12:20 PM EST, 11/28/2024 (MT Newswires) -- Tribe Property Technologies ( TRPTF ) on Thursday said its third-quarter loss narrowed on higher revenue.

The company said it lost $1.34 million in the quarter, compared with a year-prior loss of $2.07 million. Per share results were not provided.

Revenue rose 74% to $8.33 million from 4.8 million a year earlier, which it attributed to "organic growth and the acquisitions of DMSI and Meritus Group Management".

"We are thrilled with the financial performance of the quarter. The acquisition of DMS and prior to that, Meritus, in combination with our robust organic growth, has propelled Tribe's annualized revenue run rate to over $32 million and has significantly enhanced the company's profitability profile," said Chief Executive Officer Joseph Nakhla.

The company's shares were last seen up $0.01 to $0.40 on the TSX Venture Exchange.

Price: 0.40, Change: +0.01, Percent Change: +2.56