Tribe Property Technologies Achieves 32% Revenue Growth in Q2-2025
Tribe achieved revenue of $8.1 million in Q2-2025; an increase of 32% compared to $6.2 million in Q2-2024.
Tribe posted an Adjusted EBITDA[1] loss of $0.04 million in Q2-2025, an improvement of 97% compared to an Adjusted EBITDA loss of $1.2 million in Q2-2024.
VANCOUVER, BC, Aug. 28, 2025 /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 second quarter for the three and six months ended June 30, 2025. 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, "Tribe delivered strong results in the second quarter of 2025, achieving revenue of $8.1 million, an increase of 32% compared the same period last year. The Company's growth was primarily driven by acquisitions. On June 6th, Tribe acquired Ace Agencies which tripled our single-unit rental portfolio in the Fraser Valley and Greater Vancouver area."
Angelo Bartolini, Tribe's President and CFO, stated, "This quarter highlights Tribe's ability to drive operational improvements while maintaining a strong financial foundation. Market expansion combined with cost efficiencies have strengthened revenues and improved profitability, resulting in a significant improvement of 97% in Adjusted EBITDA, compared to the second quarter of 2024. The over-subscribed $5.75 million equity financing completed in July further strengthens our balance sheet, providing capital to support growth initiatives and invest in our technology platform and AI solutions."
Tribe's strategy of bringing its tech-backed services model into new markets has generated $8.04 million in revenue in the Greater Toronto Area (GTA) during the first six months of 2025, representing approximately 50% of the Company's total revenue. This rapid growth in the GTA market highlights the scalability of the Company's offering and platform, the success of both organic expansion and strategic acquisitions.
Q2-2025 Financial Highlights:
Revenue: Tribe achieved $8.1 million of revenue in the second quarter 2025; an increase of 32% compared to $6.2 million for the second quarter of 2024.
Gross profit[2]: Gross profit for the second quarter of 2025 was $3.2 million; an increase of 35% compared to $2.3 million in the second quarter of 2024. Gross profit percentage was 41.8% in the second quarter of 2025, compared to Gross profit percentage of 41.5% in the second quarter of 2024.
Adjusted EBITDA[1]: Adjusted EBITDA for the second quarter of 2025 was a loss of $0.04 million; an improvement of 97% compared to an Adjusted EBITDA loss of $1.2 million in the second quarter of 2024.
Q2-2025 Business Highlights:
On June 6, 2025, Tribe acquired 100% of the outstanding share capital of Ace Agencies Ltd. ("Ace Agencies") for $1,057,692 in common shares of the Company, at an issue price of $0.55 per share, and up to $400,000 upon the date that is one-month after the first anniversary of the closing date, payable in shares at an issue price equal to the 20-day weighted average closing market price prior to issuance, but not less than $0.41, subject to adjustment based on the performance of Ace Agencies. Ace Agencies, a residential single-unit rental property management firm based in Abbotsford, British Columbia, generated over $1.4 million in unaudited revenue with positive EBITDA[3] in 2024 and manages approximately 900 single-family rental homes. The acquisition increases Tribe's single-unit rental portfolio by 275%.
Events Subsequent to June 30, 2025:
On July 7, 2025, the Company completed a best efforts public offering of units of the Company, pursuant to which Tribe issued a total of 12,777,777 units, including the full exercise of an over-allotment option, at an issue price of $0.45 per unit for the aggregate gross proceeds of approximately $5,750,000. Each unit is comprised of one common share of the Company and one-half of one Common Share purchase warrant. Each whole warrant entitles the holder thereof to purchase one common share for a period of 36 months from the date of closing at an exercise price of $0.60 per common share, subject to adjustment in certain events. The net proceeds from the offering will be used to fund growth initiatives, technology investments, potential acquisitions, working capital, and vendor take-back repayments. The Company's CEO and CFO both participated in the financing.
On August 21, 2025, the Company announced strong preliminary growth in the Greater Toronto Area ("GTA"), with expected revenue of $8.04 million for the first six months of 2025, representing a 263% increase compared to $2.21 million in the same period of 2024. Since entering the GTA market in November 2023, Tribe has grown to manage approximately 20,000 homes through the acquisitions of Meritus Group Management and DMS Management, as well as organic expansion of its Toronto operations. The GTA portfolio now represents approximately 50% of Tribe's total revenue. The Company's expansion is part of its broader national growth strategy focused on consolidation, modernization, and digital transformation of Canada's property management industry.
Outlook:
Management remains optimistic that 2025 will be a strong year for Tribe, with improved revenue growth, profitability and expanding margins. In addition, the Company expects to further augment its growth through acquisitions. Tribe remains resilient in the current higher interest rate environment with technology solutions that benefit ...
