Tribe Property Technologies (TRBE) investor relations material

Scale and market position

• Third-largest national condo manager in Canada, with $44B in assets under management, 700+ buildings and operations in 10 cities.

• Residential management spans condo communities, rental buildings and REIT portfolios; roughly one in four Canadians lives in a condo.

• Manages $600M-$700M in community cash annually, supporting budgets and decisions on operations, maintenance and capital spending.

• Canadian revenue mix is about 40% B.C., 20% Alberta and 40% Ontario; Ontario is expected to grow as the market footprint develops.

Technology and operating model

• Tribe Home Pro supports developer walkthroughs, deficiency tracking and work orders, then transitions into a resident app for building information, payments, amenities and voting.

• Tribe AI benchmarks building performance against peers; management said supported buildings spend less per square foot across multiple areas, including energy, insurance and administration.

• The platform receives 55,000 homeowner, tenant and landlord inquiries every 90 days; an estimated 65%-70% may be handled through workflows without human intervention.

• Remote management averages nearly 12 buildings per property manager across the portfolio; the Toronto core's traditional 1:1 model was described as potentially moving toward 3:1 or 4:1.

• AI workflows are already affecting cost of goods, with further impact expected over the next few quarters.

Revenue and profitability

• Revenue per door averages nearly $49 per month: about $35 recurring and $11 from transactions; traditional management averages about $22, with 30%-35% gross margin.

• Revenue is typically 80% recurring and 20% transactional, with the transactional share ranging from 17% to 22%.

• Gross margin is in the mid-40% range, versus 30%-35% for traditional managers; the stated goal is the mid-50% range.

• CEO said EBITDA positivity is sustainable and that the business has reached the point where it is behind them; debt and interest expense have declined over the past 12 months.

• Priorities are continued debt reduction, cash-flow positivity and organic growth; cash-flow positivity was described as in sight.