Pineapple Financial Inc. (PAPL) Form 10-Q — Jul 20, 2026
Pineapple Financial reported a net income of $25.3 million for the three months ended May 31, 2026, a dramatic reversal from a net loss in the prior year, driven almost entirely by non-cash fair value gains on its digital asset holdings. The company's core Mortgage Operations revenue declined to $622,502 for the quarter amid challenging market conditions, highlighting the volatility introduced by its new Digital Asset Treasury strategy. The company disclosed substantial doubt about its ability to continue as a going concern within the next year, citing an accumulated deficit of $14.7 million, history of operating losses, and negative operating cash flows.
Key figures
- Revenue
- 2,052,335
- Net Income
- (1,346,969)
- Total Debt
- 21,442,877
- Cash Position
- 5,089,707
- Shares Outstanding
- 25,534,070
- Digital Assets
- 49,400,549
- Restricted Cash
- 5,424,320
- Net Income Quarter
- 25,250,083
- Accumulated Deficit
- 14,743,408
Price after filing
Close on the filing date to close N calendar days later (from $0.94). Historical, not a forecast.
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