RESAAS SERVICES INC. REPORTS Q1 2026 FINANCIAL RESULTS
RESAAS SERVICES INC. REPORTS Q1 2026 FINANCIAL RESULTS |
| [28-May-2026] |
98% Year-Over-Year Revenue Growth; Company Achieves Net Income Profitability; Secures Two Landmark Global Enterprise Agreements VANCOUVER, BC, May 28, 2026 /CNW/ - RESAAS Services Inc. ("RESAAS" or "the Company") (TSXV: RSS) (OTCQB: RSASF), a technology company modernizing collaboration, payments, and data exchange across the global real estate industry, today announced its financial results for the first quarter ended March 31, 2026. The Company delivered a record revenue quarter on a year-over-year basis, achieved net profitability, and expanded its enterprise client roster with two globally recognized real estate brands, underscoring the growing commercial validation of its platform.
Q1 2026 FINANCIAL & OPERATIONAL HIGHLIGHTS
FINANCIAL RESULTS
Revenue Revenue for Q1 2026 was $302,470, an increase of $149,789, or approximately 98%, compared to $152,681 for Q1 2025. This growth was driven by an increase in recurring SaaS subscription revenue, promotional subscription revenue, CODE revenue, and enterprise referral platform revenue, including non-cash consideration measured at fair value in accordance with IFRS 15. On a trailing eight-quarter basis, Q1 2026 revenue of $302,470 is the Company's second-highest quarter on record, exceeded only by Q3 2025 ($346,382), and represents a 32% sequential increase over Q4 2025 ($229,131). The revenue trajectory reflects the compounding effect of new enterprise agreements and the Company's expanding recurring revenue base. Net Income and Path to Profitability The Company recorded net income of $8,627 for Q1 2026, compared to a net loss of $(69,045) in Q1 2025—a swing of $77,672. This marks the second consecutive profitable quarter (Q4 2025: $33,323 net income), demonstrating a sustained and meaningful inflection in operating performance. The improvement was primarily driven by the revenue increase of $149,789 and a $54,526 reduction in stock-based compensation, partially offset by a $108,237 increase in research and development investment to support platform expansion and new product initiatives. Cash Flow and Liquidity The Company generated positive operating cash flow of $6,593 for Q1 2026. The cash balance grew to $63,373 at quarter-end from $42,527 at December 31, 2025, an increase of $20,846, supported by collections of accounts receivable and continued revenue growth. Amounts receivable increased to $31,295 from $14,063 at year-end, reflecting the expansion of the Company's billing activity. Subsequent to the quarter, on April 20, 2026, the Company closed a $1,800,000 non-brokered private placement of common shares at $0.45 per share, completed in connection with a concurrent block trade to a single institutional investor. Net proceeds (after a $54,000 finder's fee) will be used to support ongoing operations, platform development, and growth initiatives. CORPORATE MILESTONES Savills Selects RESAAS — February 3, 2026 Savills, one of the world's leading real estate services providers with operations spanning over 70 countries and 600 offices, selected RESAAS to power its new global referral platform. This agreement represents a high-profile validation of RESAAS' enterprise referral technology and further establishes the Company's standing as the trusted platform of choice for globally integrated real estate organizations. Chestertons Selects RESAAS — March 31, 2026 Chestertons, an internationally recognized residential and commercial real estate brand operating across Europe, the Middle East, Africa, and Asia, selected RESAAS to power its global referral platform. The agreement expands RESAAS' presence among premium international brands and reinforces the Company's strategy of enabling cross-border collaboration and agent-to-agent referral activity at scale. Snowflake Integration for Enterprise Data — February 11, 2026 RESAAS announced the launch of a Snowflake integration, enabling enterprise customers to securely synchronize proprietary real estate data captured within the RESAAS platform directly into Snowflake's AI Data Cloud environment. This capability allows customers to combine RESAAS referral, transaction, and market intelligence data with their own internal datasets to support advanced analytics, business intelligence, and AI-driven decision-making — meaningfully increasing the strategic value of the RESAAS platform beyond transactional workflow automation. Director of Data Strategy Appointed — March 12, 2026 RESAAS appointed Michael Dziekan as Director of Data Strategy. In this role, Dziekan will lead the expansion of RESAAS' global real estate data infrastructure, develop strategic data partnerships, and support the growth of data-driven products and services. This appointment positions the Company to accelerate its commercial real estate data exchange platform and deepen data monetization capabilities. Investor Relations Engagement — March 10, 2026 The Company engaged Oak Hill Financial for investor relations services to increase visibility within the investment community, strengthen shareholder communications, and support broader capital markets awareness initiatives. This engagement reflects management's commitment to enhancing the Company's market profile as RESAAS enters a new phase of enterprise growth. MANAGEMENT COMMENTARY "Q1 2026 was a landmark quarter for the Company. RESAAS nearly doubled revenue year-over-year, delivered back-to-back profitable quarters, and secured agreements with two world-class enterprise clients, Savills and Chestertons, who together operate across dozens of countries and thousands of agents. These partnerships are not simply additive to our revenue base; they are strong endorsements of our platform's capability to serve the world's leading real estate organizations," said Tom Rossiter, CEO of RESAAS. "RESAAS's continual investment in platform infrastructure, data capabilities, and new Snowflake integration is laying the groundwork for meaningful scalability and margin expansion as the Company grows. With over $1.8 million in new capital raised post-quarter, we are well-positioned to execute on our growth agenda." STRATEGIC OUTLOOK RESAAS enters the balance of 2026 with a growing roster of global enterprise clients, a differentiated and expanding technology platform, and a strengthened balance sheet following the April 2026 private placement. The Company believes its three-pillar strategy — enterprise referral technology, purpose-built payment infrastructure through RESAAS Pay, and commercial real estate data exchange — provides multiple pathways to long-term revenue growth, platform scalability, and operating leverage. Key growth drivers anticipated for 2026 and beyond include:
About RESAAS Services Inc. RESAAS Services Inc. (TSX-V: RSS) (OTC: RSASF) is a technology company focused on modernizing collaboration, payments, and data exchange across the global real estate industry. The Company's enterprise platform connects real estate organizations, brokerages, agents, research teams, and institutional participants through technology solutions that facilitate trusted communication, the movement of funds, and the secure exchange of industry data. RESAAS serves global enterprise clients and is advancing payment infrastructure and commercial real estate data exchange capabilities designed to create additional long-term value for the real estate ecosystem. For more information, please visit www.resaas.com. Disclaimer The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from RESAAS Services Inc.'s expectations and projections. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements relating to anticipated revenue growth, platform scalability, margin expansion, product development timelines, customer adoption, and strategic opportunities. Such statements reflect the Company's current expectations based on available information and assumptions believed to be reasonable, but are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied. These risks include, but are not limited to, the ability to generate sufficient revenue, secure additional financing, retain key customers, and execute on the Company's business plan. Readers are cautioned not to place undue reliance on forward-looking statements. RESAAS does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Additional risk factors are described in the Company's filings available on SEDAR at www.sedar.com. SOURCE RESAAS Services Inc. | ||||||||||||||||||||||||
Company Codes: TorontoVE:RSS,OTC-PINK:RSASF,OTC-BB:RSASF |
