Pineapple Financial Inc. (PAPL)

NYSE: PAPL · Finance Services · filing with the SEC since 2022

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Grade3.8

◀ Past 3.2● Present 3.8▶ Future 4.8

2 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Pineapple Financial Inc.

Nine metrics read from its own filings, by tense

Headline grade

3.8/10

◀ Past3.240% of the headline

● Present3.835% of the headline

▶ Future4.825% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

3.2/1040% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

1.6/10

Has it survived what it has been through?

8 warning events since 2022; the latest 2026-07-15.

weight 45% of this tense · 17th percentile among 130 sector filers · read for itself

From the record

Pineapple Financial Inc.'s filings since 2022 show 8 warning events of 3 kinds: a notice about its exchange listing (8-K item 3.01, the latest 2025-05-19); an auditor change (8-K item 4.01, the latest 2026-06-03); a late-report notice (Form NT 10-K or NT 10-Q, 6 times, the latest 2026-07-15) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

3.7/10

What has it actually done, year after year?

-6% a year over 4 filed years; profitable in 0 of 4.

weight 22% of this tense · 37th percentile among 104 sector filers · read for its customers

From the record

Pineapple Financial Inc.'s 4 filed years say what it did: revenue went from $4 million in fiscal 2022 to $3 million in fiscal 2025, down 6% a year; it rose in 2 of 3 years; the deepest fall was 31% from fiscal 2022 to fiscal 2023; net income was positive in 0 of 4 of those years (its annual reports).

What it rests on

revenue growth over the filed span-6.0%bottom 24% of its family
the share of years revenue rosetop 45% of its family
the share of filed years with a profitbottom 13% of its family
the deepest fall from a revenue peak30.5%top 45% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate

4.9/10

How has it treated the people who own it?

SI estimate 4.9/10, confidence 35 of 100 (one part).

weight 33% of this tense · 49th percentile among 115 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, the share count over the years, which ranks in the bottom 49% of 115 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned: one part: the share count over the years, the one part on file, ranked among 115 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Pineapple Financial Inc.'s shareholder treatment is put at 4.9 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 49% of 115 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

3.8/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

3.5/10

Is it financially healthy right now?

ROE -401%: lost 401¢ per shareholder dollar. Leverage 83%: owes 83¢ per asset dollar.

weight 45% of this tense · 35th percentile among 117 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-08-31, Pineapple Financial Inc. lost about 401 cents for every dollar of shareholders' money, and gross profitability: its products earned about 26 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 83 cents per dollar of assets, and net share issuance: its share count grew 86.3% over the year (the filed statements).

What it rests on

what it owes per dollar of assetsbottom 21% of its family
return on equitybottom 4% of its family
gross profit against assetstop 16% of its family
the share count against the year beforebottom 33% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

3.0/10

How strong is its position in its industry?

bottom 30% of 114 in its family; net margin -121.8%.

weight 33% of this tense · 30th percentile among 114 sector filers · read for its customers

From the record

Pineapple Financial Inc.'s standing among 114 graded names in its industry family: revenue of $3 million in fiscal 2025 ranks in the bottom 18% by size; a net margin of -121.8% ranks in the bottom 40%; revenue growth of -6% a year over the last 3 filed years ranks in the bottom 31% (its annual reports).

What it rests on

revenue against the family$3.0Mbottom 18% of its family
net margin-121.8%bottom 40% of its family
three-year revenue growth-6.0%bottom 31% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

5.5/10

What are the people in charge doing?

SI estimate 5.5/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 74 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Fewer than two of the three parts can be read: officer and director changes against the people in charge, the years the people in charge have been filing, the chief executive's years under the title, so the desk assumes the typical reading of its industry family, the median of 74 members with one.
What the record cannot read: Fewer than two of the three parts can be read: officer and director changes against the people in charge, the years the people in charge have been filing, the chief executive's years under the title.
How it was reasoned: family median, 74 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Pineapple Financial Inc.'s leadership is put at 5.5 of 10 with a confidence of 20 of 100, because fewer than two of the three parts can be read: officer and director changes against the people in charge, the years the people in charge have been filing, the chief executive's years under the title, so the desk assumes the typical reading of its industry family, the median of 74 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

4.8/1025% of the headline grade · 3 of 3 filed

Room to expand

as filed

5.2/10

How much room does it have to grow?

top 48% of 108 in its family for room to expand.

weight 33% of this tense · 52nd percentile among 108 sector filers · read for itself

From the record

Pineapple Financial Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash from operations less capital spending is -31.7% of revenue (top 47%); a gross margin of 46.3% (top 49%) (its annual report).

What it rests on

cash from operations less capital spending against revenue-31.7%top 47% of its family
gross margin46.3%top 49% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

3.8/10

What could actually drive growth from here?

bottom 38% of 100 in its family for growth drivers.

weight 33% of this tense · 38th percentile among 100 sector filers · read for its customers

From the record

Pineapple Financial Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew -6% a year over the last three filed years against -6% over all 4, speeding up (top 42% of its family); the newest year grew 11.1% (top 47%); capital spending grew -85.8% a year (bottom 3%) (its annual reports). Pineapple Financial Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

three-year growth against the whole span+0.0 points a yeartop 42% of its family
the newest year's revenue growth11.1%top 47% of its family
three-year growth of capital spending-85.8%bottom 3% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

5.6/10

Did its newest year beat what its own record pointed to?

top 44% of 78 in its family for expectations against reality.

weight 33% of this tense · 56th percentile among 78 sector filers · read for its shareholders

From the record

Pineapple Financial Inc.'s newest year against its own record: revenue of $3 million in fiscal 2025 came in 28.5% above the $2 million its prior three years' pace pointed to (top 29% of its family); net income of $4 million against a prior three-year average of $3 million (top 50%); a net margin of a loss larger than its revenue against losses larger than its revenue before (bottom 47%) (its annual reports).

What it rests on

revenue against the prior three years' pace28.5%top 29% of its family
net income against the prior three years' average-12%top 50% of its family
net margin against its prior average-7.5 pointsbottom 47% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton PAPL · research, not advice