Tribe Property Technologies With CEO, Joseph Nakhla

Stockhouse

The Market Online speaks with Tribe Property Technologies CEO, Joseph Nakhla, as Tribe Property Technologies Achieves Revenue of $8 million in Q1-2025.

Transcript

00:00Welcome to The Watchlist. I'm Lindsay Melchick. Well, Tribe Property Technology reported a strong

00:10quarterly report and announced quite the acquisition as well. Here with us to give

00:15us the details is CEO Joseph Nakla. Welcome, Joseph. All of this sounds like great news.

00:20Thank you so much. Great being with you. And yes, it's been a busy quarter again.

00:26Absolutely, it has. Now, as mentioned, Tribe reported that strong year-over-year revenue

00:32growth and also marked its second consecutive quarter of generating positive EBITDA. So,

00:37can you tell us a little bit about the strong results and really, how did you achieve that?

00:42Yeah, for those who don't know enough about us, we're obviously out to disrupt the property

00:48management space by way of our technology stack that we put into rental buildings,

00:54into condo communities. We are a national player. We're the third largest condo

00:58management company in Canada now. We're unique in that we deliver all of our services and our

01:04technology stack. We're also very large in managing rental communities across the country. So, 24 was

01:11a year where we amalgamated a lot of our activities, grew in a number of cities, and we told the street

01:18we're now with the scale that we have heading towards profitability. Now, this is the second

01:23quarter in a row, really built on the back of, obviously, growth in the greater Toronto area.

01:30The GTA market has been great for us, both on the condo and the rental side.

01:34Well, I mean, Joseph, let's talk about that acquisition announcement then. You know,

01:38give us the inside scoop of that transaction and how it fits in the overall growth of the strategy.

01:44A lot of this brand new condos, there's investors that are buying these units

01:48with the hope of actually, you know, maybe leaving them for the kids one day, but until then,

01:52they're going to rent them out. So, we actually went out and acquired a company called Ace Agencies.

01:58It's a fantastic company, great leadership, great operator. And what they're going to be doing for

02:04us is actually within the buildings that we manage, they're actually going to help those in those

02:09buildings that want to rent those single units out. And it's a much easier experience for you as a

02:15homeowner because you're already a part of the strata or the condo corporation within the community.

02:21And now it's much easier to actually take that unit out of the pool that exists there and actually

02:26rented it out on their behalf. It's a really needed service. It probably is more needed now.

02:32There is quite a bit of competition towards renting these units out. The inventory is increasing in the market.

02:38And we thought it was a great tuck-in for us to empower them just from the, you know,

02:43greater Vancouver area and actually let them spend their wings essentially and support us

02:48in all the markets nationally. I mean, whatever helps the housing market right now, I'm game.

02:54I'm here for all of it. Some great news for all of you guys. So, congratulations and come back

02:59so you can give us more updates soon. Thank you so much. Appreciate it.

03:02Again, that was Joseph Naklas, CEO of Tribe Property Technology.

03:06I encourage you to flip over to their website at tribetech.com to check out more information

03:12about them. I'm Lindsay Melchuk with Stockhouse Publishing. We will see you next time.

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