{"success":true,"data":{"pressRelease":{"id":"131671","rtpr_id":"nNFC4yX4Nr","ticker":"SERV","exchange":"","all_tickers":["SERV"],"title":"Elevate Service Group Reports Record Q2-2026 Revenue of $20.5 Million as Operating Platform Continues to Scale","author":"Newsfile Corp","published_at":"2026-08-31T22:10:30.734Z","article_body":"Quarterly revenue increased 170% over Q1-2026; pro forma Q2-2026 revenue\nreached $24.6 million following three strategic acquisitions\n\nToronto, Ontario--(Newsfile Corp. - August 31, 2026) - Elevate Service Group\nInc. (TSXV: SERV) (FSE: Y19) (\"Elevate\" or the \"Company\") is pleased to\nannounce its financial results for the fiscal quarter ended June 30, 2026.\nElevate delivered a significant step-change in scale during the second\nquarter, generating revenue of $20.5 million, compared with $7.6 million in\nQ1-2026, as the Company continued to execute its acquisition and integration\nstrategy. Q2-2026 included partial-period contributions from three strategic\nacquisitions completed during the quarter: Think Green Solutions Inc. (\"Think\nGreen\") and JJ&A Mechanical Ltd. (\"JJ&A\"), both completed on April 15, 2026,\nand TFI Food Equipment Solutions (\"TFI\"), completed on May 6, 2026. Had all\nthree acquisitions been completed on April 1, 2026, pro forma Q2-2026 revenue\nwould have been $24.6 million. The Company has filed its quarterly financial\nstatements, related management discussion and analysis (\"MD&A\") and\naccompanying CEO and CFO certifications under its profile on SEDAR+.\n\nKey Financial Highlights\n* Q2-2026 total revenue of $20.5 million, representing 170% growth from\nQ1-2026 revenue of $7.6 million. Pro forma Q2-2026 revenue would have been\n$24.6 million had TFI, Think Green and JJ&A all been acquired on April 1,\n2026, highlighting the expanded scale of the operating platform following the\nthree acquisitions completed during the quarter.\n* Consolidated gross profit of $6.9 million, representing a gross margin of\n33.8%.\n* Q2-2026 Adjusted EBITDA((1)) of $1.9 million, after adjusting reported\nEBITDA for acquisition-related transaction costs, non-cash share-based\ncompensation and certain other non-recurring items that management does not\nconsider indicative of ongoing operating performance. Adjusted EBITDA((1))\nmargin was 9.3% for Q2-2026.\n* Q2-2026 loss from operations of $0.9 million, primarily reflecting non-cash\nshare-based compensation, amortization of acquired intangible assets,\nacquisition-related transaction costs and professional fees.\nKey Operating Business Highlights\n* Completed the acquisition of Think Green Solutions on April 15, 2026, adding\na complementary LED lighting supply and service capability to Elevate's\ngrowing facilities services platform.\n* Completed the acquisition of JJ&A Mechanical on April 15, 2026, expanding\nElevate's mechanical service capabilities and strengthening the Company's\noperating presence in British Columbia.\n* Completed the acquisition of TFI Food Equipment Solutions on May 6, 2026,\nsignificantly expanding Elevate's national service footprint and building a\nleadership position in commercial restaurant equipment distribution and\nservicing, supported by three exclusive distribution partnerships, over 70\nfield service technicians and access to thousands of customer locations across\nmajor foodservice and retail brands.\n* Strengthened the Company's balance sheet and acquisition capacity subsequent\nto quarter-end through an upsized $10.0 million bought deal equity offering\nand an announced $25.0 million acquisition credit facility, which remains on\ntrack to close in Q3-2026.\n\"Q2-2026 was a milestone quarter for Elevate and demonstrated the pace at\nwhich we are building the platform,\" commented Paul Bissett, Chief Executive\nOfficer. \"Revenue increased to $20.5 million from $7.6 million in Q1, while\npro forma Q2 revenue reached $24.6 million following the three acquisitions\ncompleted during the quarter. More importantly, we materially expanded our\ncapabilities, geographic reach and field-service infrastructure. We believe we\nare building the foundation for a much larger national facilities management\nand essential commercial services platform.\"\n\n\"Our strategy remains centered on disciplined capital allocation and building\nlong-term shareholder value,\" stated Romeo Di Battista Jr., Executive\nChairman. \"The recently completed $10 million equity financing, together with\nour announced $25 million acquisition credit facility, provides additional\nfinancial flexibility as we evaluate opportunities to continue expanding the\nplatform. We intend to remain selective and focused on businesses where we\nbelieve Elevate can create meaningful value through our operating platform,\nshared infrastructure and access to capital.\"\n\nElevate Service Group Inc.\n\nElevate is a national facilities management and essential commercial services\nplatform focused on building an integrated platform through disciplined\nacquisitions and organic growth. Through its operating companies, Elevate\nbrings over 20 years of experience serving national, blue-chip customers. The\nCompany is building a scalable platform supported by shared infrastructure,\ntechnology and operational best practices. This approach drives efficiencies,\nexpands service offerings, and delivers superior customer outcomes. Elevate\ntrades on the TSX Venture Exchange under the ticker \"SERV\".\n\nCautionary Note Regarding Forward-Looking Information\n\nThis press release contains forward-looking information within the meaning of\napplicable securities legislation. All statements, other than statements of\nhistorical fact, are forward-looking information and are based on\nexpectations, estimates, and projections as of the date of this news release.\nAny statement that discusses expectations, beliefs, plans, projections,\nobjectives, assumptions, future events, or performance (often but not always\nusing phrases such as \"expects\", \"does not expect\", \"is expected\",\n\"anticipates\" or \"does not anticipate\", \"plans\", \"budgets\", \"schedules\",\n\"forecasts\", \"estimates\", \"believes\" or \"intends\" or variations of such words\nand phrases or stating that certain actions, events, or results \"may\" or\n\"could\", \"would\", \"might\" or \"will\" be taken to occur or be achieved) are not\nstatements of historical fact and may be forward-looking information.\n\nIn disclosing the forward-looking information contained in this press release,\nthe Company has made certain assumptions. Although the Company believes that\nthe expectations reflected in such forward-looking information are reasonable,\nit can give no assurance that the expectations of any forward-looking\ninformation will prove to be correct. Known and unknown risks, uncertainties,\nand other factors may cause actual results and future events to differ\nmaterially from those expressed or implied by such forward-looking\ninformation. Such factors include but are not limited to general business,\neconomic, competitive, political, and social uncertainties. Accordingly,\nreaders should not place undue reliance on the forward-looking information\ncontained in this press release. Except as required by law, the Company\ndisclaims any intention and assumes no obligation to update or revise any\nforward-looking information to reflect actual results, whether as a result of\nnew information, future events, changes in assumptions, changes in factors\naffecting such forward-looking information, or otherwise.\n\n(1) Cautionary Note Regarding Non-IFRS Measures\n\nThis press release makes reference to certain Non-IFRS measures that do not\nhave a standardized meaning under IFRS and therefore may not be comparable to\nsimilarly titled measures presented by other publicly traded companies. The\nCompany includes these measures as a means of measuring financial performance.\nMore specifically, the Company makes reference to the following Non-IFRS\nmeasures:\n\nEBITDA is defined as earnings before interest, taxes, depreciation and\namortization.\n\nAdjusted EBITDA as defined by the Company means EBITDA adjusted for one-time\nnon-recurring items and non-cash items such as stock-based compensation\nexpense, transaction costs related to business combinations, and other items\nthat management does not consider indicative of ongoing operating performance.\n\nElevate Service Group\nPaul Bissett, CEO\nFrank Guo, CFO\ninfo@elevateservicegroup.com\n\nNeither the TSXV nor its Regulation Services Provider (as that term is defined\nin the policies of the TSXV) accepts responsibility for the adequacy or\naccuracy of this release.\n\nNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION\nIN THE UNITED STATES.\n\nSOURCE: Elevate Service Group Inc.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/312299","article_body_html":"","raw_payload":{"data":{"id":"nNFC4yX4Nr","title":"Elevate Service Group Reports Record Q2-2026 Revenue of $20.5 Million as Operating Platform Continues to Scale","author":"Newsfile Corp","ticker":"SERV","created":"2026-08-31T22:10:30.734Z","tickers":["SERV"],"exchange":"","article_body":"Quarterly revenue increased 170% over Q1-2026; pro forma Q2-2026 revenue\nreached $24.6 million following three strategic acquisitions\n\nToronto, Ontario--(Newsfile Corp. - August 31, 2026) - Elevate Service Group\nInc. (TSXV: SERV) (FSE: Y19) (\"Elevate\" or the \"Company\") is pleased to\nannounce its financial results for the fiscal quarter ended June 30, 2026.\nElevate delivered a significant step-change in scale during the second\nquarter, generating revenue of $20.5 million, compared with $7.6 million in\nQ1-2026, as the Company continued to execute its acquisition and integration\nstrategy. Q2-2026 included partial-period contributions from three strategic\nacquisitions completed during the quarter: Think Green Solutions Inc. (\"Think\nGreen\") and JJ&A Mechanical Ltd. (\"JJ&A\"), both completed on April 15, 2026,\nand TFI Food Equipment Solutions (\"TFI\"), completed on May 6, 2026. Had all\nthree acquisitions been completed on April 1, 2026, pro forma Q2-2026 revenue\nwould have been $24.6 million. The Company has filed its quarterly financial\nstatements, related management discussion and analysis (\"MD&A\") and\naccompanying CEO and CFO certifications under its profile on SEDAR+.\n\nKey Financial Highlights\n* Q2-2026 total revenue of $20.5 million, representing 170% growth from\nQ1-2026 revenue of $7.6 million. Pro forma Q2-2026 revenue would have been\n$24.6 million had TFI, Think Green and JJ&A all been acquired on April 1,\n2026, highlighting the expanded scale of the operating platform following the\nthree acquisitions completed during the quarter.\n* Consolidated gross profit of $6.9 million, representing a gross margin of\n33.8%.\n* Q2-2026 Adjusted EBITDA((1)) of $1.9 million, after adjusting reported\nEBITDA for acquisition-related transaction costs, non-cash share-based\ncompensation and certain other non-recurring items that management does not\nconsider indicative of ongoing operating performance. Adjusted EBITDA((1))\nmargin was 9.3% for Q2-2026.\n* Q2-2026 loss from operations of $0.9 million, primarily reflecting non-cash\nshare-based compensation, amortization of acquired intangible assets,\nacquisition-related transaction costs and professional fees.\nKey Operating Business Highlights\n* Completed the acquisition of Think Green Solutions on April 15, 2026, adding\na complementary LED lighting supply and service capability to Elevate's\ngrowing facilities services platform.\n* Completed the acquisition of JJ&A Mechanical on April 15, 2026, expanding\nElevate's mechanical service capabilities and strengthening the Company's\noperating presence in British Columbia.\n* Completed the acquisition of TFI Food Equipment Solutions on May 6, 2026,\nsignificantly expanding Elevate's national service footprint and building a\nleadership position in commercial restaurant equipment distribution and\nservicing, supported by three exclusive distribution partnerships, over 70\nfield service technicians and access to thousands of customer locations across\nmajor foodservice and retail brands.\n* Strengthened the Company's balance sheet and acquisition capacity subsequent\nto quarter-end through an upsized $10.0 million bought deal equity offering\nand an announced $25.0 million acquisition credit facility, which remains on\ntrack to close in Q3-2026.\n\"Q2-2026 was a milestone quarter for Elevate and demonstrated the pace at\nwhich we are building the platform,\" commented Paul Bissett, Chief Executive\nOfficer. \"Revenue increased to $20.5 million from $7.6 million in Q1, while\npro forma Q2 revenue reached $24.6 million following the three acquisitions\ncompleted during the quarter. More importantly, we materially expanded our\ncapabilities, geographic reach and field-service infrastructure. We believe we\nare building the foundation for a much larger national facilities management\nand essential commercial services platform.\"\n\n\"Our strategy remains centered on disciplined capital allocation and building\nlong-term shareholder value,\" stated Romeo Di Battista Jr., Executive\nChairman. \"The recently completed $10 million equity financing, together with\nour announced $25 million acquisition credit facility, provides additional\nfinancial flexibility as we evaluate opportunities to continue expanding the\nplatform. We intend to remain selective and focused on businesses where we\nbelieve Elevate can create meaningful value through our operating platform,\nshared infrastructure and access to capital.\"\n\nElevate Service Group Inc.\n\nElevate is a national facilities management and essential commercial services\nplatform focused on building an integrated platform through disciplined\nacquisitions and organic growth. Through its operating companies, Elevate\nbrings over 20 years of experience serving national, blue-chip customers. The\nCompany is building a scalable platform supported by shared infrastructure,\ntechnology and operational best practices. This approach drives efficiencies,\nexpands service offerings, and delivers superior customer outcomes. Elevate\ntrades on the TSX Venture Exchange under the ticker \"SERV\".\n\nCautionary Note Regarding Forward-Looking Information\n\nThis press release contains forward-looking information within the meaning of\napplicable securities legislation. All statements, other than statements of\nhistorical fact, are forward-looking information and are based on\nexpectations, estimates, and projections as of the date of this news release.\nAny statement that discusses expectations, beliefs, plans, projections,\nobjectives, assumptions, future events, or performance (often but not always\nusing phrases such as \"expects\", \"does not expect\", \"is expected\",\n\"anticipates\" or \"does not anticipate\", \"plans\", \"budgets\", \"schedules\",\n\"forecasts\", \"estimates\", \"believes\" or \"intends\" or variations of such words\nand phrases or stating that certain actions, events, or results \"may\" or\n\"could\", \"would\", \"might\" or \"will\" be taken to occur or be achieved) are not\nstatements of historical fact and may be forward-looking information.\n\nIn disclosing the forward-looking information contained in this press release,\nthe Company has made certain assumptions. Although the Company believes that\nthe expectations reflected in such forward-looking information are reasonable,\nit can give no assurance that the expectations of any forward-looking\ninformation will prove to be correct. Known and unknown risks, uncertainties,\nand other factors may cause actual results and future events to differ\nmaterially from those expressed or implied by such forward-looking\ninformation. Such factors include but are not limited to general business,\neconomic, competitive, political, and social uncertainties. Accordingly,\nreaders should not place undue reliance on the forward-looking information\ncontained in this press release. Except as required by law, the Company\ndisclaims any intention and assumes no obligation to update or revise any\nforward-looking information to reflect actual results, whether as a result of\nnew information, future events, changes in assumptions, changes in factors\naffecting such forward-looking information, or otherwise.\n\n(1) Cautionary Note Regarding Non-IFRS Measures\n\nThis press release makes reference to certain Non-IFRS measures that do not\nhave a standardized meaning under IFRS and therefore may not be comparable to\nsimilarly titled measures presented by other publicly traded companies. The\nCompany includes these measures as a means of measuring financial performance.\nMore specifically, the Company makes reference to the following Non-IFRS\nmeasures:\n\nEBITDA is defined as earnings before interest, taxes, depreciation and\namortization.\n\nAdjusted EBITDA as defined by the Company means EBITDA adjusted for one-time\nnon-recurring items and non-cash items such as stock-based compensation\nexpense, transaction costs related to business combinations, and other items\nthat management does not consider indicative of ongoing operating performance.\n\nElevate Service Group\nPaul Bissett, CEO\nFrank Guo, CFO\ninfo@elevateservicegroup.com\n\nNeither the TSXV nor its Regulation Services Provider (as that term is defined\nin the policies of the TSXV) accepts responsibility for the adequacy or\naccuracy of this release.\n\nNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION\nIN THE UNITED STATES.\n\nSOURCE: Elevate Service Group Inc.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/312299"},"type":"article","timestamp":"2026-08-31T22:10:30.780190795Z","server_sent_at_ms":1788214230780},"received_at":"2026-08-31T22:10:30.866Z","source_url":"https://www.newsfilecorp.com/release/312299"},"analysis":{"id":"120579","press_release_id":"131671","analysis_json":{"industry":{"label":"Commercial Services & Supplies","sector":"Industrials"},"redFlags":[],"eventType":"earnings","narrative":"Elevate Service Group reported Q2-2026 revenue of $20.5 million, a 170% increase from the prior quarter, driven by the integration of three strategic acquisitions completed during the period.\n\nPro forma revenue for the quarter reached $24.6 million, with gross profit of $6.9 million representing a 33.8% margin, while Adjusted EBITDA came in at $1.9 million.\n\nSubsequent to quarter-end, the company strengthened its balance sheet with a closed $10 million bought deal equity offering and announced a $25 million acquisition credit facility.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Triple-digit sequential revenue growth and fresh capital highlight the acceleration of this facilities services roll-up."},"keyFigures":{"revenue":"$20.5 million","customDimensions":{"gross_margin":"33.8%","gross_profit":"$6.9 million","operating_loss":"$0.9 million","adjusted_ebitda":"$1.9 million","pro_forma_revenue":"$24.6 million","adjusted_ebitda_margin":"9.3%","equity_offering_proceeds":"$10.0 million","credit_facility_announced":"$25.0 million"}},"quotedText":"Q2-2026 was a milestone quarter for Elevate and demonstrated the pace at which we are building the platform","namedEntities":{"people":[{"name":"Paul Bissett","role":"CEO"},{"name":"Romeo Di Battista Jr.","role":"Executive Chairman"},{"name":"Frank Guo","role":"CFO"}],"products":[],"companies":[{"name":"Elevate Service Group Inc.","ticker":"SERV"},{"name":"Think Green Solutions Inc.","relationship":"acquiree"},{"name":"JJ&A Mechanical Ltd.","relationship":"acquiree"},{"name":"TFI Food Equipment Solutions","relationship":"acquiree"}],"dollarAmounts":[{"amount":"$20.5 million","context":"Q2-2026 total revenue"},{"amount":"$7.6 million","context":"Q1-2026 revenue"},{"amount":"$24.6 million","context":"pro forma Q2-2026 revenue"},{"amount":"$6.9 million","context":"Consolidated gross profit"},{"amount":"$1.9 million","context":"Q2-2026 Adjusted EBITDA"},{"amount":"$0.9 million","context":"Q2-2026 loss from operations"},{"amount":"$10.0 million","context":"upsized bought deal equity offering"},{"amount":"$25.0 million","context":"announced acquisition credit facility"}]},"materialImpact":{"score":4,"reasoning":"Revenue surged 170% sequentially to $20.5M driven by three completed acquisitions, with management highlighting a milestone quarter for platform scaling. The company also secured significant capital via a $10M equity offering and announced a $25M credit facility to support further expansion."},"tickerRelevance":{"others":[],"primary":"SERV"},"globalImportance":25,"audienceRelevance":20,"eventTypeSecondary":["offering","debt_offering"],"importanceComponents":{"tickerTier":"micro-cap","eventGravity":"high-growth-earnings","sectorWeight":"industrials"}},"event_type":"earnings","event_type_secondary":["offering","debt_offering"],"sentiment":"bullish","material_impact_score":4,"narrative":"Elevate Service Group reported Q2-2026 revenue of $20.5 million, a 170% increase from the prior quarter, driven by the integration of three strategic acquisitions completed during the period.\n\nPro forma revenue for the quarter reached $24.6 million, with gross profit of $6.9 million representing a 33.8% margin, while Adjusted EBITDA came in at $1.9 million.\n\nSubsequent to quarter-end, the company strengthened its balance sheet with a closed $10 million bought deal equity offering and announced a $25 million acquisition credit facility.","key_figures":{"revenue":"$20.5 million","customDimensions":{"gross_margin":"33.8%","gross_profit":"$6.9 million","operating_loss":"$0.9 million","adjusted_ebitda":"$1.9 million","pro_forma_revenue":"$24.6 million","adjusted_ebitda_margin":"9.3%","equity_offering_proceeds":"$10.0 million","credit_facility_announced":"$25.0 million"}},"named_entities":{"people":[{"name":"Paul Bissett","role":"CEO"},{"name":"Romeo Di Battista Jr.","role":"Executive Chairman"},{"name":"Frank Guo","role":"CFO"}],"products":[],"companies":[{"name":"Elevate Service Group Inc.","ticker":"SERV"},{"name":"Think Green Solutions Inc.","relationship":"acquiree"},{"name":"JJ&A Mechanical Ltd.","relationship":"acquiree"},{"name":"TFI Food Equipment Solutions","relationship":"acquiree"}],"dollarAmounts":[{"amount":"$20.5 million","context":"Q2-2026 total revenue"},{"amount":"$7.6 million","context":"Q1-2026 revenue"},{"amount":"$24.6 million","context":"pro forma Q2-2026 revenue"},{"amount":"$6.9 million","context":"Consolidated gross profit"},{"amount":"$1.9 million","context":"Q2-2026 Adjusted EBITDA"},{"amount":"$0.9 million","context":"Q2-2026 loss from operations"},{"amount":"$10.0 million","context":"upsized bought deal equity offering"},{"amount":"$25.0 million","context":"announced acquisition credit facility"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-31T22:12:19.641Z","global_importance":25,"audience_relevance":20,"importance_components":{"tickerTier":"micro-cap","eventGravity":"high-growth-earnings","sectorWeight":"industrials"}},"durationMs":null,"modelName":"glm-4.7"}}