Edmonton, Alberta--(Newsfile Corp. - November 5, 2026) - Global Receivables Management Inc. (TSXV: GRMI) (OTCQB: GRMIF) ("GRM" or the "Company") today reported financial results for the three and nine months ended September 30, 2026. Total revenue from continuing operations increased 16% to $21.9 million for the third quarter, compared to $18.8 million in the same period of 2025. For the nine months ended September 30, 2026, total revenue from continuing operations increased 23% to $63.4 million, compared to $51.6 million in the same period of 2025, reflecting organic client growth and the contribution of the ACT Credit Management Limited ("ACT") acquisition.

Adjusted EBITDA from continuing operations improved sequentially, to $1.5 million for the third quarter of 2026 from $0.9 million for the second quarter and $0.5 million for the first quarter of 2026. On a comparable basis, after excluding $1.1 million of suspense and overpayment income recognized in the third quarter of 2025, Adjusted EBITDA was $1.5 million for the third quarter of 2026, in line with the same period of 2025, and $2.9 million for the nine months ended September 30, 2026, compared to $3.7 million for the same period of 2025. Management expects Adjusted EBITDA to continue to improve as the investment in fee-earning capacity and newly signed client mandates convert into revenue, although this is a forward-looking statement and there can be no assurance that actual results will not differ materially from this expectation.

Gordon Reykdal Appointed Chairman of the Board and Chief Executive Officer

The Company announces that Gordon Reykdal has been appointed Chairman of the Board and Chief Executive Officer of the Company, effective November 5, 2026. Graham Rankin has resigned as Chairman of the Board, Co-Chief Executive Officer (UK) and as a director of the Company, effective the same date.

"On behalf of the Board, I thank Graham for his leadership as Chairman and Co-CEO. Graham played a central role in building our United Kingdom platform, including the acquisitions of EPFS, CCS, and ACT. With GRM now focused entirely on receivables management, I look forward to working with Barret and the team to continue growing revenue and Adjusted EBITDA," said Gordon Reykdal, Chairman of the Board and Chief Executive Officer of the Company.

"Our third quarter shows the investment we made earlier this year converting into results. Revenue grew 16% year-over-year and Adjusted EBITDA improved for the second consecutive quarter, to $1.5 million from $0.9 million in the second quarter. And our previously announced client contracts are expected to add up to $6.0 million in annualized revenue with 15% net margin, once fully onboarded, reflecting the strength of our client pipeline," said Barret Reykdal, President and Chief Operating Officer of the Company.

"GRM enters the final quarter of 2026 as a focused global receivables management platform, positioned to continue growing revenue and Adjusted EBITDA," said Gordon Reykdal, Chairman of the Board and Chief Executive Officer of the Company.

This news release should be read in conjunction with the Company's unaudited interim condensed consolidated financial statements and Management's Discussion and Analysis ("MD&A") for the three and nine months ended September 30, 2026, which have been filed under the Company's profile on SEDAR+ at www.sedarplus.ca. All figures are in Canadian dollars unless otherwise stated.

Third Quarter 2026 Financial Summary

(1) Non-IFRS measure. See "Non-IFRS Measures" and the reconciliations below.

Adjusted EBITDA from Continuing Operations

(2) For comparative purposes, Adjusted EBITDA for the three and nine months ended September 30, 2025 has been adjusted to exclude $1.1 million and $2.5 million, respectively, of suspense and overpayment income. For the three and nine months ended September 30, 2026, $0.1 million and $0.2 million, respectively, has been excluded. This item relates entirely to the Company's GRM subsidiaries and does not affect the Corporate segment.

Adjusted EBITDA – GRM

See note (2) above.

Adjusted EBITDA – Corporate

The Corporate segment was not affected by the suspense and overpayment income comparability adjustment.

On a comparable basis, after excluding suspense and overpayment income, Adjusted EBITDA from the Company's GRM segment was $2.1 million for the third quarter of 2026, compared to $2.2 million for the same period of 2025 (a decrease of 5%, compared to a decrease of approximately 35% on a reported basis), primarily reflecting the incremental salary investment in fee-earning capacity discussed above. Adjusted EBITDA from the Corporate segment, which comprises head-office and other non-operating costs, improved to $(0.6) million for the third quarter of 2026 from $(0.7) million for the same period of 2025.

Other Management Change

The Company also announces the following management change, effective November 5, 2026:

• President and Chief Operating Officer: Barret Reykdal, previously Co-Chief Executive Officer (North America) has been appointed President and Chief Operating Officer of the Company.

Non-IFRS Measures

This news release refers to Adjusted EBITDA from continuing operations, Adjusted EBITDA – GRM, Adjusted EBITDA – Corporate and Adjusted EBTDA, which are non-IFRS financial measures. These measures do not have standardized meanings under IFRS and may not be comparable to similar measures presented by other issuers.

The Company calculates Adjusted EBITDA as net profit (loss) before tax, adjusted to add back depreciation and amortization, finance costs, share-based compensation, acquisition costs, impairment losses, other expenses (income), loss (gain) on contingent consideration, bargain purchase expense (gain) and certain one-time items, and excluding suspense and overpayment income for comparability. Adjusted EBTDA is Adjusted EBITDA less finance costs. Adjusted EBITDA – GRM reflects the results of the Company's operating subsidiaries; Adjusted EBITDA – Corporate reflects head-office and other non-operating costs; and Adjusted EBITDA from continuing operations is the consolidated measure. Management uses these measures to evaluate the operating performance of the business and believes they help investors compare results between periods.

The most directly comparable IFRS measure is net profit (loss) before tax. Reconciliations of each measure to net profit (loss) before tax are set out in the tables above and in the Company's MD&A for the three and nine months ended September 30, 2026, available under the Company's profile on SEDAR+ at www.sedarplus.ca.

About Global Receivables Management Inc.

Global Receivables Management Inc. is a pure-play tech-enabled platform company, providing fee-for-service receivables management and debt collection services across Canada and the United Kingdom. First established in 1975, the Company has a workforce of over 700 professionals operating across Canada and the United Kingdom that is in the early stages of deploying AI across its operations to improve efficiency.

The Company's global receivables management platform operating under BPO, EPFS, CCS, ACT, GCS, and Groupe Solution helps organizations recover receivables and streamline billing processes without purchasing consumer debt. Founded on the belief that everyone deserves a second chance to financially reestablish themselves, the Company is committed to responsible receivables management that puts the customer at the heart of the process delivering optimal outcomes for clients while treating consumers with dignity and affordability.

For more information visit: www.globalreceivablesmanagement.com.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain "forward-looking statements" or "forward-looking information" (collectively referred to hereafter as "forward-looking statements") under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the expected annualized revenue, term and onboarding timing of the new client contract; the Company's future financial performance, revenue growth and Adjusted EBITDA, including the expected conversion of the investment in fee-earning capacity into revenue; the integration of acquired businesses; and the business, plans, strategy and operations of the Company.

The expected annualized revenue from the new client contracts represents management's estimate of the revenue the contracts may generate at full run-rate and is not a forecast of revenue for any particular period. It is based on assumptions including that: the client places account volumes consistent with its indicated levels; collection performance and fee rates are consistent with the Company's experience with comparable clients; onboarding proceeds on the expected timetable; the contracts are not terminated or materially amended. Actual revenue may be materially lower than the expected annualized revenue.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the risk that the new client contract generates less revenue than expected, or later than expected, including as a result of lower placement volumes, weaker collection performance, onboarding delays or termination; market conditions; changes in client demand; client concentration; foreign exchange rates; operational performance; the outcome of the CCAA proceedings of XTM Inc. and Everyday People Payments Inc. and any related claims or regulatory matters; and other risks and uncertainties, including those described in the documents filed by the Company on SEDAR+ at www.sedarplus.ca. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in 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/322776

Source: Global Receivables Management Inc.