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."
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1 Refer to Non-IFRS Measures section of this news release.
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
