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Tribe Property Technologies Announces 74% Increase in Revenue and 93% Improvement in Adjusted EBITDA in Q3-2024

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Tribe achieved record quarterly revenue of $8.33 million in Q3-2024, an increase of 74% from the same period last year, driven by healthy organic growth and the acquisitions of DMS and Meritus Management Group (Meritus).Tribe is pleased to report a 93% Year-over-Year improvement in Adjusted EBITDA as a result of increasing revenues in the quarter and the execution of strategic integration and efficiency projects resulting in cost reductions.Management provides a strong growth outlook and is on track with its goal of achieving Adjusted EBITDA positive by the end of 2024; and generating positive cash flow from operating activities in 2025.

VANCOUVER, BC, Nov. 28, 2024 /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 third quarter ended September 30, 2024. All amounts are stated in Canadian dollars on an as reported basis under IFRS (International Financial Reporting Standards) unless otherwise indicated.

Joseph Nakhla, Chief Executive Officer of Tribe, commented, “We are thrilled with the financial performance of the quarter. The acquisition of DMS and prior to that, Meritus, in combination with our robust organic growth, has propelled Tribe’s annualized revenue run rate to over $32 million and has significantly enhanced the Company’s profitability profile. Furthermore, our cost optimization efforts have delivered material benefits, evidenced by the significant improvement in our Adjusted EBITDA. We remain on track to reach break-even Adjusted EBITDA by year-end and expect to start generating positive cash flow from operating activities in 2025. We are starting to realize the benefits of our national footprint and expanded revenue streams.”

Q3-2024 Financial Highlights:

Revenue: Tribe achieved record revenue of $8.33 million in Q3-2024, an increase of 74% compared to $4.80 million in Q3-2023. Revenue growth was positively impacted by organic growth and the acquisitions of DMSI and Meritus Group Management Inc.Gross profit(2): Gross profit was $3.03 million in Q3-2024, an increase of 99% compared to $1.52 million in Q3-2023. Gross profit was favorably impacted by the increase in revenue and cost optimization efforts as a result of executing on strategic integration and efficiency projects in the quarter.Gross margin percentage: Tribe achieved Gross margin percentage of 38.8% in Q3-2024, in line with Gross margin percentage of 38.8% in Q3-2023. Gross margin percentage remained stable, supported by revenue growth and cost optimization initiatives.Adjusted EBITDA(1): Tribe had an Adjusted EBITDA loss of $0.11 million in Q3-2024, an improvement of 93% compared to an Adjusted EBITDA loss of $1.44 million in Q3-2023. Adjusted EBITDA improvement was driven by higher gross profit and enhanced operational efficiencies.Revenue Segmentation: Recurring revenue, which is composed of Tribe’s management service fees across condo, rental, commercial and not for profit housing, was $7.12 million in Q3-2024, an increase of 67%, compared to $4.26 million in Q3-2023. The increase in recurring revenue was due to the onboarding of new customers, as well as the DMS and Meritus acquisitions. Transactional revenue was $1.21 million as compared to $0.53 million in Q3-2023, representing an increase of 128%. This growth was primarily driven by an increase in financial services revenues through banking partnerships and software licensing fees for upcoming real estate development projects; underscoring the Company’s ongoing commitment to identifying new avenues for creating value for stakeholders.

Q3-2024 Business Highlights:

On July 17, 2024, Tribe launched its Tribe Home app for Android devices and introduced enhancements to its iOS version, improving customer experience and making it easier than ever to manage and live in multi-family residential homes, such as condos and townhouses.On August 22, 2024, Tribe announced that it had rebranded and unified all of DMSI’s various service divisions under the name DMS.Tribe also announced it had begun the expansion of DMS’ service offerings to Tribe’s current customer base of Strata and Condo Corporations, Investor-Owners and Property Developers, leveraging expanded service offerings across Canada.

Outlook:

The Company is on track to achieve its key goals for 2024 with accelerating revenue growth, improved profitability and expanding margins. The Company is pleased to report on its key goals for 2024:

Increase monthly recurring revenue. Organic growth fueled by landing new property management agreements, onboarding more communities onto the Tribe platform, winning new software licensing agreements and increasing digital services revenue.Make additional acquisitions. The company expects to continue executing on its aggressive M&A strategy. Tribe closed its transformational acquisition of DMSI in June 2024 and continues to have several additional acquisition targets in its M&A pipeline.Improve profitability. The Company expects to continue driving efficiencies in the business resulting in improved gross margins and enhancing Tribe’s EBITDA profile. The completion of key integration milestones for DMS has accelerated the Company’s goal of achieving profitability.Continue to innovate. Tribe continued to invest in its proprietary software platform this year, adding functionality to its suite of products in order to maintain its industry leadership position.

The persistent housing shortage across North America remains a key long-term driver of increased construction activity and demand for Tribe’s services. Tribe’s advanced tech-elevated property management solutions continue to be the cornerstone of its success, delivering exceptional value and efficiencies to stakeholders and strengthening the Company’s expansive national footprint.

Third Quarter 2024 Financial Webcast

The Company will hold a conference call and simultaneous webcast to discuss its results on November 28, 2024 at 1:00 pm ET (10:00 am PT). The call will be hosted by Joseph Nakhla, Chief Executive Officer, and Angelo Bartolini, Chief Financial Officer. Please dial-in 10 minutes prior to start of the call.

Webinar Details:

Date:

November 28, 2024

Time:

1:00 pm ET (10:00 am PT).

Webinar Registration:

https://bit.ly/TRBE-Q324-webinar 

Dial-in:

+1 778 907 2071 (Vancouver local)

+1 647 374 4685 (Toronto local)

Meeting ID #:

870 7609 6115

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

Footnotes

(1)

Adjusted EBITDA is a non-IFRS measure that does not have a standardized meaning and may not be comparable to a similar measure disclosed by other issuers. The Company defines Adjusted EBITDA as net income or loss excluding depreciation and amortization, stock-based compensation, interest expense, income tax expense, impairment charges and other expenses. The Company believes Adjusted EBITDA is a useful measure as it provides important and relevant information to management about the operating and financial performance of the Company. Adjusted EBITDA is provided as a proxy for the cash earnings (loss) from the operations of the business as operating income (loss) for the Company includes non-cash amortization and depreciation expense and stock-based compensation. Adjusted EBITDA also enables management to assess its 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)

Gross Profit and Gross Profit Percentage are non-IFRS measures that do not have a standard meaning and may not be comparable to a similar measure disclosed by other issuers. The Company defines Gross Profit as revenue less cost of software and services and software licensing fees, and Gross Profit Percentage as Pross Profit calculated as a percentage of revenue. Gross Profit and Gross Profit Percentage should not be construed as an alternative for revenue or net loss in accordance with IFRS. The Company believes that gross profit and gross profit percentage are meaningful metrics in assessing the Company’s financial performance and operational efficiency.

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.

Adjusted EBITDA1

Three months ended
September 30

Nine months ended
September 30, 2024

$000s

2024

2023

2023

2023

Net loss

$ (1,341)

$ (2,071)

$  (6,241)

$  (7,199)

Depreciation

202

208

620

646

Amortization

388

147

913

441

Stock-based compensation

26

47

96

136

Interest expense

437

145

983

436

Interest income

(20)

(72)

Severance costs

100

73

140

73

Acquisition costs

25

28

649

28

Other

58

4

193

1

Adjusted EBITDA 1 

$ (105)

$ (1,439)

$ (2,647)

$ (5,510)

 

Gross Profit2

Three Months Ended
September 30

Nine Months Ended
September 30

$000s

2024

2023

2024

2023

Revenue, excluding ancillary revenues

$ 7,823

$ 3,921

$ 18,146

$11,759

Cost of software & services and software license fees
(excluding costs related to ancillary revenues)

4,790

2,398

10,937

7,240

Gross Profit2

$ 3,033

$ 1,523

$ 7,209

$ 4,519

Gross Profit2 Percentage

38.8 %

38.8 %

39.7 %

38.4 %

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 third quarter ended September 30, 2024 and related MD&A have been reviewed and approved by Tribe’s Audit Committee and 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.sedar.com 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 tribetech.com for more information.

Cautionary Statement on Forward-Looking Information

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and 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 statements or information. Forward-looking statements or information in this news release may relate to statements with respect to the aims and goals of the Company; financial projections; growth plans including future prospective consolidation in the property management sector; future acquisitions by the Company; integration of the acquisition of Meritus Group Management Inc or DMS.; beliefs of the Company with respect to property management and real estate development markets; prospective benefits of the Company’s platform; and other factors or information. Such statements represent 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 statements. The Company does not intend, and do not assume any obligation, to update these forward-looking statements or 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.

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.

SOURCE Tribe Property Technologies Inc.

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Hisense Celebrates Earth Day: The Quiet Green Shift Happening Inside Households Through Smarter Appliances

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DUBAI, UAE, April 22, 2026 /PRNewswire/ — There’s something futuristic about a refrigerator that thinks for itself. Not in a science-fiction, take-over-the-world kind of way, but in the everyday miracle of a 620-litre side-by-side unit deciding, on its own, that 3am is the perfect time to run its compressor at minimal power because nobody’s opening the door anyway.

This is the green revolution that nobody talks about at climate summits. While world leaders debate carbon credits and industrial emissions, a quieter transformation is unfolding in kitchens, utility rooms, and living spaces across the UAE and beyond. It happens every time a washing machine calculates the precise amount of water needed for that half-load of towels, or when an air conditioner’s inverter technology throttles down instead of cycling on and off like an energy-guzzling metronome.

Earth Day, falling on 22 April this year, typically conjures images of tree-planting ceremonies and beach clean-ups. Worthy endeavours, certainly. But the environmental impact of what sits in your home, running twenty-four hours a day, seven days a week, fifty-two weeks a year, rarely gets the attention it deserves.

On average, washing machines use 19 gallons of water per load, and the average household runs between 5 and 6 loads per week. Based on those figures, most washers use up to 5,605 gallons of water annually . Swap that for a modern front-load unit with AI wash programs, like Hisense’s models, and that figure can drop by up to 50 percent. Multiply this across the roughly 500,000 households in Dubai alone, and we’re suddenly talking about water savings that would make a desalination plant executive weep with joy.

The same logic applies to electricity consumption, a particularly pressing concern in a region where summer temperatures regularly exceed 45°C and air conditioning is a necessity. The difference between a conventional split AC unit and one equipped with inverter technology isn’t marginal, it’s substantial enough to show up on utility bills within the first month of operation.

Intelligence as an Environmental Strategy

What makes the current generation of home appliances genuinely different isn’t just improved efficiency ratings or eco-labelling. It’s the integration of AI into the very fabric of how these machines operate.

Hisense, a brand that has positioned itself at this intersection of technology and sustainability, describes its approach as a “dual-track strategy of intelligence plus green development.” Its ConnectLife ecosystem, available on select refrigerators, washing machines, dishwashers, and air conditioners, monitors energy consumption in real-time, learns household patterns, and makes AI-driven recommendations that, over time, compound into meaningful resource savings.

A Hisense 14-place setting dishwasher with auto-wash technology, for instance, doesn’t simply run the same cycle regardless of load. It assesses soil levels and adjusts water temperature and duration accordingly. A half-load mode means running appliances at appropriate capacity rather than wasting resources on unnecessary full cycles.

Multi-airflow cooling systems that reduce temperature fluctuation and preserve food longer. No-frost technology that eliminates the energy waste of ice buildup. Inverter compressors that modulate power consumption rather than running at full throttle constantly. These technologies have existed in various forms for years. What’s changed is their integration into accessible price points and mainstream product lines, making efficient living achievable for households beyond the ultra-premium market.

The Gulf region presents a fascinating case study for domestic sustainability. Per capita energy consumption ranks among the highest globally, driven by climate control requirements, water desalination dependencies, and historically subsidised utility costs. Yet the UAE has simultaneously positioned itself as a regional leader in renewable energy investment and sustainability commitments.

This creates a unique environment where smart appliance adoption carries amplified significance. A 1.5-ton inverter split AC running across a typical Abu Dhabi summer doesn’t just save its owner money, it reduces the load on an electrical grid increasingly powered by solar and nuclear generation. The connection between individual choices and collective outcomes becomes tangible in ways that might seem abstract in milder climates.

The rise of connected appliances adds another dimension. Remote diagnostics can extend product lifespans by identifying minor issues before they become terminal failures. Software updates can improve efficiency algorithms years after purchase. Energy monitoring creates accountability loops that encourage conscious consumption patterns.

Steam wash functions on modern washing machines reduce the need for hot-water cycles while improving allergen removal. Anti-bacterial filters in air conditioning units address both health and environmental concerns simultaneously. These convergences suggest that the old tension between convenience and conscience may be resolving itself through engineering rather than requiring consumers to choose sides.

The Household as Climate Actor

There’s something democratic about domestic sustainability. Industrial emissions reductions require policy negotiations, capital investments, and coordination across complex stakeholder ecosystems. Choosing a more efficient refrigerator requires a trip to the appliance store and perhaps a slightly higher upfront cost that will recoup itself over the product’s operational lifetime.

This isn’t to diminish the necessity of systemic change, individual action cannot substitute for structural transformation. But the two approaches complement rather than compete. Households equipped with intelligent appliances consume fewer resources, place less strain on infrastructure, and model consumption patterns that cascade through communities.

The quiet green shift happening inside households won’t make headlines the way renewable energy megaprojects or electric vehicle adoption rates do. But every time that dishwasher calculates optimal water usage, every time that inverter compressor modulates instead of cycles, every time that smart refrigerator adjusts its cooling schedule based on door-opening patterns, something meaningful happens. Millions of these moments, aggregated across millions of households, compound into impact that rivals any single infrastructure project.

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Dreame Nebula NEXT Auto expands academic collaboration to accelerate AI-driven automotive innovation

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UC Berkeley engagement underscores long-term investment in autonomous systems, engineering depth and intelligent vehicle development

BERKELEY, Calif., April 22, 2026 /PRNewswire/ — Dreame Nebula NEXT Auto has deepened its engagement with leading academic institutions, including the University of California, Berkeley, as it accelerates development of AI-defined vehicles and next-generation autonomous systems. The collaboration signals a long-term commitment to advancing core technologies that will shape the future of intelligent automotive motion.

The engagement brought Nebula NEXT engineers and leadership together with Berkeley researchers specialising in autonomous control systems, AI and intelligent transportation. The sessions focused on translating advanced research into real-world vehicle systems, with particular emphasis on safety, control and full-stack AI integration.

Jake Ma, Executive of Dreame Nebula NEXT Auto, said: “We aren’t building a car. We are building a new brain for the physical world. To us, the car is the only physical mothership capable of carrying the extreme compute required by large AI models today.”

The visit forms part of a broader strategy to anchor Nebula NEXT’s development in deep technical collaboration. By working closely with academic experts, the company is strengthening its approach to autonomous driving, vehicle intelligence and system-level engineering.

Nebula NEXT builds on Dreame Technology’s foundation in precision engineering and AI-driven innovation. This heritage underpins a shift from software-defined vehicles to AI-defined vehicles, where intelligence is embedded across the entire system, from perception and decision-making to chassis and powertrain control.

The company’s technical direction centres on integrating AI into the core dynamics of how vehicles operate. This includes continuous learning systems, multi-agent architectures and high-performance computing platforms designed to support real-time decision-making in complex driving environments.

Nebula NEXT first drew global attention at CES 2026 with the debut of the Nebula NEXT 01, a four-door electric hyper-sedan concept. The vehicle delivers 1.8-second acceleration from 0 to 100 km/h, more than 2,000 horsepower and a lightweight structure built from proprietary Blue Carbon Fiber.

Momentum continued with a high-profile appearance during the Super Bowl LVIII broadcast, extending the brand’s reach across North America and reinforcing its position as an emerging force in automotive technology.

Alongside performance, the company continues to prioritise foundational innovation. Its architecture combines AI-native operating systems, zonal electrical design and high-density computing platforms to enable scalable, intelligent vehicle systems.

Nebula NEXT is now entering a phase focused on system execution, engineering depth and scalable technology development. The company will present further advances at an upcoming Silicon Valley event on 27 April 2026, where it will unveil new products and core technologies.

By combining global market momentum, academic collaboration and a focus on engineering fundamentals, Dreame Nebula NEXT is positioning itself at the centre of the transition to AI-defined mobility.

Media contact:
Li Tong, Dreame Nebula Next Auto PR head, litong2@dreame.tech
Website: https://www.dreametech.com

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Sucden Financial Enables Client Trading in Shanghai Nickel Futures

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LONDON, April 22, 2026 /PRNewswire/ — Sucden Financial, the multi-asset execution, clearing and liquidity provider, announces that clients can now trade nickel futures and options on the Shanghai Futures Exchange (SHFE), following today’s opening of the contract to international participants.

Sucden Financial offers access to SHFE through its Overseas Intermediary status and established Chinese banking relationships. Clients can manage exposure across SHFE, the London Metal Exchange (LME) and more than 20 other global commodities markets through a single account.

In addition to SHFE nickel contracts, Sucden Financial’s clients can access the following Chinese exchanges: the Shanghai International Energy Exchange, the Dalian Commodity Exchange and the Zhengzhou Commodity Exchange.

Lucy Wainman, Head of Sales (China) at Sucden Financial, said:

“We are pleased to offer clients the opportunity to trade Shanghai nickel futures and options contracts, further broadening our access to Chinese markets. This milestone reflects the hard work of our team and the long-standing relationships we have built in China. We would like to thank SHFE and Chinese regulators for their support and constructive engagement.”

Marc Bailey, CEO of Sucden Financial, said:

“Expanding our global exchange coverage to include access to onshore mainland Chinese markets supports our organic growth strategy. By adding access to SHFE, we provide clients with an extended global reach through a single account. Continued investment in technology underpins our long-term commitment to our clients, enabling them to respond quickly to changing market dynamics and capture emerging opportunities.”

About Sucden Financial

With a history and heritage in commodity futures and options trading, Sucden Financial has evolved and diversified to become a leading global multi-asset execution, clearing and liquidity provider across FX, fixed income, and commodities.

Sucden Financial has a proven track record of over 50 years in financial markets. Since its foundation in 1973, it has been supported by its parent, Sucden, one of the world’s leading soft commodity trading groups, while remaining fully independent in its day-to-day trading operations.

Sucden Financial Limited is authorised and regulated by the Financial Conduct Authority.

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