BeWhere Holdings Inc. Reports Third Quarter 2025 Fiscal Results

Rhea-AI Summary

BeWhere (OTCQB: BEWFF / TSXV: BEW) reported record third-quarter fiscal 2025 results for the three months ended September 30, 2025. Total revenue rose 21% year‑over‑year to $6,080,984, driven by record product sales and favorable device mix. Recurring revenue increased 20% to $2,057,047, and ARR grew 21% to approximately $8.6M. Gross profit improved 42% to $2,023,442. Adjusted EBITDA was a record $802,880 (up 21% YoY) and net income rose 38% to $462,662. Management credited supply‑chain initiatives for margin gains.

Positive

• Total revenue +21% YoY to $6,080,984
• ARR +21% YoY to approximately $8.6M
• Recurring revenue +20% YoY to $2,057,047
• Gross profit +42% YoY to $2,023,442
• Adjusted EBITDA +21% YoY to $802,880
• Net income +38% YoY to $462,662

Negative

• None.

News Market Reaction

+12.73%

1 alert

+12.73% News Effect

On the day this news was published, BEWFF gained 12.73%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Q3 2025 total revenue: $6,080,984 Q3 2024 total revenue: $5,030,356 Q3 2025 recurring revenue: $2,057,047 +5 more

8 metrics

Q3 2025 total revenue $6,080,984 Three months ended September 30, 2025; up 21% YoY

Q3 2024 total revenue $5,030,356 Three months ended September 30, 2024 comparator

Q3 2025 recurring revenue $2,057,047 Three months ended September 30, 2025; up 20% YoY

ARR $8.6M Annual Recurring Revenue as of September 30, 2025; up 21% YoY

Q3 2025 gross profit $2,023,442 Three months ended September 30, 2025; up 42% YoY

Q3 2025 Adjusted EBITDA $802,880 Three months ended September 30, 2025; record, up 21% YoY

Q3 2025 net income $462,662 Three months ended September 30, 2025; up 38% YoY

ARR prior year $7.1M ARR as of September 30, 2024 comparator

Market Reality Check

Price: $0.6498 Vol: Volume 14,400 is roughly ...

normal vol

$0.6498 Last Close

Volume Volume 14,400 is roughly in line with 20-day average 14,574, suggesting typical trading interest pre‑news. normal

Technical Price at $0.60 is trading above 200-day MA of $0.54, indicating a pre-existing upward bias before these results.

Peers on Argus

BEWFF gained 4.31% while close peers like VMNT (-2.3%) and KPIFF (-1.75%) were d...

BEWFF gained 4.31% while close peers like VMNT (-2.3%) and KPIFF (-1.75%) were down and others were flat, pointing to company-specific strength rather than a sector-wide move.

Historical Context

5 past events · Latest: Nov 26 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Nov 26	Quarterly results	Positive	+12.7%	Record Q3 revenue, higher ARR, margin improvement, and record Adjusted EBITDA.
Oct 28	Technology milestone	Positive	+14.1%	Successful LTE IoT device connection to AST SpaceMobile’s direct-to-device satellite.
Sep 10	Customer deployment	Positive	+5.4%	Large trailer fleet deployment using BeSol+ trackers and web app across North America.
Aug 28	Large device order	Positive	-2.2%	Order for 8,000 FirstNet-connected BeMini trackers for public safety use.
Aug 28	Quarterly results	Neutral	-2.2%	Record Q2 revenue but weaker EBITDA due to tariff costs and margin pressure.

Pattern Detected

News impact has mostly aligned with fundamentals, with four aligned reactions and one divergence where a positive order announcement saw a negative move.

Recent Company History

This announcement continues a series of operational and commercial milestones for BeWhere. In Q2 2025, the company reported record revenue of $5.52M but faced tariff-driven margin pressure. Subsequent news in August and September 2025 highlighted a large 8,000-unit BeMini order and a major fleet deployment. The October satellite connectivity test further expanded technical validation. Today’s Q3 2025 results show record revenue, significantly improved gross profit, and record Adjusted EBITDA, demonstrating follow‑through on prior supply-chain plans.

Market Pulse Summary

The stock surged +12.7% in the session following this news. A strong positive reaction aligns with t...

Analysis

The stock surged +12.7% in the session following this news. A strong positive reaction aligns with the company’s pattern of responding well to operational milestones and solid earnings. Q3 2025 delivered record revenue of $6.08M, gross profit growth of 42%, and record Adjusted EBITDA of $802,880. However, past divergence after seemingly positive order news suggests that enthusiasm sometimes faded, so investors have historically watched margin trends and execution on large contracts closely.

Key Terms

annual recurring revenue (arr), adjusted ebitda, non-ifrs, ifrs

4 terms

annual recurring revenue (arr) financial

"Recurring Revenue increased by 20% year over year while ARR increased by 21% -"

Annual Recurring Revenue (ARR) is the predictable amount of money a company expects to earn in a year from its ongoing services or subscriptions. It helps businesses understand their steady income stream, much like knowing how much rent they can count on each year, which is important for planning and growth.

adjusted ebitda financial

"record Quarterly Adjusted EBITDA of $0.8M and a significant improvement in Gross Profit"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

non-ifrs financial

"Adjusted EBITDA is a non-IFRS measure and does not have standardized meaning"

Non-IFRS refers to financial measures that companies report outside the standard accounting rules set by the International Financial Reporting Standards; these figures exclude or adjust certain items such as one-time costs, stock-based pay, or restructuring charges. Investors care because non-IFRS numbers try to show the business’s underlying performance — like a chef presenting a dish with optional toppings removed to highlight the core flavor — but they can be shaped to look more favorable, so compare them with the official IFRS statements.

ifrs financial

"Adjusted EBITDA should not be considered superior to IFRS net income (loss)."

International Financial Reporting Standards (IFRS) are a set of common accounting rules used by many companies worldwide to prepare financial statements, so numbers like revenue, profit and assets are measured in the same way across borders. For investors, IFRS matters because it makes it easier to compare the financial health and performance of different companies—like using the same ruler to measure different objects—reducing surprises and helping informed investment decisions.

AI-generated analysis. Not financial advice.

Toronto, Ontario--(Newsfile Corp. - November 26, 2025) - BeWhere (TSXV: BEW) (OTCQB: BEWFF) ("BeWhere" or the "Company"), a leader in low-power 5G IoT asset tracking, is pleased to announce its financial results for three months ended September 30, 2025.

Owen Moore, CEO and Co-Founder stated, "This quarter showcases the strength of our execution, the torque in our business model and an unrelenting drive to disrupt the asset tracking and inventory management markets with innovative products and solutions at unprecedented price points. We achieved record product sales and continued to increase Annual Recurring Revenue (ARR), culminating in record Quarterly Revenue of $6.1M".

Chris Panczuk, COO and Co-Founder stated, "In addition to record top-line performance, our team delivered record Quarterly Adjusted EBITDA of $0.8M and a significant improvement in Gross Profit, increasing 42% year over year, aided by revised supply chain initiatives".

Third Quarter 2025 Highlights

• Record quarterly revenue increased by 21% year over year - Total Revenue for the three months ended September 30, 2025, was $6,080,984 compared to $5,030,356 for the same period in 2024: an increase of $1,050,628. This is a record quarter for the Company driven by the highest quarter in Product revenues in the Company's history aided by a favorable device sales mix and the second highest unit volume shipment.

• Recurring Revenue increased by 20% year over year while ARR increased by 21% - Recurring Revenue for the three months ended September 30, 2025, was $2,057,047 compared to $1,717,274 for the same period in 2024: an increase of $339,773. Similarly, ARR stands at approximately $8.6M ending September 30, 2025, vs. $7.1M for the same period in 2024, an increase of 21% year over year.

• Gross Profit increased by 42% year over year - Gross profit for the three months ended September 30, 2025, was $2,023,442 compared to $1,422,142 for the same period in 2024: an improvement of $601,300., The Company was able to improve its gross profits versus Q2 as it began to implement its revised supply chain program.

• Record Adjusted EBITDA increased by 21% year over year - Record Adjusted EBITDA for the three months ended September 30, 2025, was $802,880 compared to $665,450 for the same period in 2024: an increase of $137,430.

• Net Income increased by 38% year over year - Net income for the three months ended September 30, 2025 was $462,662 compared to $334,590 for the same period in 2024: an improvement of $128,072.

Non-IFRS Measures

Adjusted EBITDA is a non-IFRS measure and does not have standardized meaning as it relates to performance measures and may not be comparable to other issuer disclosures of similar performance measures. The Company has provided a reconciliation of Adjusted EBITDA to IFRS profit (loss) in the Management's Discussion and Analysis for the period ended September 30, 2025. Adjusted EBITDA is defined as earnings before interest income, taxes, depreciation and amortization, share-based compensation, and other non-recurring gains and losses. Management believes that Adjusted EBITDA is a useful measure that facilitates period to period operating comparisons. Adjusted EBITDA should not be considered superior to IFRS net income (loss).

About BeWhere

BeWhere (TSXV: BEW) (OTCQB: BEWFF) specializes in low-power 5G IoT wide-area tracking technology, creating remote monitoring solutions that address cost, power, and environmental challenges. Over the last 6 years, the company has experienced rapid growth, collaborating with Fortune 500 companies, top resellers and installers to deploy hundreds of thousands of trackers across numerous sectors, including transportation, construction, logistics, utilities, health, and government.

BeWhere's tracking solutions are designed to be both cost-effective and simple to implement, significantly expanding the scope of assets that can be connected. These connected devices generate data that powers intelligent AI management platforms. By increasing the number of connected devices, BeWhere enhances the capabilities and growth potential of AI solutions.

CONTACT INFORMATION
BeWhere Inc.
Margaux Berry, Chief Strategy Officer
IR@bewhere.com
For more information, visit www.BeWhere.com or follow BeWhere on LinkedIn, Facebook, and YouTube

Cautionary Statements Regarding Forward-Looking Information
Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance, are "forward-looking statements".

We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements. Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including technology development, anticipated revenues, projected size of market, and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

BeWhere Holdings Inc. (the "Company") does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, technology development and marketing activities, the Company's historical experience with technology development, uninsured risks. Actual results may differ materially from those expressed or implied by such forward-looking statements.

The Company's audited Consolidated Financial Statements for the period ended September 30, 2025 and 2024, together with its corresponding Management's discussion and analysis can be found under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.bewhere.com.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (as that term is defined in the Policies of the TSX Venture Exchange) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276005

FAQ

What were BeWhere (BEWFF) third-quarter 2025 total revenues and growth?

BeWhere reported $6,080,984 in Q3 2025 revenue, a 21% increase year‑over‑year.

How much did BeWhere (BEWFF) ARR increase as of September 30, 2025?

ARR was approximately $8.6M as of September 30, 2025, up 21% year‑over‑year.

What was BeWhere's (BEWFF) Q3 2025 Adjusted EBITDA and YoY change?

Adjusted EBITDA for Q3 2025 was $802,880, up 21% versus Q3 2024.

How did BeWhere (BEWFF) margins perform in Q3 2025?

Gross profit improved to $2,023,442, a 42% increase year‑over‑year, aided by supply‑chain initiatives.

What was BeWhere's (BEWFF) Q3 2025 net income?

Net income for Q3 2025 was $462,662, a 38% increase year‑over‑year.