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), a leading provider of innovative financial solutions in the mortgage industry, has reported strong financial results for the first quarter of fiscal 2025, ended November 30, 2024. The company's revenue grew by 34.6% year-over-year, while its net loss decreased by 26.8% during the same period. These impressive results reflect Pineapple Financial's strategic focus on operational efficiency and high-impact growth initiatives.



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 a 26.8% 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.



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.

In conclusion, Pineapple Financial Inc.'s strong financial results for the first quarter of fiscal 2025 demonstrate the company's commitment to operational efficiency and high-impact growth initiatives. With a 34.6% increase in revenue and a 26.8% reduction in net loss, Pineapple Financial is well-positioned to continue driving growth and profitability in the Canadian mortgage industry.