Pineapple Financial Inc., a Canadian mortgage technology and brokerage platform, reported its Q3 Fiscal 2025 financial results. The company achieved gross billings of $14.23 million for the nine months ended May 31, 2025, reflecting a 15.23% increase from $12.35 million in the same period last year. Revenue rose by 11.78% to $2.26 million, compared to $1.97 million in 2024. Operating expenses decreased by 3.48% to $4.25 million, down from $4.42 million the previous year. This led to a reduction in operating loss, which narrowed by 16.76% to $1.99 million from $2.45 million in the prior year. The net cash used in operations improved significantly to $439,198, compared to $1.44 million in the same period last year. As of May 31, 2025, the company had cash on hand totaling $1.13 million, up from $580,356 at August 31, 2024. Additionally, Pineapple Financial's Board approved a 1-for-20 reverse stock split on June 26, 2025, to meet NYSE American relisting requirements and align long-term shareholder value. The company continues to trade on the OTC Markets and has access to a $15 million equity line of credit for future liquidity needs.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.