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• Avante Corp. achieved 52% year-over-year revenue growth in the fiscal second quarter with Recurring Monthly Revenues improving by 29%.

• The Company expects continued growth in Fiscal 2025, fueled by the NSSG acquisition, technological innovation such as Halo, Avante Verified and WALL-E, and a strategic focus on combining organic expansion with tuck-in acquisitions.

TORONTO-Ontario, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Avante Corp. (TSX.V: XX) (OTC: ALXXF) ("Avante" or the "Company") is pleased to announce its financial results for its second fiscal quarter ended September 30, 2024 all amounts in Canadian dollars thousands, unless otherwise indicated).

Manny Mounouchos, Founder, Chief Executive Officer and Board Chair of Avante, commented, "The second quarter of fiscal 2025 marked another successful quarter of growth for Avante, with quarterly revenue increasing by 52% year-over-year. Our core business continues to thrive, reflected in a 29% growth in Recurring Monthly Revenue. The success of the NSSG acquisition has been a key driver of this growth, enabling us to expand our international revenue and elevate our global capabilities. Our proprietary Halo technology is now deployed in over 160 locations and continues to grow, with significant enhancements on the way. In addition to Halo, we've launched several innovative security solutions over the past year including Homeworxx, The Reserve (previously Toyboxx), Argus App, Avante Verified, Human-in-the-loop Remote Video Servies developed in partnership with Scylla, and WALL-E. Looking ahead, we plan to continue developing new tech-enabled products and integrating advanced third-party solutions. We remain committed to driving organic growth and enhancing profitability."

Raj Kapoor, Avante's Chief Financial Officer, added, "I am pleased to report that we maintain a robust balance sheet, enabling us to fund the Company's organic growth initiatives through positive cash flows from operations. The Company remains bank debt-free, with $3.9 million in cash on hand and access to $12 million in unused credit facilities. We have achieved positive Adjusted EBITDA in nine of the past eleven quarters while consistently maintaining strong gross margins. The outlook for the remainder of fiscal 2025 is highly positive, supported by our strong financial position, which enables us to pursue compelling acquisitions and advance key internal developments."

QUARTERLY FINANCIAL HIGHLIGHTS FOR THE SECOND FISCAL QUARTER ENDED SEPTEMBER 30, 2024:

• Within continuing operations, the Company reported revenue of $8,089 during the second quarter of fiscal 2025, representing year-over-year revenue growth of 52%, or $2,750, compared to $5,339 for the prior fiscal year second quarter. The increase was due to the acquisition of NSSG, Avante Black growth and organic growth of its domestic business.

• Total gross profit from continuing operations increased by $1,359 in the second quarter of fiscal 2025 compared to the same quarter in fiscal 2024. Gross profit margins within continuing operations remained relatively stable at 43% compared to 40% during the prior year's second quarter, indicating a consistent level of profitability.

• The Avante Security segment delivered recurring monthly revenues ("RMR") of $3,666 during the second quarter of fiscal 2025, up from $2,834 during the Company's second quarter in the prior year, a year-over-year growth of 29%. The increase was due to net growth in monitoring customers and the introduction of new recurring revenue services to the existing client base.

• The Company achieved Adjusted EBITDA gain from continuing operations of $338 during the second quarter, compared to a gain of $227 for the prior fiscal year second quarter.

OUTLOOK

Management maintains a positive outlook for Fiscal 2025. The Company's long-term financials serve as a guide to developing and executing long-term corporate strategy. Management is pleased to reiterate the Company's long-term financial objectives:

• Increase recurring monthly revenues;

• Achieve consolidated Adjusted EBITDA margins consistent with its industry;

• Achieve growth in Adjusted Net Income per share;

• Reinvest cashflows in future business growth.

SUMMARY FINANCIAL RESULTS FOR THE SECOND FISCAL QUARTER ENDED SEPTEMBER 30, 2024:

Readers should refer to the Company's financial statements and MD&A in respect of its second fiscal quarter ended September 30, 2024, for additional risk factors, accounting policies, detailed financial disclosures, reconciliation of non-IFRS financial measures to the most directly comparable IFRS financial measures, related party transactions, contingencies, and reporting of subsequent events. Such financial statements and MD&A are incorporated by reference into this news release and are filed electronically through the System for Electronic Document Analysis and Retrieval ("SEDAR+"), which can be accessed at .

(1)Adjusted EBITDA and Recurring Monthly Revenues ("RMR") are non-IFRS financial measures that have no standard meaning under IFRS and as a result may not be comparable to the calculation of similar measures by other companies. See Description of Non-IFRS Financial Measures. Reconciliations of Adjusted EBITDA and RMR to Net Income or Revenues, as applicable, are provided in the Company's Management Discussion & Analysis ("MD&A").

The Company's ("RMR") from continuing operations during the last eight quarters are summarized below. Gross profit margins over the last eight quarters ranged between 37.7% and 44.2%, and were 41.9% on a trailing twelve-month basis to September 30, 2024:

(1)The Company's fiscal year end is on March 31 of each year. "F23" means the fiscal year ended March 31, 2023; and "F24" means the fiscal year ended March 31, 2024.

INVESTOR WEBINAR SCHEDULED FOR TUESDAY, NOVEMBER 26, 2024 at 1:00 pm ET (10:00 am PT)

The Company will also host an investor webinar to provide a corporate update and review its fiscal second quarter of fiscal 2025 financial results, on Tuesday, November 26, 2024, at 1:00 pm ET (10:00 am PT). The call will be hosted by: Emmanuel Mounouchos, CEO, Chairman, and Founder of Avante, and Raj Kapoor, CFO of Avante.

Webinar Details:

ABOUT AVANTE CORP.:

Avante Corp Inc. is a Toronto based leading provider of security operatives and technology enabled security solutions to residential and commercial clients. Avante's mission is to deliver an elevated level of security globally, with white-glove mentality to high- net-worth families and corporations alike, through advanced solutions and methods of detecting conditions that require immediate response. The Company has developed a diversified security platform that leverages advanced technology solutions to provide a superior level of security services. With an experienced team and proven track record of solid growth, Avante is taking steps to establish a broad portfolio of security businesses and solutions for its customers through organic growth complemented by strategic acquisitions. Avante acquires, manages and builds industry leading businesses which provide specialized, mission-critical solutions that address the security risks of its clients. Avante is listed on the TSX Venture Exchange under the ticker "XX". For more information, please visit and consider joining our investor email list.

Emmanuel Mounouchos
Founder, CEO & Board Chair, Avante Corp.
416-923-6984
manny@avantesecurity.com

This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities described herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This news release does not constitute an offer of securities for sale in the United States. The securities described herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements.

Non-IFRS Financial Measures

This press release includes certain measures which have not been prepared in accordance with International Financial Reporting Standards ("IFRS") such as EBITDA, Adjusted EBITDA and Recurring Monthly Revenue ("RMR"). These non-IFRS measures are not recognized under IFRS and and do not have a standardized meaning prescribed by IFRS. Accordingly, users are cautioned that these measures should not be construed as alternatives to net income determined in accordance with IFRS. The non-IFRS measures presented are unlikely to be comparable to similar measures presented by other issuers.

References to EBITDA are to net income before interest, taxes, depreciation and amortization. References to Adjusted EBITDA are to net income before interest, taxes, depreciation, amortization of intangibles & capitalized commissions, share-based payments, acquisition, integration and / or reorganization costs, deferred financing costs, loss (gain) in fair value of derivative liability and expensing of fair value adjustments per IFRS. Recurring Monthly Revenues, or RMR, represent revenue during the fiscal period that benefited from contractual periodic billing to customers, typically monthly, quarterly or annually.

Management believes that Adjusted EBITDA and Recurring Monthly Revenues are appropriate additional measures for evaluating Avante's performance. Readers are cautioned that neither EBITDA, Adjusted EBITDA nor Recurring Monthly Revenues should be construed as an alternative to net income or revenues (as such financial measures are determined under IFRS), as an indicator of financial performance or to cash flow from operating activities (as determined under IFRS) or as a measure of liquidity and cash flow. Avante's method of calculating EBITDA, Adjusted EBITDA and Recurring Monthly Revenues may differ from methods used by other issuers and, accordingly, Avante's reported Non-IFRS measures may not be comparable to similar measures used by other issuers.

Forward-Looking Information

This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to the business of the Company and the environment in which it operates. Forward-looking statements are identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may" "estimate", "pro-forma" and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts and projections. The forward-looking statements in this news release are based on certain assumptions. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the Company's ability to achieve the benefits expected as a result of the sale of Logixx Security Inc., anticipated growth from acquisitions, new service offerings and from development and deployment of new technologies and the list of risk factors identified in the Company's Management Discussion & Analysis (MD&A), Annual Information Form (AIF) and other continuous disclosure documents available at . There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update any such statement, whether as a result of new information, future events or otherwise.

Neither 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.