45% Gain for Reklaim After Its Third Profitable Quarter in a Row

Reklaim sells data that people have agreed to share about themselves. On November 3, 2026 the Toronto company reported that this business earned C$1.27 million in the three months to September 30, its third profitable quarter in a row.

The shares closed at C$0.40 on the TSX Venture Exchange that day, up C$0.125 or 45.5 per cent from the previous close of C$0.275, per end-of-day data read at 16:20 ET on November 3, 2026 from TMX Money. Volume on the venture exchange was 1,934,945 shares, about 15.8 times the 30-day average of 122,277 shares that QuoteMedia showed that day. Both figures are secondary market data.

A small loan that can become shares, October 2025

On October 29, 2025 the company issued C$500,000 of 12 per cent senior secured convertible debentures in a non-brokered private placement, according to its release of November 2, 2026. A convertible debenture is a loan the lender may swap for shares at a fixed price; "senior secured" means it ranks ahead of other creditors and is backed by the company's assets.

The conversion price is C$0.105 a share and the loan matures on October 29, 2028. The units also carried 2,380,952 warrants, each exercisable for one share at C$0.14 for 36 months from issue, according to the company's closing release of October 31, 2025; the November 2 release says their terms will not change. Full conversion of the C$500,000 at C$0.105 would come to about 4.76 million shares, a figure worked from the release's own terms rather than stated in it.

On December 1, 2025 Reklaim described 2025 as a product investment year, with year-to-date revenue up 10 per cent. The third quarter of 2025 had produced revenue of C$1,099,363 and a net loss of C$514,636, the comparison figures the company used this week.

The losses stopped in the first half of 2026

The turn came early in 2026. Strategic investments drove a return to profitability, the company said in its first-quarter release (cited here from Barchart's copy of it), and the November 3 release places the first two profitable quarters in the first half.

The nine-month figures show how the year has built. Net income for the nine months to September 30, 2026 was C$2,359,914 on revenue of C$7,592,647, the November 3 release reported.

The release says third-quarter net income was 76.0 per cent higher than in the second quarter, so net income for the quarter to June 30, 2026 works out to about C$723,000 (C$1,272,063 divided by 1.76). Subtracting both from the nine-month total leaves roughly C$365,000 for the quarter to March 31. Each quarter has earned more than the one before.

Operating activities generated C$1,733,522 over the nine months, according to the same release. Operating cash flow is the money the business itself brought in, before any financing or investment.

Revenue nearly tripled and margin widened in the third quarter

Revenue for the three months to September 30, 2026 rose 187.1 per cent from a year earlier, and gross profit rose faster. Gross profit is revenue less the direct cost of producing it. The gross margin, gross profit as a share of revenue, reached 87.2 per cent, against 76.6 per cent in the second quarter, per the November 3 release.

Operating expenses grew far more slowly than revenue, up 12.2 per cent from a year earlier.

Source: Reklaim release of November 3, 2026.

The release explains where the revenue comes from but does not break it down. Reklaim describes itself as a consumer data privacy and monetization platform that lets people see, remove or earn from their personal data, and that supplies consumer-permissioned data to brands, agencies, platforms and enterprise partners. Consumer-permissioned data is information a person has agreed to share. Revenue comes from data licensing, audience activation and enterprise data partnerships, in the company's words; the November 3 release gives no split between them and no customer count. It also gives no guidance for the fourth quarter.

The November 3 release does not explain the rise in gross margin. In its MD&A for the quarter, filed on SEDAR+ on November 2, 2026, Reklaim says margins remained strong despite higher revenue-sharing costs associated with increased platform activity, and that it expects margins to remain healthy through the rest of 2026. Cost of services was C$403,499 in the third quarter against C$614,902 in the second, per the MD&A.

The buyback

Reklaim bought back 5,149,000 of its own shares in the third quarter under its normal course issuer bid, bringing purchases in 2026 to 11,275,000 shares, according to the November 3 release. A normal course issuer bid is an exchange-approved programme under which a company buys its own shares on the open market, up to a set limit.

On October 5, 2026 the company cancelled the 5,149,000 shares bought in the quarter, bringing total cancellations to the full amount bought this year. Cancelled shares cease to exist, so each remaining share holds a slightly larger claim on the earnings. TMX Money listed 124,445,920 issued and outstanding shares on November 3, a quote-feed figure; the interim financial statements for the nine months to September 30, 2026, filed on SEDAR+ on November 2, 2026, give 119,296,920 shares issued and outstanding at September 30, a count that already excludes all 11,275,000 shares bought back; the TMX figure is 5,149,000 higher, the number cancelled on October 5.

Warrants, stock options and restricted share units sit on top of that count, according to the company's MD&A for the quarter. The MD&A says the company may accelerate the warrants' expiry if the 20-day volume-weighted average price exceeds C$0.15.

Source: Reklaim interim financial statements and MD&A for the nine months to September 30, 2026, SEDAR+, filed November 2, 2026.

The company also moved its United States trading line from OTC Pink to the OTCQB Venture Market during the period. The symbol there remains MYIDF.

On November 2, an early way out for the debenture holders

On November 2, 2026, the day before the results, Reklaim proposed amending the 2025 debentures. Holders would be allowed to convert all or part of their principal into shares before maturity, at the existing C$0.105 price, by written notice. Interest would stop on principal once converted, and any principal not converted would keep its 12 per cent rate and its security.

The amendment is a proposal. It needs the approval of the TSX Venture Exchange and amending agreements with the debenture holders, and the company said it intends to apply to the exchange. No holder may convert to the extent that it would own 20 per cent or more of the shares, unless shareholders first approve under exchange policy.

Full conversion would add the 4.76 million shares worked out above, or about 4.0 per cent of the 119,296,920 shares outstanding at September 30, 2026 in the interim statements; set beside the 11,275,000 shares Reklaim has cancelled this year, a comparison this desk draws rather than the company, it is the smaller number. The 2,380,951 warrants at C$0.14 would add up to that many more if exercised. Holders who convert would receive shares at C$0.105, against the C$0.40 close on November 3; at that close the shares would be worth about C$1.9 million against C$500,000 of principal. The release does not name the holders.

What the market did on November 3

The results release went out on November 3. The shares opened at C$0.38 and traded as high as C$0.415, per TMX Money. Consolidated volume across all Canadian venues was 2,644,111 shares. At the close, the market value of the listed shares was about C$49.8 million on TMX Money's share count. On the 119,296,920 shares in the September 30 statements, the C$0.40 close comes to about C$47.7 million.

The past year puts the day in a longer frame. TMX Money showed a 52-week low of C$0.03 against the C$0.40 close.

Reklaim's releases in November mention no paid research or promotional arrangement around the results.

The balance sheet at September 30

At September 30, 2026 Reklaim held more cash than its secured debt, according to the interim financial statements filed on SEDAR+ on November 2, 2026.

Source: Reklaim interim financial statements, September 30, 2026.

The statements describe the October 2025 debenture as an arrangement of up to C$1,000,000, of which C$500,000 was advanced. The September 30, 2026 statements' going-concern note reports a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern; management says that ability depends on generating positive cash flow from operations or obtaining financing if required, and notes nine-month operating cash flow of C$1,733,522.

The exchange's decision on the debenture amendment comes after the company files its application.