Pineapple Financial Inc. Reports 34.6% Revenue Growth and 26.8% Reduction in Net Loss for First Quarter of Fiscal 2025
Pineapple Financial Inc. (NYSE American: PAPL) reported strong financial results for Q1 FY2025 ended November 30, 2024. The company achieved 34.6% revenue growth to $766,074, up from $569,355 year-over-year, driven by increased customer demand and enhanced service offerings.
The company's net loss decreased by 26.8% to $656,894, compared to $897,757 in Q1 FY2024. Cash position strengthened to $619,581, while total assets reached $4,137,152. Operating expenses were $1,459,589, reflecting investments in advertising, marketing, and technology.
During the quarter, Pineapple raised $566,930 in additional share capital and invested $282,298 in intangible assets. The company maintains its trajectory toward profitability, targeted for April 2025, supported by operational efficiency improvements and strong market demand in the Canadian mortgage industry.
Pineapple Financial Inc. (NYSE American: PAPL) ha riportato risultati finanziari solidi per il primo trimestre dell'anno fiscale 2025, conclusosi il 30 novembre 2024. L'azienda ha raggiunto una crescita del fatturato del 34,6%, arrivando a $766.074, rispetto ai $569.355 dell'anno precedente, grazie all'aumento della domanda dei clienti e al miglioramento delle offerte di servizi.
La perdita netta della società è diminuita del 26,8%, attestandosi a $656.894, rispetto ai $897.757 del primo trimestre dell'anno fiscale 2024. La posizione di cassa è migliorata a $619.581, mentre il totale attivo ha raggiunto $4.137.152. Le spese operative sono state di $1.459.589, riflettendo investimenti in pubblicità, marketing e tecnologia.
Durante il trimestre, Pineapple ha raccolto $566.930 in capitale azionario aggiuntivo e ha investito $282.298 in attività immateriali. L'azienda mantiene la sua traiettoria verso la redditività, prevista per aprile 2025, supportata da miglioramenti dell'efficienza operativa e da una forte domanda di mercato nel settore dei mutui canadese.
Pineapple Financial Inc. (NYSE American: PAPL) reportó resultados financieros fuertes para el primer trimestre del año fiscal 2025, que finalizó el 30 de noviembre de 2024. La compañía logró un crecimiento del 34,6% en ingresos, alcanzando $766,074, un aumento desde los $569,355 del año anterior, impulsado por la creciente demanda de los clientes y la mejora en la oferta de servicios.
La pérdida neta de la empresa disminuyó un 26,8% a $656,894, en comparación con $897,757 en el primer trimestre del año fiscal 2024. La posición de efectivo se fortaleció a $619,581, mientras que el total de activos alcanzó $4,137,152. Los gastos operativos fueron de $1,459,589, reflejando inversiones en publicidad, marketing y tecnología.
Durante el trimestre, Pineapple recaudó $566,930 en capital social adicional e invirtió $282,298 en activos intangibles. La empresa mantiene su trayectoria hacia la rentabilidad, prevista para abril de 2025, respaldada por mejoras en la eficiencia operativa y una fuerte demanda del mercado en la industria hipotecaria canadiense.
파인애플 파이낸셜 주식회사 (NYSE American: PAPL)는 2024년 11월 30일 종료된 2025 회계년 1분기 강력한 재무 결과를 보고했습니다. 회사는 고객 수요 증가와 서비스 제공 개선에 힘입어 34.6%의 매출 성장을 달성하여 $766,074로 증가했으며, 이는 작년의 $569,355에 비해 증가한 수치입니다.
회사의 순손실은 26.8% 감소하여 $656,894에 달했으며, 이는 2024 회계연도 1분기의 $897,757에 비해 낮은 수치입니다. 현금 위치는 $619,581로 강화되었고, 총 자산은 $4,137,152에 도달했습니다. 운영비용은 $1,459,589로, 광고, 마케팅 및 기술에 대한 투자를 반영하고 있습니다.
분기 중에 파인애플은 추가 주식 자본으로 $566,930를 조달하고, 무형 자산에 $282,298를 투자했습니다. 이 회사는 2025년 4월로 예정된 수익성 목표를 향해 나아가고 있으며, 운영 효율성 향상과 캐나다 주택 담보 대출 산업에서의 강력한 시장 수요에 의해 지원받고 있습니다.
Pineapple Financial Inc. (NYSE American: PAPL) a déclaré des résultats financiers solides pour le premier trimestre de l'exercice 2025, se terminant le 30 novembre 2024. La société a atteint une croissance de 34,6 % de ses revenus, atteignant 766 074 $, contre 569 355 $ l'année précédente, soutenue par une demande accrue des clients et des offres de services améliorées.
La perte nette de l'entreprise a diminué de 26,8 % pour s'établir à 656 894 $, par rapport à 897 757 $ au premier trimestre de l'exercice 2024. La position de trésorerie s'est renforcée pour atteindre 619 581 $, tandis que le total des actifs a atteint 4 137 152 $. Les charges d'exploitation se sont élevées à 1 459 589 $, reflétant des investissements dans la publicité, le marketing et la technologie.
Durant le trimestre, Pineapple a levé 566 930 $ de capitaux propres supplémentaires et a investi 282 298 $ dans des actifs incorporels. L'entreprise maintient sa trajectoire vers la rentabilité, prévue pour avril 2025, soutenue par des améliorations de l'efficacité opérationnelle et une forte demande du marché dans l'industrie hypothécaire canadienne.
Pineapple Financial Inc. (NYSE American: PAPL) berichtete über starke Finanzzahlen für das erste Quartal des Geschäftsjahres 2025, das am 30. November 2024 endete. Das Unternehmen erzielte ein Umsatzwachstum von 34,6% auf $766.074, gegenüber $569.355 im Vorjahr, bedingt durch die erhöhte Kundennachfrage und verbesserte Dienstleistungsangebote.
Der Nettoverlust des Unternehmens verringerte sich um 26,8% auf $656.894, im Vergleich zu $897.757 im ersten Quartal des Geschäftsjahres 2024. Die Liquiditätsposition wurde auf $619.581 gestärkt, während die Gesamtsumme der Vermögenswerte $4.137.152 erreichte. Die Betriebsausgaben betrugen $1.459.589, was die Investitionen in Werbung, Marketing und Technologie widerspiegelt.
Im Laufe des Quartals hat Pineapple $566.930 zusätzliches Eigenkapital beschafft und $282.298 in immaterielle Vermögenswerte investiert. Das Unternehmen verfolgt weiterhin seinen Weg zur Rentabilität, die für April 2025 angestrebt wird, unterstützt durch Effizienzsteigerungen im Betrieb und eine starke Marktnachfrage in der kanadischen Hypothekenbranche.
- Revenue increased 34.6% YoY to $766,074
- Net loss reduced by 26.8% to $656,894
- Cash position improved to $619,581
- Raised $566,930 in additional capital
- Loss per share improved to $0.13 from $0.14
- Operating expenses increased to $1,459,589
- Interest expense rose significantly to $174,505 from $21,407
- Comprehensive loss increased to $929,245 from $873,179
- Government incentives decreased to $27,219 from $51,047
Insights
The Q1 FY2025 results demonstrate a complex financial picture. Revenue growth of
The company's cash position of
Key concerns include rising interest expenses (
The Canadian mortgage market context is particularly relevant for PAPL's performance. The company's
The anticipated Bank of Canada rate cuts could significantly benefit PAPL's business model by stimulating mortgage activity. However, the current loss per share of
Continued Momentum with
Toronto, Ontario--(Newsfile Corp. - January 21, 2025) - Pineapple Financial Inc. (NYSE American: PAPL), a leading provider of innovative financial solutions in the mortgage industry, today announced its financial results for the first quarter ended November 30, 2024. The company continues to make significant progress in its journey toward sustained growth and profitability, driven by operational efficiency improvements from past investments and a strong increase in customer demand.
Key Financial Highlights:
- Revenue Growth: Pineapple Financial reported a
34.6% increase in revenue, totaling$766,074 for the quarter, up from$569,355 during the same period last year. This growth was fueled by increased customer demand, broader market presence, and ongoing enhancements to the company's service offerings. - Cash Flow Strength: As of November 30, 2024, Pineapple's cash position rose to
$619,581 , supported by strong financing activities and improved cash management. This robust cash flow provides the company with the liquidity to continue fueling growth initiatives and operational improvements. - Net Loss Reduction: Pineapple's net loss for the quarter was
$656,894 , reflecting a26.8% improvement from a net loss of$897,757 in Q1 FY2023-2024. This reduction in net loss is a clear indicator that the company's strategy of optimizing operations and investing in high-impact growth initiatives is gaining traction. - Improved Operational Efficiency: Total operating expenses for the quarter were
$1,459,589 , a modest increase from$1,445,681 in Q1 FY2023-2024. This increase reflects continued investments in advertising, marketing, and the company's ongoing technology advancements, which are expected to yield long-term benefits by driving further operational efficiencies.
Strategic and Operational Updates:
- Pineapple issued an additional
$566,930 in share capital, further strengthening the company's financial position and providing additional resources for strategic investments. - The company made significant advancements in technology and infrastructure, investing
$282,298 in intangible assets during the quarter. These investments are expected to contribute to operational efficiencies and enhance customer satisfaction moving forward. - Pineapple continues to emphasize operational efficiency and cost management, driving profitability improvements and positioning the company for sustained long-term growth.
Balance Sheet Highlights:
- Total assets reached
$4,137,152 , reflecting a modest increase from$4,096,592 as of August 31, 2024. - Shareholders' equity amounted to
$1,151,902 , underscoring Pineapple's dedication to creating value for its investors and ensuring strong financial health.
CEO Statement:
"We are encouraged by our strong revenue growth and the continued improvement in operational efficiency this quarter," said Shubha Dasgupta, CEO of Pineapple Financial Inc. "Our ongoing investments in technology and infrastructure, coupled with a relentless focus on cost management, are driving the progress we've made toward profitability. As we look ahead, we remain committed to delivering sustainable growth, enhancing profitability, and maximizing long-term value for our shareholders."
Broader Market Context:
The Canadian mortgage industry is experiencing a notable shift, driven by favorable economic conditions and a renewed focus on housing affordability. Recent policy changes, combined with the Bank of Canada's rate cuts, have already begun to stimulate activity in the housing market, presenting new opportunities for mortgage providers and lenders. At Pineapple, we are well-positioned to capitalize on these changing dynamics, with our investments in technology and customer-centric solutions allowing us to meet the growing demand for innovative, data-driven mortgage services. As the market continues to evolve, we remain confident that our strategic initiatives will enable us to continue driving growth and profitability, helping to shape the future of the Canadian mortgage landscape.
Pineapple Financial Inc.
Condensed Interim Consolidated Statements of Operations and Comprehensive Loss - Unaudited
(Expressed in US Dollars)
| Three Months Ended | |||||
| For the period ended | November 30, 2024 | November 30, 2023 | |||
| (Unaudited) | (Unaudited) | ||||
| Revenue | $ | 766,074 | $ | 569,355 | |
| Expenses | |||||
| Selling, general and administrative | 417,406 | 560,151 | |||
| Advertising and Marketing | 273,009 | 133,470 | |||
| Salaries, wages and benefits | 436,365 | 644,273 | |||
| Interest expense and bank charges | 174,505 | 21,407 | |||
| Depreciation and amortization | 185,523 | 137,427 | |||
| Government Incentive | (27,219) | (51,047) | |||
| Total expenses | $ | 1,459,589 | $ | 1,445,681 | |
| Loss from operations | (693,515) | (876,326) | |||
| Foreign exchange gain (loss) | 5,089 | (10,691) | |||
| Gain on change in fair value of warrant liability | 31,532 | (10,740) | |||
| Loss before income taxes | $ | (656,894) | $ | (897,757) | |
| Net loss | (656,894) | (897,757) | |||
| Foreign currency translation adjustment | (272,351) | 24,578 | |||
| Net loss and comprehensive loss | $ | (929,245) | $ | (873,179) | |
| Loss per share - basic and diluted | $ | (0.13) | $ | (0.14) | |
| Weighted average number of common shares outstanding - basic and diluted | 7,145,939 | 6,566,594 | |||
The accompanying notes are an integral part of these unaudited condensed interim consolidated financial statements
About Pineapple
Pineapple is an award-winning fintech and leading Canadian mortgage brokerage network, focusing on both the long-term success of agents and brokers as well as the overall experience of homeowners. With hundreds of brokers within the network, Pineapple creates cutting-edge cloud-based tools and AI-driven systems to enable its brokers to help Canadians realize their dream of owning a home. Pineapple is active within the community and is proud to sponsor charities across Canada to improve the lives of fellow Canadians.
Follow us on social media:
Instagram: @pineapplemortgage @empoweredbypineapple
Facebook: Pineapple Mortgage
LinkedIn: Pineapple Mortgage
Safe Harbor Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. They are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and economic needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the registration statement filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results. It encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.
Media Contact:
For media inquiries, please contact Shubha Dasgupta, Chief Executive Officer, at Pineapple.
Email: shubha@gopineapple.com
Related Links:
http://empoweredbypineapple.com
Investor Relations Contact:
For investor relations inquiries, please contact Pineapple Financial Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237920
FAQ
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