Tribe Property Technologies Achieves 32% Revenue Growth in Q2-2025

Executive Summary

• Tribe Property Technologies reported Q2 2025 financial results showing 32% year-over-year revenue growth to $8.1 million and a significant improvement in Adjusted EBITDA, narrowing the loss to $0.04 million from $1.2 million in Q2 2024.
• The company completed the acquisition of Ace Agencies Ltd. on June 6, 2025, for approximately $1.06 million in shares plus potential earn-out shares, tripling its single-unit rental portfolio in the Fraser Valley and Greater Vancouver area.
• Subsequent to quarter-end, Tribe closed a $5.75 million equity financing in July 2025, issuing over 12.7 million units to fund growth initiatives, technology investments, and acquisitions.

Key Details

• Q2 2025 Financial Performance:
  • Revenue: $8.1 million (up 32% from $6.2 million in Q2 2024).
  • Gross Profit: $3.2 million (up 35% from $2.3 million in Q2 2024); Gross Profit Margin was 41.8%.
  • Adjusted EBITDA: Loss of $0.04 million (improved 97% from a loss of $1.2 million in Q2 2024).
  • Net Loss: $1.287 million for the three months ended June 30, 2025.
• Acquisition of Ace Agencies Ltd.:
  • Closed on June 6, 2025.
  • Consideration: 1,922,894 common shares at $0.55 per share ($1,057,692) plus up to $400,000 in potential earn-out shares (priced at 20-day VWAP, min $0.41).
  • Target Profile: Residential single-unit rental property management firm based in Abbotsford, BC.
  • Impact: Tripled Tribe's single-unit rental portfolio in the Fraser Valley and Greater Vancouver; manages approx. 900 single-family homes.
  • Target Financials: Generated over $1.4 million in unaudited revenue with positive EBITDA in 2024.
• Subsequent Financing (July 2025):
  • Completed best efforts public offering on July 7, 2025.
  • Gross Proceeds: ~$5.75 million.
  • Units Issued: 12,777,777 units (including full exercise of over-allotment).
  • Price: $0.45 per unit.
  • Warrant Terms: Each unit includes one-half of one warrant; each whole warrant allows purchase of one common share at $0.60 exercise price for 36 months.
  • Use of Proceeds: Growth initiatives, technology investments, potential acquisitions, working capital, and vendor take-back repayments.
• GTA Market Expansion:
  • Revenue in Greater Toronto Area (GTA) for first six months of 2025: $8.04 million (approx. 50% of total revenue).
  • This represents a 263% increase compared to $2.21 million in the same period of 2024.
  • GTA portfolio now manages approx. 20,000 homes via acquisitions (Meritus Group Management, DMS Management) and organic expansion.

Notable Quotes

• Joseph Nakhla, CEO: "Tribe delivered strong results in the second quarter of 2025, achieving revenue of $8.1 million, an increase of 32% compared the same period last year. The Company's growth was primarily driven by acquisitions. On June 6th, Tribe acquired Ace Agencies which tripled our single-unit rental portfolio in the Fraser Valley and Greater Vancouver area."
• Angelo Bartolini, President and CFO: "This quarter highlights Tribe's ability to drive operational improvements while maintaining a strong financial foundation. Market expansion combined with cost efficiencies have strengthened revenues and improved profitability, resulting in a significant improvement of 97% in Adjusted EBITDA, compared to the second quarter of 2024. The over-subscribed $5.75 million equity financing completed in July further strengthens our balance sheet, providing capital to support growth initiatives and invest in our technology platform and AI solutions."