12:12 PM EDT, 05/06/2024 (MT Newswires) -- Tribe Property Technologies ( TRPTF ) said Monday its fourth-quarter widened even as revenue hit a record.

The company posted a loss of C$7.0 million, compared to a loss of C$2.8 million in the year-ago period.

Revenue increased 7.6% to C$5.11 million as the acquisition of Meritus positively impacted revenue growth, the company said.

For 2024, Tribe expects to increase monthly recurring revenue, make additional acquisitions and improve profitability.

"While profitability remains paramount, it's crucial to state our commitment to pursuing additional acquisition opportunities and fostering organic growth prospects," chief executive Joseph Nakhla said.

The company's shares were last seen down C$0.06 to C$0.57 on the TSX Venture Exchange.

Price: 0.57, Change: -0.06, Percent Change: -9.52