Pineapple Financial Posts $25.9M Net Loss in H1 2026 as Expenses Surge
Pineapple Financial Inc., a financial services company, reported a net loss of $25.9 million for the six months ending February 28, 2026, compared to a $1.3 million loss in the same period last year. Revenue declined 5% to $1.43 million.
Pineapple Financial Inc., a financial services company, swung to a net loss of $25.9 million for the six months ending February 28, 2026, compared to a net loss of $1.3 million in the year-earlier period. The loss deepened despite the company raising $38.2 million in financing activities during the period. Read more earnings reports.
Revenue for the six-month period totaled $1.43 million, down 5% from $1.51 million in the prior-year period. For the three months ending February 28, 2026, revenue fell to $707,342 from $743,309 a year earlier.
Operating expenses ballooned to $25.8 million for the six-month period, up sharply from $2.8 million in the prior-year period. The company reported an operating loss of $24.4 million for the half, compared to a $1.3 million operating loss last year.
Cost of revenue for the six months declined to $711,116 from $835,134 in the comparable period. Selling, general, and administrative expenses totaled $1.05 million for the half, up from $995,190 in the prior year.
Balance Sheet Expansion
Total assets surged to $48.9 million as of February 28, 2026, up from $5.4 million at the end of fiscal 2025. Current assets jumped to $23.4 million from $2.3 million. The company held $23.4 million in current assets, substantially higher than the $2.3 million reported six months earlier.
Total liabilities increased to $21.8 million from $4.5 million as of August 31, 2025. Current liabilities stood at $20.3 million, up from $3.0 million at the prior period end.
Stockholders' equity expanded to $27.1 million from $906,679 at the end of fiscal 2025. Common stock value rose to $63.0 million from $11.6 million, while the retained deficit widened to $39.3 million from $13.4 million.
Cash Flow and Share Count
Cash used in operations totaled $3.8 million for the six months, compared to $836,228 in the year-earlier period. Cash used in investing activities reached $19.3 million, versus $539,410 last year. Cash from financing activities totaled $38.2 million, compared to $1.2 million in the prior-year period.
Shares outstanding increased to 26.1 million as of February 28, 2026, from 1.3 million at the end of fiscal 2025. Basic and diluted loss per share for the six months was $3.05, compared to $2.66 in the prior-year period, based on weighted average shares of 8.7 million and 438,025, respectively.
| Financial Metric | H1 FY2026 | H1 FY2025 |
|---|---|---|
| Revenue | $1.43M | $1.51M |
| Operating Loss | ($24.4M) | ($1.3M) |
| Net Loss | ($25.9M) | ($1.3M) |
| Loss Per Share (Basic) | ($3.05) | ($2.66) |
| Total Assets | $48.9M | $5.4M* |
| Cash from Financing | $38.2M | $1.2M |
*As of August 31, 2025