Mr. Joseph Arrage reports

CLIP MONEY INC. REPORTS SECOND QUARTER 2026 RESULTS

Clip Money Inc. has released its financial results for the three and six months ended June 30, 2026. The company reported continued revenue growth in the second quarter of 2026, up 42 per cent from Q2 2025, while cost of revenues were up only 17 per cent during the same time period, maintaining high operating leverage.

Second quarter 2026 financial highlights:

• Revenue for the second quarter of 2026 (Q2 2026) was $1,913,490, compared with $1,349,587 in the second quarter of 2025 (Q2 2025), which equates to 42-per-cent growth year over year (YoY). Q2 2026 revenue increased 9 per cent quarter over quarter (QoQ) compared with the first quarter of 2026 (Q1 2026). Revenue for the six months ended June 30, 2026, was $3,676,670, compared with $2,322,293 in the first half of 2025, representing 58-per-cent growth YoY (year over year).
• Revenue growth continues to outpace changes in costs of revenue (COR). Q2 2026 COR of $1,344,020 was up 17 per cent YoY, relative to 42-per-cent YoY revenue growth, expanding gross profit to $569,470 from $202,530 in Q2 2025.
• Year-over-year (YoY) revenue growth for Q2 2026 was primarily fuelled by a 53-per-cent increase in new deposit users and a 31-per-cent increase in revenue per user. This deposit revenue expansion was further supported by strong contributions from new Clip products, such as ClipChange, which saw a 157-per-cent increase in YoY revenue. Active locations of ClipChange increased by 167 per cent to over 1,700 locations in Q2 from the prior period in 2025.
• Operating expenses for Q2 2026 were $1,798,797, compared with $1,719,300 in Q2 2025, which represents a 5-per-cent YoY increase. Q2 2026 operating expenses were 4 per cent lower QoQ compared with Q1 2026. Net loss for Q2 2026 was $1,440,088, compared with $2,174,025 in Q2 2025, which represents a decrease of 34 per cent YoY. Net loss per share was (one cent) in Q2 2026, compared with (two cents) in Q2 2025.

Network and customer highlights:

• Active customer locations reached 4,378 in Q2 2026, including eight new enterprise businesses from a variety of industry segments including health care, convenience, services and specialty retail industries. The company is pleased to welcome these new clients to its network, who in total have over 1,500 locations available to participate in the Clip network. Clip Money's multichannel network customer value proposition gathered momentum in the second quarter. Five of the eight new Clip customers are using ClipATM or ClipCenter to perform their deposits, in addition to the ClipDrop network. Of these five multichannel customers, three are primary ClipATM and ClipCenter users validating the convenience and efficiency of the Clip network.
• ClipChange order growth continued as Clip customers rely on the convenient and dependable service of change orders delivered directly to their business locations. Clip Change is now enjoyed by nearly one in three Clip customers, creating greater freedom from traditional bank branch deposits by eliminating the need for costly and inconvenient bank runs.

"Our second quarter results demonstrate the growing power and scale of the Clip network. Achieving 42-per-cent year-over-year revenue growth while limiting our cost of revenue increase to just 17 per cent highlights the exceptional operating leverage inherent in our model. Furthermore, our channel strategy is picking up significant momentum. We are excited about the progress and development of partnerships with financial institutions, who ultimately own commercial customer relationships. We expect these key channel partners to dramatically increase our available market in the second half of 2026. Combining our proven direct sales engine with strategic channel partners will accelerate our revenue trajectory well beyond what direct sales could achieve alone, strongly validating the essential, transformative service we are delivering to the market."

Joseph Arrage (chief executive officer and co-founder)

Subsequent events

Private placement

On July 8, 2026, the company announced the closing of the first tranche of a non-brokered private placement, pursuant to which it issued 8,686,377 common shares in the capital of the company at a price of 14.4 cents per common share for gross proceeds of $880,500 (U.S.) ($1,250,838), to two investors, both of whom are insiders of the company.

Commercial partnership

On July 29, 2026, the company announced a master services agreement for a commercial partnership involving joint go-to-market and solution development. The agreement provides for an upfront fee of $1.7-million (U.S.), plus up to $2.75-million (U.S.) in milestone-based payments, for a total potential value of up to $4.5-million (U.S.). It has an initial seven-year term with automatic two-year renewals.

Government loan

On Aug. 12, 2026, the company received its second and final advance of $1.14-million ($1.62-million) from Business Development Bank of Canada's growth and transition capital team pursuant to the company's previously announced $3-million loan (the BDC loan). The BDC loan, which matures on Aug. 15, 2028, has now been fully drawn for an aggregate principal amount of $3-million.

Additional information

The company's interim condensed consolidated financial statements, notes to financial statements, and management discussion and analysis for the three and six months ended June 30, 2026, are available on the company's SEDAR+ profile. Unless otherwise indicated, all references to currency in this press release refer to United States dollars.

About Clip Money Inc.

Clip operates a multibank self-service deposit system for businesses through the Clip Money network that gives users the capability of making deposits outside of their bank branch at top retailers and shopping malls. Rather than having to go to their personal bank branch or using a cash pickup service, businesses can deposit their cash at any ClipDrop Box, ClipATM or ClipCenter located near them. After being deposited, the funds will automatically be credited to the business' bank account, usually within one business day. The company combines functional hardware, an intuitive mobile app and an innovative cloud-based transaction engine that maximizes business-banking transactions. Combined with mobile user applications, Clip offers a cost-effective and convenient solution for business banking deposits in metropolitan statistical areas across the United States.