Tribe Property expects GTA revenue of $8.04M in H1 2025

Executive Summary

• Tribe Property Technologies Inc. reported preliminary unaudited revenue of $8.04 million for the Greater Toronto Area (GTA) for the first half of 2025, representing a 263% increase from $2.21 million in the same period of 2024.
• The growth is attributed to strategic acquisitions (Meritus Group Management and DMS Management) and organic expansion, with the GTA portfolio now accounting for approximately 50% of the company's total revenue.
• The company successfully onboarded five major developer projects in the GTA and five additional projects in surrounding areas (Mississauga, Kitchener, Guelph) using its proprietary software platforms, while actively pursuing further M&A opportunities.

Key Details

• H1 2025 GTA Revenue: $8.04 million (preliminary, unaudited).
• H1 2024 GTA Revenue: $2.21 million.
• Year-over-Year Growth: 263% increase in GTA revenue.
• Portfolio Size: Approximately 20,000 homes managed in the GTA region.
• Revenue Contribution: The GTA portfolio represents approximately 50% of Tribe's total revenue.
• Acquisitions: Growth driven by the acquisition of Meritus (late 2023) and DMS (mid-2024).
• Software Adoption: Onboarded 5 major developer projects in the GTA and 5 projects in Mississauga, Kitchener, and Guelph in H1 2025 using Tribe Home Pro and digital preconstruction tools.
• Future Outlook: Company expects additional growth in the GTA market throughout the remainder of 2025 and is actively pursuing further M&A opportunities.
• Financial Statement Status: Preliminary results are subject to change; final audited financial statements for the period ended June 30, 2025, are scheduled for release on August 28, 2025.

Notable Quotes

• "When we entered the GTA market in November, 2023, Tribe had zero property management presence in the area. In less than two years, we have grown to manage approximately 20,000 homes. This rapid growth reflects the strength and scalability of our solution, the successful integration of Meritus and DMS, and the dedication of our team. It demonstrates both the tremendous opportunity in the GTA and the broader potential of Tribe's technology-driven property management model across Canada." — Joseph Nakhla, Chief Executive Officer