Toronto, Ontario--(Newsfile Corp. - November 20, 2024) - BeWhere (TSXV: BEW) (OTCQB: BEWFF) ("BeWhere" or the "Company"), a leading Mobile Internet of Things (M-IoT) company, is pleased to announce its financial results for three and nine months ended September 30, 2024.

Owen Moore, CEO and Co-Founder stated, "The company recorded its highest ever quarterly revenue with year over year growth of 64%." He further noted, "The Company is very excited with the orders since launch of its next generation devices and is expecting continued growth."

Chris Panczuk, COO and Co-Founder stated, "We are pleased that the Company successfully shipped a record number of devices on short notice demonstrating our capability to handle large orders in the future."

Third Quarter 2024 Highlights

• Total Revenue increased by 64% year over year – Total Revenue for the three months ended September 30, 2024, was $5,030,356 compared to $3,075,102 for the same period in 2023: an increase of $1,955,254.

• Recurring Revenue increased by 33% year over year – Recurring Revenue for the three months ended September 30, 2024, was $1,717,274 compared to $1,286,885 for the same period in 2023: an increase of $430,389.

• Operating income increased by 57% year over year – The Company recorded net income for the three months ended September 30, 2024, of $532,660 compared to $339,246 for the same period in 2023: an increase of $193,414.

• Working capital and Cash in hand – At September 30, 2024, the Company had working capital of $7,252,145. The cash balance on September 30, 2024 was $4,810,367.

• Adjusted EBITDA (non-IFRS measure) improved by 35% year over year – Adjusted EBITDA for the three months ended September 30, 2024, was $665,450 compared to $494,718 for the same period in 2023, an improvement of $170,732.

About BeWhere

BeWhere (TSXV: BEW) (OTCQB: BEWFF) specializes in low-power 5G IoT wide-area tracking technology, creating remote monitoring solutions that address cost, power, and environmental challenges. In just 6 years, the company has experienced rapid growth, collaborating with Fortune 500 companies, top resellers and installers to deploy hundreds of thousands of trackers across numerous sectors, including transportation, construction, logistics, utilities, health, and government.

BeWhere's tracking solutions are designed to be both cost-effective and simple to implement, significantly expanding the scope of assets that can be connected. These connected devices generate data that powers intelligent AI management platforms. By increasing the number of connected devices, BeWhere enhances the capabilities and growth potential of AI solutions.