Route1 Reports Third Quarter 2026 Results
ACCESSWIRE•09/11/2026•16:05 ET
0
Key Highlights
- ➤Adjusted EBITDA $251,000, up from $43,000 sequentially
- ➤Gross profit $1.202 million, up 11% sequentially; margin expanded to 49%
- ➤Recurring revenue US$831,000, up 48% sequentially
- ➤Operating income $83,000, versus a $128,000 Q2 loss
- ➤Q3 revenue $2.437 million, down 18% year over year
Expert Statements
Tony Busseri, Chief Executive Officer of Route1
“We are shifting Route1 from a business driven by one-time hardware sales and projects toward recurring licenses, support and operational services. Lower transactional revenue has reduced total revenue during that transition, but recurring customer relationships are contributing more revenue and gross profit. In Q3, total revenue grew from Q2, gross profit increased more than 10% and we returned to positive operating income”
Tony Busseri, President and Chief Executive Officer of Route1
“Our priority is to build on these results, convert more customer opportunities into recurring relationships and continue reducing debt.”
TORONTO, ON / ACCESS Newswire / November 9, 2026 / Route1 Inc. ("Route1" or the "Company") (TSXV:ROI), a provider of technology-enabled services focused on parking operations, public safety, and mobility, today announced its financial results for the three and nine months ended September 30, 2026.
All results are shown in Canadian dollars unless noted otherwise.
Get started
Create a free account to read the full story.