Tribe Property Technologies Reports Second Consecutive Quarter of Positive Adjusted EBITDA

• Tribe achieved revenue of $8.2 million in Q1-2026, compared to $8.0 million in Q1-2025, while achieving gross profit² of $3.6 million, compared to $3.5 million in the same quarter last year. Tribe posted positive Adjusted EBITDA¹ of $0.1 million in Q1-2026, compared to Adjusted EBITDA of $0.32 million in Q1-2025.
• Software and Services recurring revenue increased 7.9% year-over-year, driven by continued platform adoption, strong customer retention, and growing demand for Tribe's recurring digital service offerings and integrated technology solutions.
• Tribe strengthened balance sheet and improved cash flow profile, with vendor take-back (VTB) obligations reduced by 69% and interest expense lowered by 39% year-over-year, reflecting continued deleveraging and disciplined capital management.
• Tribe's Home Pro platform surpassed 1.5 million tracked deficiencies and warranty items across 300+ residential projects in Canada, strengthening its position in tech-enabled post-construction management.

VANCOUVER, BC, May 26, 2026 /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 first quarter for the three months ended March 31, 2026. 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, "Our first quarter results for 2026 demonstrate a steady operational foundation as we enter the new fiscal year. We delivered stable revenue of $8.2 million while continuing to advance the integration of our unified operating platform across the organization. We were also encouraged by the 7.9% year-over-year growth in our Software and Services recurring revenue, reflecting continued platform adoption, strong customer retention, and growing demand for our recurring digital service offerings. As we progress through 2026, we remain focused on re-accelerating growth across our national footprint by scaling our AI-enabled property management solutions, expanding adoption of Tribe Home, and increasing revenue per home through value-added services."

Scott Ullrich, Tribe's CFO, stated, "Our Q1-2026 performance reflects continued operational discipline and a strong focus on strengthening the Company's financial position. During the quarter, we significantly improved our balance sheet and cash flow profile, reducing vendor take-back obligations by 69% and lowering interest expense by 39% year-over-year through disciplined debt management and optimization initiatives. We also expanded our gross profit margin² to 44.2%, up from 43.5% in the same period last year, driven by targeted efficiency initiatives and ongoing cost management. Looking ahead, our key financial priorities remain focused on enhancing profitability, driving further operational efficiencies through technology and integration initiatives, and maintaining disciplined capital allocation to support sustainable long-term growth."

Q1-2026 Financial Highlights:

• Revenue: Tribe achieved revenue of $8.2 million in the first quarter 2026; and increase of 3% compared to $8.0 million achieved in the first quarter of 2025. 
• Gross profit²: Tribe achieved Gross profit of $3.6 million in the first quarter 2026; an increase of 4.5% compared to $3.5 million in the first quarter of 2025.  Gross profit percentage² was 44.2% in the first quarter of 2026, compared to Gross profit percentage of 43.5% in the first quarter of 2025. The increase in gross profit percentage was due to increased revenues while maintaining salary costs.
• Adjusted EBITDA¹: Tribe achieved Adjusted EBITDA of $0.1 million in the first quarter 2026 compared to the Adjusted EBITDA of $0.32 million in the first quarter of 2025. 
• Net loss: Tribe reported a net loss of $0.85 million in Q1-2026, compared to a net loss of $0.61 million in Q1-2025.

Events Subsequent to March 31, 2026:

• On May 19, 2026, the Company announced that its Home Pro platform surpassed 1.5 million tracked post-construction deficiencies and warranty-related items across more than 300 residential projects in Canada. Originally developed as a pre-delivery inspection tool, the platform has evolved into a comprehensive occupancy lifecycle solution supporting over 100 developers through real-time documentation, trade coordination, and post-occupancy warranty management.

Outlook:

Management remains confident that the Company will continue building momentum through 2026, supported by ongoing operational execution, disciplined cost management, and continued integration of recently amalgamated acquisitions. The Company remains focused on driving revenue growth, expanding margins, and improving profitability, while advancing its technology-first strategy.

Key priorities include:

• Innovating with AI capabilities: Integrate AI-driven tools into property management and digital services to improve efficiency, resident engagement, and data-driven decision-making.
• Enhancing profitability: Continue implementing operational efficiencies and leveraging technology to improve gross profits and strengthen Tribe's Adjusted EBITDA profile.
• Increasing Organic Revenue Growth: Expand recurring software and service revenues through increased adoption of Tribe Home, growth in managed communities, expanded Home Pro deployments, and deeper penetration of value-added products and services across Tribe's national platform.
• Pursuing strategic acquisitions: Evaluate and execute acquisitions that are immediately accretive and complement Tribe's AI capabilities and national platform.
• Building strategic partnerships: Leverage the Tribe platform to create curated offers and services that support the daily lifestyle needs of communities, highlighting collaborations with Canadian businesses and driving value for residents.

First Quarter 2026 Financial Results Webinar

The Company will hold a conference call and simultaneous webcast to discuss its results on May 26, at 1:00 pm ET (10:00 am PT). The call will be hosted by Joseph Nakhla, Chief Executive Officer, and Scott Ullrich, Chief Financial Officer.

Related earnings release materials will be available on SEDAR+ profile at www.sedarplus.ca and Tribe's website at https://tribetech.com/investors/.

Webinar Details:

Please connect 5 minutes prior to the conference call to ensure time for any software download that may be required.

Non-IFRS Measures

The following and preceding discussion of financial results includes reference to Gross Profit, Gross Profit Percentage and Adjusted EBITDA, which are all non-IFRS financial measures. Non-IFRS measures do not have a standardized meaning under IFRS, and therefore may not be comparable to similar measures presented by other issuers.  Non-IFRS measures have limitations as analytical tools and should not be considered in isolation nor as a substitute for analysis of the Company's financial information reported under IFRS and should be read in conjunction with the consolidated financial statements for the periods indicated.

(1) Non-IFRS measures: Adjusted EBITDA does not have a standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. We define Adjusted EBITDA attributed to shareholders as net income or loss excluding severance and acquisition costs, interest expense and finance costs, foreign exchange gains and losses, current and deferred income taxes, depreciation and amortization, stock-based compensation, fair value gains and losses on investments, and other expenses. We believe Adjusted EBITDA is a useful measure as it provides important and relevant information to our management about our operating and financial performance. Adjusted EBITDA also enables our management to assess our ability to generate operating cash flow to fund future working capital needs, and to support future growth. Excluding these items does not imply that they are non-recurring or not useful to investors. Investors should be cautioned that Adjusted EBITDA attributable to shareholders should not be construed as an alternative to net income (loss) or cash flows as determined under IFRS.

(2) Non-IFRS measures: Gross profit and gross profit percentage do not have a standardized meaning under IFRS, and therefore may not be comparable to similar measures presented by other issuers. We define gross profit as revenue, excluding ancillary revenues, less cost of software and services and software licensing fees. Cost of software and services include direct costs of community managers, client accounting staff and accounting software, excluding client administration and other administrative applications. We define gross profit percentage as gross profit calculated as a percentage of revenues, excluding ancillary revenues. Gross profit and gross profit percentage should not be construed as an alternative for revenue or net loss in accordance with IFRS. We believe that gross profit and gross profit percentage are meaningful metrics in assessing our financial performance and operational efficiency.

SELECTED QUARTERLY FINANCIAL INFORMATION

The following table sets forth selected financial information of the results of operations for the three months ended March 31, 2026 and 2025 as follows:

Reconciliation of Net Loss to Adjusted EBITDA

The following table sets forth the reconciliation of net loss to adjusted EBITDA for the three months ended March 31, 2026and 2025:

Financial Statements and Management's Discussion & Analysis

Please see the consolidated financial statements and related Management's Discussion & Analysis ("MD&A") for more details. The unaudited consolidated financial statements for the three months ended March 31, 2026 and 2025, and related MD&A have been reviewed and approved by Tribe's Board of Directors. Tribe recognizes that most of its investors are now accessing corporate and financial information either through pushed news services, directly from www.tribetech.com or SEDAR+. Thus, Tribe has prepared this truncated news release to alert investors to its results and that a more detailed explanation and analysis is readily available in the MD&A. These reports have been filed on SEDAR+ at www.sedarplus.ca and posted at www.tribetech.com.

"Joseph Nakhla"
Chief Executive Officer
1606-1166 Alberni Street
Vancouver, British Columbia V6E 3Z3
Phone: (604) 343-2601
Email: joseph.nakhla@tribetech.com

About Tribe Property Technologies

Tribe is a property technology company that is disrupting the traditional property management industry. As a rapidly growing tech-forward property management company, Tribe's integrated service-technology delivery model serves the needs of a much wider variety of stakeholders than traditional service providers. Tribe seeks to acquire highly accretive targets in the fragmented North American property management industry and transform these businesses through streamlining and digitization of operations. Tribe's platform decreases customer acquisition costs, increases retention, and allows for the addition of value-added products and services through the platform. Visit www.tribetech.com for more information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement on Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian securities laws regarding the Company and its business.  When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking information. Forward-looking information in this news release may relate to statements with respect to the aims and goals of the Company; financial projections; growth plans; future acquisitions by the Company; beliefs of the Company with respect to the independent owner-investors market; prospective benefits of the Company's platform; and other factors or information. Such information represents the Company's current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking information. The Company does not intend, and do not assume any obligation, to update forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.

SOURCE Tribe Property Technologies Inc.

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