Top 30 Accounts Revenue Up 25%; Google Cloud Revenue Up 108%

Second Consecutive Quarter of Double-Digit Revenue Growth; New Leadership Team in Place and $15.1 Million Financing Completed After Quarter End

Company Hosting Investor Webinar on Tuesday, November 10, 2026, at 11:00 AM ET

TORONTO, Nov. 10, 2026 (GLOBE NEWSWIRE) -- NowVertical Group Inc. (TSX-V: NOW) (“NOW” or the “Company”), a leader in AI-driven data solutions, announces financial results for its third fiscal quarter ended September 30, 2026. Unless otherwise specified, all dollar amounts are expressed in U.S. dollars. Management will host an investor webinar at 11:00 AM ET (8:00 AM PT) on Tuesday, November 10, 2026, to discuss the Company’s financial and business results.

“Our third quarter results reflect the focus of our global team on delivering high quality outcomes for our clients. Revenue grew 11% year over year to USD $10.1 million, our second consecutive quarter of double-digit growth, and Adjusted EBITDA was USD $1.9 million, or 19% of revenue,” said Andre Garber, Chief Executive Officer of the Company. “Since quarter end, we have closed a CAD $15.1 million financing led by VRG Capital and welcomed J.R. Kingsley Ward to our Board as Executive Chair. With our leadership team in place and a stronger balance sheet, we are focused on profitable growth across our client base and expanding our Google Cloud practice.”

Selected Financial Highlights for the Three Months ended September 30, 2026:

• Revenue was $10.1 million in the three months ended September 30, 2026 (“Q3 2026”), an 11% increase from $9.1 million for the three months ending September 30, 2025 (“Q3 2025”), due to growth in consulting and advisory services and managed services, partially offset by lower transformation and project delivery revenue and license and maintenance-related revenue.
• Gross Profit was $5.0 million in Q3 2026, a 6% increase from $4.7 million in Q3 2025, primarily driven by the same factors contributing to the increase in revenue discussed above. Gross profit margin decreased to 50% in Q3 2026 from 51% in Q3 2025, due to changes in the revenue mix.
• Administrative Expenses were $4.4 million in Q3 2026, a 1% increase from $4.3 million in Q3 2025, due to severance-related costs.
• Income from Operations was $0.6 million in Q3 2026, a 53% increase from $0.4 million in Q3 2025, primarily attributable to higher revenue and gross profit, partially offset by increased administrative expenses. The variance also benefits from the prior-year impact of the Argentine peso devaluation (greater in the prior year than the current year).
• Adjusted EBITDA was $1.9 million and 19% of revenue in Q3 2026, a 2% increase from $1.8 million and 20% of revenue in Q3 2025. Adjusted EBITDA is a non-GAAP financial measure, see “Non-IFRS Measures” below.
• Cash and cash equivalents were $3.6 million and total debt was $15.9 million at September 30, 2026. Subsequent to quarter end, the Company closed a CAD $15.1 million brokered private placement, consisting of CAD $5.1 million of equity units and CAD $10.0 million of convertible debenture units, to strengthen its balance sheet and support its growth strategy.

Core Client KPIs for the Three Months ended September 30, 2026:

• Top 30 Accounts Revenue was $8.5 million (83.9% of total revenue) in Q3 2026, a 25% increase from $6.8 million in Q3 2025.
• Google Cloud Revenue was $2.7 million in Q3 2026, a 108% increase from $1.3 million in Q3 2025.
• Data Analytics Solutions and Services Revenue was $8.8 million in Q3 2026, a 19% increase from $7.4 million in Q3 2025.

Q3 2026 and Subsequent Business Highlights:

• August 18, 2026: The Company appointed Philip Jones, with more than 30 years of CFO and capital markets experience, as Chief Financial Officer.
• September 08, 2026: The Company expanded its Google Cloud practice into Brazil, one of its largest markets in Latin America, building on its recognition as Google Cloud Data & Analytics Partner of the Year for Latin America in 2025 and 2026.
• October 06, 2026: The Company appointed Andre Garber, a co-founder who had served as Interim CEO since June 2026, as Chief Executive Officer following an executive search.
• October 20, 2026: The Company closed the initial tranche of the private placement, consisting of C$5.1 million of equity units, and appointed Kingsley Ward, Managing Partner of VRG Capital, as Executive Chair of the Board, with Andre Garber also joining the Board.
• October 22, 2026: The Company closed the final tranche of the private placement, consisting of C$10.0 million of convertible debenture units, completing the C$15.1 million private placement.

Q3 2026 Financial Results Investor Webinar:

The Company invites shareholders, analysts, investors, media representatives, and other stakeholders to attend our upcoming webinar. Management will discuss Q3 2026 results, followed by a question-and-answer session.

Investor Webinar Registration:

Time: Tuesday, November 10, 2026, 11:00 AM in Eastern Time (US and Canada)

Registration Link: 
https://us02web.zoom.us/webinar/register/WN_tT14zQ91SFyOIXNlt0S1OQ

A recording of the webinar and supporting materials will be made available in the investor’s section of the Company’s website at https://www.nowvertical.com/news-and-media.

Additional Information:

The Company’s third quarter of 2026 condensed consolidated interim financial statements, notes to financial statements, and management’s discussion and analysis for the three months ended September 30, 2026, are available on the Company’s SEDAR+ profile at www.sedarplus.com. Unless otherwise indicated, all references to “$” in this press release refer to US dollars, and all references to “CAD$” in this press release refer to Canadian dollars.

About NowVertical Group Inc.

The Company is a data analytics and AI solutions company offering comprehensive solutions, software and services. As a global provider, we deliver cutting-edge data, technology, and artificial intelligence (AI) applications to private and public enterprises. Our solutions form the bedrock of modern enterprises, converting data investments into business solutions. NOW is growing organically and through strategic acquisitions. For further details about NOW, please visit www.nowvertical.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Andre Garber, Chief Executive Officer
IR@nowvertical.com 
+1(647)947-0223 

Investor Relations:
Bristol Capital Ltd.
Stefan Eftychiou
stefan@bristolir.com
+1(905)326-1888 x60 

Cautionary Note Regarding Non-IFRS Measures:

This news release refers to certain non-IFRS measures. These measures are not recognized measures under IFRS, 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 the Company’s results of operations from management’s perspective. The Company’s definitions of non-IFRS measures used in this news release may not be the same as the definitions for such measures used by other companies in their reporting. Non-IFRS measures have limitations as analytical tools and should not be considered in isolation nor as a substitute for analysis of the Company’s financial information reported under IFRS. The Company uses non IFRS financial measures including “Adjusted EBITDA”. These non-IFRS measures are used to provide investors with supplemental measures of our operating performance and to eliminate items that have less bearing on our operational performance or operating conditions and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. The Company believes that securities analysts, investors and other interested parties frequently use non-IFRS financial measures in the evaluation of issuers. The Company’s management also uses non-IFRS financial measures to facilitate operating performance comparisons from period to period and prepare annual budgets and forecasts.

Non-IFRS Measures:

The non-IFRS financial measures referred to in this news release are defined below. The management discussion and analysis for the three months ended September 30, 2026, available at nowvertical.com and on SEDAR+ at www.sedarplus.com contains supporting calculations for EBITDA % and Adjusted EBITDA.

“Adjusted EBITDA” adjusts net income (loss) before depreciation and amortization expenses, net interest costs, and provision for income taxes and items such as acquisition accounting adjustments, transaction expenses related to acquisitions, transactional gains or losses on assets, asset impairment charges, non-recurring expense items, non-cash stock compensation costs, and the full year impact of cost synergies related to restructuring activities, such as a reduction of employees.

The Company has reconciled Adjusted EBITDA to the most comparable financial measure as follows:

Cautionary note regarding Forward-Looking Statements

This news release may contain forward-looking statements and forward-looking information (within the meaning of applicable securities laws) which reflect the Company’s current expectations regarding future events. All statements in this news release that are not purely historical statements of fact are forward-looking statements and include statements regarding beliefs, plans, expectations, future, strategy, objectives, goals and targets. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements are not guarantees of future performance and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

All of the forward-looking statement contained in this press release are qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward -looking statements contained herein are provided as of the date hereof, and the Company does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.