Pineapple Financial Provides Digital Asset Treasury Update, Launches DAT Dashboard and Announces Injective Protocol Upgrade

Rhea-AI Summary

Pineapple Financial (NYSE American: PAPL) provided an update to its Digital Asset Treasury and launched a real-time DAT dashboard. As of February 11, 2026, the DAT value was approximately $42.74 million, consisting of 7.2 million INJ, $5.0 million in stablecoins, and $15.79 million in cash.

Following an Injective protocol upgrade that doubled the rate of token deflation, Pineapple now targets an annual staking reward of 6.14% on its INJ holdings and cited institutional partners supporting staking and treasury operations.

Positive

• DAT value of ~$42.74 million (as of Feb 11, 2026)
• INJ holdings of 7.2 million tokens
• Cash reserves of $15.79 million
• Target staking yield of 6.14% annual on INJ
• Real-time DAT dashboard launched for investor transparency

Negative

• None.

Key Figures

DAT aggregate value: $42.74M Injective holdings: 7.20M INJ tokens Stablecoin holdings: $5.00M +3 more

6 metrics

DAT aggregate value $42.74M Digital Asset Treasury value as of close Feb 11, 2026

Injective holdings 7.20M INJ tokens INJ position within Digital Asset Treasury

Stablecoin holdings $5.00M Stablecoin component of Digital Asset Treasury

Cash reserves $15.79M Cash component of Digital Asset Treasury

Target staking reward 6.14% annually Target annual staking reward from INJ holdings

INJ token deflation change 2x rate Protocol upgrade doubled token deflation rate

Market Reality Check

Price: $0.6572 Vol: Volume 293,796 is only 9%...

low vol

$0.6572 Last Close

Volume Volume 293,796 is only 9% of the 3,251,313 share 20‑day average, indicating light trading ahead of this update. low

Technical Shares at $0.7054 trade well below the $2.62 200‑day MA and are 92.6% under the 52‑week high, despite being up 980.25% vs the 52‑week low.

Peers on Argus

Peers show mixed, company‑specific moves: SNFCA up 2.75%, BETRW up 32.87%, while...

Peers show mixed, company‑specific moves: SNFCA up 2.75%, BETRW up 32.87%, while CNF and GHI are down and IOR is flat. This pattern does not indicate a broad mortgage finance rotation aligned with PAPL.

Historical Context

5 past events · Latest: Feb 03 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 03	Investor conferences	Neutral	-7.0%	Planned participation in February investor events and conference presentations.
Jan 20	Earnings and outlook	Negative	-8.5%	Q1 2026 results, FY2026 guidance, and DAT valuation and fair‑value impact update.
Dec 29	Board appointment	Positive	-12.1%	Appointment of Anthony Georgiades to board and advisory role on DAT strategy.
Dec 18	Fireside chat	Positive	+3.8%	Announcement of Injective‑focused fireside chat covering tokenization and DAT.
Dec 10	Platform launch	Positive	+5.3%	Launch of mortgage tokenization platform and mortgage data marketplace on Injective.

Pattern Detected

Recent PAPL news around governance and conferences often saw negative price reactions, while more substantive product and platform launches tended to align with positive price moves.

Recent Company History

Over the past few months, Pineapple has steadily advanced its Injective‑focused strategy. A Dec 10, 2025 mortgage tokenization launch on Injective and a data marketplace announcement drew positive reactions. Subsequent fireside‑chat and conference participation in Dec 2025 and Feb 2026 were more promotional and met with selling. The Jan 20, 2026 Q1 results and FY2026 outlook, which highlighted DAT‑driven non‑cash losses, also saw a decline. Today’s DAT dashboard and treasury update continues this Injective‑centric narrative.

Market Pulse Summary

This announcement highlights Pineapple’s deepening focus on its Digital Asset Treasury, now valued a...

Analysis

This announcement highlights Pineapple’s deepening focus on its Digital Asset Treasury, now valued at $42.74M with 7.20M INJ tokens, $5.00M in stablecoins, and $15.79M in cash. The new real‑time DAT dashboard and the Injective protocol upgrade, which doubled token deflation and support a 6.14% staking target, reinforce an INJ‑centric strategy. Investors may track future DAT valuations, INJ network changes, and how this treasury approach interacts with the core mortgage platform.

Key Terms

digital asset treasury, stablecoin, token deflation, on-chain, +4 more

8 terms

digital asset treasury financial

"today provided an update on its Digital Asset Treasury ("DAT") holdings"

A digital asset treasury is a collection of digital items like cryptocurrencies or tokens that a company or organization owns and manages. It’s important because it helps them store, protect, and use these digital assets for business needs, investments, or future growth, much like a cash reserve but in digital form.

stablecoin financial

"$5.00 million stablecoin holdings, and $15.79 million in cash"

A stablecoin is a type of digital currency designed to keep its value steady, often by being backed by traditional assets like money or commodities. For investors, stablecoins offer a reliable way to move money quickly across digital platforms without the value fluctuations common with other cryptocurrencies, making them useful for saving, trading, or transferring funds with less risk of sudden losses.

token deflation financial

"protocol upgrade doubles the rate of token deflation, enhancing INJ as treasury asset"

Token deflation describes a falling supply of a digital token over time, usually because tokens are permanently removed from circulation (for example, by “burning” or automated buybacks). For investors this can matter because, like reducing the number of prints of a collectible, fewer available tokens can push the price higher if demand stays the same; it also affects trading liquidity and the incentives that drive network use and rewards.

on-chain technical

"with an emphasis on on-chain participation," said Shubha Dasgupta"

On-chain describes actions or data that are recorded directly on a blockchain, a public digital ledger that creates a permanent, time-stamped record of transactions. For investors, on-chain activity provides verifiable evidence of transfers, ownership changes or automated program actions (like contract-driven payments); seeing these entries is like checking a bank statement and helps assess liquidity, settlement finality, fees, and transparency when judging risk and market behavior.

staking financial

"Pineapple is now targeting an annual staking reward from its INJ holdings of 6.14%"

Staking is the practice of locking up digital tokens to help run a blockchain network in return for rewards, similar to leaving money in a time deposit that pays interest while it’s unavailable. It matters to investors because staking can generate regular income and affect a token’s circulating supply and price, but it also ties up assets and can carry risks like lock-up periods, reduced liquidity, or technical and platform failures.

validator technical

"These partners support staking operations, validator selection and delegation"

A validator is a person or system that checks and confirms the accuracy and legitimacy of information, transactions, or data before they are accepted and recorded. In the context of digital assets or currencies, validators ensure that transactions follow the rules and are genuine, helping maintain trust and security in the system. For investors, validators are important because they help prevent errors or fraud, ensuring the integrity of the financial network.

net asset value financial

"including real-time data on INJ market pricing ... the Company's estimated net asset value"

Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.

market capitalization financial

"the Company's estimated net asset value, mNAV, and market capitalization."

Market capitalization is the total market value of a company’s outstanding shares, calculated by multiplying the current share price by the number of shares issued. It gives a quick snapshot of a company’s size and how investors value it, influencing perceived risk, index membership, and roughly how much it might cost to buy the whole company — like using a sticker price to compare the relative size and price of different houses.

AI-generated analysis. Not financial advice.

Holdings include 7.20 million Injective tokens, $5.00 million stablecoin holdings, and $15.79 million in cash

INJ protocol upgrade doubles the rate of token deflation, enhancing INJ as treasury asset

Toronto, Ontario--(Newsfile Corp. - February 12, 2026) - Pineapple Financial Inc. (NYSE American: PAPL) ("Pineapple" or "the Company"), a leading fintech platform, today provided an update on its Digital Asset Treasury ("DAT") holdings and launch of its real-time treasury dashboard.

As of the close of business on February 11, 2026, Pineapple's Digital Asset Treasury had an aggregate value of approximately $42.74 million, comprised of 7.2 million Injective ("INJ") tokens, $5.0 million stablecoin holdings, and $15.79 million in cash reserves. In addition, Pineapple launched a treasury dashboard on its website at https://pineappledigitalassets.com/dat-dashboard. This dashboard provides investors with a regularly updated view of essential metrics related to its DAT strategy, including real-time data on INJ market pricing, INJ and other holdings, the Company's estimated net asset value, mNAV, and market capitalization.

"Our Digital Asset Treasury is designed to work in concert with Pineapple's core mortgage platform and data initiatives to strengthen capital efficiency and earnings durability across the business. We remain focused on disciplined execution and responsible stewardship, with an emphasis on on-chain participation," said Shubha Dasgupta, Chief Executive Officer of Pineapple Financial. "Launching our Digital Asset Treasury dashboard is an important step in our commitment to transparency and disciplined capital management. The dashboard gives investors clear, timely visibility into our digital asset holdings, valuation metrics, and treasury strategy, reinforcing our belief that transparency is critical as digital assets become an increasingly important component of modern corporate balance sheets."

In January 2026, the Injective Foundation introduced a protocol upgrade that doubled the rate of token deflation by increasing the pace at which network revenues are used to buy back and burn INJ tokens. This enhancement is expected to strengthen INJ's deflationary mechanics and further align network activity with long-term token scarcity. Pineapple believes this development enhances the structural characteristics of INJ as a treasury asset. As a result of this new protocol, Pineapple is now targeting an annual staking reward from its INJ holdings of 6.14%.

"The recent Injective protocol upgrade is an important positive development for Pineapple. By increasing the rate at which INJ tokens are removed from circulation, the upgrade strengthens the long-term supply dynamics of the network and supports token scarcity over time. We believe this makes INJ a more attractive and durable asset for our Digital Asset Treasury," continued Mr. Dasgupta.

Pineapple's Digital Asset Treasury program is supported by institutional-grade infrastructure and counterparties, including Kraken, FalconX, Innovating Capital, and other leading digital asset firms, as well as external asset managers Monarq Asset Management, led by Shiliang Tang, and Canary Capital, led by Steven McClurg. Together, these partners support staking operations, validator selection and delegation, treasury execution, and ongoing program oversight as the Company advances its INJ-focused treasury strategy.

About Pineapple Financial Inc.
Pineapple Financial Inc. is an award-winning fintech and leading Canadian mortgage brokerage network, focusing on both the long-term success of agents and brokers as well as the overall experience of homeowners. With hundreds of brokers within the network, Pineapple creates cutting-edge cloud-based tools and AI-driven systems to enable its brokers to help Canadians realize their dream of owning a home. Pineapple is active within the community and is proud to sponsor charities across Canada to improve the lives of fellow Canadians.

Safe Harbor Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. They are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and economic needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions, fluctuations in the market price of INJ, including risks related to volatility in the price of INJ, the timing and execution of Digital Asset Treasury capital deployment, the treatment of designated cash balances, and the assumptions underlying non-GAAP metrics such as mNAV, and any associated impairment charges that we may incur as a result of a decrease in the market price of INJ below the value at which INJ is carried on our balance sheet; changes in the accounting treatment relating to our INJ holdings; the Company's financial condition, customer acceptance of our INJ treasury strategy, and other factors discussed in the "Risk Factors" section of the registration statements, and periodic reports filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results. It encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.

Media Contact:
KCSA Strategic Communications
Kristin Cwalinski
pineapple@kcsa.com

Investor Relations:
KCSA Strategic Communications
Jack Perkins
pineapple@kcsa.com

Follow us on social media:
Instagram: @pineapplemortgage @empoweredbypineapple
Facebook: Pineapple Mortgage
LinkedIn: Pineapple Mortgage
X (Formerly Twitter): @PAPLpineapple

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283664

FAQ

What is Pineapple's Digital Asset Treasury value as of February 11, 2026 (PAPL)?

The Digital Asset Treasury was approximately $42.74 million as of February 11, 2026. According to Pineapple, that total comprises 7.2 million INJ tokens, $5.0 million in stablecoins, and $15.79 million in cash reserves.

How many Injective (INJ) tokens does Pineapple hold and what is the stake yield target (PAPL)?

Pineapple holds 7.2 million INJ tokens and targets a 6.14% annual staking reward. According to Pineapple, the yield target follows an Injective protocol upgrade that increased token deflation and informed treasury yield assumptions.

What did the January 2026 Injective protocol upgrade mean for Pineapple's treasury (PAPL)?

The upgrade doubled the rate of token deflation by increasing buyback-and-burn pacing, strengthening INJ scarcity. According to Pineapple, this development enhances INJ's structural characteristics as a treasury asset and supports long-term token scarcity.

Where can investors view Pineapple's DAT metrics and real-time holdings (PAPL)?

Investors can access the company's DAT dashboard online for real-time holdings, market pricing, and mNAV metrics. According to Pineapple, the dashboard provides regularly updated valuation metrics and visibility into its digital asset holdings and strategy.

What composition of assets makes up Pineapple's DAT as disclosed on February 11, 2026 (PAPL)?

The DAT composition is 7.2 million INJ, $5.0 million in stablecoins, and $15.79 million in cash. According to Pineapple, these figures together equal an aggregate DAT value of about $42.74 million.

Which counterparties and managers support Pineapple's Digital Asset Treasury operations (PAPL)?

Pineapple supports its DAT with institutional partners like Kraken, FalconX, Innovating Capital, Monarq Asset Management, and Canary Capital. According to Pineapple, these firms assist with staking, validator selection, treasury execution, and program oversight.