Tribe Property Technologies CEO Joseph Nakhla says his company took a significant step toward profitability with its latest financial results on Tuesday.

The Vancouver-based software developer for building, managing and living in condo and rental buildings sees its AI-enhanced platform driving growth despite challenges in Canada’s housing real estate market.

Tribe reported financial results on Tuesday for fiscal 2025, and the three months ended Dec. 31. Fiscal 2025 marked the company’s first full year of positive adjusted EBITDA. Speaking on a conference call with investors on Tuesday morning, Nakhla said the results mark a “turning point” as the company nears profitability.

“We obviously expanded our presence greatly in the GTA market. Through (2025) we were able to diversify our income from both rental versus condo, and geographically as well,” he said. “Hopefully, within this year, we’ll get to this point of being a cash-flow-positive company.”

Chief financial officer Scott Ullrich forecasts this will happen in late 2026, or early 2027.

Tribe's products and services

Tribe sells a suite of software solutions for multifamily residential buildings. For residents, the company's app manages tasks like payments, and booking amenities like party rooms or elevators for moving. The company’s other products aid developers during construction, provide building health data to property managers, and automate administrative back office tasks.

“Despite the different economic constraints, we’ve been able to forge along with our plans,” Nakhla said during Tuesday's call. “We’re now the third-largest national condo (management) player in Canada, and the second-largest national player in rental management.”

According to Tribe’s latest financial results, higher software and service fees boosted sales last year, following a pair of acquisitions. Revenue jumped 16 per cent year-over-year to $32.7 million. 

Tribe reported its net loss for fiscal 2025 narrowed over 40 per cent on an annualized basis, shrinking to $4.48 million from $7.54 million in 2024. However, the company’s quarterly net loss grew to $1.42 million, versus $1.29 million for the prior three months.

Advancement of artificial intelligence has created a massive cloud of uncertainty over software-focused businesses like Tribe. On Tuesday, Nakhla said his company plans to use AI to leverage its vast trove of data.

“We have arguably the largest platform of condo management and rental management now in the country. Nobody has a platform like ours that serves both types of customers,” he said. “The amount of data that we’re sitting on is incredible.”

Existing properties contribute to growth

Nakhla also told investors Tribe’s growth is not tied exclusively to new buildings breaking ground.

“We’re not dependent on new construction. We have a significant amount of revenue that comes from existing buildings,” he said. “These buildings’ operating expenses are much better than peers in the market.”

Nakhla said he is “very bullish” on the federal government’s efforts to improve home affordability and supply. He added that Tribe recently provided data to the Canadian Chamber of Commerce to assist its affordability analysis.

"Our goal there is to really explain that affordability isn't just a function of construction only, and how much per square foot is available," Nakhla said. "Our goal is really to shed light on the operating expenses post construction."

He also praised the federal Build Canada Homes program, which aims to double the rate of housing construction by bypassing traditional bottlenecks.

“Overall, the country is doing the right moves. (But) there’s no doubt there’s uncertainty,” Nakhla said. “We’re not really affected by it."

“I've always said it. I'll continue to say it. We’re pandemic proof, interest rate proof, you know, recession proof,” he added. "This is the way people are going to live for decades to come.

"That is the new norm."

Tribe's shares fell over 12 per cent on the TSX Venture Exchange on Tuesday. The stock has dropped more than 60 per cent over the past 12 months.