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Pineapple Financial (PAPL) Q3 2024 earnings results (third quarter 2024)
10-K filed Dec 20, 2024
Pineapple Financial (PAPL) reported revenue of $718K for the third quarter 2024 (Q3 2024), +27% from a year earlier and -3% from the quarter before. Operating margin was -191.5%, net loss $1.7M (240.1% of revenue).
Pineapple Financial, Q3 2024: revenue $718K (+27% year over year), operating margin -191.5%, net loss $1.7M, operating cash flow −$265K. The chart follows the revenue to costs, profit and cash.
| Q3 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $718K | -3% | +27% |
| Operating profit | −$1.4M | — | — |
| Net earnings | −$1.7M | — | — |
| Operating cash flow | −$265K | — | — |
What changed
Revenue was $718K in Q3 2024, up 27% year over year and down 3% from the previous quarter.
Operating costs exceeded revenue by $1.4M, an operating margin of -191.5%. Total costs grew 84% against revenue growth of 27%. The fastest-growing cost line was Other operating costs (+262%). The quarter ended with a net loss of $1.7M, wider than the previous quarter's $849K loss.
Operating cash flow was −$265K. Non-cash charges added back $550K of depreciation and amortization. Working capital and other items added $909K. Capital expenditures of $0K exceeded it, leaving free cash flow of −$265K.
Questions
What was Pineapple Financial's revenue in the third quarter 2024?
Pineapple Financial (PAPL) reported revenue of $718K for the third quarter 2024 (Q3 2024), +27% from a year earlier and -3% from the quarter before.
Was Pineapple Financial profitable in the third quarter 2024?
Operating loss was $1.4M (-191.5% of revenue) and net loss $1.7M.