Tenet Reports Q1-2026 Financial Results, Marking First Ever Profitable Quarter
Rhea-AI Summary
Tenet Fintech Group (OTC: PKKFF) reported its first-ever profitable quarter for Q1-2026. Revenue reached $11.54 million, up from $179,161 in Q1-2025, with net profit of $728,475 versus a prior loss. Operating cash flow was $458,000.
Profit drivers included renewed activity on the GoldRiver platform, a business model shift toward data, AI and analytics that reduced fixed operating costs, and reversal of a provision after a U.S. class action lawsuit was dismissed by plaintiffs. Tenet also expanded its Cubeler platform through feature enhancements and partnerships with seven new accounting and bookkeeping providers.
Positive
- Q1-2026 revenue rose to $11.54M from $179,161 in Q1-2025
- First quarterly net profit of $728,475 after prior-year net loss
- Positive operating cash flow of $458,000 in Q1-2026
- Lower fixed operating expenses from shift to data, AI and analytics
- GoldRiver supply-chain platform activity strengthened since Q4-2025
- Reversal of provision tied to dismissed U.S. class action lawsuit
- Seven new accounting/bookkeeping partners for Cubeler platform growth
Negative
- None.
News Market Reaction – PKKFF
In the Jun 25 session, PKKFF gained 42.00%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Toronto, Ontario--(Newsfile Corp. - June 24, 2026) - Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) ("Tenet" or the "Company"), today announced its financial results and operating highlights for the three-month period ended March 31, 2026. Tenet reported revenue of
Q1-2026 Key Financial Figures
Total Revenue of
$11.54 million Net Profit of
$728.48 thousand Cash flow from operations of
$458.00 thousand
Q1-2026 Operating Highlights
The net profit reported by Tenet for the quarter can be attributed to just a handful of significant factors. Those include: the strong return of activity on the Company's GoldRiver supply-chain platform, which began in Q4-2025, and continued during the quarter; the transition of the Company's business model to emphasize data, AI and analytics, which led to an important decrease in fixed operational expenses; and the reversal of a provision related to the U.S. class action lawsuit against the Company and two of its executive officers, which was dismissed by the plaintiffs during the quarter.
Some of Tenet's important achievements during the first quarter of 2026 to help bring the Company closer to its intended objective of becoming the global custodian of private SME data and leverage AI to become a global leader in business and economic intelligence include the following:
Various enhancements to the Company's Cubeler Business Development Platform's Networking and Insights modules.
Partnerships with 7 new accounting/bookkeeping service providers to bring more business client memberships to the Cubeler Business Development Platform.
Full details of the Company's first quarter 2026 financial results can be found in the Unaudited Condensed Interim Consolidated Financial Statements and Management's Discussion and Analysis (MD&A) for the three-month periods ended March 31, 2026 and 2025, which are available under the Company's profile at www.sedarplus.ca.
About Tenet Fintech Group Inc.:
Tenet Fintech Group Inc. is the parent company of a group of innovative financial technology (Fintech) and artificial intelligence (AI) companies. All references to Tenet in this news release, unless explicitly specified, include Tenet and all its subsidiaries. Tenet's subsidiaries offer various analytics and AI-based products and services to businesses, capital markets professionals, government agencies and financial institutions either through or leveraging data gathered by the Cubeler® Business Hub, a global ecosystem where analytics and AI are used to create opportunities and facilitate B2B transactions among its members. Please visit our website at: https://www.tenetfintech.com/.
For more information, please contact:
Tenet Fintech Group Inc.
Mayco Quiroz, Chief Operating Officer
514-340-7775 ext.: 510
investors@tenetfintech.com
CHF Capital Markets
Cathy Hume, CEO
416-868-1079 ext.: 251
cathy@chfir.com
Follow Tenet Fintech Group Inc. on social media:
X: @Tenet_Fintech
Facebook: @Tenet
LinkedIn: Tenet
YouTube: Tenet Fintech
Forward-looking information
Certain statements in this press release constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors which may cause actual results, performance or achievements of Tenet to be materially different from the outlook or any future results, performance or achievements implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements in this news release include, but are not limited to, holding company with significant operations in China; general economic and business conditions, including factors impacting the Company's business in China such as pandemics and COVID-19; legislative and/or regulatory developments; Global Financial conditions, repatriation of profits or transfer of funds from China to Canada, operations in foreign jurisdictions and possible exposure to corruption, bribery or civil unrest; actions by regulators; uncertainties of investigations, proceedings or other types of claims and litigation; timing and completion of capital programs; liquidity and capital resources, negative operating cash flow and additional funding, dilution from further financing; financial performance and timing of capital; and other risks detailed from time to time in reports filed by Tenet with securities regulators in Canada. Reference should also be made to Management's Discussion and Analysis (MD&A) in Tenet's annual and interim reports, Annual Information Form, filed with Canadian securities regulators and available via the System for Electronic Document Analysis and Retrieval (SEDAR+) under Tenet's profile at www.sedarplus.ca, for a description of major risk factors relating to Tenet. Although Tenet has attempted to identify certain factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking statements reflect information as of the date on which they are made. The Company assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event the Company does update any forward-looking statement, no inference should be made that the Company will make additional updates with respect to that statement, related matters, or any other forward-looking statement.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Pour consulter la version originale de ce communiqué de presse, visitez le https://www.newsfilecorp.com/release/302796