Tribe Tech Hits Profitability Milestone with AI and M&A in its Sights

VANCOUVER, BC – May 26, 2026 – Tribe Property Technologies Inc. (TSXV: TRBE) has solidified its path toward sustainable profitability, announcing its second consecutive quarter of positive Adjusted EBITDA in its first-quarter financial results for 2026. The Vancouver-based proptech firm reported stable revenue and improved margins, signaling that its strategy of disciplined financial management and technology-led innovation is gaining significant traction.

For the quarter ending March 31, 2026, Tribe posted revenue of $8.2 million, a modest 3% increase from the $8.0 million reported in the same period last year. More significantly, the company demonstrated growing operational efficiency, achieving a positive Adjusted EBITDA of $0.1 million. While this figure is down from the $0.32 million in Q1-2025, achieving it for a second consecutive quarter underscores a pivotal shift for the company as it focuses on building a durable financial foundation. This milestone is complemented by a strengthened balance sheet and a clear, aggressive strategy for future growth centered on artificial intelligence and strategic acquisitions.

A Tech-First Approach to Property Management

At the core of Tribe's performance is its unwavering commitment to disrupting the traditional property management industry through technology. A key indicator of this success is the 7.9% year-over-year growth in its Software and Services recurring revenue. Company leadership attributes this steady climb to strong customer retention and the continued adoption of its integrated digital platforms.

"Our first quarter results for 2026 demonstrate a steady operational foundation as we enter the new fiscal year," stated Joseph Nakhla, Tribe's CEO. He emphasized the importance of the recurring revenue growth, which reflects "continued platform adoption, strong customer retention, and growing demand for our recurring digital service offerings."

One of the company's flagship technology offerings, the 'Home Pro' platform, has reached a notable milestone. Subsequent to the quarter's end, Tribe announced the platform had surpassed 1.5 million tracked post-construction deficiencies and warranty items. This service, which supports over 100 developers across more than 300 residential projects in Canada, has evolved from a simple pre-delivery inspection tool into a comprehensive occupancy lifecycle solution. It streamlines real-time documentation, coordinates trades, and manages post-occupancy warranties, embedding Tribe's technology deep within the construction and residential management ecosystem.

Looking ahead, Tribe is setting its sights on the next wave of innovation: artificial intelligence. The company has identified the integration of AI-driven tools as a top priority for 2026. The goal is to leverage AI to enhance operational efficiency, improve resident engagement through its 'Tribe Home' platform, and enable more sophisticated data-driven decision-making for property managers and community boards. This focus on AI is not just about keeping up with trends but is a core part of its strategy to re-accelerate growth and increase revenue per home through new value-added services.

Disciplined Finances Build a Stable Foundation

While technology drives the vision, disciplined financial management is providing the fuel. Tribe's Q1 results paint a picture of a company meticulously strengthening its financial health. Gross profit increased to $3.6 million from $3.5 million a year prior, with the gross profit margin expanding to 44.2% from 43.5%. This improvement was achieved by growing revenues while carefully managing salary costs, a testament to the efficiencies gained through its integrated platform.

CFO Scott Ullrich highlighted the company's focus on deleveraging and capital management. "During the quarter, we significantly improved our balance sheet and cash flow profile, reducing vendor take-back (VTB) obligations by 69% and lowering interest expense by 39% year-over-year," he stated. This sharp reduction in debt obligations and financing costs frees up capital and reduces financial risk, positioning the company for more sustainable long-term growth.

Despite the positive Adjusted EBITDA, the company reported a net loss of $0.85 million for the quarter, compared to a net loss of $0.61 million in Q1-2025. This is common for growth-focused tech companies that invest heavily in development and expansion. The Adjusted EBITDA figure, a non-IFRS measure which excludes items like amortization, interest, and stock-based compensation, is viewed by management as a key indicator of underlying operational performance and the company's ability to generate cash flow.

Ullrich summarized the financial strategy, noting, "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."

A Strategy for a Fragmented Market

Beyond internal efficiencies and organic growth, Tribe is pursuing an ambitious plan to consolidate the highly fragmented North American property management market. The industry is populated by a vast number of small and medium-sized firms, many of which lag in technological adoption. Tribe sees this as a prime opportunity for growth through strategic, accretive acquisitions.

The company's model involves acquiring traditional property management businesses and transforming them by integrating them into its centralized, tech-forward platform. This approach aims to streamline operations, reduce customer acquisition costs, improve service delivery, and create new revenue streams by offering digital products and value-added services to a newly acquired customer base. This strategy has been actively pursued, with Tribe having completed the amalgamation of recent acquisitions in 2025 to create a more unified and scalable operating platform.

With a stronger balance sheet and a proven model for integrating new businesses, Tribe appears well-positioned to accelerate this M&A strategy. The company's outlook for 2026 explicitly includes evaluating and executing acquisitions that are immediately accretive and complement its national platform and growing AI capabilities. This dual approach of organic, tech-driven growth and strategic consolidation forms the foundation of its plan to capture a larger share of the market and redefine industry standards. As the company continues to build momentum, its ability to successfully execute this vision will be a key factor for investors and industry observers to watch throughout the remainder of the year.