Business
Tribe Property Technologies reveals 34% improvement in adjusted EBITDA in 3Q 2023
(NewsDirect) Tribe Property Technologies CEO Joseph Nakhla and chief financial officer An...
About this update from Tribe Property Technologies Inc
[{"type":"text","content":"Tribe Property Technologies reveals 34% improvement in adjusted EBITDA in 3Q 2023\n \n \n (NewsDirect)\n \n \n \n \n Tribe Property Technologies CEO Joseph\nNakhla and chief financial officer Angelo Bartolini joined Steve\nDarling from Proactive to discuss the company's financial results\nfor the three and nine months ended September 30, 2023.\n \n \n The company has implemented operational\nimprovements and cost reduction strategies, resulting in a 34%\nyear-over-year improvement in Adjusted EBITDA.\n \n \n Nakhla highlighted the company's\noptimism for 2024, driven by the anticipated closing of the previously\nannounced Meritus Group acquisition and the increasing number of real\nestate development projects and new communities coming on board.\n \n \n During the quarter, Tribe Property\nTechnologies achieved key milestones, including signing agreements\nwith four new property developers to use the Tribe Home Pro\nconstruction software, bringing the total to 18 new property developer\nrelationships in the first nine months of 2023.\n \n \n Additionally, 15 new Tribe Home Pro\nsoftware licensing agreements were signed in Q3 for new construction\nprojects, totaling 29 software license agreements in the first nine\nmonths of 2023.\n \n \n Bartoli emphasized that despite concerns in the\nreal estate market and increasing interest rates, the company expects\ncontinued growth. Tribe has a robust pipeline of new development\nopportunities, strategic partnerships, and new software agreements.\nThe company is also actively negotiating additional acquisition\ntargets to further expand its reach.\n \n \n \n Contact\nDetails\n \n \n \n Proactive Investors Canada\n \n \n +1\n604-688-8158\n \n \n \n [email protected]\n \n \n \n Copyright (c) 2023 TheNewswire - All rights reserved.\n \n \n","length":2276,"tagName":"div"}]