Toronto, Ontario--(Newsfile Corp. - July 17, 2025) - Pineapple Financial Inc. (NYSE American: PAPL), a leading Canadian mortgage technology and brokerage company, today announced that it has successfully completed a 1-for-20 reverse stock split and has been approved for relisting on the NYSE American. Trading under the ticker symbol PAPL will resume on July 22, 2025.
This marks a significant milestone in Pineapple's continued growth strategy and reflects the company's return to full exchange compliance, supported by ongoing operational strength and a positive market outlook for the Canadian mortgage sector.
"We've always believed in building a business with long-term purpose and value," said Shubha Dasgupta, CEO of Pineapple Financial. "This milestone is more than a re-listing, it's a reflection of the work we've done to strengthen our business, reinforce our fundamentals, and position Pineapple for sustainable growth. We're grateful to our shareholders and partners for their continued belief in our vision."
The stock split was implemented to regain compliance with the NYSE American's minimum price requirement and broaden institutional appeal. The company has taken a deliberate and strategic approach to this moment, balancing operational efficiency, product innovation, and market opportunity across the Canadian housing and financial services landscape.
Since its IPO, Pineapple has introduced major advancements including PineappleONE, its proprietary mortgage tech platform; a national insurance vertical launch; and robust data-driven tools to support Canada's wave of mortgage renewals and refinancing needs.
"This is a pivotal moment for Pineapple," added Shubha Dasgupta. "We've aligned our platform, people, and product strategy to the market's most pressing needs. As interest rates normalize and Canadians seek greater value and guidance in the housing market, Pineapple is prepared to lead with innovation and integrity."
Operational and Financial Update
Pineapple recently reported improved fiscal Q3 results, reflecting significant progress across its core business. Year-over-year volume grew by 13.3% and gross billings increased by 13.9%. The company also reduced staff-related expenses by 32.3%, implemented key operational efficiencies, and continued advancing PineappleONE, its end-to-end mortgage platform. These improvements have positioned the company to pursue sustained profitability while delivering increased value to shareholders.
About Pineapple
Pineapple is an award-winning fintech and leading Canadian mortgage brokerage network, focusing on both the long-term success of agents and brokers as well as the overall experience of homeowners. With hundreds of brokers within the network, Pineapple creates cutting-edge cloud-based tools and AI-driven systems to enable its brokers to help Canadians realize their dream of owning a home. Pineapple is active within the community and is proud to sponsor charities across Canada to improve the lives of fellow Canadians.
Follow us on social media:
Instagram: @pineapplemortgage @empoweredbypineapple
Facebook: Pineapple Mortgage
LinkedIn: Pineapple Mortgage
Safe Harbor Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. They are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and economic needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the registration statement filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results. It encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.
Media Contact:
For media inquiries, please contact Shubha Dasgupta, Chief Executive Officer, at Pineapple.
Email: shubha@gopineapple.com
Related Links:
https://gopineapple.com
http://empoweredbypineapple.com
Investor Relations Contact:
For investor relations inquiries, please contact Pineapple Financial Inc.
ir@gopineapple.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259098
SOURCE: Pineapple Financial Inc.
