Pineapple Express Cannabis Company (PNXP) Q3 2025 earnings summary

Executive summary

• Pineapple Express Cannabis Company operates as an incubator for cannabis startups and holds a 50% stake in Pineapple Consolidated Inc. (PCI), which manages multiple retail cannabis ventures in California.

• The company is expanding its retail footprint through management contracts and equity interests in eight dispensaries, with revenue-sharing agreements in place.

• Recent corporate restructuring included a share exchange and leadership changes, resulting in PCI Stockholders owning 50% of the company.

Financial highlights

• For the three months ended October 31, 2024, revenue was $4,332, up from $0 in the same period last year, primarily from management fee revenue.

• Net loss for the quarter was $1,248, an improvement from a net loss of $2,115 in the prior year quarter.

• For the nine months ended October 31, 2024, net loss was $572, compared to net income of $934,669 in the prior year, which included significant income from equity-method investment.

• Cash at period end was $1,043, with an accumulated deficit of $919,554.

Outlook and guidance

• Management anticipates continued operating losses and dependence on additional investment capital to fund operations in the near future.

• The company plans to seek further financing through equity offerings or debt to support expansion and working capital needs.