Business
Route1 Announces Business Updates and Its Financial Results for the Three and Nine Months Ended September 30, 2025
TORONTO, ONTARIO / ACCESS Newswire / November 20, 2025 / Route1 Inc . ( TSXV:ROI ) ( "Route1"...
About this update from Route1 Inc.
[{"type":"text","content":"Route1 Announces Business Updates and Its Financial Results for the Three and Nine Months Ended September 30, 2025TORONTO, ONTARIO / ACCESS Newswire / November 20, 2025 / Route1 Inc. (TSXV:ROI) (\"Route1\" or the \"Company\"), a leading engineering and professional services firm specializing in the deployment and integration of advanced data capture-based technologies, and actionable business intelligence (\"ABI\") to city, state, and federal first responder departments, public safety and parking managers, today provided important business updates and reported its financial results for the three- and nine-month periods ended September 30, 2025.Q3-25 operating results commentary:Launched Route1 ABI.Grew quarterly ALPR support contract revenue beyond USD $300,000 per quarter, annualized recurring revenue of USD $1.2 million.Quarterly growth in ALPR end users, average ALPR support contract value and introduction of Route1 ABI.Monetized employee retention credits for USD $226,000 and USD $471,000 year to date.Strong working capital improvement for the second consecutive quarter, the Company's working capital deficiency has improved by $817,000 over the last six months and $419,000 in the third quarter alone.For the second consecutive quarter, the total bank indebtedness and notes payable balance decreased; in aggregate, bank indebtedness was reduced by $202,000 over the last two quarters.Q3 2025 FINANCIAL RESULTSStatement of operationsIn 000s of CAD dollars Q32025 Q22025 Q12025 Q42024 Q32024 Revenue Subscription and services $1,203 $1,465 $1,327 $1,130 $1,417 Devices and appliances 1,759 2,233 906 2,804 2,301 Other (7) (8) - (3) (12)Total revenue 2,954 3,691 2,234 3,931 3,706 Cost of revenue 1,775 2,343 1,324 2,542 2,376 Gross profit 1,179 1,348 910 1,389 1,331 Operating expenses 1,136 1,274 1,306 1,464 1,418 Operating profit 1 43 74 (395) (75) (87)Total other expenses (income) 2 (209) 135 181 226 196 Net income (loss) $252 $(61) $(214) $(301) $(283)1 Before stock-based compensation. The last quarter of stock-based compensation expenses was Q4-24.2 Includes gain or loss on asset disposal, stock-based compensation expense, gain on sale of employee retention credits, interest expense, income tax recovery, foreign exchange loss or gain, other expenses.Adjusted EBITDA 3In thousands of Canadian dollars Q32025 Q22025 Q12025 Q42024 Q32024 ...