Propel Reports Results for Q4 and Fiscal Year 2025

Propel Reports Results for Q4 and Fiscal Year 2025 Canada NewsWire TORONTO, March 2, 2026 TORONTO, March 2, 2026 /CNW/ - Propel Holdings Inc. ("Propel" or the "Company") (TSX: PRL), the fintech facilitating access to credit for underserved consumers, today reported financial results for the three months ended December 31, 2025 ("Q4 2025") and fiscal year ended December 31, 2025. All amounts are expressed in U.S. dollars unless otherwise stated. Financial and Operational Highlights for Q4 2025 and Fiscal Year 2025 (Shown in U.S. Dollars unless otherwise stated) Comparable metrics relative to Q4 2024 and fiscal year 2024, respectively Revenue: increased by 21% to $155.8 million in Q4 2025, and increased by 31% to $589.8 million for fiscal 2025, representing record performance for both periods Adjusted EBITDA1: decreased by 32% to $21.6 million in Q4 2025, and increased by 7% to $130.3 million for fiscal 2025, representing record performance for a twelve-month fiscal period Net Income: decreased by 49% to $5.9 million in Q4 2025, and increased by 28% to $59.5 million for fiscal 2025, representing record performance for a twelve-month fiscal period Adjusted Net Income1: decreased by 53% to $8.0 million in Q4 2025, and increased by 7% to $66.7 million for fiscal 2025, representing record performance for a twelve-month fiscal period Diluted EPS2: decreased by 51% to $0.14 (C$0.20) in Q4 2025, and increased by 15% to $1.41 (C$1.97) for fiscal 2025, representing record performance for a twelve-month fiscal period Adjusted Diluted EPS1,2: decreased by 55% to $0.19 (C$0.26) in Q4 2025, and decreased by 4% to $1.58 (C$2.21) for fiscal 2025 Return on Equity3: achieved 9% in Q4 2025 on an annualized basis compared to 27% in Q4 2024, and achieved 24% for fiscal 2025 compared to 36% for fiscal 2024 Adjusted Return on Equity1: achieved 12% in Q4 2025 on an annualized basis compared to 40% in Q4 2024, and achieved 27% for fiscal 2025 compared to 48% for fiscal 2024 Loans and Advances Receivable: increased by 23% in Q4 2025 to $459.8 million, a record ending balance Ending Combined Loan and Advance Balances ("CLAB")1: increased by 23% in Q4 2025 to $589.5 million, a record ending balance Dividend: paid a Q4 2025 dividend of C$0.21 per common share on December 4, 2025, representing an 8% increase to our Q3 2025 dividend Operating and Financial Targets The Company introduced its 2026 operating and financial targets to reflect the improved credit trajectory exiting Q4 2025, record ending balances, and strategic initiatives launching in Q1 2026 (see "2026 Operating and Financial Targets" later in this press release for further information). Ending CLAB1 Year-over-Year Growth: 18% - 24% Revenue: $725 - $775 million Adjusted EBITDA1: $152.5 - $177.5 million Net Income: $70 - $90 million Adjusted Net Income1: $80 - $100 million Return on Equity3: 24%+ Adjusted Return on Equity1: 28%+ Management Commentary "We delivered a strong full year in 2025, achieving record revenue, Total Originations Funded1 and Ending CLAB1, and ended the fourth quarter with record quarterly results across these same metrics. We also generated record full year Adjusted EBITDA1, net income and Adjusted Net Income1. In Q4, we maintained our tighter underwriting posture from Q3 while navigating a dynamic environment, including the protracted US government shutdown. As credit performance improved, we accelerated originations in December, exceeding the top end of our updated Ending CLAB1 guidance. That acceleration required upfront provisioning and incremental acquisition spend, which impacted Q4 profitability, while the related revenue will be earned over future periods. With credit trends having turned and a record ending CLAB1, we believe the temporary and prudent steps taken in Q4 has set the business up to enter 2026 positioned for strong growth and profitability. With the recent launch of Propel Bank and our partnership with Column on track to launch in the first quarter, we are expanding our geographic reach, enhancing our product capabilities and strengthening our partnership model. We believe these initiatives and the strengthened credit performance in Q1 have positioned us well for robust profitable growth in 2026 and beyond." said Clive Kinross, Chief Executive Officer. Discussion of Financial Results and Business Strategy Strong seasonal consumer demand and improved late-quarter credit performance in North America drove record quarterly Total Originations Funded1, Ending CLAB1 and revenue Macroeconomic pressures affecting our consumers in the third quarter persisted into the early fourth quarter, exacerbated by the longest federal government shutdown in US history which ended on November 12, 2025. As a result, Propel and its Bank Partners maintained a measured and prudent approach to growth, moderating origination activity early in the quarter. As credit performance trends improved, origination activity and portfolio growth accelerated meaningfully later in the quarter, particularly in December We and our Bank Partners achieved record quarterly new customer originations, while also achieving record originations from returning and existing customers, which represented 57% of Total Originations Funded1 in Q4 2025 Total Originations Funded1 increased by 26% year-over-year to a quarterly record of $220.9 million in Q4 2025, driving Ending CLAB1 to a record of $589.5 million, up 23% from Q4 2024 The record Ending CLAB1 drove the 21% year-over-year growth and record revenue of $155.8 million in Q4 2025. The Annualized Revenue Yield1 decreased to 109% in Q4 2025 from 113% in Q4 2024. The decline primarily reflects the timing impact of stronger origination volumes later in the quarter, particularly in December, which increased Ending CLAB1 without a corresponding full-quarter revenue contribution. A meaningful portion of revenue associated with these late-quarter originations will be earned in future periods, temporarily impacting the Annualized Revenue Yield1. Propel and its Bank Partners maintained a disciplined approach to underwriting across North America throughout the quarter, prioritizing portfolio quality amid continued macroeconomic pressure on lower-income consumers The credit performance softness that emerged in the third quarter extended into Q4, resulting in a provision for loan losses of 56% of revenue, was driven by macro economic dynamics, including the US federal government shutdown. In response, underwriting remained disciplined through most of Q4 with origination growth moderated and a greater emphasis placed on higher credit-quality and returning customers. As the quarter progressed, credit performance strengthened within targeted risk parameters, enabling reacceleration of originations in December. Based on current performance trends, management believes Q4 likely represented the peak level of provisioning. Performance in the UK exceeded expectations for the full year, with over 50% year-over-year revenue growth The UK business delivered record quarterly and full year revenue while maintaining strong credit performance, reflecting the strength of the integration, disciplined underwriting, and broadening distribution channels The business is well-positioned to accelerate this momentum in 2026 and beyond, as it expands the addressable market with new products and partnerships and continues to leverage Propel's best practices and infrastructure The Lending as a Service (LaaS) program delivered record revenue of $5.8 million in Q4 2025, up 97% year-over-year, reflecting continued expansion across existing bank partnerships and higher origination volumes Towards the end of the quarter, Propel increased commitments from existing purchasers, supporting higher origination capacity while maintaining disciplined credit performance With expanding capital commitments, increased geographic reach, and strong forward flow demand, the LaaS program is well positioned for continued growth in 2026 and beyond Propel advanced the next phase of its global growth strategy during the fourth quarter through the announcement of its partnership with Column and the regulatory approval of Propel Bank In November 2025, Propel announced a partnership with Column N.A. ("Column"), a nationally chartered US bank, to support the launch of Freshline, a new line of credit product for underserved US consumers Freshline, expected to launch before the end of Q1, is designed to address a new segment of the credit spectrum for Propel and will be offered in additional states, expanding Propel's addressable market On February 25, 2026, Propel announced a $60 million forward flow purchase agreement with funds managed by Mesirow Alternative Credit to support Freshline In December 2025, Propel announced the receipt of regulatory approval for Propel International Bank Inc. ("Propel Bank"), a wholly owned subsidiary of Propel. Propel Bank provides a regulated platform to support the potential diversification of products and services, enhance operational flexibility, and enable continued geographic expansion At launch, Propel Bank is expected to support lending and servicing activities across Propel's US programs and to complement the Company's existing bank partner and LaaS model Net income and Adjusted Net Income1 in Q4 2025 reflected a combination of operating factors and strategic investments, while increasing on a full-year basis driven by overall growth and the continued strength of the Company's core operations Fourth-quarter profitability was impacted by: i) higher credit costs, including higher provisioning and Net Charge-Offs1 reflecting macro-related performance trends that began in Q3 exacerbated by the US government shutdown; ii) significant late-quarter origination growth, which required upfront provisioning and higher acquisition and marketing spend without a corresponding full-period revenue contribution which elevated the provision ratio when measured as a percentage of revenue in the quarter; and iii) incremental start-up and infrastructure costs associated with the launch of the Column partnership and Propel Bank Overall, net income and Adjusted Net Income1 increased for the full year, supported by record revenue, growth in ending CLAB1, and the expanding contribution from the UK and LaaS program Strong consolidated financial position and continued earnings growth supports the continued expansion of existing programs, growth initiatives and an increase to our dividend The Company ended Q4 2025 with approximately $103 million of undrawn credit capacity on its various credit facilities with a Debt-to-Equity3 ratio of 1.3x The Debt-to-Equity3 ratio has remained the same as the end of Q4 2024, even with the 23% growth in Ending CLAB1 for the three month period ending December 31, 2025 The Company's strong financial position and continued earnings generation supported the decision to increase our quarterly dividend by 7% to C$0.225 per common share in Q1 2026 2026 Operating and Financial Targets The Company enters fiscal year 2026 with record Ending CLAB1, a strengthened portfolio, and improving credit performance following the actions taken throughout 2025 to navigate a dynamic macroeconomic environment. Full year profitability reflected disciplined underwriting and strategic investments made during the year to enhance portfolio resilience and expand platform capabilities. Management believes these actions have established a strong foundation for 2026, supported by healthy demand and credit performance entering the year, and multiple strategic initiatives now in place to support sustainable, profitable growth. The Company's 2026 operating and financial targets are supported by its strategy, which includes: (i) continued scaling of its core businesses in North America including product expansion and additional marketing channels; (ii) further growth in the UK through QuidMarket; (iii) the operationalization and expansion of new programs, including the launch of the Column partnership and Propel Bank, alongside the continued growth of the LaaS platform to serve a broader segment of the credit spectrum and additional geographies in the US market; and (iv) further investments in AI to drive efficiency in the business. As in prior years, the Company's targets do not assume the contribution of new business development initiatives, material regulatory changes beyond those previously disclosed, or acquisitions. Management believes these targets are based on reasonable assumptions given current market conditions and reflect a balanced approach to growth, profitability, and risk management. The Company's 2026 operating and financial targets are presented below. Operating and Financial Targets (US$) 2025A Result 2026 Target Ending Combined Loan and Advance Balances1 year over year growth 23 % 18% - 24% Revenue $590 million $725 - $775 million Adjusted EBITDA1 $130 million $152.5 - $177.5 million Net Income $60 million $70 - $90 million Adjusted Net Income1 $67 million $80 - $100 million Return on Equity3 24 % 24%+ Adjusted Return on Equity1 27 % 28%+ The operating and financial 2026 targets are based on management's current strategies and expectations and may be considered forward-looking information under applicable securities laws. Such targets are based on estimates and assumptions made by management regarding, among other things, the following: the regulatory landscape applicable to the Company's operations; the continued expansion of the Company's Bank Program relationships; the availability and cost of debt capital for the Company; the maintenance and expansion of the Company's marketing partnerships; and the macroeconomic environment in fiscal 2026 and its impact on the Company, including any potential impact from tariffs on our consumer segment. For a more detailed discussion on achieving the 2025 operating and financial targets, the 2026 operating and financial targets and the assumptions underpinning such targets, please refer to the Company's accompanying December 31, 2025 MD&A, which is available under the Company's profile on SEDAR+ at www.sedarplus.ca. The above operating and financial targets are based on growth in the Company's existing business lines, existing Bank Programs and recent strategic initiatives including the Column partnership and Propel Bank. Management currently believes that the achievement of the 2026 operating and financial targets described above can be reasonably estimated and are based on underlying assumptions that management believes are reasonable in the circumstances, given the time period for such targets. However, there can be no assurance that Propel will be able to meet such operating and financial targets. Notes: (1) See "Non-IFRS Financial Measures and Industry Metrics" and "Reconciliation of Non-IFRS Financial Measures" below. See also "Key Components of Results of Operations" in the accompanying Q4 2025 MD&A for further details concerning the non-IFRS financial measures and industry metrics used in this press release including definitions and reconciliations to the relevant reported IFRS measure. (2) Results converted from USD to CAD assuming an exchange rate of USD/CAD $1.3947 and USD/CAD $1.3978 for the three-month and twelve-month periods ending December 31, 2025. (3) See "Supplemental Financial Measures" in the accompanying Q4 2025 MD&A for further details concerning certain financial metrics used in this press release including definitions. Conference Call Details The Company will be hosting a conference call and webcast tomorrow morning with a presentation by Clive Kinross, Chief Executive Officer, and Sheldon Saidakovsky, Chief Financial Officer. Conference call details are as follows: Date:                               Tuesday, March 3, 2026 Time:                               8:30 a.m. EST Toll-free North America:  1-888-699-1199 Local Toronto:                 1-416-945-7677 Rapid Connect:               Click here Webcast:                         Click here  Replay:                           1-289-819-1450 or 1-888-660-6345 (PIN: 58846#) About Propel Propel Holdings (TSX: PRL) the fintech building a new world of financial opportunity for consumers, partners, and investors. Propel's operating brands -- Fora Credit, CreditFresh, MoneyKey and QuidMarket -- together with Propel Bank facilitate access to credit for consumers underserved by traditional financial institutions. Through its AI-powered platform, Propel evaluates customers in a more comprehensive way than traditional credit scores can. The result is better products and an expanded credit market for consumers while creating sustainable, profitable growth for Propel. The revolutionary fintech platform has already helped consumers access over one million loans and lines of credit and over two billion dollars in credit. At Propel, we are here to change the way customers, partners and investors succeed together. Learn more at propelholdings.com Non-IFRS Financial Measures and Industry Metrics This press release makes reference to certain non-IFRS financial measures and industry metrics. These measures are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management's perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. Such measures include "Adjusted Diluted EPS", "Adjusted EBITDA", "Adjusted EBITDA Margin", "Adjusted Net Income", "Adjusted Net Income Margin", "Adjusted Return on Equity", "EBITDA", "EBITDA Margin", "Ending CLAB", and "Total Originations Funded". This press release also includes references to industry metrics such as "Annualized Revenue Yield", "Return on Equity" and "Total Originations Funded" which are supplementary measures under applicable securities laws. These non-IFRS financial measures and industry metrics are used to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. We believe that securities analysts, investors and other interested parties frequently use non-IFRS financial measures and industry metrics in the evaluation of issuers. The Company's management also uses non-IFRS financial measures and industry metrics in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts, and to determine components of management and executive compensation. The key performance indicators used by the Company may be calculated in a manner different than similar key performance indicators used by other similar companies. Definitions and reconciliations of non-IFRS financial measures to the relevant reported measures can be found in our accompanying MD&A available on SEDAR+. Such reconciliations can also be found in this press release under the heading "Reconciliation of Non-IFRS Financial Measures" below. Forward-Looking Information Certain statements made in this press release may constitute forward-looking information under applicable securities laws. These statements may relate to our fiscal year 2026 operating and financial targets, our business development pipeline and our ability to expand our products, enter new markets, and enhance our partnerships, the strong demand from consumers we expect to see throughout 2026, our robust growth in 2026 and beyond, Quidmarket's expanded addressable market with new products and partnerships leveraging Propel's best practices and infrastructure, the anticipated launch of Freshline before the end of Q1, the continued scaling of our core business in North America, expansion and optimization of our bank-partner programs, our investments in AI to drive efficiency in our business, our ability to introduce the Propel brand to a growing number of consumers and grow our business. Often but not always, forward-looking statements can be identified by the use of forward-looking terminology such as "may", "will", "expect", "believe", "estimate", "plan", "could", "should", "would", "outlook", "forecast", "anticipate", "foresee", "continue" or the negative of these terms or variations of them or similar terminology. The fiscal year 2026 operating and financial targets provided above are based on management's current strategies and expectations and may be considered forward-looking information under applicable securities laws. Such targets are based on estimates and assumptions made by management regarding, among other things, the following: the regulatory landscape applicable to the Company's operations; the continued expansion of the Company's Bank Program relationships; the availability and cost of debt capital for the Company; the maintenance and expansion of the Company's marketing partnerships; and the macroeconomic environment in fiscal 2026 and its impact on the Company, including any potential impact from tariffs on our consumer segment. Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the factors discussed in the "Risk Factors" section of the Company's annual information form dated March 2, 2026 for the year ended December 31, 2025 (the "AIF"). A copy of the AIF and the Company's other publicly filed documents can be accessed under the Company's profile on SEDAR+ at www.sedarplus.ca. The Company cautions that the list of risk factors and uncertainties described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. The forward-looking information contained in this press release represents our expectations as of the date of this press release (or as the date they are otherwise stated to be made), and are subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws. Selected Financial Information Three months ended December 31, Year ended December 31, 2025 2024 2025 2024 (US$ other than percentages) Revenue 155,849,670 129,307,037 589,807,759 449,730,785 Provision for loan losses and other liabilities 87,998,912 65,582,578 296,862,147 222,495,877 Operating expenses Acquisition and data(1) 23,248,294 15,749,887 76,273,699 51,952,951 Salaries, wages and benefits 12,845,663 11,501,710 48,309,927 39,454,703 General and administrative 3,647,953 3,961,838 13,714,163 13,882,149 Processing, technology and program servicing 8,880,196 6,343,739 32,572,845 20,142,665 Total operating expenses 48,622,106 37,557,174 170,870,634 125,432,468 Operating income 19,228,652 26,167,285 122,074,978 101,802,440 Other (income) expenses Interest and fees on credit facilities 8,639,271 8,514,528 34,041,984 31,585,290 Interest expense on lease liabilities 230,773 65,828 693,621 265,482 Depreciation and amortization 2,470,896 1,732,843 9,009,247 5,480,545 Foreign exchange (gain) loss 269,150 275,067 550,053 457,554 Unrealized (gain) loss on derivative financial instruments (401,157) 896,192 (1,027,758) 1,403,607 Total other (income) expenses 11,208,933 11,484,458 43,267,147 39,192,478 Income before income tax 8,019,719 14,682,827 78,807,831 62,609,962 Income tax expense (recovery) Current 555,750 5,206,917 21,261,280 25,356,459 Deferred 1,526,990 (2,133,268) (1,973,748) (9,122,364) Net income for the period 5,936,979 11,609,178 59,520,299 46,375,867 Earnings per share ($USD): Basic 0.15 0.31 1.52 1.32 Diluted 0.14 0.29 1.41 1.22 Earnings per share ($CAD)(2): Basic 0.21 0.43 2.13 1.81 Diluted 0.20 0.40 1.97 1.67 Return on equity(3) 9 % 27 % 24 % 36 % Dividends: Dividends 5,910,007 4,132,444 21,020,481 13,985,253 Dividend per share 0.150 0.111 0.538 0.398 Notes: (1) Comparative figures have been updated to conform with current presentation. (2) Results converted from USD to CAD assuming an exchange rate of USD/CAD $1.3947 and USD/CAD $1.3978 for the three-month and twelve-month periods ending December 31, 2025, respectively, and assuming an exchange rate of USD/CAD $1.3982 and USD/CAD $1.3698 for the three-month and twelve-month periods ending December 31, 2024, respectively. (3) See "Supplemental Financial Measures" in the accompanying Q4 2025 MD&A for further details concerning certain financial metrics used in this press release including definitions. Reconciliation of Non-IFRS Financial Measures The following table provides a reconciliation of Propel's net income to EBITDA1 and Adjusted EBITDA1: Three months ended December 31, Year ended December 31, 2025 2024 2025 2024 (US$ other than percentages) Net Income 5,936,979 11,609,178 59,520,299 46,375,867 Interest and fees on credit facilities 8,639,271 8,514,528 34,041,984 31,585,290 Interest expense on lease liabilities 230,773 65,828 693,621 265,482 Depreciation and amortization 2,470,896 1,732,843 9,009,247 5,480,545 Income Tax Expense (Recovery) 2,082,740 3,073,649 19,287,532 16,234,095 EBITDA(1) 19,360,659 24,996,026 122,552,683 99,941,279 EBITDA(1) Margin 12 % 19 % 21 % 22 % Transaction costs -- 701,808 -- 3,221,649 Unrealized loss (gain) on derivative financial instruments (401,157) 896,192 (1,027,758) 1,403,607 Provision for credit losses on current status accounts(2) 2,640,062 4,481,049 5,106,608 11,993,619 Non-cash change in accounting estimate -- -- 1,357,245 -- Provisions for CSO Guarantee liabilities and Bank Service Program liabilities 22,933 851,509 2,349,224 4,783,304 Adjusted EBITDA (1) 21,622,497 31,926,584 130,338,002 121,343,458 Adjusted EBITDA(1) Margin 14 % 25 % 22 % 27 % Notes: (1) See "Non-IFRS Financial Measures and Industry Metrics". (2) Provision and change in accounting estimate adjustments included for (i) loan losses on good standing current principal (Stage 1 -- Performing) balances (see "Material Accounting Policies and Estimates -- Loans and advances receivable" in the accompanying Q4 2025 MD&A). The following table provides a reconciliation of Propel's Net Income to Adjusted Net Income1, Adjusted Return on Equity1 and Adjusted Net Income margin1: Three months ended December 31, Year ended December 31, 2025 2024 2025 2024 (US$ other than percentages) Net Income 5,936,979 11,609,178 59,520,299 46,375,867 Transaction costs net of taxes(2) -- 515,829 -- 2,367,912 Unrealized loss (gain) on derivative financial instruments, net of taxes(2) (294,850) 658,701 (755,402) 1,031,651 Amortization of internally developed software, customer relationships and brand, net of taxes(2) 360,787 240,525 1,443,148 240,525 Provision for credit losses on current status accounts net of taxes(2) 1,940,446 3,293,571 3,753,357 8,815,310 Non-cash change in accounting estimate, net of taxes(2)(3) -- -- 997,575 -- Provisions for CSO Guarantee liabilities and Bank Service Program liabilities net of taxes(2) 16,856 625,859 1,726,680 3,515,728 Adjusted Net Income(1) 7,960,218 16,943,663 66,685,657 62,346,993 Multiplied by number of periods in year x4 x4 x1 x1 Divided by average shareholders' equity for the period 260,674,252 169,109,776 244,722,312 129,028,416 Adjusted Return on Equity(1) 12 % 40 % 27 % 48 % Adjusted Net Income Margin(1) 5 % 13 % 11 % 14 % Notes: (1) See "Non-IFRS Financial Measures and Industry Metrics". (2) Each item is adjusted for after-tax impact, at an effective tax rate of 26.5% for the three and twelve-months ended December 31, 2025 and comparative 2024 periods. (3) Provision and change in accounting estimate adjustments included for (i) loan losses on good standing current principal (Stage 1 -- Performing) balances (see "Material Accounting Policies and Estimates -- Loans and advances receivable" in the accompanying Q4 2025 MD&A). The following table provides a reconciliation of Propel's Ending CLAB1 to loans and advances receivable: As at December 31, (US$ other than percentages) 2025 2024 Ending Combined Loan and Advance balances1 589,548,106 480,602,408 Less: Loan and Advance balances owned by third party lenders pursuant to CSO program (3,087,349) (5,892,783) Less: Loan and Advance balances owned by a NBFI pursuant to the MoneyKey Bank Service program (78,702,887) (56,360,814) Loan and Advance owned by the Company 507,757,870 418,348,811 Less: Allowance for Credit Losses (137,659,188) (111,227,713) Add: Fees and interest receivable 67,677,786 52,592,513 Add: Acquisition transaction costs 21,987,814 15,451,381 Loans and advances receivable 459,764,282 375,164,992 Note: (1) See "Non-IFRS Financial Measures and Industry Metrics". SOURCE Propel Holdings Inc. View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2026/02/c4933.html Contact: For further information, please contact: Lindsay Finneran-Gingras, Vice President, Communications, [email protected]; Devon Ghelani, Vice President, Capital Markets and Investor Relations, [email protected]