Elevate Service Group reports Q1 2026 results; expands national facility services platform

Four strategic acquisitions completed in 2026 have increased pro forma annualized revenue to approximately $90 million, expanded Elevate's national service capabilities, and positioned the Company to execute organic cross-selling opportunities, technician internalization and additional acquisitions Toronto, Ontario--(Newsfile Corp. - May 29, 2026) - Elevate Service Group Inc. (TSXV: SERV) (FSE: Y19) (" Elevate " or the " Company ") is pleased to announce that it has filed its quarterly financial statements for the fiscal quarter ended March 31, 2026, the related management discussion and analysis (" MD&A ") and accompanying CEO and CFO certifications under its profile on SEDAR+. The quarterly results reflect an active period of platform building and integration, including the operating results for the period of January 1, 2026 to March 31, 2026 for the acquisitions of Infinity Group Construction Inc. (" Infinity ") and First Choice Maintenance Inc. (" FCM "), and the operating results for the period of January 26, 2026 to March 31, 2026 for Charged Electric Services Ltd. (" Charged "). Key Financial and Operating Highlights Trailing twelve-month revenue and Adjusted EBITDA were $38.2 million and $4.2 million, respectively, reflecting the consolidated trailing twelve-month results from all operating subsidiaries owned as of March 31, 2026.

Q1 2026 revenue was $7.6 million, including a partial-period contribution from Charged, with consolidated gross margins of 33%. Q1 2026 loss from operations was $0.9 million, primarily reflecting non-recurring transaction expenses, non-cash share-based compensation, and strategic investments in technology, geo-intelligence systems and technician expansion intended to support future scale and margin expansion. Strong liquidity position with $4.9 million of cash, $14.8 million of total current assets, and $7.4 million of total current liabilities.

Pro forma annualized revenue of approximately $90 million and pro forma Adjusted EBITDA margins of 12% (1) , reflecting the contributions of all acquisitions to date, including TFI Food Equipment Solutions, Think Green Solutions, and JJ&A Mechanical completed subsequent to quarter-end. "Q1 was an important platform-building quarter for Elevate," said Paul Bissett, Chief Executive Officer. "Since becoming a public company in November 2025, we have completed four highly strategic acquisitions, meaningfully expanded and diversified our revenue base, and invested in the people, technology and systems required to support a national facilities services platform.

The foundation is set for continued organic growth, operational excellence and margin expansion." "Elevate is moving quickly from a collection of strong operating businesses to an integrated national platform," said Romeo Di Battista Jr., Executive Chairman. "With approximately $90 million of pro forma annualized revenue, more than 130 internal technicians and a growing base of national account relationships, we believe the Company is well positioned to create value through disciplined integration, cross-selling and continued consolidation of a highly fragmented market." Outlook Elevate's mission is to be the single trusted national partner for professional facility maintenance and essential commercial services. The Company is executing a disciplined buy-and-build strategy to consolidate and modernize the fragmented facility services sector.

Since going public in November 2025, Elevate has completed four acquisitions that have materially increased its scale, internal technician base, geographic coverage, customer relationships and operating capabilities. Management believes these capabilities position Elevate to deliver a broader suite of commercial services to a diversified group of blue-chip retail, restaurant and commercial customers. Management is focused on the key strategic priorities outlined below: Organic Growth and Cross-Selling : Following the acquisition of TFI Food Equipment Solutions (" TFI ") completed in early May 2026, Elevate now provides a diversified suite of commercial services, including plumbing, electrical and equipment repair, to dozens of national, blue-chip customers.

Elevate has commenced cross-selling its portfolio of services, including recurring preventative maintenance services, to deepen national account relationships and deliver superior customer experiences. Technician Internalization : Elevate's internal technician base is now over 130 personnel across all regions of Canada, including licensed electricians, licensed plumbers, gas fitters, foodservice equipment technicians, and general maintenance personnel. This growing internal capability is expected to support improved margins, faster response times, better service quality and a more consistent customer experience.

In addition to acquisitions, Elevate has been hiring technicians across the platform to meet customer demand, including hiring over 10 new plumbing and electrical technicians in Southern Ontario during Q1 2026. Technology Integration and Geo-Intelligence : The Company is completing the integration of its enterprise technology systems to drive operating efficiencies, visibility and control across the platform. In addition, Elevate has developed a national geo-intelligence mapping database to support daily decision-making with respect to customers, technicians, resources, assets and growth opportunities.

Additional Strategic Acquisitions : The Company intends to pursue additional acquisition opportunities involving profitable, owner-operated service businesses with recurring revenue, trusted customer relationships, experienced management teams and opportunities for margin expansion through platform integration. Additional Exchange Listings To broaden investor awareness and improve trading liquidity, Elevate has recently completed a listing on the Frankfurt Stock Exchange under the ticker "Y19" and has applied to list on the U.S. OTC market. The U.S. OTC market listing is expected to be completed in Q2 2026 or early Q3 2026.

Elevate Service Group Inc. Elevate is a national facilities management and essential commercial services platform focused on consolidating and modernizing this fragmented sector. Through its operating companies, Elevate brings over 20 years of experience as a trusted partner to national, blue-chip customers. Elevate's strategy is to integrate a portfolio of profitable operating businesses across a scalable, national platform supported by shared infrastructure, technology, and operational best practices.

This approach is intended to drive efficiencies, expand service offerings, and enhance customer outcomes while extending Elevate's geographic reach. Elevate trades on the TSX Venture Exchange under the ticker "SERV". Cautionary Note Regarding Forward-Looking Information This press release contains forward-looking information within the meaning of applicable securities legislation.

All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates, and projections as of the date of this news release. Any statement that discusses expectations, beliefs, plans, projections, objectives, assumptions, future events, or performance (often but not always using phrases such as "expects", "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budgets", "schedules", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events, or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions.

Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to general business, economic, competitive, political, and social uncertainties.

Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information, or otherwise. (1) Cautionary Note Regarding Non-IFRS Measures This press release makes reference to certain Non-IFRS measures that do not have a standardized meaning under IFRS and therefore may not be comparable to similarly titled measures presented by other publicly traded companies. The Company includes these measures as a means of measuring financial performance.

More specifically, the Company makes reference to the following Non-IFRS measures: EBITDA is defined as earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA as defined by the Company means EBITDA adjusted for one-time non-recurring items and non-cash items such as stock-based compensation expense, listing expense, transaction costs related to business combinations and the reverse acquisition, and other items that management does not consider indicative of ongoing operating performance. Elevate Service Group Paul Bissett, CEO Frank Guo, CFO info@elevateservicegroup.com Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. SOURCE: Elevate Service Group Inc. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299504 Newsfile Corp. May 29, 2026 - 2:13 PM PDT News by QuoteMedia www.quotemedia.com