PAPL

Company Overview — What Does Pineapple Financial Inc. Do?

Pineapple Financial Inc. is a Canadian-based mortgage technology and brokerage company that provides mortgage brokerage services and technology solutions to Canadian mortgage agents, brokers, sub-brokers, brokerages and consumers. Through data-driven systems together with cloud based tools, we believe we offer competitive advantages in the Canadian mortgage industry relative to alternative mortgage broker arrangements. We also provide back office services, together with pre-underwriting support services (collectively, “Brokerage Services”) to Canadian mortgage brokerages (the “Brokerages”). In connection with Brokerage Services, we employ and engage several licensed mortgage brokers and agents (collectively, “Field Agents”). In addition, we enter into affiliation agreements with certain licensed mortgage brokers (collectively, “Affiliate Brokers” and, together with Field Agents and Brokerages, the “Users”), pursuant to which the Company and the Affiliate Broker enter into an affiliation relationship with the intention of jointly marketing mortgage brokerage and other financial services as affiliated entities. This is sometimes referred to as “white labeling”, which allows the Affiliate Broker to sell a mortgage that is branded with its company name to its own client base. We currently operate exclusively in Canada, specifically the provinces of Alberta, Manitoba, Newfoundland and Labrador, We have been approved by each of the applicable provincial mortgage regulators to operate in 11 provinces and territories namely Alberta, British Columbia, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Prince Edward Island, Quebec, and Yukon, and 2 provinces to follow are Manitoba and Saskatchewan. We launched our first brokerage office in Alberta on July 1, 2021. We also launched our first brokerage office in Newfoundland and Labrador, Nova Scotia and Prince Edward Island on May 4, 2022. We opened our first British Columbia brokerage office in November 2022 and expect to open our first Quebec brokerage office in early to mid-2023. We provide our Brokerage Services for both residential and commercial mortgage opportunities and, in each case, through a proprietary technology called MyPineapple, as discussed in further detail below. --- MyPineapple At the heart of our Brokerage Services is an innovative technology system that provides real time data management and reporting, lead generation, customer relationship management and direct underwriting support, all in one. MyPineapple offers network management capabilities for Users, including hundreds of qualified Field Agents, to create an efficient marketplace for the provision of mortgage lending and insurance industry services. MyPineapple integrates directly with Salesforce, Equifax, OneSpan, G Suite and Filogix and manages the User’s day-to-day business through automated triggers and tasks, ensuring nothing falls through the cracks. Backed by Salesforce.com, Inc. (“Salesforce”), pursuant to the Salesforce Agreement (defined herein), and built with proprietary code and deep data analytics, MyPineapple syncs up with Users’ calendars and emails, produces robust reporting, advanced analytics, and real-time notifications on marketing communications, and more. MyPineapple is a sophisticated and fundamental tool for revenue growth and relationship development. It plays a significant role in what we believe makes our Brokerage Services distinct and cutting-edge. MyPineapple was created to address key issues within the mortgage brokerage industry. We built MyPineapple to create a long-term competitive advantage relative to traditional service providers, who have comparatively high-touch, labor intensive and costly operations. Our MyPineapple platform is completely automated, simplifying the mortgage process while providing efficiencies to alleviate pressure on the User’s staffing in completing traditional administrative tasks, which in turn reduces the User’s cost structure and results in increased profit margins and scalability. MyPineapple reduces manual processes through robust quality control mechanisms, logistics management capabilities, capacity planning tools and end-to-end transaction management. MyPineapple also includes a leading education technology platform which enables Users to continuously stay informed and educated on what mortgage solutions and market conditions could impact Canadian consumers. We are a Canadian company, incorporated under the law of the Province of Ontario, and our principal executive offices are located at Unit 200, 111 Gordon Baker Road, North York, Ontario M2H 3R1. Our registered and records office is located at 67 Mowat Avenue, Suite 122, Toronto, Ontario. Pineapple Financial Inc. (PAPL) is classified as a micro-cap stock in the Financials sector, specifically within the Banking industry. The company is led by CEO Shubha Dasgupta. With a market capitalization of $17M, PAPL is one of the notable companies in the Financials sector.

Pineapple Financial Inc. (PAPL) Stock Rating — Avoid (April 2026)

As of April 2026, Pineapple Financial Inc. receives a Avoid rating with a composite score of 24.8/100 and 1 out of 5 stars from the Blank Capital Research quantitative model.PAPL ranks #4,106 out of 4,446 stocks in our coverage universe. Within the Financials sector, Pineapple Financial Inc. ranks #863 of 891 stocks, placing it in the lower half of its Financials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

PAPL Stock Price and 52-Week Range

Pineapple Financial Inc. (PAPL) currently trades at $0.61. The stock gained $0.03 (4.3%) in the most recent trading session. The 52-week high for PAPL is $9.53, which means the stock is currently trading -93.6% from its annual peak. The 52-week low is $0.07, putting the stock 833.2% above its annual trough. Recent trading volume was 49K shares, suggesting relatively thin trading activity.

Is PAPL Overvalued or Undervalued? — Valuation Analysis

Pineapple Financial Inc. (PAPL) carries a value factor score of 15/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-sales ratio is 5.78x, compared to 0.90x for the average Financials stock.

At current multiples, Pineapple Financial Inc. trades at a premium to most Financials peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

Pineapple Financial Inc. Profitability — ROE, Margins, and Quality Score

Pineapple Financial Inc. (PAPL) earns a quality factor score of 18/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is 948.5%, compared to the Financials sector average of 8.5%, which demonstrates strong shareholder value creation. Return on assets (ROA) comes in at -77.6% versus the sector average of 1.2%.

On a margin basis, Pineapple Financial Inc. reports gross margins of 59.7%. The operating margin is -293.4% (sector: 21.8%). Net profit margin stands at -283.0%, versus 17.7% for the average Financials stock. Revenue growth is running at -2.0% on a trailing basis, compared to 9.4% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

PAPL Debt, Balance Sheet, and Financial Health

Pineapple Financial Inc. has a debt-to-equity ratio of -218.0%, compared to the Financials sector average of 121.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 0.12x, which may signal near-term liquidity tightness.

PAPL has a beta of 0.46, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for Pineapple Financial Inc. is 27/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

Pineapple Financial Inc. Revenue and Earnings History — Quarterly Trend

In TTM 2026, Pineapple Financial Inc. reported revenue of $3M and earnings per share (EPS) of $-4.79. Net income for the quarter was $-8M. Gross margin was 59.7%. Operating income came in at $-9M.

In Q1 2026, Pineapple Financial Inc. reported revenue of $721,727 and earnings per share (EPS) of $-4.79. Net income for the quarter was $-6M. Gross margin was 49.6%. Revenue grew -5.8% year-over-year compared to Q1 2025. Operating income came in at $-7M.

In FY 2025, Pineapple Financial Inc. reported revenue of $3M and earnings per share (EPS) of $-5.31. Net income for the quarter was $-4M. Gross margin was 46.3%. Revenue grew 11.1% year-over-year compared to FY 2024. Operating income came in at $-3M.

In Q3 2025, Pineapple Financial Inc. reported revenue of $746,903 and earnings per share (EPS) of $-0.05. Net income for the quarter was $-557,736. Gross margin was 100.0%. Revenue grew 1.4% year-over-year compared to Q3 2024. Operating income came in at $-696,531.

Over the past 8 quarters, Pineapple Financial Inc. has demonstrated a growth trajectory, with revenue expanding from $736,448 to $3M. Investors analyzing PAPL stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

PAPL Dividend Yield and Income Analysis

Pineapple Financial Inc. (PAPL) does not currently pay a dividend. This is common among smaller companies in the Banking industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Financials dividend stocks may want to explore other Financials stocks or use the stock screener to filter by dividend yield.

PAPL Momentum and Technical Analysis Profile

Pineapple Financial Inc. (PAPL) has a momentum factor score of 17/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 34/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 67/100 reflects moderate short selling activity.

PAPL vs Competitors — Financials Sector Ranking and Peer Comparison

Within the Financials sector, Pineapple Financial Inc. (PAPL) ranks #863 out of 891 stocks based on the Blank Capital composite score. This places PAPL in the lower half of all Financials stocks in our coverage universe. Key competitors and sector peers include WHITE MOUNTAINS INSURANCE GROUP LTD (WTM) with a score of 62.9/100, OPPENHEIMER HOLDINGS INC (OPY) with a score of 62.6/100, Enact Holdings, Inc. (ACT) with a score of 61.6/100, International General Insurance Holdings Ltd. (IGIC) with a score of 61.3/100, and PARKE BANCORP, INC. (PKBK) with a score of 60.4/100.

Comparing PAPL against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full PAPL vs S&P 500 (SPY) comparison to assess how Pineapple Financial Inc. stacks up against the broader market across all factor dimensions.

PAPL Next Earnings Date

No upcoming earnings date has been announced for Pineapple Financial Inc. (PAPL) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy PAPL? — Investment Thesis Summary

The quantitative profile for Pineapple Financial Inc. suggests caution. The quality score of 18/100 flags below-average profitability. The value score of 15/100 indicates premium valuation. Momentum is weak at 17/100, a headwind for near-term performance. High volatility (stability score 27/100) increases portfolio risk.

In summary, Pineapple Financial Inc. (PAPL) earns a Avoid rating with a composite score of 24.8/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on PAPL stock.

Related Resources for PAPL Investors

Explore more research and tools: PAPL vs S&P 500 comparison, top Financials stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare PAPL head-to-head with peers: PAPL vs WTM, PAPL vs OPY, PAPL vs ACT.