Toronto, Ontario--(Newsfile Corp. - July 15, 2024) - Pineapple Financial Inc. (NYSE American: PAPL), a leading tech-focused mortgage firm with an integrated network of partner brokerages and agents across Canada, today announced that, for its third 2024 fiscal quarter ended May 31, 2024, the company achieved revenue of $736,448, a 20.43 percent increase as compared to revenue of $603,231 for its fiscal 2023 third quarter ended May 31, 2023.
Pineapple generated $377.64 million in residential mortgage loans in Q3 fiscal 2024, compared to $307.73 million in Q3 fiscal 2023, representing an increase of $69.91 million, or 22.72 percent.
Selling, general and administrative expenses during the three months ended May 31, 2024, were $491,666, a 29.62 percent decrease as compared to SG&A expenses of $698,568 during the corresponding period in 2023. This decrease was due to the absence of expenses incurred last year for the preparation of our IPO. The company had a net loss of $848,605, or $(0.12) per share, in fiscal Q3 2024, a 4.99 percent increase on the net loss of $808,234, or $(0.13) per share, in the corresponding quarter in fiscal 2023.
For the first nine months of fiscal 2024, which ended May 31, 2024, the company had revenue of $1,971,377, a 1.73 percent improvement on revenue of $1,937,923 achieved in the first nine months of fiscal 2023.
The company generated $1,083.771 million in residential mortgage loans in the first nine months of fiscal 2024 compared to $966.531 million in the corresponding period of fiscal 2023, representing an increase of $117.24 million, or 12.13 percent.
SG&A expenses in the first nine months of fiscal 2024 were $1,545,900, a 4.41 percent decrease compared to SG&A expenses of $1,617,231 during the first nine months of fiscal 2023. Pineapple had a net loss of $2,379,444, or $(0.37) per share, in the first nine months of FY 2024, compared to a net loss of $2,211,981, or $(0.35) per share, during the same period in FY2023.
The company's cash position on May 31, 2024, was $1,052,207, a decrease of $645,296 compared to a cash position on August 31, 2023, of $1,697,503.
Weighted average common shares outstanding were 7,181,978 on May 31, 2024, and 6,306,979 on May 31, 2023.
"We are very gratified by our 2024 third-quarter fiscal results," said co-founder and chief executive officer Shubha Dasgupta. "This quarter saw positive movement in the right direction from both macroeconomic and business perspectives. Although the real estate market across the country has faced challenges, positive signs have begun to emerge. The Bank of Canada has started reducing interest rates, fixed mortgage rates have dropped, and we are seeing more supply coming onto the market. Additionally, policy changes such as the introduction of 30-year amortizations for first-time homebuyers indicate a focus on helping younger Canadians enter the housing market."
From a business perspective, we have continued to grow, even in challenging markets, which is a testament to our resilience and effectiveness as a business and a platform for hundreds of brokers across the country. We have launched a variety of new technology products to increase revenue and decrease costs, participated in numerous conferences, and continued to expand into new markets and add new offices this quarter.
"We are exceptionally pleased with the significant strides we've made this quarter," said co-founder and chief executive officer Shubha Dasgupta. "The new technology products we've launched are driving both increased revenue and reduced costs, demonstrating our commitment to innovation and efficiency. Our participation in numerous conferences and ongoing expansion into new markets highlight our relentless pursuit of growth. As the Canadian real estate market shows signs of recovery, we are poised to capitalize on these favourable conditions and continue our upward trajectory, delivering robust results for our stakeholders."
Pineapple Financial Inc.
Condensed Interim Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
For the three-month and nine-month periods ended May 31, 2024
(Expressed in US Dollars)
| | | | Three months ended | | Nine months ended | |
| | | | May 31, 2024 | | | May 31, 2023 | | May 31, 2024 | | May 31, 2023 | |
For the period ended | | | | (Unaudite d) | | | (Unaudite d) | | (Unaudite d) | | (Unaudite d) | |
Revenue | | Note 16 | | $ | 736,448 | | | 603,231 | | $ | 1,971,377 | | | 1,937,923 | |
| | | | | | | | | | | | | | | |
Expenses | | | | | | | | | | | | | | | |
Selling, general and administrative | | Note 11 | | | 491,666 | | | 698,568 | | | 1,545,900 | | | 1,617,231 | |
Advertising and Marketing | | | | | 265,395 | | | 169,655 | | | 648,197 | | | 824,395 | |
Salaries, wages and benefits | | | | | 593,202 | | | 552,819 | | | 1,825,786 | | | 1,827,369 | |
Interest expense and bank charges | | | | | 40,373 | | | 18,689 | | | 42,825 | | | 58,079 | |
Depreciation | | Note 5,6,10 | | | 220,190 | | | 91,554 | | | 535,575 | | | 302,529 | |
Share-based compensation | | Note 9 | | | - | | | (67) | | | - | | | 32,974 | |
Government Incentive | | Note 13 | | | 21,770 | | | (119,753) | | | (176,326) | | | (512,673) | |
Total expenses | | | | $ | 1,632,596 | | | 1,411,465 | | $ | 4,421,957 | | | 4,149,904 | |
| | | | | | | | | | | | | | | |
Loss from operations | | | | | (896,148) | | | (808,234) | | | (2,450,580) | | | (2,211,981) | |
Foreign exchange gain (loss) | | | | | - | | | - | | | 10,751 | | | - | |
Gain (loss) on change in fair value of warrant liability | | Note 8 | | | 29,479 | | | - | | | 42,251 | | | - | |
Gain (loss) on change in fair value of conversion feature liability | | Note 18 | | | 18,064 | | | - | | | 18,134 | | | - | |
Loss before income taxes | | | | $ | (848,605) | | | (808,234) | | $ | (2,379,444) | | | (2,211,981) | |
| | | | | | | | | | | | | | | |
Net loss | | | | $ | (848,605) | | | (808,234) | | $ | (2,379,444) | | | (2,211,981) | |
Foreign currency translation adjustment | | | | | (41,676) | | | (3,658) | | | (62,666) | | | (131,420) | |
| | | | | | | | | | | | | | | |
Net loss and comprehensive loss | | | | $ | (890,281) | | | (811,892) | | $ | (2,442,110) | | | (2,343,401) | |
| | | | | | | | | | | | | | | |
Loss per share - basic and diluted ($) | | | | | (0.12) | | | (0.13) | | | (0.37) | | | (0.35) | |
| | | | | | | | | | | | | | | |
Weighted average number of common shares outstanding - basic and diluted | | | | | 7,181,978 | | | 6,306,979 | | | 7,181,978 | | | 6,306,979 | |
About Pineapple Financial Inc.
Pineapple Financial Inc. is an award-winning fintech and leading Canadian mortgage brokerage network, focusing on both the long-term success of agents and brokerages, as well as the overall experience of homeowners. With approximately 700 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.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company's proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and 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 financial needs, including the expectation that the Offering will be successfully completed. 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 you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and 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.
Follow us on social media:
Instagram: @pineapplemortgage @empoweredbypineapple
Facebook: Pineapple Mortgage
LinkedIn: Pineapple Mortgage
Related Links:
Media Contact:
For media inquiries, please contact Alexandria Guo, Marketing Manager at Pineapple
Email: alexandria@gopineapple.com
Investor Relations Contact:
For investor relations inquiries, please contact Shubha Dasgupta, Chief Executive Officer, at Pineapple
Email: shubha@gopineapple.com
Phone: +1 (416) 669-2046
トロント、オンタリオ-(Newsfile Corp. -2024年7月15日)-Pineapple Financial Inc. (NYSE American: PAPL)は、カナダ全土にわたるパートナーブローカージュワリーとエージェントの統合ネットワークを持つ主要なテックに焦点を当てた住宅ローン会社であり、2024年5月31日に終了した第3四半期において、売上高736,448ドルを達成し、2023年5月31日に終了した当社の第3四半期の603,231ドルの売上高に比べて20.43%増加したことを発表しました。
パイナップルは、2024年第3四半期の住宅ローンに対して3,776.4万ドルを生み出し、2023年第3四半期の3,077.3万ドルに比べて、6,991万ドル、または22.72%増加しました。
2024年5月31日に終了した3か月間の販売、一般管理費用は491,666ドルで、前年のIPOの準備に伴う費用がなかったため、2023年の対応期間に比べて29.62%減少しました。会社は、2024年第3四半期に848,605ドルの純損失、または1株あたり0.12ドルの純損失を計上し、2023年第3四半期に808,234ドルの純損失、または1株あたり0.13ドルの純損失に対して4.99%増加しました。
2024年5月31日に終了した第1四半期から第9四半期までの売上高は、2023年の第1四半期から第9四半期までの売上高1,937,923ドルに比べ、1.73%改善し、1,971,377ドルとなりました。
パイナップルは、2024年の最初の9か月間の住宅ローンに108,377.1万ドルを生み出し、2023年の対応期間の96,653.1万ドルに比べて、11,724万ドル、または12.13%増加しました。
2024年最初の9か月間の販売、一般管理費用は1,545,900ドルで、2023年の最初の9か月間の費用1,617,231ドルに比べて4.41%減少しました。パイナップルは2024年第1四半期から第9四半期にかけて、株主に対して純損失2,379,444ドル、または1株当たり0.37ドルを計上し、FY2023の同じ期間における純損失2,211,981ドル、または1株当たり0.35ドルに比べ増加しました。
同社の現金残高は、2024年5月31日に1,052,207ドルとなり、2023年8月31日の1,697,503ドルの現金残高に比べて、645,296ドル減少しました。
加重平均普通株式の発行済み株式は、2024年5月31日に7,181,978株、2023年5月31日に6,306,979株でした。
同社の共同創設者兼最高経営責任者であるShubha Dasguptaは「2024年第3四半期の当社の財務結果に非常に満足しています。今四半期は、マクロ経済とビジネスの両面から正の動きが見られました。全国の不動産市場は課題に直面していますが、ポジティブな兆候が現れ始めています。カナダ銀行は利子率を引き下げ始め、固定住宅ローン金利は下落し、市場に供給が増えていることが確認されています。さらに、初めての住宅購入者向けの30年償還期限の導入などの政策変更は、若いカナダ人が住宅市場に参入するのを助けるための焦点であることを示しています。」と述べました。
事業面では、私たちは全国の何百ものブローカーのためのビジネスおよびプラットフォームとしての強靭性と効果性の証明として、困難な市場でも成長を続けています。私たちは、収益を増やし、コストを削減するために多様な新しいテクノロジー製品を立ち上げ、多数のカンファレンスに参加し、新しい市場に進出し、今四半期も新しいオフィスを追加しています。」
共同創設者兼最高経営責任者のShubha Dasguptaは「今四半期に私たちが達成した重要な進歩に非常に満足しています。私たちが立ち上げた新しい技術製品は、収益の増加とコストの削減の両方を駆動しており、私たちの革新性と効率性への取り組みを示しています。私たちが多数のカンファレンスに参加し、新しい市場への展開を継続していることは、成長に対する私たちの執念の証しです。カナダの不動産市場が回復の兆しを見せる中、私たちはこれらの好条件に乗じて、株主に堅牢な結果を提供し続ける準備ができています。」と述べました。
Pineapple Financial Inc.
簡略化された中間連結損益計算書および包括的損益計算書(未確認)
2024年5月31日に終了した3か月間および9か月間
(アメリカドルで表記)
| | | | 2024年2月29日までの3ヶ月間 | | 終了した9ヶ月間 | |
| | | | 5月31日 2024 | | | 2023年5月31日 | | 5月31日 2024 | | 5月31日 2023 | |
期間終了時点で | | | | (未確認) d) | | | (未確認) d) | | (未確認) d) | | (未確認) d) | |
売上高 | | 注16 | | $ | 736,448 | | | 603,231 | | $ | 1,971,377 | | | 1,937,923 | |
| | | | | | | | | | | | | | | |
費用 | | | | | | | | | | | | | | | |
販売・一般管理費用 | | 注釈11 | | | 491,666 | | | 698,568 | | | 1,545,900 | | | 1,617,231 | |
広告とマーケティング | | | | | 265,395 | | | 169,655 | | | 648,197 | | | 824,395 | |
地域別の費用: | | | | | 593,202 | | | 552,819 | | | 1,825,786 | | | 1,827,369 | |
利息費用および銀行手数料 | | | | | アメリカ合衆国政府機関債券 | | | 18,689 | | | 42,825 | | | 58,079 | |
減価償却費用 | | 注5,6,10 | | | 220,190 | | | 91,554 | | | 535,575 | | | 302,529 | |
株式報酬費用 | | 注釈9 | | | - | | | (67) | | | - | | | 32,974 | |
政府による補助金 | | ノート13 | | | 21,770 | | | (119,753) | | | (176,326) | | | (512,673) | |
総費用 | | | | $ | 1,632,596 | | | 1,411,465 | | $ | 4,421,957 | | | 4,149,904 | |
| | | | | | | | | | | | | | | |
営業損失 | | | | | (896,148) | | | (808,234) | | | (2,450,580) | | | (2,211,981) | |
外国為替の利益(損失) | | | | | - | | | - | | | 10,751 | | | - | |
譲渡可能証券負債の公正価値変動による利益(損失) | | 注釈8 | | | 29,479 | | | - | | | 42,251 | | | - | |
転換特権債務の公正価値変動による利益(損失) | | ノート18 | | | 18,064 | | | - | | | 18,134 | | | - | |
所得税前損失 | | | | $ | (848,605) | | | (808,234) | | $ | (2,379,444) | | | (2,211,981) | |
| | | | | | | | | | | | | | | |
純損失 | | | | $ | (848,605) | | | (808,234) | | $ | (2,379,444) | | | (2,211,981) | |
為替差損益 | | | | | (41,676) | | | (3,658) | | | (62,666) | | | (131,420) | |
| | | | | | | | | | | | | | | |
当期純損失・包括損失 | | | | $ | (890,281) | | | (811,892) | | $ | (2,442,110) | | | (2,343,401) | |
| | | | | | | | | | | | | | | |
一株当たりの損失 - 希薄化前および希薄化後 ($) | | | | | (0.12) | | | (0.13) | | | (0.37) | | | (0.35) | |
| | | | | | | | | | | | | | | |
期間加重平均発行済普通株式数- 希薄化前および希薄化後 | | | | | 7,181,978 | | | 6,306,979 | | | 7,181,978 | | | 6,306,979 | |
パイナップル・ファイナンシャル・インクについて
Pineapple Financial Inc.は受賞歴のあるフィンテック会社であり、主要なカナダの住宅仲介ネットワークで、エージェントや仲介業者の長期的な成功と、家を持つ人々が全体的な体験をしていることに注力しています。ネットワーク内には約700人の仲介業者がおり、ピンアップルはクラウドベースの最新のツールとAI駆動のシステムを創造して、仲介業者がカナダ人の家を持つ夢を実現させるのを助けています。またピンアップルはコミュニティでも活躍し、カナダ全土の慈善事業のスポンサーとして、仲間のカナダ人の生活を改善するのに誇りを感じています。
出典:Nutex Health, Inc。
本報告書の一部には将来に関連する記述が含まれており、それらには、しかし、限定されることなく、当社の提案された公開販売に関するものが含まれます。これらの将来に関連する記述は、当社がこれらの将来に関連する出来事について現在認識しているリスクと不確実性に基づいており、当社が見ている将来の経済的状況、業績、事業戦略、財務ニーズ、または公開販売が成功裏に完了されることを期待する見通しを含みます。投資家は、たとえば「可能性がある」「継続する」「特定の目標を持つ」「予想する」「狙いを定める」「評価する」「意図する」「計画する」「信じる」「〜する傾向がある」「潜在的」「その他類似の表現形式」などの言葉やフレーズで、これらの将来に関連する記述を識別できます。
ソーシャルメディアで私たちをフォローしてください:
Instagram: @pineapplemortgage @empoweredbypineapple
Facebook: Pineapple Mortgage
LinkedIn: Pineapple Mortgage
関連リンク:
メディア連絡先:
メディアに関するお問い合わせは、PineappleのマーケティングマネージャーであるAlexandria Guoまでご連絡ください。
メールアドレス:alexandria@gopineapple.com
投資家関係連絡先:
投資家関係に関するお問い合わせは、Pineappleの最高経営責任者であるShubha Dasguptaまでご連絡ください。
メールアドレス:shubha@gopineapple.com
電話番号:+1(416)669-2046