Pineapple Financial Inc. Stock Price, News & Analysis

Pineapple Financial Inc. (NYSE American: PAPL) announces the addition of two new affiliate brokerages, Luxe Lending Corp. and Mortgage Magic, expanding its Canadian presence. The company reports that affiliate brokers generated 36.8% of total funded volume and revenue in 2023. With 25 independently licensed firms utilizing Pineapple's white-label solutions, the company achieved record agent growth in October with an 82% year-over-year increase. This growth is supported by improving consumer sentiment and favorable interest rate adjustments. The expansion strengthens Pineapple's position in leveraging AI and data-driven solutions for mortgage services.

Pineapple Financial (NYSE American: PAPL) announces Pineapple XChange 2024, a networking and educational event for real estate and mortgage professionals, scheduled for November 6, 2024, at Paramount Eventspace in Woodbridge, Ontario. The event features keynote speaker Paul Baron, owner of C21 Leading Edge and former TRREB President, who will provide market updates and growth strategies. The agenda includes expert panel discussions, a lender partner tradeshow, and presentations on tech updates, housing market outlook, and industry trends. The full-day program runs from 8:00 AM to 4:00 PM, offering opportunities for attendees to connect with industry leaders and gain insights into the 2025 market landscape.

Pineapple Financial (NYSE American: PAPL), a tech-driven mortgage brokerage, will present at the Centurion One Capital 2nd Annual Bahamas Summit on October 22-23, 2024, at the Rosewood Baha Mar Hotel in Nassau. CEO Shubha Dasgupta will present on October 23rd at 2:10 PM EDT, discussing the company's journey, market position, and growth projections.

Pineapple Financial has been ranked among Canada's fastest-growing companies for two consecutive years, with a 166% growth rate. The company is positioned for further growth due to changes in Canadian mortgage regulations and the launch of Pineapple Insurance, offering life, creditor, and disability coverage for mortgage clients.

The summit will feature presentations from public and private companies across various industries to prominent investors from Canada, the United States, and abroad.

Pineapple Financial Inc. (NYSE American: PAPL) has been recognized among Canada's Fastest-Growing Companies for the second consecutive year by the Globe and Mail's Report on Business. The company achieved an impressive 166% growth over the past three fiscal years, securing a spot among 416 companies on the prestigious list.

This recognition highlights Pineapple's success in leveraging cutting-edge technology, empowering mortgage professionals, and expanding its presence across Canada. Despite challenges such as high interest rates and inflation, the company has demonstrated resilience and continued growth.

CEO Shubha Dasgupta emphasized the company's commitment to innovation and empowering its nationwide network of brokers. President Kendall Marin highlighted Pineapple's technological advancements, including PineappleONE, Maui AI, and Doc Genius, which solidify its position in the Canadian mortgage industry.

Pineapple Financial (NYSE American: PAPL) is poised for strategic growth following recent Canadian mortgage rule changes. The reforms, effective August 1, 2024, introduce 30-year amortizations for first-time buyers and increase the insured mortgage cap to $1.5 million. These changes aim to boost market activity by improving accessibility for first-time and move-up buyers.

Pineapple's data-driven platform, PineappleONE, is well-positioned to capitalize on these reforms. The company plans to expand its reach to first-time buyers and empower move-up buyers with tailored mortgage solutions. Pineapple's growth potential is further supported by Canada's robust housing demand, driven by population growth and housing supply shortages.

With over 700 agents using PineappleONE, Pineapple Financial aims to increase productivity and market share in response to rising demand. The company's tech-enabled scalability, data-driven decision-making, and expanding broker network position it as a potential leading force in the evolving Canadian mortgage landscape.

Pineapple Financial Inc. (NYSE American: PAPL) has launched Pineapple Insurance, a new business vertical offering life, creditor, and disability coverage for mortgage clients. This strategic move taps into Canada's multi-billion dollar insurance market, which generated $122 billion CAD in premiums in 2022. The Canadian life and health insurance sector is projected to grow at 4.5% annually through 2027.

Pineapple Insurance aims to capture a share of the market where over 700,000 new mortgages are issued annually in Canada, with 47% of mortgages expected to renew in the next three years. This initiative is expected to significantly enhance overall revenue, improve customer experience, and increase client retention. The company anticipates a rise in its already impressive retention rates, which currently exceed 70% across its mortgage portfolio.

Pineapple Financial Inc. (NYSE American: PAPL) is poised for significant growth following the Bank of Canada's recent 25-basis-point rate cut to 4.25%. The company's strategic position in the Canadian mortgage market is strengthened by several factors:

1. Increasing housing supply: Over 240,000 housing completions in 2023, with 260,000 more expected by the end of 2024.
2. Mortgage renewals: 1.2 million mortgages (20% of the Canadian market) set to renew in the next 12 months, representing over $440 billion in potential volume.
3. Advanced technology: PineappleONE platform utilizes real-time data analytics for targeted customer engagement.

Pineapple projects an 18-22% year-over-year revenue growth, driven by its ability to capitalize on the renewal market and new mortgage originations. The company's data-driven approach positions it as a key player in the evolving Canadian housing market.

Pineapple (NYSE American: PAPL) anticipates significant growth opportunities as the Bank of Canada (BoC) is expected to implement interest rate cuts, potentially lowering the overnight rate to 2.75% by mid-2025. This shift is driven by easing inflationary pressures and stabilizing economic conditions. The Canadian mortgage market could see a 10-15% increase in mortgage origination volume over the next 12-18 months, with 5-year fixed mortgage rates potentially dropping below 4%.

Pineapple aims to capitalize on this trend by focusing on data-driven decision-making and strategic customer engagement, particularly targeting the upcoming wave of mortgage renewals. The company projects a 20-25% growth in mortgage origination volume over the next two years, with a corresponding increase in revenue. This growth is expected to strengthen Pineapple's market position and deliver value to shareholders.

Pineapple Financial Inc. (NYSE American: PAPL) reported significant success with its PineappleONE platform, designed to streamline mortgage processing. Key findings include:

• 32% reduction in deal processing time
• 22.72% growth in mortgage loan volumes, reaching $377.64 million in Q3 fiscal 2024
• 20.43% increase in revenue, totaling $736,448 in Q3 fiscal 2024

Brokers fully adopting PineappleONE saw individual loan volumes increase by an average of 28%, with some top performers reporting a 37.5% reduction in time spent per transaction. The company plans to introduce AI-driven tools to further optimize lead management and client retention.