Tribe Property Technologies Reports 20% Improvement in Adjusted EBITDA¹ in Q3-2025

Tribe Property Technologies Reports 20% Improvement in Adjusted EBITDA¹ in Q3-2025

• Tribe achieved revenue of $8.3 million in Q3-2025, while improving gross profit¹ to $3.7 million, up 23% from the same quarter last year.
• Tribe posted an Adjusted EBITDA¹ loss of $0.084 million in Q3-2025, an improvement of 20% compared to the same quarter last year.
• Gross profit percentage¹ was up to 47.1% in the third quarter of 2025, compared to a Gross profit percentage of 38.8% in the same quarter last year.

VANCOUVER, BC, Dec. 1, 2025 /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 third quarter for the three and nine months ended September 30, 2025. All amounts are stated in Canadian dollars on an as reported basis under IFRS (International Financial Reporting Standards) unless otherwise indicated.

Joseph Nakhla, Tribe's CEO, commented, "This quarter reflects the tangible progress we are making in strengthening our company. With the completion of our $5.75 million financing, we have reinforced our balance sheet and increased our financial flexibility to support growth initiatives, technology investments, and strategic acquisitions. During this period, we also launched a national conveyancing document platform providing owners, buyers, and realtors with instant access to certified strata and condo documents required for property transactions. These efforts demonstrate Tribe's ability to unlock potential new revenue streams, while reducing administrative workloads across Tribe's operations, as we remain committed to modernizing property management through technology and disciplined execution."

Scott Ullrich, Tribe's CFO, stated, "Our third-quarter results reflect continued improvement in our financial profile, with positive Adjusted EBITDA¹ of $ $196,814 for the nine months ended September 30, 2025. These results are the result of operational discipline and efficiency initiatives implemented over the past several quarters. As we continue to integrate our acquisitions and scale nationally, we expect continued financial performance and strengthened financial stability. Tribe remains focused on building a durable, profitable business with a clear path toward sustained adjusted EBITDA growth."

Q3-2025 Financial Highlights:

• Revenue: Tribe achieved revenue of $8.3 million in the third quarter 2025; in line with $8.3 million achieved in the third quarter of 2024. 
• Gross profit^[2]: Tribe achieved Gross profit of $3.7 million in the third quarter 2025; an increase of 23% compared to $3.0 million in the third quarter of 2024.  Gross profit percentage⁽²⁾ was 47.1% in the third quarter of 2025, compared to Gross profit percentage of 38.8% in the third quarter of 2024.
• Adjusted EBITDA^[1]: Tribe achieved Adjusted EBITDA loss of $0.084 million in the third quarter 2025; an improvement of 20% compared to an Adjusted EBITDA loss of $0.105 million in the third quarter of 2024. 

Q3-2025 Business Highlights:

• On July 7, 2025, the Company completed a best-efforts public offering of units of the Company, pursuant to which Tribe issued a total of 12,777,777 units, including the full exercise of an over-allotment option, at an issue price of $0.45 per unit for the aggregate gross proceeds of approximately $5,750,000. The net proceeds from the offering will be used to fund growth initiatives, technology investments, potential acquisitions, working capital, and vendor take-back repayments. The Company's CEO and then CFO both participated in the financing.
• On August 21, 2025, the Company announced strong preliminary growth in the Greater Toronto Area ("GTA"), with expected revenue of $8.04 million for the first six months of 2025, representing a 263% increase compared to $2.21 million in the same period of 2024. Since entering the GTA market in November 2023, Tribe has grown to manage approximately 20,000 homes through the acquisitions of Meritus Group Management and DMS Management, as well as organic expansion of its Toronto operations. The GTA portfolio now represents approximately 50% of Tribe's total revenue.
• On September 12, 2025, the Company appointed Scott Ullrich as Chief Financial Officer, replacing outgoing CFO Angelo Bartolini who transitioned into a strategic advisor role. Mr. Ullrich brings over 40 years of leadership experience across finance, property management, and real estate investment, and has been a key part of Tribe's growth since the 2021 acquisition of Gateway Property Management. His appointment strengthens Tribe's financial and operational leadership as the Company continues to scale nationally.
• On September 25, 2025, the Company launched its National Conveyancing Document Centre, a digital platform providing owners, buyers, and realtors with instant access to certified strata and condo documents required for property transactions. Following a successful regional pilot, the national rollout is expected to increase document-related revenue while reducing administrative workloads across Tribe's operations.

Events Subsequent to September 30, 2025:

• On October 8, 2025, the Company launched its Rental Investment Management Programs to help developers and private equity firms generate revenue from unsold condo inventory and address growing demand for rental housing in Canada. The initiative includes Rental Association Programs that pool rental income across units to stabilize returns, a Developer Rental Guarantee Program offering guaranteed first-year rental income, and a new Condo Conversion Consultation Service that supports clients in repositioning condo projects into rental developments.
• On November 5, 2025, the Company launched 'Tribe Home – Rental', a new digital platform designed to enhance tenant engagement and streamline operations for multi-family rental communities. As part of Tribe's expanding property technology ecosystem, the platform enables tenants to receive building updates, access documents, submit maintenance requests, book amenities, and access curated offers, while giving property managers modern tools for communications and request tracking.

Outlook:
Management remains confident that 2025 will conclude on a strong note for Tribe, with the momentum continuing into the beginning of 2026, with Company striving to drive revenue growth, expand margins, and improve profitability. The Company also expects to accelerate growth through new AI initiatives and strategic partnerships, while remaining resilient in the current higher interest rate environment. Tribe continues to leverage technology solutions to deliver meaningful benefits to clients. The Company's key goals for 2025 have remained as follows:

• Expanding AI capabilities: Integrate AI-driven tools into property management and digital services to improve efficiency, resident engagement, and data-driven decision-making.
• 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.
• Pursuing strategic acquisitions: Evaluate and execute acquisitions that are immediately accretive and complement Tribe's AI capabilities and national platform.
• Enhancing profitability: Continue implementing operational efficiencies and leveraging technology to improve gross margins and strengthen Tribe's Adjusted EBITDA profile.
• Innovating with technology: Invest in the Tribe software platform by adding functionality, expanding digital service offerings, and maintaining leadership in the property technology space.

Third Quarter 2025 Financial Results Webinar

The Company will hold a conference call and simultaneous webcast to discuss its results on December 1, 2025, 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.

Webinar Details:

Please connect 5 minutes prior to the conference call to ensure time for any software download that may be required.

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.

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 and nine months ended September 30, 2025, 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 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 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.