Steady revenue growth and adjusted EBITDA margin* expansion

Four consecutive quarters of double-digit software Annual Recurring Revenue* (“ARR”) growth

TORONTO, Nov. 05, 2026 (GLOBE NEWSWIRE) -- Altus Group Limited (ʺAltus Group”, “Altus” or “the Company”) (TSX: AIF), a leading provider of commercial real estate (“CRE”) intelligence, announced today its financial and operating results for the third quarter ended September 30, 2026. The Company also announced that its Board of Directors approved the payment of a cash dividend of $0.15 per common share for the fourth quarter ending December 31, 2026.

“As we approach the end of 2026, the progress we’ve made across the business is increasingly evident in our results,” said Mike Gordon, CEO and Chair of Altus. “Software ARR has now grown at a double-digit rate for four consecutive quarters, margins continue to improve, and we’re seeing the benefits of the changes we’ve made to how we operate and go to market. At the same time, client interest in innovations like ARGUS Assist continues to build, while cross-sell is improving and down-sell and churn are moving in the right direction. With much of the transformation work we set out to accomplish now behind us, we’re ending the year as a more focused and efficient business; that’s a great set up heading into 2027.”

Selected Q3 2026 Information

All revenue, Adjusted EBITDA and Adjusted EBITDA margin results are for consolidated continuing operations¹.

*Denotes non-GAAP financial measure, non-GAAP ratio, capital management measure, and/or supplementary and other financial measures as defined in National Instrument 52-112 - Non-GAAP and Other Financial Measures Disclosure (“NI 52-112”). Please refer to the “Non-GAAP and Other Measures” section of this press release for further information.

1. All revenue, Adjusted EBITDA and Adjusted EBITDA margin figures are for consolidated continuing operations, which exclude the Appraisal and Development Advisory businesses that were moved into discontinued operations.

2. Organic Revenue, which excludes the contribution from the Valos acquisition and adjusts out the One11 divestiture from the comparative period, was 6.8% on a Constant Currency basis.

3. Net cash provided by operating activities, Free Cash Flow and Free Cash Flow per share are inclusive of net cash flows attributable to discontinued operations in both the current and prior periods.

Business Outlook

The Company introduced guidance for the fourth quarter of 2026 and narrowed its outlook for fiscal 2026 for continuing operations.

Notes: Revenue growth is presented in Constant Currency on an organic basis. Adjusted EBITDA margin expansion guidance is presented in Constant Currency for total Continuing Operations. Implied As Reported dollar ranges are presented for total Continuing Operations and have been refreshed based on September average foreign exchange rates (source: OANDA). Currency fluctuations may cause reported results to differ.

Recurring Revenue, which represents approximately 96% of total year to date revenue, is expected to be supported by the Company’s target growth algorithm, with approximately 80% of growth driven by volume and pricing and approximately 20% driven by new logos. Adjusted EBITDA margin expansion is expected to be driven primarily by improved operating efficiencies and disciplined expense management.

The Company is making substantial progress towards its mid-term financial target to exit 2027 as a Rule of 40 company at the consolidated level, as defined by the sum of revenue growth and Adjusted EBITDA margin.

Q4 2026 Dividend Payment

The Board approved the payment of a cash dividend of $0.15 per common share for the fourth quarter ending December 31, 2026. Payment will be made on January 15, 2027 to common shareholders of record as at December 31, 2026. Altus Group confirms that all dividends paid or deemed to be paid to its common shareholders qualify as ʺeligible dividendsʺ for purposes of subsection 89(14) of the Income Tax Act (Canada) and similar provincial and territorial legislation, unless indicated otherwise.

About Altus Group

Altus Group is a leading provider of commercial real estate (“CRE”) intelligence, anchored by ARGUS – the industry’s go-to software for valuation and performance analytics. For more than two decades, Altus has played a vital role in empowering CRE professionals with the analytics and trusted advice they need to make high-impact decisions with confidence. The world’s CRE leaders rely on our market-leading solutions and expertise to drive performance and manage risk. Our people around the world are driving meaningful impact in an industry undergoing unprecedented change – helping shape the cities where we live, work, and build thriving communities.

For more information about Altus (TSX: AIF) please visit www.altusgroup.com. 

Non-GAAP and Other Measures

Altus Group uses certain non-GAAP financial measures, non-GAAP ratios, capital management measures, and supplementary and other financial measures as defined in NI 52-112. These non-GAAP and other financial measures include Adjusted Earnings (Loss), Adjusted EBITDA, and Constant Currency; non-GAAP ratios such as Adjusted EPS and Free Cash Flow per share; capital management measures such as Free Cash Flow; and supplementary financial and other measures such as Adjusted EBITDA margin, Organic Revenue, Recurring Revenue, Software - Annual Recurring Revenue and VMS - Annual Recurring Revenue. Management believes that these measures may assist investors in assessing an investment in the Company’s shares as they provide additional insight into the Company’s performance. Readers are cautioned that they are not defined performance measures, and do not have any standardized meaning under IFRS and may differ from similar computations as reported by other similar entities and, accordingly, may not be comparable to financial measures as reported by those entities. These measures should not be considered in isolation or as a substitute for financial measures prepared in accordance with IFRS. Refer to the “Non-GAAP and Other Measures” section on Page 3 of the Management’s Discussion & Analysis dated November 5, 2026 for the three and nine months ended September 30, 2026 (the “MD&A”), which is incorporated by reference in this press release and which is available on SEDAR+ at www.sedarplus.ca for more information on each measure, including definitions and methods of calculation. A reconciliation of Adjusted EBITDA and Adjusted Earnings (Loss) to Profit (Loss) and Free Cash Flow to Net cash provided by (used in) operating activities is included at the end of this press release.

Forward-looking Information 

Certain information in this press release may constitute “forward-looking information” within the meaning of applicable securities legislation. All information contained in this press release, other than statements of current and historical fact, is forward-looking information. Forward-looking information includes, but is not limited to, the discussion of our business, strategies and expectations of future performance, including any guidance on financial expectations and anticipated changes to our business lines, proposed changes to our financial statements, and our expectations with respect to cash flows and liquidity. Generally, forward-looking information can be identified by use of words such as “may”, “will”, “expect”, “believe”, “anticipate”, “estimate”, “intend”, “plan”, “would”, “could”, “should”, “continue”, “goal”, “objective”, “remain” and other similar terminology.

Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by us at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may not be known and may cause actual results, performance or achievements, industry results or events to be materially different from those expressed or implied by the forward-looking information. The material factors or assumptions that we identified and applied in drawing conclusions or making forecasts or projections set out in the forward-looking information (including sections entitled “Business Outlook”) include, but are not limited to: engagement and product pipeline opportunities will result in associated definitive agreements; continued adoption of cloud subscriptions by our customers; retention of material clients and bookings; sustaining our software and subscription renewals; successful execution of our business strategies; consistent and stable economic conditions or conditions in the financial markets; consistent and stable legislation in the various countries in which we operate; consistent and stable foreign exchange conditions; no disruptive changes in the technology environment; opportunity to acquire accretive businesses and the absence of negative financial and other impacts resulting from strategic investments, acquisitions or dispositions on short term results; successful integration of acquired businesses; and continued availability of qualified professionals.

Inherent in the forward-looking information are known and unknown risks, uncertainties and other factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking information. Those risks include, but are not limited to: the CRE (as defined herein) market conditions; the general state of the economy; our financial performance; our financial targets; our international operations; acquisitions, divestitures, joint ventures and strategic investments; business interruption events; third party information and data; cybersecurity; industry competition; technology strategy; our subscription renewals; our sales pipeline; professional talent; client concentration and loss of material clients; product enhancements and new product introductions; our use of technology; intellectual property; compliance with laws and regulations; privacy and data protection; artificial intelligence; our leverage and financial covenants; interest rates; inflation; our brand, reputation & social media risk; our ARGUS Intelligence transition; share repurchase programs; fixed price engagements; currency fluctuations; credit; tax matters; financial reporting standards; our contractual obligations; legal proceedings; regulatory review; our insurance limits; our internal and disclosure controls; our dividend payments; the price of our common shares; our capital investments; the issuance of additional common shares and debt; shareholder activism; health and safety hazards; environmental, social and governance (ESG) matters and climate change; communications regulation; and foreign private issuer status, as well as those described in our annual publicly filed documents, including the Annual Information Form for the year ended December 31, 2025 (which are available on SEDAR+ at www.sedarplus.ca).

Investors should not place undue reliance on forward-looking information as a prediction of actual results. The forward-looking information reflects management’s current expectations and beliefs regarding future events and operating performance and is based on information currently available to management. Although we have attempted to identify important factors that could cause actual results to differ materially from the forward-looking information contained herein, there are other factors that could cause results not to be as anticipated, estimated or intended. The forward-looking information contained herein is current as of the date of this press release and, except as required under applicable law, we do not undertake to update or revise it to reflect new events or circumstances. Additionally, we undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of Altus Group, our financial or operating results, or our securities.

Certain information in this press release, including sections entitled “Business Outlook”, may be considered as “financial outlook” within the meaning of applicable securities legislation. The purpose of this financial outlook is to provide readers with disclosure regarding Altus Group’s reasonable expectations as to the anticipated results of its proposed business activities for the periods indicated. Readers are cautioned that the financial outlook may not be appropriate for other purposes.

FOR FURTHER INFORMATION PLEASE CONTACT: 

Camilla Bartosiewicz 
Chief Communications Officer, Altus Group 
(416) 641-9773 
camilla.bartosiewicz@altusgroup.com    

Martin Miasko 
Sr. Director, Investor Relations and Strategy, Altus Group 
(416) 204-5136 
martin.miasko@altusgroup.com 

Reconciliation of Profit (Loss) to Adjusted EBITDA 

The following table provides a reconciliation of Profit (Loss) to Adjusted EBITDA:

Reconciliation of Profit (Loss) to Adjusted Earnings (Loss)

The following table provides a reconciliation of Profit (Loss) to Adjusted Earnings (Loss):