Pineapple Financial Reports Fiscal Q1 2026 Financial Results and Introduces FY 2026 Outlook and DAT Update

Reports Q1 2026 Gross Billings of $4.1 Million and Revenue of $0.7 million

Pineapple anticipates FY 2026 Gross Billings of $17.5-20.8 million and Revenue of $7.7-9.5 million

Digital Asset Treasury ("DAT") valued at ~$51.2 million, comprised of ~6.6 million INJ tokens and ~$16.4M USD / stablecoins

Toronto, Ontario--(Newsfile Corp. - January 20, 2026) - Pineapple Financial Inc. (NYSE American: PAPL) ("Pineapple" or the "Company"), a leading fintech platform, today announced audited financial results for the three month period ended November 30, 2025 ("Q1 2026").

"Pineapple has reached a meaningful inflection point as we transition from building infrastructure to executing against a fully integrated operating model," said Shubha Dasgupta, CEO of Pineapple Financial. "With a national mortgage platform generating approximately $3 billion in annual originations, our focus is now squarely on operating discipline, earnings quality, and capital efficiency, with clear line-of-sight into unit economics and margin expansion within the core mortgage platform."

Mr. Dasgupta continued, "By strengthening our mortgage platform, tokenizing our data for future monetization, and deploying capital through a disciplined, governance-led DAT, we are building a durable and capital-efficient business. These initiatives are designed to work together as a single operating platform, generating higher-quality margins, recurring revenue streams, and improved earnings durability. We are confident that this positions Pineapple to reduce volatility, strengthen resilience, and deliver long-term value for shareholders in 2026 and beyond."

Strategic and Corporate Developments

Following the completion of Pineapple's previously announced private placement to establish its INJ DAT, the Company has successfully transitioned from an infrastructure build-out phase to an execution-focused operating phase with defined performance targets across productivity, margin quality, and cash efficiency. After a decade of building a national Canadian mortgage origination platform with coast-to-coast licensing, over 500 brokers, and approximately $3 billion CAD in annual originations, the Company has shifted its focus toward operating discipline, earnings quality, and capital efficiency. This transition reflects improved visibility across the business and a renewed emphasis on delivering sustainable performance as Pineapple enters its next phase of growth.