Argo Corporation Reports Second Quarter 2025 Financial Results

TORONTO, Aug. 29, 2025 /CNW/ - Argo Corporation (TSXV:ARGH), (OTCQX:ARGHF) ("Argo" or the "Company"), a leader in next-generation transit solutions, announced its financial results for the quarter ended June 30, 2025 ("Q2 2025"). All figures are in Canadian dollars unless otherwise noted.

In Q2 2025, the Company began the deployment of its proprietary Smart Routing™ hardware and AI-powered software ecosystem, which includes vertically integrated hardware onboard its Argo X1 electric vehicles. This end-to-end platform combines real-time routing software, electric vehicles and full-service operations through Argo's fleet partners to deliver dynamic, on-demand transit services. The Company remains focused on demonstrating the continued success of its Smart Routing™ ecosystem and expanding the service to more municipalities.

Town of Bradford West Gwillimbury, Ontario ("BWG"): Argo launched its first Smart Routing™ deployment in BWG in April 2025. By June 2025, the deployment had more than doubled the average daily transit ridership in BWG, with the town fully decommissioning its legacy fixed-route bus system, which had previously been operated by a private contractor.

City of Brampton: The Company announced a landmark 12-month $10.9 million agreement with the City of Brampton. In the coming weeks, Argo's Smart Routing™ system will begin service in one of Canada's fastest-growing major cities, complementing a robust existing public transit network. The deployment will feature direct connections to fixed, high-density Brampton Transit and GO Transit lines, as well as integration with Ontario's PRESTO fare system.

Fast Company Recognition: Argo was named a winner of Fast Company's 2025 World Changing Ideas Award, recognizing bold and transformative efforts that tackle the world's most pressing challenges.

Financial Highlights: The Company ended Q2 2025 with $7.3 million in cash on a consolidated basis. General and administrative expenses included non-cash share-based compensation to retain senior technical talent, as well as legal and accounting costs related to the previously disclosed special stock dividend, the annual and special meeting of shareholders, and preparation of audited and interim financial statements.

For detailed information, please refer to Argo's unaudited condensed interim consolidated financial statements for the three and six months ended June 30, 2025, and 2024 ("Q2 2025 Financial Statements") and its management's discussion and analysis of financial condition and results of operations for the three and six months ended June 30, 2025, and 2024 (the "Q2 2025 MD&A"), filed on SEDAR+ at www.sedarplus.ca. The following table provides a summary of Argo's financial results for the three months ended June 30, 2025 and 2024:

For the three months ended June 30, 2025

2025

2024

REVENUE

$373,405

$338,471

Cost of revenue

$312,983

$262,538

General and administration

4,023,889

758,738

Operational support

802,289

448,570

Research and development