BeWhere Holdings Inc. Reports Second Quarter 2025 Fiscal Results

Toronto, Ontario--(Newsfile Corp. - August 28, 2025) - BeWhere (TSXV: BEW) (OTCQB: BEWFF) ("BeWhere" or the "Company"), a leading Mobile Internet of Things (M-IoT) company, is pleased to announce its financial results for three months ended June 30, 2025.

Owen Moore, CEO and Co-Founder stated, "Despite tariff uncertainties, we are pleased to report record quarterly sales of just above $5.5M, growing 28% compared to the prior year quarter, driven by the second highest quarter in our history in Product sales at $3.0M. We believe the strong unit sales speak to the increasing demand for our products, and the growing value proposition for asset tracking realized by our clients. Demand for our product is strong and bodes well for our recurring revenue growth in the coming quarters."

Chris Panczuk, COO and Co-Founder added, "While the current tariff environment has impacted our profitability, we have assessed many supply chain options and will be enacting our revised program to minimize tariffs starting in Q3. We ended the quarter in a solid financial position with $4.5M in cash on hand."

Second Quarter 2025 Highlights

• Record quarterly revenue increased by 28% year over year - Total Revenue for the three months ended June 30, 2025, was $5,519,689 compared to $4,320,672 for the same period in 2024: an increase of $1,199,017. This is a record quarter for the Company driven by the second highest quarter in Product revenues in the Company's history.

• Recurring Revenue increased by 21% year over year while ARR increased by 23% - Recurring Revenue for the three months ended June 30, 2025, was $2,005,455 compared to $1,660,689 for the same period in 2024: an increase of $344,766. Similarly, ARR (Annual Recurring Revenue) stands at approximately $8.2M ending June 30, 2025, vs. $6.6M for the same period in 2024, an increase of 23% year over year.

• Gross Profit increased by 2% year over year - Gross profit for the three months ended June 30, 2025, was $1,440,915 compared to $1,411,263 for the same period in 2024: an improvement of $29,652. Gross profit in 2025 has been impacted by higher tariff charges, amounting to approximately $425,000 in Q2.

• Adjusted EBITDA decreased by 42% year over year - Adjusted EBITDA for the three months ended June 30, 2025, was $326,565 compared to $566,317 for the same period in 2024: a decline of $239,752. Adjusted EBITDA was impacted by higher tariff costs, amounting to approximately $425,000 in Q2. The Company expects to mitigate most of this dollar cost impact from tariffs over the coming quarters as it executes on its revised supply chain program.

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 June 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.

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 June 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.sedar.com 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.

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