(NewsDirect)
Tribe Property Technologies CEO JosephNakhla and chief financial officer Angelo Bartolini joined SteveDarling from Proactive to discuss the company's financial resultsfor the three and nine months ended September 30, 2023.
The company has implemented operationalimprovements and cost reduction strategies, resulting in a 34%year-over-year improvement in Adjusted EBITDA.
Nakhla highlighted the company'soptimism for 2024, driven by the anticipated closing of the previouslyannounced Meritus Group acquisition and the increasing number of realestate development projects and new communities coming on board.
During the quarter, Tribe PropertyTechnologies achieved key milestones, including signing agreementswith four new property developers to use the Tribe Home Proconstruction software, bringing the total to 18 new property developerrelationships in the first nine months of 2023.
Additionally, 15 new Tribe Home Prosoftware licensing agreements were signed in Q3 for new constructionprojects, totaling 29 software license agreements in the first ninemonths of 2023.
Bartoli emphasized that despite concerns in thereal estate market and increasing interest rates, the company expectscontinued growth. Tribe has a robust pipeline of new developmentopportunities, strategic partnerships, and new software agreements.The company is also actively negotiating additional acquisitiontargets to further expand its reach.
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