Pineapple Financial Inc. Financials
This page shows Pineapple Financial Inc. (PAPL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Pineapple Financial Inc. has an operating margin of -98.7%, meaning the company retains $-99 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -142.2% the prior year.
Pineapple Financial Inc.'s revenue grew 11.1% year-over-year to $3.0M, a solid pace of expansion. This earns a growth score of 52/100.
Pineapple Financial Inc. has elevated debt relative to equity (D/E of 4.97), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 1/100, reflecting increased financial risk.
Pineapple Financial Inc.'s current ratio of 0.77 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 10/100, which could limit financial flexibility.
Pineapple Financial Inc. generates a -401.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -304.1% the prior year.
Pineapple Financial Inc. passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Pineapple Financial Inc. generates $0.26 in operating cash flow (-$947K OCF vs -$3.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Pineapple Financial Inc. earns $-60.7 in operating income for every $1 of interest expense (-$2.9M vs $49K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Pineapple Financial Inc. generated $3.0M in revenue in fiscal year 2025. This represents an increase of 11.1% from the prior year.
Pineapple Financial Inc.'s EBITDA was -$1.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 50.0% from the prior year.
Pineapple Financial Inc. reported -$3.6M in net income in fiscal year 2025. This represents an increase of 11.3% from the prior year.
Pineapple Financial Inc. earned $-5.31 per diluted share (EPS) in fiscal year 2025. This represents an increase of 53.7% from the prior year.
Cash & Balance Sheet
Pineapple Financial Inc. held $2.1M in cash against $0 in long-term debt as of fiscal year 2025.
Pineapple Financial Inc. had 1M shares outstanding in fiscal year 2025. This represents an increase of 219.4% from the prior year.
Margins & Returns
Pineapple Financial Inc.'s gross margin was 46.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.8 percentage points from the prior year.
Pineapple Financial Inc.'s operating margin was -98.7% in fiscal year 2025, reflecting core business profitability. This is up 43.5 percentage points from the prior year.
Pineapple Financial Inc.'s net profit margin was -121.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 30.8 percentage points from the prior year.
Pineapple Financial Inc.'s ROE was -401.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 97.2 percentage points from the prior year.
Capital Allocation
PAPL Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $722K-1.2% | $731K-2.2% | $747K+0.5% | $743K-3.0% | $766K+28.0% | $598K-18.8% | $736K-6.2% | $785K |
| Cost of Revenue | $363K-31.1% | $528K+118.2% | $242K-42.5% | $421K+1.6% | $414K+22.0% | $340K-17.3% | $411K+19.2% | $345K |
| Gross Profit | $358K+76.6% | $203K-59.8% | $505K+56.6% | $322K-8.3% | $352K+36.0% | $259K-20.6% | $326K-26.0% | $440K |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $395K-46.3% | $736K+39.4% | $528K-7.9% | $573K+37.2% | $417K-43.5% | $738K+50.1% | $492K-17.0% | $592K |
| Operating Income | -$6.6M-584.3% | -$959K-37.7% | -$697K-16.3% | -$599K+13.6% | -$694K+50.2% | -$1.4M-55.4% | -$896K-35.9% | -$659K |
| Interest Expense | $237K+192.1% | -$257K-923.8% | $31K-68.8% | $100K-42.7% | $175K+5282.6% | $3K-92.0% | $40K+41.9% | $28K |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$6.4M-252.0% | -$1.8M-227.8% | -$558K+6.3% | -$595K+9.4% | -$657K+61.9% | -$1.7M-103.1% | -$849K-29.1% | -$657K |
| EPS (Diluted) | $-4.79 | N/A | $-0.05+44.4% | $-0.09+96.5% | $-2.60 | N/A | $-0.12-20.0% | $-0.10 |
PAPL Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $10.6M+96.2% | $5.4M+15.2% | $4.7M+18.6% | $4.0M-4.2% | $4.1M+1.0% | $4.1M-4.9% | $4.3M-22.7% | $5.6M |
| Current Assets | $1.8M-22.8% | $2.3M+66.1% | $1.4M+60.4% | $871K-9.0% | $957K+7.1% | $893K-15.1% | $1.1M-56.5% | $2.4M |
| Cash & Equivalents | $1.5M-30.1% | $2.1M+86.6% | $1.1M+129.9% | $494K-20.3% | $620K+6.8% | $580K-22.5% | $749K-44.1% | $1.3M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $144K+55.9% | $92K | N/A | N/A | N/A | $155K | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $16.1M+257.3% | $4.5M+16.9% | $3.9M+19.7% | $3.2M+8.0% | $3.0M+8.7% | $2.7M+21.5% | $2.3M-13.8% | $2.6M |
| Current Liabilities | $14.8M+392.8% | $3.0M+24.4% | $2.4M+13.4% | $2.1M+19.2% | $1.8M+27.7% | $1.4M+102.8% | $690K-41.9% | $1.2M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$5.5M-705.3% | $907K+7.6% | $843K+13.9% | $740K-45.2% | $1.3M0.0% | $1.3M-34.1% | $2.0M-30.6% | $2.9M |
| Retained Earnings | -$19.8M-48.0% | -$13.4M-15.8% | -$11.6M-5.1% | -$11.0M-5.7% | -$10.4M-6.7% | -$9.8M-21.4% | -$8.0M-11.8% | -$7.2M |
PAPL Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$490K+3.5% | -$508K-227.9% | $397K+330.0% | -$173K+74.0% | -$664K-150.7% | -$265K-315.1% | $123K+122.6% | -$544K |
| Capital Expenditures | $2K | N/A | N/A | N/A | N/A | $29-91.2% | $330-87.3% | $3K |
| Free Cash Flow | -$492K | N/A | N/A | N/A | N/A | -$265K-315.7% | $123K+122.5% | -$546K |
| Investing Cash Flow | -$12.1M-9020.4% | -$133K+51.2% | -$272K-5.8% | -$257K+8.9% | -$282K-30.6% | -$216K+36.1% | -$339K-15.3% | -$294K |
| Financing Cash Flow | $12.0M+640.3% | $1.6M+164.7% | $610K+1493.3% | $38K-96.8% | $1.2M+175.1% | $432K+268.3% | -$257K-525.8% | -$41K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
PAPL Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 49.6%+21.9pp | 27.8%-39.9pp | 67.6%+24.2pp | 43.4%-2.5pp | 45.9%+2.7pp | 43.2%-1.0pp | 44.2%-11.9pp | 56.1% |
| Operating Margin | -909.1%-777.9pp | -131.3%-38.0pp | -93.3%-12.7pp | -80.6%+10.0pp | -90.5%+142.3pp | -232.8%-111.1pp | -121.7%-37.7pp | -84.0% |
| Net Margin | -891.6%-641.3pp | -250.3%-175.6pp | -74.7%+5.4pp | -80.1%+5.6pp | -85.8%+202.3pp | -288.0%-172.8pp | -115.2%-31.5pp | -83.8% |
| Return on Equity | N/A | -201.7%-135.5pp | -66.2%+14.3pp | -80.5%-31.8pp | -48.7%+79.0pp | -127.7%-86.3pp | -41.4%-19.1pp | -22.3% |
| Return on Assets | -60.6%-26.8pp | -33.8%-21.9pp | -11.9%+3.2pp | -15.0%+0.9pp | -15.9%+26.2pp | -42.1%-22.4pp | -19.7%-7.9pp | -11.8% |
| Current Ratio | 0.12-0.7 | 0.77+0.2 | 0.58+0.2 | 0.41-0.1 | 0.54-0.1 | 0.64-0.9 | 1.53-0.5 | 2.03 |
| Debt-to-Equity | -2.94-7.9 | 4.97+0.4 | 4.58+0.2 | 4.36+2.1 | 2.21+0.2 | 2.04+0.9 | 1.10+0.2 | 0.89 |
| FCF Margin | -68.1% | N/A | N/A | N/A | N/A | -44.2%-60.9pp | 16.7%+86.3pp | -69.6% |
Note: The current ratio is below 1.0 (0.77), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Pineapple Financial Inc.'s annual revenue?
Pineapple Financial Inc. (PAPL) reported $3.0M in total revenue for fiscal year 2025. This represents a 11.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Pineapple Financial Inc.'s revenue growing?
Pineapple Financial Inc. (PAPL) revenue grew by 11.1% year-over-year, from $2.7M to $3.0M in fiscal year 2025.
Is Pineapple Financial Inc. profitable?
No, Pineapple Financial Inc. (PAPL) reported a net income of -$3.6M in fiscal year 2025, with a net profit margin of -121.8%.
What is Pineapple Financial Inc.'s EBITDA?
Pineapple Financial Inc. (PAPL) had EBITDA of -$1.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Pineapple Financial Inc.'s gross margin?
Pineapple Financial Inc. (PAPL) had a gross margin of 46.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Pineapple Financial Inc.'s operating margin?
Pineapple Financial Inc. (PAPL) had an operating margin of -98.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Pineapple Financial Inc.'s net profit margin?
Pineapple Financial Inc. (PAPL) had a net profit margin of -121.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Pineapple Financial Inc.'s return on equity (ROE)?
Pineapple Financial Inc. (PAPL) has a return on equity of -401.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Pineapple Financial Inc.'s operating cash flow?
Pineapple Financial Inc. (PAPL) generated -$947K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Pineapple Financial Inc.'s total assets?
Pineapple Financial Inc. (PAPL) had $5.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Pineapple Financial Inc.'s current ratio?
Pineapple Financial Inc. (PAPL) had a current ratio of 0.77 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Pineapple Financial Inc.'s debt-to-equity ratio?
Pineapple Financial Inc. (PAPL) had a debt-to-equity ratio of 4.97 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Pineapple Financial Inc.'s return on assets (ROA)?
Pineapple Financial Inc. (PAPL) had a return on assets of -67.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Pineapple Financial Inc.'s cash runway?
Based on fiscal year 2025 data, Pineapple Financial Inc. (PAPL) had $2.1M in cash against an annual operating cash burn of $947K. This gives an estimated cash runway of approximately 27 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Pineapple Financial Inc.'s Piotroski F-Score?
Pineapple Financial Inc. (PAPL) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Pineapple Financial Inc.'s earnings high quality?
Pineapple Financial Inc. (PAPL) has an earnings quality ratio of 0.26x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Pineapple Financial Inc. cover its interest payments?
Pineapple Financial Inc. (PAPL) has an interest coverage ratio of -60.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Pineapple Financial Inc.?
Pineapple Financial Inc. (PAPL) scores 12 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.