- Tribe achieved revenue of $8.2 million in Q1-2026, compared to $8.0 million in Q1-2025, while achieving gross profit2 of $3.6 million, compared to $3.5 million in the same quarter last year. Tribe posted positive Adjusted EBITDA1 of $0.1 million in Q1-2026, compared to Adjusted EBITDA of $0.32 million in Q1-2025.
- Software and Services recurring revenue increased 7.9% year-over-year, driven by continued platform adoption, strong customer retention, and growing demand for Tribe’s recurring digital service offerings and integrated technology solutions.
- Tribe strengthened balance sheet and improved cash flow profile, with vendor take-back (VTB) obligations reduced by 69% and interest expense lowered by 39% year-over-year, reflecting continued deleveraging and disciplined capital management.
- Tribe’s Home Pro platform surpassed 1.5 million tracked deficiencies and warranty items across 300+ residential projects in Canada, strengthening its position in tech-enabled post-construction management.
VANCOUVER, BC, May 26, 2026 /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 first quarter for the three months ended March 31, 2026. 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, “Our first quarter results for 2026 demonstrate a steady operational foundation as we enter the new fiscal year. We delivered stable revenue of $8.2 million while continuing to advance the integration of our unified operating platform across the organization. We were also encouraged by the 7.9% year-over-year growth in our Software and Services recurring revenue, reflecting continued platform adoption, strong customer retention, and growing demand for our recurring digital service offerings. As we progress through 2026, we remain focused on re-accelerating growth across our national footprint by scaling our AI-enabled property management solutions, expanding adoption of Tribe Home, and increasing revenue per home through value-added services.”
Scott Ullrich, Tribe’s CFO, stated, “Our Q1-2026 performance reflects continued operational discipline and a strong focus on strengthening the Company’s financial position. During the quarter, we significantly improved our balance sheet and cash flow profile, reducing vendor take-back obligations by 69% and lowering interest expense by 39% year-over-year through disciplined debt management and optimization initiatives. We also expanded our gross profit margin2 to 44.2%, up from 43.5% in the same period last year, driven by targeted efficiency initiatives and ongoing cost management. Looking ahead, 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.”
Q1-2026 Financial Highlights:
- Revenue: Tribe achieved revenue of $8.2 million in the first quarter 2026; and increase of 3% compared to $8.0 million achieved in the first quarter of 2025.
- Gross profit2: Tribe achieved Gross profit of $3.6 million in the first quarter 2026; an increase of 4.5% compared to $3.5 million in the first quarter of 2025. Gross profit percentage2 was 44.2% in the first quarter of 2026, compared to Gross profit percentage of 43.5% in the first quarter of 2025. The increase in gross profit percentage was due to increased revenues while maintaining salary costs.
- Adjusted EBITDA1: Tribe achieved Adjusted EBITDA of $0.1 million in the first quarter 2026 compared to the Adjusted EBITDA of $0.32 million in the first quarter of 2025.
- Net loss: Tribe reported a net loss of $0.85 million in Q1-2026, compared to a net loss of $0.61 million in Q1-2025.
Events Subsequent to March 31, 2026:
- On May 19, 2026, the Company announced that its Home Pro platform surpassed 1.5 million tracked post-construction deficiencies and warranty-related items across more than 300 residential projects in Canada. Originally developed as a pre-delivery inspection tool, the platform has evolved into a comprehensive occupancy lifecycle solution supporting over 100 developers through real-time documentation, trade coordination, and post-occupancy warranty management.
Outlook:
Management remains confident that the Company will continue building momentum through 2026, supported by ongoing operational execution, disciplined cost management, and continued integration of recently amalgamated acquisitions. The Company remains focused on driving revenue growth, expanding margins, and improving profitability, while advancing its technology-first strategy.
Key priorities include:
- Innovating with AI capabilities: Integrate AI-driven tools into property management and digital services to improve efficiency, resident engagement, and data-driven decision-making.
- Enhancing profitability: Continue implementing operational efficiencies and leveraging technology to improve gross profits and strengthen Tribe’s Adjusted EBITDA profile.
- Increasing Organic Revenue Growth: Expand recurring software and service revenues through increased adoption of Tribe Home, growth in managed communities, expanded Home Pro deployments, and deeper penetration of value-added products and services across Tribe’s national platform.
- Pursuing strategic acquisitions: Evaluate and execute acquisitions that are immediately accretive and complement Tribe’s AI capabilities and national platform.
- Building strategic partnerships: Leverage the Tribe platform to create curated offers and services that support the daily …