Tribe Property Technologies Ranked on the Deloitte Technology Fast 50™ and the Deloitte Technology Fast 500™
- Tribe Property Technologies ranked 45th position in Canada on Deloitte Technology Fast 50™ with 361% revenue growth from 2019 to 2022.
VANCOUVER, BC, Nov. 8, 2023 /CNW/ - Tribe Property Technologies Inc. (TSXV: TRBE) (OTCQB US: TRPTF) ("Tribe" or the "Company"), a leading provider of technology-enabled property management solutions, is pleased to announce its recognition for its rapid revenue growth as part of the 2023 Deloitte Technology Fast 50™ and the 2023 Deloitte Technology Fast 500™ award programs.
Celebrating its 26th anniversary, the Deloitte Technology Fast 50™ program recognizes Canada's 50 fastest-growing technology companies based on the highest revenue-growth percentage over the past four years. In Canada, Tribe ranked 45th, with a 361% revenue growth from 2019 to 2022. With this impressive revenue growth, Tribe was also ranked on the Deloitte North America Technology Fast 500™, joining a list of top-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America.
"We are honored to be recognized once again as one of Canada's fastest growing companies, a testament to Tribe's mission of providing the most comprehensive platform and services for all of the stakeholders within the multi-family living space – including real estate developers, owners, tenants, Boards, investors, and service providers," said Joseph Nakhla, CEO of Tribe. "Our commitment to modernizing the property management industry with tech-backed solutions is at the heart of our success to date and I'd like to thank our team for their remarkable dedication and expertise in helping us achieve our goals. Looking ahead, Tribe remains committed to its strategic plan for national expansion, solidifying its presence across key markets, and driving profitability. This positions the Company for accelerated growth in the coming years, as we continue to innovate and lead in the property management and community living space."
"It's inspiring how this year's exceptional cohort of the Technology Fast 50 winners have delivered outstanding revenue growth even in the face of prevailing uncertainties in the economy and marketplace," commented Anders McKenzie, partner and national leader for the Technology Fast 50 program at Deloitte Canada. "Fueled by exemplary innovation, creativity, resilience, adaptability, along with superior business leadership, these companies are paving the way as catalysts in their respective sectors and delivering growth and value to the Canadian economy both at home and beyond."
The Deloitte Technology Fast 50 program winners consist of public and private companies in the technology sector that are transforming the industry. The program runs alongside the broader Deloitte North American Technology Fast 500™, with winners automatically eligible for this elite ranking.
About the Deloitte Technology Fast 50™ program
The Deloitte Technology Fast 50 program is Canada's pre-eminent technology awards program. Celebrating its 26th anniversary, the program recognizes business growth, innovation, and entrepreneurship in four distinct categories: Technology Fast 50 ranking, Enterprise—Industry leaders, Clean Technology, and Companies-to-Watch. The program also recognizes companies within the North American Technology Fast 500 ranking, identifying thriving technology companies in the United States and Canada. The 2023 program sponsors include Deloitte, RBCx, Osler, EDC, CCI, TMX, Clarity, and Lafond. For further information, visit www.fast50.ca.
Now in its 29th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2019 to 2022.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least US$50,000, and current-year operating revenues of at least US$5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
Tribe is a property technology company that is digitizing the traditional property management industry. As a rapidly growing tech-forward property management company, Tribe's integrated service-technology delivery model serves the needs of a much wider variety of stakeholders than traditional service providers. Tribe's three revenue pillars are made up of software and service (recurring licensing and management fees), transactional (rent or condo fees, banking services, lease-ups) and digital services and partnership (smart building products, financial and insurance service) revenue. Tribe seeks to acquire highly accretive targets in the fragmented North American property management industry and transform these businesses through streamlining and digitization of operations. Tribe's platform decreases customer acquisition costs, increases retention, and allows for the addition of value-added products and services through the platform. Visit tribetech.com for more information.
Tribe Property Technologies Ltd.
"Joseph Nakhla"
Chief Executive Officer
Tribe Property Technologies Inc.
Joseph Nakhla
Chief Executive Officer
1606-1166 Alberni Street
Vancouver, British Columbia V6E 3Z3
Phone: (604) 343-2601
Email: [email protected]
Cautionary Statement on Forward-Looking Information
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws regarding the Company and its business. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Forward-looking statements or information in this news relate may relate to statements with respect to; the aims and goals of the Company; financial projections; growth plans including future prospective consolidation in the rental management sector; future acquisitions by the Company; prospective benefits of the Company's platform; and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward- looking statements. The Company does not intend, and do not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
SOURCE Tribe Property Technologies Inc.
Pardeep Sangha, Investor Relations, Email: [email protected]
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