Earnings release
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Tribe Property Technologies Reports Q2 2026 Results, Highlights Recurring Revenue Growth and Continued Progress Toward Profitability Tribe achieved revenue of $8.3 million in Q2-2026, an increase of 3.0% compared to $8.1 million in Q2-2025. Software and Services recurring revenue increased 4.9% year-over-year, driven by continued platform adoption, customer retention, and demand for Tribe's recurring digital service offerings and integrated technology solutions. Tribe's Home Pro platform surpassed 1.5 million tracked deficiencies and warranty items across 300+ residential projects in Canada, strengthening its position in tech-enabled post-construction management. Subsequent to quarter-end, Tribe announced the appointment of Jerome Samuels as Chief Operating Officer, responsible for the Company's operational strategy and execution, scaling the organization, and reinforcing the Company's continued advancement of One Tribe OS and its national operating platform. VANCOUVER, BC , Aug. 25, 2026 /CNW/ -- Tribe Property Technologies Inc. (TSXV: TRBE) (OTCQB: TRPTF) (" Tribe " or the " Company "), a leading provider of technology-elevated property management solutions, today announces its financial results for the fiscal second quarter for the three months ended June 30, 2026. All amounts are stated in Canadian dollars on an as reported basis under IFRS (International Financial Reporting Standards) unless otherwise indicated. Tribe Property Technologies Logo Joseph Nakhla, Tribe's CEO commented, "Tribe continued to make important progress in the second quarter as we strengthen the foundation for our next phase of growth. The appointment of Jerome Samuels as Chief Operating Officer reflects our focus on building a more scalable, consistent, and technology-enabled operating platform. Jerome's experience in operations, customer experience, and organizational transformation will be instrumental as we continue integrating our national platform and advancing One Tribe OS. Alongside the continued adoption of Tribe Home and the expansion of Home Pro, we are focused on creating a more connected technology ecosystem that delivers greater value to our communities, residents, and property management partners." Scott Ullrich, Tribe's CFO, stated, "Our second quarter results reflect continued improvement in the underlying economics of the business, with gross profit increasing 3.6% to $3.5 million and gross margin expanding to 42.0%, while our net loss declined 22.4%, to $1.0 million. We are maintaining a disciplined approach to costs and capital allocation while continuing to identify opportunities to improve operating efficiency across our national platform. We remain focused on translating revenue growth and technology-driven efficiencies into stronger margins, improved Adjusted EBITDA performance, and sustainable cash flow generation as we continue to build toward profitability." Q2-2026 Financial Highlights: Revenue: Tribe achieved revenue of $8.3 million in the second quarter 2026; an increase of
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3.0% compared to $8.1 million achieved in the second quarter of 2025. Software and service fees were $6.9 million in Q2-2026, up 4.9% from $6.6 million in Q2-2025. Gross profit 2 : Tribe achieved Gross profit of $3.5 million in the second quarter 2026; an increase of 3.6% compared to $3.4 million in the second quarter of 2025. Gross profit percentage was 42.0% in the second quarter of 2026, compared to Gross profit percentage of 41.7% in the second quarter of 2025. Adjusted EBITDA 1 : Tribe reported an Adjusted EBITDA loss of $0.15 million in the second quarter 2026 compared to an Adjusted EBITDA loss of $0.04 million in the second quarter of 2025. Net loss: Tribe reported a net loss of $1.0 million in Q2-2026, a decrease of 22.4% compared to a net loss of $1.29 million in Q2-2025. Outlook: Management remains confident that the Company will continue building momentum through 2026 and into 2027, supported by ongoing operational execution, disciplined cost management, and continued integration of recently amalgamated acquisitions. The Company remains focused on driving revenue growth, expanding margins, and improving profitability, while advancing its technology-first strategy. Key priorities include: Innovating with AI capabilities: Integrate AI-driven tools into property management and digital services to improve efficiency, resident engagement, and data-driven decision-making. Enhancing profitability: Continue implementing operational efficiencies and leveraging technology to improve gross profits and strengthen Tribe's Adjusted EBITDA profile. Increasing Organic Revenue Growth: Expand recurring software and service revenues through increased adoption of Tribe Home, growth in managed communities, expanded Home Pro deployments, and deeper penetration of value-added products and services across Tribe's national platform. Pursuing strategic acquisitions: Evaluate and execute acquisitions that are immediately accretive and complement Tribe's AI capabilities and national platform. Building strategic partnerships: Leverage the Tribe platform to create curated offers and services that support the daily lifestyle needs of communities, highlighting collaborations with Canadian businesses and driving value for residents. Second Quarter 2026 Financial Results Webinar The Company will hold a conference call and simultaneous webcast to discuss its results on Tuesday, August 25, 2026, at 1:00 pm ET (10:00 am PT). The call will be hosted by Joseph Nakhla, Chief Executive Officer, and Scott Ullrich, Chief Financial Officer. Please dial-in 10 minutes prior to the start of the call. Related earnings release materials will be available on SEDAR profile at www.sedar.com and Tribe's website at https://tribetech.com/investors/ . Webinar Details: Date: Tuesday, August 25, 2026 Time: 1:00 pm ET (10:00 am PT). Webinar Registration: https://bit.ly/TRBE-Q2-26-Investor-Webinar Dial-in: +1 778 907 2071 (Vancouver local) +1 647 374 4685 (Toronto local) Meeting ID #: 886 9551 1765 Please connect 5 minutes prior to the conference call to ensure time for any software download that may be required.
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Non-IFRS Measures The following and preceding discussion of financial results includes reference to Gross Profit, Gross Profit Percentage and Adjusted EBITDA, which are all non-IFRS financial measures. Non-IFRS measures do not have a standardized meaning under IFRS, and therefore may not be comparable to similar measures presented by other issuers. Non-IFRS measures have limitations as analytical tools and should not be considered in isolation nor as a substitute for analysis of the Company's financial information reported under IFRS and should be read in conjunction with the consolidated financial statements for the periods indicated. (1) Non-IFRS measures: Adjusted EBITDA does not have a standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. We define Adjusted EBITDA attributed to shareholders as net income or loss excluding severance and acquisition costs, interest expense and finance costs, foreign exchange gains and losses, current and deferred income taxes, depreciation and amortization, stock-based compensation, fair value gains and losses on investments, and other expenses. We believe Adjusted EBITDA is a useful measure as it provides important and relevant information to our management about our operating and financial performance. Adjusted EBITDA also enables our management to assess our ability to generate operating cash flow to fund future working capital needs, and to support future growth. Excluding these items does not imply that they are non-recurring or not useful to investors. Investors should be cautioned that Adjusted EBITDA attributable to shareholders should not be construed as an alternative to net income (loss) or cash flows as determined under IFRS. (2) Non-IFRS measures: Gross profit and gross profit percentage do not have a standardized meaning under IFRS, and therefore may not be comparable to similar measures presented by other issuers. We define gross profit as revenue, excluding ancillary revenues, less cost of software and services and software licensing fees. Cost of software and services include direct costs of community managers, client accounting staff and accounting software, excluding client administration and other administrative applications. We define gross profit percentage as gross profit calculated as a percentage of revenues, excluding ancillary revenues. Gross profit and gross profit percentage should not be construed as an alternative for revenue or net loss in accordance with IFRS. We believe that gross profit and gross profit percentage are meaningful metrics in assessing our financial performance and operational efficiency. SELECTED QUARTERLY FINANCIAL INFORMATION The following table sets forth selected financial information of the results of operations for the three months ended June 30, 2026 and 2025 as follows: Three months ended Six months ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Revenue $ 8,345,263 $ 8,103,258 $ 16,559,161 $ 16,080,616 Cost of software and services and software licensing fees 4,840,581 4,720,443 9,425,867 9,225,647 Gross profit (1) 3,504,682 3,382,815 7,133,294 6,854,969 Operating expenses 4,333,882 4,334,702 8,663,693 8,285,785 Operating loss (829,200) (951,887) (1,530,399) (1,430,816) Other expenses (257,252) (398,081) (474,502) (754,561) Other income 33,328 12,714 43,297 194,524 Net loss before income taxes (1,053,124) (1,337,254) (1,961,604) (1,990,853) Income tax recovery 54,000 50,000 108,000 98,274 Net loss $ (999,124) $ (1,287,254) $ (1,853,604) $ (1,892,579) Basic and diluted loss per share $ (0.02) $ (0.04) $ (0.04) $ (0.05) Gross profit percentage (1) 42.0 % 41.7 % 43.1 % 42.6 % Adjusted EBITDA (2) $ (147,545) $ (41,089) $ (45,861) $ 281,311 Reconciliation of Net Loss to Adjusted EBITDA
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The following table sets forth the reconciliation of net loss to adjusted EBITDA for the three months ended June 30, 2026 and 2025: Three months ended Six months ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Net loss $ (999,124) $ (1,287,254) $ (1,853,604) $ (1,892,579) Depreciation 168,199 165,007 338,261 326,824 Amortization of intangible assets 512,557 498,871 1,024,666 992,962 Amortization of deferred financing asset - 24,858 - 49,716 Stock-based compensation 1,083 20,190 2,155 39,949 Fair value loss (gain) on investment (26,063) (8,885) (27,647) (5,665) Interest expense (1) 257,068 398,081 474,399 754,561 Interest income (7,265) (528) (15,645) (564) Foreign exchange loss (gain) - (10) (5) (34) Acquisition costs - 78,003 - 78,003 Severance costs - 78,593 62,533 78,593 Amalgamation costs - - 14,857 - Standby fees - 23 - 27 Fees for switching credit facility - - 30,397 - Fees for amendment of VTB - - 11,772 - Gain on termination of lease - - - (84,170) Legal fees for amendments to credit facility - 6,962 - 6,962 BNS credit facility amendment fee - 35,000 - 35,000 Income tax expense (recovery) (54,000) (50,000) (108,000) (98,274) Adjusted EBITDA $ (147,545) $ (41,089) $ (45,861) $ 281,311 Financial Statements and Management's Discussion & Analysis Please see the consolidated financial statements and related Management's Discussion & Analysis ("MD&A") for more details. The unaudited consolidated financial statements for the three months ended June 30, 2026, and related MD&A have been reviewed and approved by Tribe's Board of Directors. Tribe recognizes that most of its investors are now accessing corporate and financial information either through pushed news services, directly from www.tribetech.com or SEDAR+. Thus, Tribe has prepared this truncated news release to alert investors to its results and that a more detailed explanation and analysis is readily available in the MD&A. These reports have been filed on SEDAR+ at www.sedarplus.ca and posted at www.tribetech.com . "Joseph Nakhla" Chief Executive Officer 1606-1166 Alberni Street Vancouver, British Columbia V6E 3Z3 Phone: (604) 343-2601 Email: joseph.nakhla@tribetech.com About Tribe Property Technologies Tribe is a property technology company that is disrupting the traditional property management industry. As a rapidly growing tech-forward property management company, Tribe's integrated service-technology delivery model serves the needs of a much wider variety of stakeholders than traditional service providers. Tribe seeks to acquire highly accretive targets in the fragmented North American property management industry and transform these businesses through streamlining and digitization of operations. Tribe's platform decreases customer acquisition costs, increases retention, and allows for the addition of value-added products and services through the platform. Visit www.tribetech.com for more information. Cautionary Statement on Forward-Looking Information Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
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the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking information within the meaning of applicable Canadian securities laws regarding the Company and its business. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking information. Forward-looking information in this news release may relate to statements with respect to the aims and goals of the Company; financial projections; growth plans; future acquisitions by the Company; beliefs of the Company with respect to the independent owner-investors market; prospective benefits of the Company's platform; and other factors or information. Such information represents the Company's current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking information. The Company does not intend, and do not assume any obligation, to update forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations. SOURCE Tribe Property Technologies Inc. View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2026/25/c0191.html %SEDAR: 00044261E For further information: For more information, please contact: Scott Ullrich, Chief Financial Officer, Email: scott.ullrich@tribetech.com; Pardeep Sangha, Investor Relations, Email: ir@tribetech.com, Ph: 604-572-6392 CO: Tribe Property Technologies Inc. CNW 07:15e 25-AUG-26