Toronto, Ontario--(Newsfile Corp. - April 28, 2026) - 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 the three and twelve months ended December 31, 2025.

Owen Moore, CEO and Co-Founder stated, "We enter 2026 on the back of record Revenue, Gross Profit and Adjusted EBITDA in 2025, the strongest Q4 in the company's history including a record level in quarterly Adjusted EBITDA and an upcoming product refresh cycle at attractive industry price points that we believe will foster demand."

Chris Panczuk, COO and Co-Founder stated, "2025 offered operating challenges, namely from tariffs, that at present we have overcome with our revised supply chain program. More importantly, in Q4 we surpassed a key operating leverage threshold for the third time in Company history as quarterly Gross Profit from Recurring Revenue exceeded our operating expenses. This was last achieved in Q4 of 2024 and bodes well for improved profitability going forward as we further scale our Product and Recurring Revenues."

FY 2025 Highlights

• Total Revenue increased by 22% year over year – Total Revenue for the twelve months ended December 31, 2025, was $21,457,997 compared to $17,531,574 for the same period in 2024: an increase of $3,926,423. This is a record level for the Company.

• Recurring Revenue increased by 22% year over year – Total Recurring Revenue for the twelve months ended December 31, 2025, was $8,444,457 compared to $6,921,208 for the same period in 2024: an increase of $1,523,249.

• Gross Profit grew by 21% year over year – Gross profit for the twelve months ended December 31, 2025, was $7,065,339 compared to $5,825,293 for the same period in 2024: an improvement of $1,240,046. This is a record level for the Company.

• Adjusted EBITDA increased by 5% year over year – Total EBITDA for the twelve months ended December 31, 2025, was $2,248,860 compared to $2,138,956 for the same period in 2024: an increase of $109,904. This is a record level for the Company.

• Working Capital grew by 9% year over year – The Company recorded working capital on December 31, 2025 of $8,503,177 compared to $7,822,570 for the same period in 2024: an increase of $680,607.

Fourth Quarter 2025 Highlights

• Total Revenue increased by 19% year over year – Total Revenue for three months ended December 31, 2025, was $5,642,531 compared to $4,680,409 for the same period in 2024: an increase of $962,122. This is a record fourth quarter for the Company.

• Recurring Revenue increased by 14% year over year – Total Recurring Revenue for three months ended December 31, 2025, was $2,239,645 compared to $2,007,702 for the same period in 2024: an increase of $231,943. ARR (Annual Recurring Revenue) stands at approximately $8.9M ending December 31, 2025, vs. $7.8M for the same period in 2024, an increase of 14% year over year.

• Gross Profit grew by 25% year over year – Gross profit for the three months ended December 31, 2025, was $2,004,989 compared to $1,648,556 for the same period in 2024: an improvement of $356,433.

• Adjusted EBITDA increased by 52% year over year – EBITDA for the three months ended December 31, 2025, $835,102 compared to $549,488 for the same period in 2024: an improvement of $285,614. This is a record level for quarterly Adjusted EBITDA.

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 December 31, 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 December 31, 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/294565

Source: BeWhere Holdings Inc.