Propel Reports Third Quarter Results and Announces Dividend Increase

Canada NewsWire

TORONTO, Nov. 3, 2026

TORONTO , Nov. 3, 2026 /CNW/ -- Propel Holdings Inc. ( "Propel"  or the "Company" ) (TSX: PRL), the fintech facilitating access to credit for underserved consumers, today reported financial results for the three months ended September 30, 2026 ( "Q3 2026" ). Propel also announced that its Board of Directors has approved a further increase to its dividend from C$1.02 to C$1.08 per share on an annualized basis, effective Q4 2026. This represents an increase of 6% and the Company's thirteenth consecutive quarterly dividend increase. All amounts are expressed in U.S. dollars unless otherwise stated.

Financial and Operational Highlights for Q3 2026 (Shown in U.S. Dollars unless otherwise stated)
Comparable metrics relative to Q3 2025, unless otherwise stated

Management Commentary

"Propel delivered another strong quarter, with record revenue, Total Originations Funded 1 , Ending CLAB 1 , Adjusted EBITDA 1  and Adjusted Net Income 1 , while generating an Adjusted Return on Equity 1  of 34%. For the first time in our history, quarterly revenue surpassed $200 million, marking another significant milestone in our growth.

Our results reflect the strength and resilience of our business model against an evolving economic environment. Consumer demand remains strong, while credit performance is consistent with our seasonal expectations. Importantly, we achieved this growth while maintaining a disciplined approach to underwriting with our Bank Partners.

Our expanding geographic presence and diversified marketing channels are enabling us to reach more consumers than ever before. New customer originations increased 55% year-over-year, including Lending as a Service. At the same time, our investments in AI, automation and operating infrastructure are driving greater efficiencies and enabling continued profitable growth.

These results demonstrate the scalability of our platform, the strength of our execution and the significant opportunity that remains ahead of us. Fifteen years into our journey, and five years since going public, we remain as ambitious as ever to expand access to credit for underserved consumers while delivering profitable growth in 2026 and beyond," said Clive Kinross, Chief Executive Officer.

Discussion of Financial Results and Business Strategy

Dividend Increase
Propel also announced today that its Board of Directors has approved an increase in the quarterly dividend from C$0.255 to C$0.27 per common share, or from C$1.02 to C$1.08 per common share on an annualized basis. This represents an increase of 6% and the Company's thirteenth consecutive quarterly dividend increase. The Board declared a dividend of C$0.27 per common share, payable on December 3, 2026 to shareholders of record as of the close of business on November 26, 2026. The Company has designated this dividend as an eligible dividend within the meaning of the Income Tax Act (Canada).

Conference Call Details
The Company will be hosting a conference call and webcast tomorrow morning with a presentation by Clive Kinross, Chief Executive Officer, and Sheldon Saidakovsky, Chief Financial Officer.

Conference call details are as follows:

About Propel
Propel Holdings (TSX: PRL) the fintech building a new world of financial opportunity for consumers, partners, and investors. Propel's operating brands — Fora Credit, CreditFresh, MoneyKey and QuidMarket — together with Propel Bank facilitate access to credit for consumers underserved by traditional financial institutions. Through its AI-powered platform, Propel evaluates customers in a more comprehensive way than traditional credit scores can. The result is better products and an expanded credit market for consumers while creating sustainable, profitable growth for Propel. The revolutionary fintech platform has already helped consumers access over 2 million loans and lines of credit and over 3 billion dollars in credit. At Propel, we are here to change the way customers, partners and investors succeed together. Learn more at  propelholdings.com .

Non-IFRS Financial Measures and Industry Metrics
This press release makes reference to certain non-IFRS financial measures and industry metrics. These measures are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management's perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. Such measures include "Adjusted Diluted EPS", "Adjusted EBITDA", "Adjusted EBITDA Margin", "Adjusted Net Income", "Adjusted Net Income Margin", "Adjusted Return on Equity", "Average CLAB", "Cost Per New Customer Funded Origination", "EBITDA", "EBITDA Margin", "Ending CLAB", "Net Charge-Offs as a percentage of Average CLAB" and "Total Originations Funded". This press release also includes references to industry metrics such as "Annualized Revenue Yield", "Return on Equity" and "Total Originations Funded" which are supplementary measures under applicable securities laws.

These non-IFRS financial measures and industry metrics are used to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. We believe that securities analysts, investors and other interested parties frequently use non-IFRS financial measures and industry metrics in the evaluation of issuers. The Company's management also uses non-IFRS financial measures and industry metrics in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts, and to determine components of management and executive compensation. The key performance indicators used by the Company may be calculated in a manner different than similar key performance indicators used by other similar companies.

Definitions and reconciliations of non-IFRS financial measures to the relevant reported measures can be found in our accompanying MD&A available on SEDAR+. Such reconciliations can also be found in this press release under the heading "Reconciliation of Non-IFRS Financial Measures" below.

Forward-Looking Information
Certain statements made in this press release may constitute forward-looking information under applicable securities laws. These statements may relate to our declared dividend payable on December 3, 2026,  our ability to advance our mission of expanding access to credit for underserved consumers while delivering profitable growth in 2026 and beyond, the continued scaling of LaaS , our ability to balance strong growth with prudent risk management and the growth of LaaS becoming an increasingly meaningful contributor to our revenue and profitability. Often but not always, forward-looking statements can be identified by the use of forward-looking terminology such as "may", "will", "expect", "believe", "estimate", "plan", "could", "should", "would", "outlook", "forecast", "anticipate", "foresee", "continue" or the negative of these terms or variations of them or similar terminology.

Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the factors discussed in the "Risk Factors" section of the Company's annual information form dated March 2, 2026 for the year ended December 31, 2025 (the " AIF "). A copy of the AIF and the Company's other publicly filed documents can be accessed under the Company's profile on SEDAR+ at www.sedarplus.ca .

The Company cautions that the list of risk factors and uncertainties described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. The forward-looking information contained in this press release represents our expectations as of the date of this press release (or as the date they are otherwise stated to be made), and are subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

Selected Financial Information

Reconciliation of Non-IFRS Financial Measures
The following table provides a reconciliation of Propel's net income to EBITDA 1  and Adjusted EBITDA 1 :

The following table provides a reconciliation of Propel's Net Income to Adjusted Net Income 1 , Adjusted Return on Equity 1  and Adjusted Net Income margin 1 :

The following table provides a reconciliation of Propel's Ending CLAB 1  to loans and advances receivable:

SOURCE Propel Holdings Inc.