue for the years ended December 31, 2024, 2023 and 2022, respectively. Our second largest client for the years ended December 31, 2024 and 2023, and third largest client for the year ended December 31, 2022, Google, accounted for approximately 14.3%, 13.1% and 10.9% of our revenue for the years ended December 31, 2024, 2023 and 2022, respectively. Our third largest client for the year ended December 31, 2023 and second largest client for the year ended December 31, 2022, a leading social media company, accounted for approximately 11.2% and 14.4% of our revenue for the years ended December 31, 2023 and 2022, respectively.

(b)Statements of financial position


As at December 31 (millions)	2024		2023







Other long-term assets
Lease deposits	$	15	$	12
Prepaid software and maintenance costs	6		6
Other	5		7
	$	26	$	25
Accounts payable and accrued liabilities
Trade accounts payable	$	36	$	37
Accrued liabilities	102		103
Payroll and other employee-related liabilities	159		135
Advance billings	12		4
Other	12		11
	$	321	$	290

(c)Statements of cash flows—operating activities and investing activities


Years Ended December 31 (millions)	2024		2023		2022
Net change in non-cash operating working capital
Accounts receivable	$	18	$	3	$	(26)
Due from and to affiliated companies, net	96		86		17
Prepaid expenses	(8)		—		6
Other long-term assets	(1)		2		6
Accounts payable and accrued liabilities	42		(45)		(27)
Income and other taxes receivable and payable, net	1		(2)		(1)

Provisions	7		2		—
Other long-term liabilities	11		(3)		(1)
	$	166	$	43	$	(26)
Cash payments for capital assets
Capital asset additions
Capital expenditures
Property, plant and equipment, excluding right-of-use assets	$	(72)	$	(79)	$	(92)
Intangible assets	(32)		(14)		(12)
	(104)		(93)		(104)
Change in associated non-cash investing working capital	(1)		4		(1)
	$	(105)	$	(89)	$	(105)

(d) Changes in liabilities arising from financing activities


			Statements of cash flows				Non-cash changes
Year Ended December 31, 2024 (millions)	Beginning of year		Issued or received		Redemptions, repayments or payments		Foreign exchange movement		Other		End of year
Long-term debt
Credit facility	$	1,463	$	295	$	(474)	$	—	$	—	$	1,284

Lease liabilities	298		—		(89)		(7)		47		249
Deferred debt transaction costs	(11)		—		—				3		(8)
	$	1,750	$	295	$	(563)	$	(7)	$	50	$	1,525


			Statements of cash flows				Non-cash changes
Year Ended December 31, 2023 (millions)	Beginning of year		Issued or received		Redemptions, repayments or payments		Foreign exchange movement		Other		End of year
Long-term debt
Credit facility	$	742	$	1,161	$	(440)	$	—	$	—	$	1,463
Debt assumed from acquisitions	—		—		(89)		—		89		$	—
Lease liabilities	236		—		(84)		9		137		298
Deferred debt transaction costs	(14)		—		—		—		3		(11)
	$	964	$	1,161	$	(613)	$	9	$	229	$	1,750


			Statements of cash flows				Non-cash changes
Year Ended December 31, 2022 (millions)	Beginning of year		Issued or received		Redemptions, repayments or payments		Foreign exchange movement		Other		End of year
Long-term debt
Credit facility	$	941	$	411	$	(610)	$	—	$	—	$	742
Lease liabilities	215		—		(72)		(7)		100		236
Deferred debt transaction costs	(8)		—		(8)		—		2		(14)
	$	1,148	$	411	$	(690)	$	(7)	$	102	$	964