Mr. Omri Brill reports

ADCORE REPORTS THIRD QUARTER 2025 RESULTS

Adcore Inc. has released its financial results for the three and nine months ended Sept. 30, 2025.

Omri Brill, chief executive officer and founder of Adcore, commented, "While our third quarter top-line results reflect a period of transition, I'm encouraged by the underlying strength of our operations and the solid progress we've made this year across our key regions and initiatives."

Mr. Brill continued: "Our EMEA business grew 25 per cent year over year and APAC revenue increased 7 per cent in the quarter and 37 per cent year to date, confirming the positive momentum of our international footprint. At the same time, our disciplined cost structure drove meaningful efficiency gains, with R&D expenses down 10 per cent year over year and SG&A down 12 per cent in the quarter, contributing to a 56-per-cent increase in adjusted EBITDA year to date.

"We also strengthened our balance sheet, growing cash and cash equivalents by 8 per cent year over year, which provides the financial flexibility to keep investing in innovation and profitable growth.

"On the product side, we made substantial progress with Proposaly.io, advancing its automation and client portal capabilities to position it as a leading AI-driven proposal platform. We also launched the new marketing website, which delivers clearer messaging, improved conversion funnels and a more unified brand experience.

"These actions, together with our focus on recurring revenue, efficiency and smart product execution, are setting the foundation for a stronger, more scalable company. As we head into 2026, our priorities remain clear: driving growth in our core markets, accelerating the commercialization of Proposaly and deepening relationships with our clients worldwide.

"I want to thank our teams across regions for their focus and resilience, and our shareholders for their continued trust as we execute on our long-term vision."

Third quarter highlights:

• Revenue for the three months ended Sept. 30, 2025, was $7.6-million, compared with $7.8-million for the three months ended Sept. 30, 2024, a 2-per-cent decrease.
• Gross profit for the three months ended Sept. 30, 2025, was $3.1-million, compared with $3.7-million for the three months ended Sept. 30, 2024, a 16-per-cent decrease.
• Gross margin for the three months ended Sept. 30, 2025, was 40 per cent, compared with 47 per cent for the three months ended Sept. 30, 2024.
• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) for the three months ended Sept. 30, 2025, was $122,000, compared with $282,000 for the three months ended Sept. 30, 2024.
• North America revenue for the three months ended Sept. 30, 2025, was $1.1-million, compared with $2.1-million for the three months ended Sept. 30, 2024, a 50-per-cent decrease.
• EMEA (Europe, the Middle East and Africa) revenue for the three months ended Sept. 30, 2025, was $3.0-million, compared with $2.4-million for the three months ended Sept. 30, 2024, a 25-per-cent increase.
• APAC (Asia-Pacific) revenue for the three months ended Sept. 30, 2025, was $3.5-million, compared with $3.3-million for the three months ended Sept. 30, 2024, a 7-per-cent increase.
• Working capital for the three months ended Sept. 30, 2025, was $5.85-million, compared with $7.3-million as of Dec. 31, 2024.

Conference call and webcast information

Adcore will host a webcast and conference call to discuss those results on Thursday, Nov. 13, 2025, at 10 a.m. ET.

Register for the conference call/webcast on-line.

The conference call will include a brief statement by management and will focus on answering questions about Adcore's results. Questions regarding results can be sent in advance to invest@adcore.com.

Use of non-IFRS (international financial reporting standards) measures

Management uses adjusted EBITDA as a key financial metric to evaluate Adcore's operating performance and for planning and forecasting future business operations. Adjusted EBITDA excludes significant items that are non-operating in nature in order to evaluate Adcore's core operating performance against prior periods. Adjusted EBITDA is not a measure of financial performance under GAAP (generally accepted accounting principles), and should be considered in addition to, and not as a substitute for, net earnings, overall change in cash or liquidity of the business as a whole. Management believes the use of adjusted EBITDA allows investors and analysts to understand the results of the continuing operations of the company.

About Adcore Inc.

Adcore is a leading AI-powered (artificial intelligence) marketing technology company.

By combining extensive industry knowledge and experience with its proprietary AI-powered technology, Adcore offers a unique digital marketing solution that empowers entrepreneurs and advertisers by managing and automating their e-commerce store advertising and monitoring and analyzing the performance of their advertising budget to ensure maximum return on investment. Adcore is a certified Google premier partner, elite tier Microsoft partner, Facebook partner, verified Amazon partner and TikTok partner.

Established in 2006, the company employs over 50 people in its headquarters in Tel Aviv, Israel, and satellite offices in Toronto, Canada, Melbourne, Australia, and Hong Kong and Shanghai, China.

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