AmeriTrust Announces First Quarter 2026 Financial Results

About this update from Ameritrust Financial Technologies Inc.

TORONTO, ON / ACCESS Newswire / May 27, 2026 / AmeriTrust Financial Technologies Inc. (TSXV:AMT)(OTCQB:AMTFF)(Frankfurt:1ZVA) ("AmeriTrust", "AMT" or the "Company"), a fintech platform focused on automotive finance, announces that it has filed its interim Consolidated Financial Statements and Management's Discussion and Analysis ("MD&A") for the three months ended March 31, 2026. These documents are available under the Company's profile on SEDAR+. Cash on hand at March 31, 2026, was $35,852,002 compared to $36,968,923 at December 31, 2025. At March 31, 2026, the Company reported working capital of $29,355,544 compared to $30,417,979 at December 31, 2025. Revenue for the first quarter of 2026 increased 36% compared to Q4 2025 and increased 19% compared to Q1 2025. Adjusted EBITDA loss for the first quarter of 2026 increased compared to Q1 2025, primarily due to operating expenses associated with the restart of lease originations. Jeff Morgan, Chief Executive Officer of AmeriTrust, commented: "I am pleased to report that AmeriTrust commenced both lease originations in late January and the initial testing of AmeriTrust Auto remarketing operations in the first quarter. The results to date have outperformed internal expectations and conform to our strategic long-term plan to become one of the largest new and used-vehicle leasing platforms in the U.S." During the first quarter, with a focused group of active dealers, AmeriTrust's proprietary portal received 1,430 applications representing approximately $56 million in potential funding opportunities, approved or conditionally approved 191 consumer applications, and funded 16 lease contracts. With a focus on testing, systems and processes following the launch, AmeriTrust was extremely selective in initial approvals and funded deals. The Company applied a disciplined underwriting strategy to build a prime+ portfolio of high-quality initial lease contracts. During the first quarter, the weighted average credit score of funded customers was 752, the weighted average contract rate was 8.71%, and the weighted average net capitalized cost (amount financed) of the lease contracts was $88,059. Over time the Company anticipates a materially higher look to book ratio (funded deals/applications), resulting in better closing ratios and significantly stronger o...

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