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Pineapple Financial (PAPL) Q2 2025 earnings results (second quarter 2025)

10-Q filed Jul 14, 2025

Pineapple Financial (PAPL) reported revenue of $747K for the second quarter 2025 (Q2 2025), +1% from a year earlier and +0.5% from the quarter before. Operating margin was -93.3%, net loss $558K (74.7% of revenue).

Revenue$747K
Year over year+1%
Quarter over quarter+0.5%
Operating margin-93.3%
Net earnings−$558K

Pineapple Financial, Q2 2025: revenue $747K (+1% year over year), operating margin -93.3%, net loss $558K, operating cash flow $397K. The chart follows the revenue to costs, profit and cash.

Q2 2025AmountQ/QY/Y
Revenue$747K+0.5%+1%
Operating profit−$697K——
Net earnings−$558K——
Operating cash flow$397K—+223%

What changed

Revenue was $747K in Q2 2025, up 1% year over year and roughly flat from the previous quarter.

Operating costs exceeded revenue by $697K, an operating margin of -93.3%. Total costs fell 12% while revenue rose 1%. The quarter ended with a net loss of $558K, narrower than the previous quarter's $595K loss. Non-operating items added $139K, -25% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was $397K (up 223% year over year). Non-cash charges added back $380K of depreciation and amortization. Working capital and other items added $575K.

Questions

What was Pineapple Financial's revenue in the second quarter 2025?

Pineapple Financial (PAPL) reported revenue of $747K for the second quarter 2025 (Q2 2025), +1% from a year earlier and +0.5% from the quarter before.

Was Pineapple Financial profitable in the second quarter 2025?

Operating loss was $697K (-93.3% of revenue) and net loss $558K.

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Source: Pineapple Financial 10-Q on SEC EDGAR.