EMERGE Commerce (TSXV:ECOM)

EMERGE(TSXV:ECOM). We buy & build profitable ecom brands across Grocery & Golf. truLOCAL 🥩| UnderPar⛳️| JustGolfStuff 🏌️‍♂️| Tee 2 Green ⛳️

[Ghassan Halazon @instajee]

Jam packed day ahead! Presenting at Smallcap Discoveries in Vancouver, along with 11 one-one investor meetings ✅

Keynote by @iancassel

@smallcapdisc
@EMERGE_ECOM $ECOM.v

[EMERGE Commerce (TSXV:ECOM) @EMERGE_ECOM]

$ECOM.v 👊🏼❤️

[Ghassan Halazon @instajee]

A few years ago, our debt with Cortland stood at $25M 👀

Yesterday, we officially paid Cortland down to $0 🤯

Desjardins refinanced the final $5.9M at MUCH improved terms ✅

Paying Cortland down from $25M to $0 wasn’t one big move.

It was 100s of small ones.

We sold businesses. We paid down debt. We cut costs. We renegotiated contracts. We rebuilt parts of the business. We fought for every dollar of cash flow.

And when things got really hard, we stuck around.

There was nothing glamorous about most of it.

Just a small team, showing up every day, making difficult decisions, and trying to deliver on what we said we were going to do.

Slowly, the numbers started moving in the right direction.

Growth returned ✅

Cash flow returned ✅

We started buying businesses again, but with more discipline and synergy this time.

And eventually, we earned the opportunity to move from expensive, short-term debt (11% interest rate, renewing every 12-18 months) to a 7.3% rate and a 7-year facility with #Desjardins, one of Canada’s largest financial institutions.

I don’t view this refinancing as the finish line of course.

I view it as the end of a LONG ass first chapter.

For the last few years, so much of our energy went into fixing, simplifying and de-risking EMERGE.

Now we get to put more of that energy into playing OFFENCE again.

Growing our businesses.

Buying great ones.

And continuing to do the BORING stuff, day after day. SCRAPPY all the way baby!!

It took a lot to get here. Proud of our team for sticking with it.

Feels good to deliver on our promise to complete a “Canadian bank” refi deal this year.

Now, back to work 👊🏼❤️

@EMERGE_ECOM $ECOM.V

[EMERGE Commerce (TSXV:ECOM) @EMERGE_ECOM]

@instajee Register here: https://t.co/beZAOwhhRv

[Ghassan Halazon @instajee]

Join us for our @EMERGE_ECOM investor webcast today at 11am ET to discuss the landmark #Desjardins debt refinancing (7-year term, 3.7% interest rate cut), and the impact it has on the future of EMERGE $ECOM.v

Register below👇👇

[EMERGE Commerce (TSXV:ECOM) @EMERGE_ECOM]

$ECOM.v 🔥👊🏼✅

[Fundalyze @FundalyzeCA]

$ECOM.V (Emerge Commerce): refinances its $5.85M term loan with Desjardins, cutting the rate from 11.0% to 7.3% and extending maturity to 2033. Expects ~CA$400K in annual cash-flow savings.

[EMERGE Commerce (TSXV:ECOM) @EMERGE_ECOM]

@instajee https://t.co/SIM7b6kkYH

[EMERGE Commerce (TSXV:ECOM) @EMERGE_ECOM]

$ECOM.v 🔥🔥

[Ghassan Halazon @instajee]

EMERGE Secures 7-Year, $5.85M Debt Refinancing with DESJARDINS at Significantly Lower Interest Rate

·       Rate cute from 11.0% to 7.3% on Term Loan (3.7% lower)

· 7-year term through September 2033, extending senior debt maturity from October 2027 and significantly reducing near-term refinancing risk and costs

· ~$400K in annual cash flow savings expected, primarily directed towards debt reduction
· $5.85M term loan facility, and a $1M line of credit available to EMERGE for working capital

· Desjardins, one of Canada’s leading financial institutions, joins EMERGE as a lending partner, supporting the Company’s next phase of disciplined growth

· EMERGE CEO and CFO to host webcast on Thursday, September 24 at 11:00 AM ET (Register Below)

Following our multi-year efforts, we can finally share that EMERGE has officially secured a substantially lower-cost, long-term credit facility with Desjardins, one of Canada’s most established financial institutions. Graduating to a traditional Canadian bank facility has been one of our key stated priorities for years, and was only made possible by EMERGE’s significantly improved financial profile. The materially lower interest rate, combined with the elimination of recurring refinancing costs, is expected to meaningfully strengthen our cash flow, allowing us to direct the majority of these savings toward methodically reducing debt over the coming years, while preserving the flexibility to invest in our businesses and pursue accretive acquisitions as the right opportunities arise. We are grateful for the team at Desjardins for their vote of confidence in EMERGE at this exciting inflection point.

Benjamen Pinsky, Associate Director, Technology and Innovation Banking, Desjardins, commented, “Desjardins is pleased to support EMERGE as it enters its next phase of growth. This financing provides the Company with a long-term capital structure designed to support continued operational progress and growth across its portfolio of businesses.”

Webcast
We will host a virtual corporate presentation on Thursday, September 24, 2026 at 11:00am EST (Register in Comments)

@EMERGE_ECOM $ECOM.v

[EMERGE Commerce (TSXV:ECOM) @EMERGE_ECOM]

@instajee Sometimes the best collections department is a disappointed mother 😂👌

[EMERGE Commerce (TSXV:ECOM) @EMERGE_ECOM]

$ECOM.v 🔥

[Ghassan Halazon @instajee]

If you’re going to ask someone on your team to do something “beneath them”, you better be damn sure you’re willing to do it yourself.

I see this one all the time. Someone gets a title and suddenly certain tasks are “not their job.”

I don’t buy it.

I’m the CEO. If a PR needs to be drafted, I’ll draft it.
If a deck needs fixing, I’ll fix it. If something needs scheduling, uploading, formatting, cleaning up, chasing down or doing at 10pm on a Sunday…

I’ll do it.

It's not the best use of my time, but it just needs to get done.

My team sees me doing those things, then when I ask them to do something that might technically be “beneath them,” they understand the deal.

Nobody is above the work. That’s how we built EMERGE.

That’s why we survived the "DARK PERIOD".

DOWN & DIRTY babyy!! That's how.

@EMERGE_ECOM

[EMERGE Commerce (TSXV:ECOM) @EMERGE_ECOM]

$ECOM.v

[Ghassan Halazon @instajee]

I was reading my recent LinkedIn post about EMERGE’s results and I couldn't help but ask myself:

When did you start sounding so damn robotic?

Revenue up. EBITDA up. Cash flow up. X consecutive quarters of growth. Over and over again…

Great, but none of that tells the real story.

Behind those numbers are approx. 1 million mistakes, sleepless nights, painful decisions, setbacks, pressures… and a team that kept showing up through it all.

The numbers don’t nearly capture the team's will and resilience it took, day in and day out, to overcome unimaginable odds just a few years ago.

You really think we brought our net debt position DOWN from $32M to ~$4M based on numbers alone?

You think we brought the business BACK TO GROWTH based on numbers alone?

You think we became CASH FLOW POSITIVE based on numbers alone??

HEART, baby. It's called HEART. With a side of SCRAPPY.

And this team has a heck of a lot of both.

@EMERGE_ECOM

[EMERGE Commerce (TSXV:ECOM) @EMERGE_ECOM]

$ECOM.v 👀🍿

[Ghassan Halazon @instajee]

We just announced our Q2 results. First time Adj. EBITDA exceeds $1M+ since 𝟮𝟬𝟮𝟭. First time revenue exceeds $9M+ since 𝟮𝟬𝟮𝟯.

Let's dive in..

✅ 𝗤𝟮 𝗥𝗲𝘃𝗲𝗻𝘂𝗲 grew to $9.11M vs. $8.48M, an increase of 7.4% YoY, marking the 9th consecutive quarter of YoY revenue growth

✅𝗤𝟮 𝗚𝗿𝗼𝘀𝘀 𝗽𝗿𝗼𝗳𝗶𝘁 grew to $3.55M vs. $3.09M, an increase of 14.8% YoY

✅𝗤𝟮 𝗚𝗿𝗼𝘀𝘀 𝗺𝗮𝗿𝗴𝗶𝗻 increased to 39.0% vs. 36.5%

✅𝗤𝟮 𝗔𝗱𝗷. 𝗘𝗕𝗜𝗧𝗗𝗔 improved to $1.03M vs. $0.96M, an increase of 7.3%, marking the 7th consecutive quarter of positive Adj. EBITDA

✅Positive 𝗡𝗲𝘁 𝗜𝗻𝗰𝗼𝗺𝗲 of $200K, approximately in line with prior period

✅ 𝗖𝗮𝘀𝗵 𝗽𝗼𝘀𝗶𝘁𝗶𝗼𝗻 grew to $4.8M (June 30, 2026) vs. $3.5M (June 30, 2025), an increase of $1.3M YoY

Q2 was our strongest quarter in years, across both revenue and Adjusted EBITDA, with positive cash flow generation on full display. The 2026 golf season launched with strength, while Viral Loops contributed meaningfully to our improved gross margins and positive cash flow in its first full quarter under EMERGE. Importantly, all three of our verticals drove positive Adjusted EBITDA. Q2 also provides a more representative view of the underlying business, with T2G having been acquired in early April 2025.

𝗪𝗲 𝗮𝗿𝗲 𝗲𝘀𝗽𝗲𝗰𝗶𝗮𝗹𝗹𝘆 𝗽𝗹𝗲𝗮𝘀𝗲𝗱 𝘁𝗵𝗮𝘁 𝘁𝗵𝗲 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗮𝗰𝗵𝗶𝗲𝘃𝗲𝗱 𝗽𝗼𝘀𝗶𝘁𝗶𝘃𝗲 𝗰𝗮𝘀𝗵 𝗳𝗹𝗼𝘄 𝗼𝘃𝗲𝗿𝗮𝗹𝗹 𝗶𝗻 𝗯𝗼𝘁𝗵 𝗤𝟮 𝗮𝗻𝗱 𝘆𝗲𝗮𝗿-𝘁𝗼-𝗱𝗮𝘁𝗲, 𝗮𝘀 𝘄𝗲 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲 𝘁𝗼 𝗯𝘂𝗶𝗹𝗱 𝗮 𝘀𝘁𝗿𝗼𝗻𝗴𝗲𝗿, 𝗺𝗼𝗿𝗲 𝗱𝘂𝗿𝗮𝗯𝗹𝗲 𝗘𝗠𝗘𝗥𝗚𝗘.

As always, I would also like to take this opportunity to thank our Board, employees, customers, suppliers, lenders, and shareholders for their unwavering support.

Onwards 🤝

@EMERGE_ECOM

[EMERGE Commerce (TSXV:ECOM) @EMERGE_ECOM]

$ECOM.v 👀 🍿

[Ghassan Halazon @instajee]

Our preliminary Q2 2026 results (vs. Q2 2025):

✅ Revenue expected to be between $9.0M and $9.1M vs. $8.5M
✅ Gross margin expected to be approximately 39% vs. 36%
✅Adj. EBITDA expected to be between $1M and $1.1M vs. $958K
✅ Cash Position grew to $4.8M (June 30, 2026) vs. $3.5M (June 30, 2025) and $4.1M (March 31, 2026)

EMERGE expects to file its full Q2 results in late August 2026.

@EMERGE_ECOM $ECOM.v

[EMERGE Commerce (TSXV:ECOM) @EMERGE_ECOM]

@instajee 🔥🔥

[EMERGE Commerce (TSXV:ECOM) @EMERGE_ECOM]

@ecommcowboy @instajee 🔥🔥

[Ecomm Cowboy @ecommcowboy]

“Buy boring and make sexy.”

Emerge Commerce (@EMERGE_ECOM) founder, Ghassan Halazon (@instajee), on acquiring a 38-year-old golf equipment business for 2.2x EBITDA:

“This business that used to grow at 3% a year, is now growing at 33% a year.”

Cash flow exceeded the purchase price in the first quarter post-close.

[EMERGE Commerce (TSXV:ECOM) @EMERGE_ECOM]

$ECOM.v 👀

[Ghassan Halazon @instajee]

Ok, our Q1 results are out. We just completed 2 full years (8 quarters of YoY revenue growth). 6 consecutive quarters of Adj. EBITDA positive. $4.1M Cash position (up $1.4M YoY)...

Q1 is normally the most seasonal Q of the year for us, so it's nice to see positive Adj. EBITDA during "quiet season".

Coming up.. Q2 is normally the strongest Q of the year, with peak golf season in action. It will also be our first full Q including Viral Loops (latest acquisition) results.

Let's go.. or as the kids say.. LFG

Appreciate everyone on the mission with us - you know who you are.

@EMERGE_ECOM $ECOM.v

[EMERGE Commerce (TSXV:ECOM) @EMERGE_ECOM]

$ECOM.v

[Ghassan Halazon @instajee]

Lights, Camera, AUDIT! 🎥🍿👀

Our full year 2025 audited financials are in..

Quick highlights below (2025 vs. 2024):

✅ Annual revenue increased to $27.7M vs. $19.3M, +43% YoY
✅ Gross profit grew to $9.9M vs. $7.9M, +25% YoY.
✅ Adj. EBITDA improved to $1.5M vs. ($472K), +$1.9M YoY
✅ Cash flow from operations grew to
$2.8M vs. $129 K
✅ Cash position grew to $4.1M vs. $3.1M, a $1M increase YoY

Q4 and full year (audited) results were in line with preliminary results (Financials exclude Viral Loops which was acquired in Q1 2026)

2025 was a breakout year for EMERGE. We delivered another year of organic revenue growth, returned to positive Adjusted EBITDA, and generated meaningful cash flow— achieving all three of our core operational objectives. Our Q4 results marked another strong quarter of growth, despite being a seasonal period for T2G. Both our Grocery and Golf verticals performed well, supported by record holiday B2B sales.

The acquisition and rapid scaling of hashtag#T2G exceeded all expectations and validates our EMERGE 3.0 playbook. We’ve carried this momentum into 2026 with the acquisition of Viral Loops, adding a high-margin, recurring revenue stream that further enhances our model. We remain focused on compounding value through profitable growth and disciplined capital allocation.

I’d like to thank our team, Board, and partners for their continued execution and unwavering support 🙏🏼

Now, time to do it all over again..

@EMERGE_ECOM $ECOM.v

[Ghassan Halazon @instajee]

BORING ALERT -

We release our full year audited statements tomorrow (April 29) pre-market.

Join us for our FY 2025 and Q4 earnings call tomorrow at 9am ET.

(Earnings dial in info in comments)

@EMERGE_ECOM $ECOM.v

[EMERGE Commerce (TSXV:ECOM) @EMERGE_ECOM]

$ECOM.v

[Ghassan Halazon @instajee]

Our company is growing up and so is the way we are starting to think of the business..

Today, we provided Cash Flow figures for Viral Loops, our recently announced acquisition, based on preliminary (unaudited) results for 2025:

Cash Flow: $700K

Adj. EBITDA to Cash Flow Conversion(1): 86%

Based on these results, the $2.3M total purchase price for Viral Loops represents approximately 3.3x cash flow.

With cash flow becoming an increasing priority at EMERGE, we wanted to give investors more visibility into Viral Loops' cash flow profile. This level of cash generation demonstrates the quality of the earnings and the asset-light nature of the platform. Viral Loops operates with a lean team, a disciplined marketing budget, and minimal working capital requirements, which has translated into consistent profitability and cash generation. We look forward to integrating Viral Loops and strengthening EMERGE overall.

@EMERGE_ECOM $ECOM.v

[Ghassan Halazon @instajee]

Tune into our webcast at 11am EST today for a deep dive into the Viral Loops acquisition, our overall progress and plans, followed by investor Q&A.

Register below:

https://t.co/4mcQZmYXh1

$ECOM.v @EMERGE_ECOM