Pineapple Financial Inc. reported third-quarter results for the three months ended May 31, 2026, with revenue of $0.62M, net income of $25.25M and diluted EPS of $0.99. Revenue declined versus the year-ago quarter, while reported profit swung positive largely due to non‑cash digital asset fair value gains.
Financial Highlights
- Revenue was $0.62M for the three months ended May 31, 2026, down from $0.75M in the year-ago quarter (approximately (16.7%)).
- Net income was $25.25M for the three months ended May 31, 2026, versus a net loss of $0.56M in the year-ago quarter (driven by non‑cash digital asset fair value gains).
- Diluted EPS was $0.99 for the three months ended May 31, 2026, versus a loss per share of $0.93 in the year-ago quarter.
Business Highlights
- Digital Asset Treasury Launch: Implemented a digital asset treasury (DAT) strategy and held roughly $49.4M in digital assets, generating staking income as a diversified use of capital.
- Revenue Mix Shift: Core mortgage revenue declined modestly while subscription and ancillary fees grew, partially offsetting lower origination volume.
- Operational Efficiency: Completed cost optimization and headcount reductions to improve adjusted operating performance and operating leverage.
- Platform Enhancements: Upgraded Pineapple Plus with automation, CRM and insurance integrations to boost agent productivity and recurring revenue.
- Staking & Yield Activities: Began delegated staking and short-duration treasury placements to generate incremental yield separate from customer revenue.
Original SEC Filing:
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