Toronto, Ontario--(Newsfile Corp. - August 20, 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 three months ended June 30, 2026.

The quarter helped demonstrate the profitable leverage in the Company's business model as it continues to scale its operations. BeWhere delivered record Gross Profit, EBITDA and Adjusted EBITDA, all driven by a favourable sales mix, and resulted in the second highest level of Comprehensive Net Income in the company's history. The Company ended the quarter with a strong balance sheet with cash and cash equivalents of $9.1M after accounting for the SecureQuip acquisition, aided by strong cash flow generation, and providing ample capital for the Company to execute on its near-term growth objectives.

Owen Moore, CEO and Co-Founder, stated, "The Company successfully delivered on its Key Performance Indicators (KPIs), delivering Annual Recurring Revenue (ARR) growth of 46% reaching over $12M while simultaneously yielding an Adjusted EBITDA margin of 19.3%." Chris Panczuk, COO and Co-Founder, commented, "The profitable growth of our business model was well evidenced this quarter as our Recurring Revenues grew by nearly $550k while our operating expenses increased by $160k. Our Recurring Revenue Gross Profit exceeded our total operating expenses by about $102k and our cash operating expenses by roughly $200k. The widening margin should continue to benefit both our bottom line and cash flow generation moving forward."

Second Quarter 2026 Highlights

• Recurring Revenue increased by 27% year over year – Total Recurring Revenue for the three months ended June 30, 2026, was $2,552,088 compared to $2,005,455 for the same period in 2025: an increase of $546,633.

• ARR increased by 46% year over year – ARR stands at just over $12.0M ending June 30, 2026, vs. $8.2M for the same period in 2025.

• Quarterly revenue decreased by 9% year over year – Total Revenue for the three months ended June 30, 2026, was $5,003,122 compared to $5,519,689 for the same period in 2025: a decrease of $516,567.

• Gross Profit increased by 53% year over year – Gross profit for the three months ended June 30, 2026, was a record $2,199,891 compared to $1,440,915 for the same period in 2025: an improvement of $758,976.

• EBITDA increased by 208% year over year – EBITDA for the three months ended June 30, 2026, was $844,566 compared to $274,610 for the same period in 2025: an improvement of $569,956. This is a record for the Company. Q2 2026 EBITDA margin was 16.9%.

• Adjusted EBITDA increased by 56% year over year – Adjusted EBITDA for the three months ended June 30, 2026, was $966,762 compared to $618,297 for the same period in 2025: an improvement of $348,465. This is a record for the Company. Q2 2026 Adjusted EBITDA margin was 19.3%.

• Total comprehensive net income increased materially year over year – Total comprehensive net income for the three months ended June 30, 2026, was $652,241, the second highest level in company history, compared to a net loss of $131,781 for the same period in 2025: an increase of $784,022.

• Working Capital increased by 78% year over year – The Company recorded working capital on June 30, 2026 of $12,960,338 compared to $7,280,250 for the same period in 2025: an increase of $5,680,088. At June 30, 2026, the cash and cash equivalents balance was $9,138,217 including net proceeds from a LIFE equity offering and after accounting for the SecureQuip acquisition compared to $4,496,026 for the same period in 2025.

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, 2026. 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.

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 unaudited Consolidated Financial Statements for the period ended June 30, 2026 and 2025, 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.

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Source: BeWhere Holdings Inc.