Pineapple Financials

PNPL

Source SEC Filings (10-K/10-Q) Data as of Sep 30, 2023 Currency USD FYE December

This page shows Pineapple (PNPL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI PNPL FY2022 2026-04-22

Balance-sheet shrinkage, not operating scale, defines Pineapple, with liquidity erosion leaving the business structurally dependent on outside funding.

Between FY2021 and FY2022, total assets fell from $9.4M to $29.7K. Liabilities still stood at $1.4M, so equity flipped from a positive cushion to a deficit and the balance sheet lost much of its ability to absorb setbacks.

The cash conversion pattern in FY2021 was less severe than the income statement suggests: net loss was $1.1M, but operating cash outflow was only $53K. That gap means reported losses were driven more by non-cash charges or working-capital movements than by immediate cash spending in that year.

The company's short-term liquidity was already extremely thin before FY2022, with the current ratio slipping from 0.03x to 0.02x. Across FY2020 and FY2021, financing inflows mirrored operating cash burn at about $544K and $53K, suggesting outside capital was mainly filling operating holes rather than funding expansion.

Financial Health Signals

Financial health score pending refresh

We are recalculating Pineapple's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

N/A

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

Pineapple held $0 in cash against $0 in long-term debt as of fiscal year 2022.

Dividends Per Share

N/A

Shares Outstanding

71M

YoY-20.5%

5Y CAGR+2.1%

Pineapple had 71M shares outstanding in fiscal year 2022. This represents a decrease of 20.5% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

PNPL Income Statement

Metric	FY22	FY21	FY20	FY19	FY18	FY17
Revenue	N/A	N/A	N/A	$15K+50.0%	$10K-98.2%	$550K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$23K+13.8%	$21K-96.9%	$662K-59.2%	$1.6M+64.8%	$985K-36.8%	$1.6M
Operating Income	N/A	-$976K-46.1%	-$668K+58.6%	-$1.6M-64.3%	-$983K+3.2%	-$1.0M
Interest Expense	N/A	N/A	$54K+206.0%	$18K-86.4%	$129K-53.4%	$277K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	-$1.1M+3.8%	-$1.1M+1.7%	-$1.2M+14.4%	-$1.4M-24.1%	-$1.1M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21
Revenue	$90	N/A	N/A	N/A	$331-48.3%	$640	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	$268-20.2%	$336	N/A	N/A
Gross Profit	-$370K-32.0%	-$280K	N/A	N/A	$63-79.3%	$304	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$29K-48.7%	$56K+9622.1%	$578	N/A	N/A	$70K+2.7%	$68K	N/A
Operating Income	-$517K-25.3%	-$412K-510.6%	-$68K	N/A	N/A	-$130K-1.2%	-$129K	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$517K-17.5%	-$440K-551.0%	-$68K	N/A	N/A	$137K-63.6%	$375K	N/A
EPS (Diluted)	$-0.010.0%	$-0.01	N/A	N/A	$-0.110.0%	$-0.11	N/A	N/A

PNPL Balance Sheet

Metric	FY22	FY21	FY20	FY19	FY18	FY17
Total Assets	$30K-99.7%	$9.4M-1.1%	$9.5M-20.9%	$12.0M+1051.0%	$1.0M+35.6%	$769K
Current Assets	$27K-72.7%	$100K	N/A	$1.0M-0.5%	$1.0M+4432.1%	$22K
Cash & Equivalents	$0	$0	N/A	N/A	N/A	$22K
Inventory	$27K	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	$5K	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.4M-53.9%	$3.1M+10.5%	$2.8M-75.4%	$11.3M+111.4%	$5.3M+20.5%	$4.4M
Current Liabilities	$1.4M-53.9%	$3.1M+10.5%	$2.8M-75.4%	$11.3M+111.4%	$5.3M+20.5%	$4.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$1.4M-121.9%	$6.3M-6.1%	$6.7M+833.4%	$721K+116.8%	-$4.3M-17.4%	-$3.7M
Retained Earnings	-$23.5M-50.2%	-$15.7M-7.6%	-$14.6M-8.6%	-$13.4M-9.5%	-$12.3M-12.5%	-$10.9M

Metric	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21
Total Assets	$8.1M+23.5%	$6.6M+875.4%	$673K+2166.6%	$30K+575.6%	$4K-100.0%	$10.0M+0.4%	$10.0M+6.4%	$9.4M
Current Assets	$5K-91.3%	$54K+6.7%	$51K+85.1%	$27K	N/A	N/A	$21-100.0%	$100K
Cash & Equivalents	N/A	$2K	N/A	$0	N/A	N/A	$21	$0
Inventory	$5K	N/A	N/A	$27K	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$10.4M+24.6%	$8.4M+295.8%	$2.1M+49.5%	$1.4M-48.5%	$2.7M-9.7%	$3.0M-4.6%	$3.2M+4.0%	$3.1M
Current Liabilities	$3.9M+29.4%	$3.0M+85.5%	$1.6M+15.6%	$1.4M-49.1%	$2.8M-8.6%	$3.0M-4.6%	$3.2M+4.0%	$3.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$2.3M-28.6%	-$1.8M-24.4%	-$1.5M-4.9%	-$1.4M+49.5%	-$2.7M-139.3%	$7.0M+2.7%	$6.8M+7.5%	$6.3M
Retained Earnings	-$24.6M-2.1%	-$24.0M-1.9%	-$23.6M-0.2%	-$23.5M+5.6%	-$24.9M-64.4%	-$15.2M+0.9%	-$15.3M+2.4%	-$15.7M

PNPL Cash Flow Statement

Metric	FY22	FY21	FY20	FY19	FY18	FY17
Operating Cash Flow	N/A	-$53K+90.2%	-$544K-53.6%	-$354K-32.1%	-$268K-124.9%	-$119K
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	$57K
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	-$176K
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	$93K
Financing Cash Flow	N/A	$53K-90.2%	$544K+53.6%	$354K+44.0%	$246K+536.0%	$39K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21
Operating Cash Flow	$121K	N/A	N/A	-$103K-5974.7%	-$2K+98.3%	-$99K-2618.8%	-$4K-144.0%	$8K
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	-$95K	N/A
Financing Cash Flow	-$123K	N/A	N/A	$103K+5974.7%	$2K-53.4%	$4K-96.3%	$99K+1295.8%	-$8K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

PNPL Financial Ratios

Metric	FY22	FY21	FY20	FY19	FY18	FY17
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	-10774.5%-940.4pp	-9834.0%-9649.2pp	-184.8%
Net Margin	N/A	N/A	N/A	-7789.7%+5861.7pp	-13651.4%-13451.4pp	-200.0%
Return on Equity	N/A	-17.5%-0.4pp	-17.1%+145.0pp	-162.1%	N/A	N/A
Return on Assets	N/A	-11.8%+0.3pp	-12.1%-2.4pp	-9.7%+121.1pp	-130.8%+12.2pp	-143.0%
Current Ratio	0.02-0.0	0.03	N/A	0.09-0.1	0.19+0.2	0.01
Debt-to-Equity	N/A	0.49+0.1	0.41-15.2	15.66	N/A	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	-31.9%

Metric	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21
Gross Margin	-411006.7%	N/A	N/A	N/A	19.0%-28.5pp	47.5%	N/A	N/A
Operating Margin	-573900.0%	N/A	N/A	N/A	N/A	-20386.3%	N/A	N/A
Net Margin	-573900.0%	N/A	N/A	N/A	N/A	21368.1%	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	2.0%-3.6pp	5.5%	N/A
Return on Assets	-6.4%+0.3pp	-6.7%+3.3pp	-10.0%	N/A	N/A	1.4%-2.4pp	3.8%	N/A
Current Ratio	0.00-0.0	0.02-0.0	0.03+0.0	0.02	N/A	N/A	0.00-0.0	0.03
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	0.44-0.0	0.47-0.0	0.49
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$1.4M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.02), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What are Pineapple's total assets?

Pineapple (PNPL) had $30K in total assets as of fiscal year 2022, including both current and long-term assets.

How many shares does Pineapple have outstanding?

Pineapple (PNPL) had 71M shares outstanding as of fiscal year 2022.

What is Pineapple's current ratio?

Pineapple (PNPL) had a current ratio of 0.02 as of fiscal year 2022, which is below 1.0, which may suggest potential liquidity concerns.

Why is Pineapple's debt-to-equity ratio negative or not reported?

Pineapple (PNPL) has negative shareholder equity of -$1.4M as of fiscal year 2022, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.