Pineapple Financial (PAPL) Registration filing summary

Company overview and business model

• Operates as a Canadian mortgage technology and brokerage firm, providing services and proprietary tech to mortgage agents, brokers, and consumers in multiple provinces.

• Offers data-driven, cloud-based tools and back office services, including pre-underwriting support and white-label solutions for affiliate brokers.

• Proprietary MyPineapple platform integrates with Salesforce and other systems, automating workflows, lead generation, analytics, and education for users.

• Focuses on both residential and commercial mortgage opportunities, leveraging technology for efficiency and scalability.

• Competitive advantages include advanced analytics, customer profiling, internal processing, and exclusive access to private lending.

Financial performance and metrics

• Reported net revenues of $2,502,264 and a net loss of $2,809,037 for the year ended August 31, 2023.

• For the nine months ended May 31, 2024, net revenues were $1,971,377 with a net loss of $2,379,444.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used for general corporate purposes, including R&D, administrative, sales and marketing expenses, capital expenditures, potential acquisitions, and working capital.

• Pending use, proceeds may be invested in short- and intermediate-term interest-bearing obligations or government securities.