TORONTO, Nov. 3, 2026 /CNW/ — Propel Holdings Inc. (“Propel” or the “Company”) (TSX: PRL), the fintech facilitating access to credit for underserved consumers, today reported financial results for the three months ended September 30, 2026 (“Q3 2026”). Propel also announced that its Board of Directors has approved a further increase to its dividend from C$1.02 to C$1.08 per share on an annualized basis, effective Q4 2026. This represents an increase of 6% and the Company’s thirteenth consecutive quarterly dividend increase. All amounts are expressed in U.S. dollars unless otherwise stated.

Financial and Operational Highlights for Q3 2026 (Shown in U.S. Dollars unless otherwise stated)
Comparable metrics relative to Q3 2025, unless otherwise stated

Revenue: increased by 32% to $201.5 million, representing a recordAdjusted EBITDA1: increased by 39% to $44.8 million, representing a recordNet Income: increased by 23% to $18.4 millionAdjusted Net Income1: increased by 54% to $24.9 million, representing a recordDiluted EPS2: increased by 22% to $0.43 (C$0.61)Adjusted Diluted EPS1,2: increased by 53% to $0.59 (C$0.82), representing a recordReturn on Equity3: achieved 25% on an annualized basisAdjusted Return on Equity1: achieved 34% on an annualized basisLoans and Advances Receivable: increased by 22% to $529.0 million, a record ending balanceEnding Combined Loan and Advance Balances (“CLAB”)1: increased by 24% to $690.5 million, a record ending balanceDividend: paid a Q3 2026 dividend of C$0.255 per common share on September 3, 2026, representing a 6% increase to our Q2 2026 dividend

Management Commentary

“Propel delivered another strong quarter, with record revenue, Total Originations Funded1, Ending CLAB1, Adjusted EBITDA1 and Adjusted Net Income1, while generating an Adjusted Return on Equity1 of 34%. For the first time in our history, quarterly revenue surpassed $200 million, marking another significant milestone in our growth.

Our results reflect the strength and resilience of our business model against an evolving economic environment. Consumer demand remains strong, while credit performance is consistent with our seasonal expectations. Importantly, we achieved this growth while maintaining a disciplined approach to underwriting with our Bank Partners.

Our expanding geographic presence and diversified marketing channels are enabling us to reach more consumers than ever before. New customer originations increased 55% year-over-year, including Lending as a Service. At the same time, our investments in AI, automation and operating infrastructure are driving greater efficiencies and enabling continued profitable growth.

These results demonstrate the scalability of our platform, the strength of our execution and the significant opportunity that remains ahead of us. Fifteen years into our journey, and five years since going public, we remain as ambitious as ever to expand access to credit for underserved consumers while delivering profitable growth in 2026 and beyond,” said Clive Kinross, Chief Executive Officer.

Discussion of Financial Results and Business Strategy

Platform expansion and strong demand drove record Total Originations Funded1 and Ending CLAB1Propel and its Bank Partners delivered record quarterly Total Originations Funded1, supported by strong demand from new, returning and existing customersTotal Originations Funded1 increased by 27% year-over-year to a quarterly record of $260.7 million, driving Ending CLAB1 to a record of $690.5 million, up 24% from Q3 2025New customer Total Originations Funded1 grew by 37% year-over-year and by 55% when including Lending-as-a-Service, reflecting continued success in expanding the Company’s customer baseNew customers represented 47% of Total Originations Funded1, compared to 44% in Q3 2025, marking the highest proportion since Q4 2024. This reflects strong demand and the Company’s expanding geographic footprint and distribution channelsAnnualized Revenue Yield1 increased to 121% in Q3 2026 from 113% in Q3 2025, primarily reflecting the growth in new customer originations, the continued scaling of Lending-as-a-Service (“LaaS”), and a greater contribution from higher yielding segmentsThe combination of higher Average CLAB1 and an improved Annualized Revenue Yield1 contributed to record quarterly revenue of $201.5 million, an increase of 32% compared to Q3 2025, marking the first time quarterly revenue surpassed $200 millionDisciplined underwriting and a resilient consumer supported credit performance consistent with seasonal expectationsProvision for loan losses and other liabilities was 53% of revenue, compared to 52% in Q3 2025, driven mainly by a higher proportion of new customer originations. Net Charge-Offs as a percentage of Average CLAB1 remained at approximately 12%, consistent with the prior year, reflecting disciplined underwriting and credit performance consistent with seasonal expectations while achieving record Total Originations Funded1Net income and record Adjusted Net Income1 reflect disciplined execution and operating efficiencyNet income increased by 23% to $18.4 million, while Adjusted Net Income1 increased by 54% to a record $24.9 million in Q3 2026Strong profitability was supported by record revenue and growing efficiencies from investments in technology, AI, automation and operating infrastructure, which are helping support the Company’s ability to scaleAcquisition and data expenses decreased sequentially despite record originations, while the Cost Per New Customer Funded Origination1 declined by 23% since Q1 2026, reflecting improving acquisition efficiencies as the Company’s distribution channels continue to scaleContinued growth across Propel’s expanding platformLaaS delivered record revenue of $13.5 million in Q3 2026, an increase of 170% year-over-yearLaaS growth was enabled by geographic and product expansion and committed long-term capital partners. Through a capital-light model this program generates fee-based revenue without corresponding balance-sheet funding requirementsPropel UK delivered record revenue of $22.0 million, an increase of 69% year-over-year, reflecting disciplined underwriting, expanded marketing channels and strong consumer demandApproaching the second anniversary of the QuidMarket acquisition, the business continued to deliver strong growth, supported by Propel’s capital, expertise and operational capabilities, reinforcing the opportunity in the UK marketPropel Bank contributed to Propel’s growth through its U.S. servicing activities, while continuing to expand its capabilities and create additional opportunities for long-term growthStrong financial position supports continued growth, increasing dividends and disciplined capital managementThe Company maintained a strong financial position at quarter end, with approximately $71 million of undrawn credit commitment capacity and a Debt-to-Equity3 ratio of 1.2xDespite significant portfolio growth, the Debt-to-Equity3 ratio improved from 1.3x at the end of Q4 2025, reflecting strong internal capital generation and disciplined balance sheet managementThe Company’s cost of debt decreased to 10.2% in Q3 2026 from 11.0% in Q3 2025, primarily reflecting lower interest ratesThe Company’s strong financial position and continued earnings generation supported a 6% increase in the quarterly dividend to C$0.27 per common share beginning in Q4 2026, representing the thirteenth consecutive quarterly dividend increase

Dividend Increase
Propel also announced today that its Board of Directors has approved an increase in the quarterly dividend from C$0.255 to C$0.27 per common share, or from C$1.02 to C$1.08 per common share on an annualized basis. This represents an increase of 6% and the Company’s thirteenth consecutive quarterly dividend increase. The Board declared a dividend of C$0.27 per common share, payable on December 3, 2026 to shareholders of record as of the close of business on November 26, 2026. The Company has designated this dividend as an eligible dividend within the meaning of the Income Tax Act (Canada).

Conference Call Details
The Company will be hosting a conference call and webcast tomorrow morning with a presentation by Clive Kinross, Chief Executive Officer, and Sheldon Saidakovsky, Chief Financial Officer.

Conference call details are as follows:

About Propel
Propel Holdings (TSX: PRL) the fintech building a new world of financial opportunity for consumers, partners, and investors. Propel’s operating brands — Fora Credit, CreditFresh, MoneyKey and QuidMarket — together with Propel Bank facilitate access to credit for consumers underserved by traditional financial institutions. Through its AI-powered platform, Propel evaluates customers in a more comprehensive way than traditional credit scores can. The result is better products and an expanded credit market for consumers while creating sustainable, profitable growth for Propel. The revolutionary fintech platform has already helped consumers access over 2 million loans and lines of credit and over 3 billion dollars in credit. At Propel, we are here to change the way customers, partners and investors succeed together. Learn more at propelholdings.com.

Non-IFRS Financial Measures and Industry Metrics
This press release makes reference to certain non-IFRS financial measures and industry metrics. These measures are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management’s perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. Such measures include “Adjusted Diluted EPS”, “Adjusted EBITDA”, “Adjusted EBITDA Margin”, “Adjusted Net Income”, “Adjusted Net Income Margin”, “Adjusted Return on Equity”, “Average CLAB”, “Cost Per New Customer Funded Origination”, “EBITDA”, “EBITDA Margin”, “Ending CLAB”, “Net Charge-Offs as a percentage of Average CLAB” and “Total Originations Funded”. This press release also includes references to industry metrics such as “Annualized Revenue Yield”, “Return on Equity” and “Total Originations Funded” which are supplementary measures under applicable securities laws.

These non-IFRS financial measures and industry metrics are used to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. We believe that securities analysts, investors and other interested parties frequently use non-IFRS financial measures and industry metrics in the evaluation of issuers. The Company’s management also uses non-IFRS financial measures and industry metrics in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts, and to determine components of management and executive compensation. The key performance indicators used by the Company may be calculated in a manner different than similar key performance indicators used by other similar companies.

Definitions and reconciliations of non-IFRS financial measures to the relevant reported measures can be found in our accompanying MD&A available on SEDAR+. Such reconciliations can also be found in this press release under the heading “Reconciliation of Non-IFRS Financial Measures” below.

Forward-Looking Information
Certain statements made in this press release may constitute forward-looking information under applicable securities laws. These statements may relate to our declared dividend payable on December 3, 2026,  our ability to advance our mission of expanding access to credit for underserved consumers while delivering profitable growth in 2026 and beyond, the continued scaling of LaaS, our ability to balance strong growth with prudent risk management and the growth of LaaS becoming an increasingly meaningful contributor to our revenue and profitability. Often but not always, forward-looking statements can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “believe”, “estimate”, “plan”, “could”, “should”, “would”, “outlook”, “forecast”, “anticipate”, “foresee”, “continue” or the negative of these terms or variations of them or similar terminology.

Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the factors discussed in the “Risk Factors” section of the Company’s annual information form dated March 2, 2026 for the year ended December 31, 2025 (the “AIF”). A copy of the AIF and the Company’s other publicly filed documents can be accessed under the Company’s profile on SEDAR+ at www.sedarplus.ca.

The Company cautions that the list of risk factors and uncertainties described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. The forward-looking information contained in this press release represents our expectations as of the date of this press release (or as the date they are otherwise stated to be made), and are subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

Selected Financial Information

Reconciliation of Non-IFRS Financial Measures
The following table provides a reconciliation of Propel’s net income to EBITDA1 and Adjusted EBITDA1:

The following table provides a reconciliation of Propel’s Net Income to Adjusted Net Income1, Adjusted Return on Equity1 and Adjusted Net Income margin1:

The following table provides a reconciliation of Propel’s Ending CLAB1 to loans and advances receivable:

SOURCE Propel Holdings Inc.

NEW YORK, Nov. 3, 2026 /PRNewswire/ — WhiteFiber, Inc. (Nasdaq: WYFI) (“WhiteFiber” or the “Company”), a provider of artificial intelligence infrastructure solutions, today announced that, through its wholly owned subsidiary Enovum Data Centers Corp., it has completed the previously announced acquisition of two industrial properties in Yadkin County, North Carolina, designated NC-2 and NC-3. The purchase price for the properties was $60 million, paid in cash.

Located approximately 55 miles from WhiteFiber’s NC-1 campus in Madison, North Carolina, the properties comprise approximately 120 acres of land and 500,000 square feet of existing warehouse space. The properties are expected to provide a combined minimum of 60 megawatts (“MW”) of initial gross utility capacity, with the potential to support up to approximately 200 MW within seven years following closing, subject to confirmation and power availability. WhiteFiber intends to retrofit the properties into data center campuses, building on its regional development experience and operating capabilities.

WhiteFiber has received non-binding letters of intent from a broad range of prospective customers for capacity at NC-2 and NC-3 and expansion capacity at NC-1. These include proposals from investment-grade counterparties and proposals incorporating investment-grade credit support. The Company is engaged in advanced discussions with prospective customers across these opportunities.

WhiteFiber is targeting initial ready-for-service capacity at NC-2 and NC-3 in late 2027, subject to customary development conditions. WhiteFiber’s development spending plans are expected to be aligned with definitive customer agreements and financing.

In connection with the acquisition, the seller will continue to occupy portions of the properties under occupancy and partial leaseback arrangements. These arrangements are expected to offset a portion of property carrying costs as WhiteFiber advances its development plans.

NC-1 Operational and Financing Update

Switchgear-related commissioning issues interrupted service and billing for the first 20 MW IT data hall and delayed NC-1’s ramp to full contracted run-rate billing beyond the previously anticipated August timeframe. Approximately 35 MW of the contracted 40 MW IT deployment is now operational, with work ongoing to bring the remaining 5 MW online.

Capital investment required to deliver the initial contracted deployment is substantially complete, with total development costs currently expected to remain within the Company’s initial budget.

WhiteFiber continues to advance financing for the initial contracted deployment at NC-1 with the previously disclosed prospective lending group. The parties are working through the remaining documentation and closing requirements. There can be no assurance that the financing will be completed.

“We are encouraged by the breadth of customer demand, including proposals from investment-grade counterparties and proposals with investment-grade credit support,” said Sam Tabar, Chief Executive Officer of WhiteFiber. “We are building on our development and operating experience in North Carolina to meet strong customer demand across our portfolio. Our priority is to turn that demand into long-term contracts and develop capacity with the right customer and financing commitments in place. We look forward to working closely with local stakeholders as we develop these sites and being a responsible long-term partner to the community.”

WhiteFiber will report its third-quarter 2026 financial results on November 10, 2026, and provide further financial and operating updates at that time.

About WhiteFiber, Inc.

WhiteFiber is a provider of artificial intelligence (“AI”) infrastructure solutions. WhiteFiber owns high-performance computing data centers and provides cloud services to customers. Our vertically integrated model combines specialized colocation, hosting, and cloud services engineered to maximize performance, efficiency, and margin for generative AI workloads. For more information, visit www.whitefiber.com. Follow us on LinkedIn and X @WhiteFiber.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of applicable securities laws. Such statements include, but are not limited to, statements about the Company’s pursuit and potential completion of financing for the initial contracted deployment at NC-1, including the timing and satisfaction of closing requirements; the Company’s ability to bring the remaining MW online;the Company’s plans to develop the properties as data center campuses; expected utility capacity and targeted ready-for-service timelines; prospective customer interest and non-binding letters of intent; and the expected benefits of the Company’s retrofit-first development strategy, including with respect to time-to-market and capital efficiency. These statements may be identified by words such as “will likely result,” “are expected to,” “will continue,” “will allow us to,” “is anticipated,” “estimated,” “expected”, “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. These forward-looking statements are based upon the current beliefs and expectations of the Company’s management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.

Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the forward-looking statements contained herein are reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. The Company undertakes no obligation to update any forward-looking statements except as required by law. All forward-looking statements speak only as of the date of this press release.

Investor Contact
WhiteFiber
IR@whitefiber.com

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SOURCE WhiteFiber, Inc.

MESA, Ariz., Nov. 3, 2026 /PRNewswire/ — Verra Mobility Corporation (NASDAQ: VRRM) (the “Company”), a leading provider of smart mobility technology solutions, announced today that it granted an inducement award to Jon Newhard on November 2, 2026, in connection with Mr. Newhard’s  appointment as President and Chief Executive Officer of the Company, effective November 1, 2026 (the “CEO Commencement Date”), pursuant to the employment agreement entered into between the Company and Mr. Newhard on October 1, 2026. The award was granted as an inducement material to Mr. Newhard’s employment with the Company and was approved by the Company’s Compensation Committee, in accordance with Nasdaq Listing Rule 5635(c)(4).

The inducement award consists of a one-time grant of 1,583,333 time-vested restricted stock units covering shares of the Company’s Class A common stock, par value $0.0001 per share, valued at $4,750,000 on the date of grant, vesting in three (3) equal annual installments of one-third (1/3) each on each of the first three (3) anniversaries of the CEO Commencement Date, subject to Mr. Newhard’s continued service as the Company’s Chief Executive Officer through and including each such vesting date.

This award was granted pursuant to a stand-alone inducement award agreement outside of the Verra Mobility Corporation Amended and Restated 2018 Equity Incentive Plan, as amended, and is subject to the terms and conditions of the applicable award agreement.

About Verra Mobility

Verra Mobility Corporation (NASDAQ: VRRM) is a leading provider of smart mobility technology solutions that make transportation safer, smarter and more connected. The company sits at the center of the mobility ecosystem, bringing together vehicles, hardware, software, data and people to enable safe, efficient solutions for customers globally. Verra Mobility’s transportation safety systems and parking management solutions protect lives, improve urban and motorway mobility and support healthier communities. The company also solves complex payment, utilization and compliance challenges for fleet owners and rental car companies. Headquartered in Arizona, Verra Mobility operates in North America, Europe, and Australia. For more information, please visit www.verramobility.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that are not historical facts, including those regarding the Company’s achievement of its priorities and its other plans, objectives, expectations, business strategies, future operations, financial performance, prospects, and other future events or developments, are forward-looking statements.  These forward-looking statements are based on management’s current expectations, assumptions, and estimates as of the date of this press release and are subject to known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties are described in greater detail under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the U.S. Securities and Exchange Commission.  These forward-looking statements speak only as of the date of this press release and except to the extent required by applicable law, the Company does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments, or otherwise.

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SOURCE Verra Mobility