Pineapple Financial Announces Relisting on the NYSE American
Pineapple Financial (NYSE American: PAPLD) has announced its successful relisting on the NYSE American following a 1-for-20 reverse stock split, with trading set to resume on July 22, 2025. The company, a leading Canadian mortgage technology and brokerage firm, has demonstrated strong operational performance with 13.3% year-over-year volume growth and 13.9% increase in gross billings in Q3.
Under CEO Shubha Dasgupta's leadership, Pineapple has implemented significant operational improvements, including a 32.3% reduction in staff-related expenses. The company has advanced its proprietary PineappleONE mortgage platform and launched a national insurance vertical, positioning itself for growth in the Canadian housing market.
Pineapple Financial (NYSE American: PAPLD) ha annunciato il suo successo nel rientrare nel listino NYSE American dopo un reverse stock split 1-per-20, con la ripresa delle contrattazioni prevista per il 22 luglio 2025. L'azienda, leader canadese nel settore della tecnologia ipotecaria e intermediazione, ha mostrato una solida performance operativa con una crescita del volume del 13,3% su base annua e un aumento del 13,9% nelle fatturazioni lorde nel terzo trimestre.
Sotto la guida dell'amministratore delegato Shubha Dasgupta, Pineapple ha introdotto importanti miglioramenti operativi, tra cui una riduzione del 32,3% delle spese relative al personale. L'azienda ha inoltre sviluppato ulteriormente la sua piattaforma ipotecaria proprietaria PineappleONE e ha lanciato un settore assicurativo a livello nazionale, posizionandosi per una crescita nel mercato immobiliare canadese.
Pineapple Financial (NYSE American: PAPLD) ha anunciado su exitosa reintroducción en el NYSE American tras una consolidación de acciones 1 por 20, con la reanudación de operaciones programada para el 22 de julio de 2025. La compañía, líder canadiense en tecnología hipotecaria y corretaje, ha demostrado un sólido desempeño operativo con un crecimiento del volumen interanual del 13,3% y un aumento del 13,9% en facturación bruta en el tercer trimestre.
Bajo el liderazgo de la CEO Shubha Dasgupta, Pineapple ha implementado mejoras operativas significativas, incluyendo una reducción del 32,3% en gastos relacionados con el personal. La empresa ha avanzado en su plataforma hipotecaria propietaria PineappleONE y ha lanzado un vertical nacional de seguros, posicionándose para crecer en el mercado inmobiliario canadiense.
Pineapple Financial (NYSE American: PAPLD)는 1대 20 역병합 이후 NYSE American에 성공적으로 재상장했다고 발표했으며, 거래는 2025년 7월 22일에 재개될 예정입니다. 이 회사는 캐나다를 대표하는 모기지 기술 및 중개 회사로서 3분기에 전년 대비 13.3% 거래량 증가와 총 청구액 13.9% 증가라는 강력한 운영 성과를 보여주었습니다.
CEO Shubha Dasgupta의 리더십 하에 Pineapple은 직원 관련 비용 32.3% 절감을 포함한 중요한 운영 개선을 도입했습니다. 회사는 독자적인 PineappleONE 모기지 플랫폼을 발전시키고 전국 보험 부문을 출시하여 캐나다 주택 시장에서의 성장을 준비하고 있습니다.
Pineapple Financial (NYSE American : PAPLD) a annoncé son succès lors de sa nouvelle cotation au NYSE American suite à un fractionnement inversé d’actions 1 pour 20, avec une reprise des échanges prévue le 22 juillet 2025. L’entreprise, leader canadien dans la technologie hypothécaire et le courtage, a démontré une solide performance opérationnelle avec une croissance du volume de 13,3% en glissement annuel et une augmentation de 13,9% du chiffre d’affaires brut au troisième trimestre.
Sous la direction de la CEO Shubha Dasgupta, Pineapple a mis en œuvre d’importantes améliorations opérationnelles, notamment une réduction de 32,3% des dépenses liées au personnel. L’entreprise a fait progresser sa plateforme hypothécaire propriétaire PineappleONE et lancé un secteur national d’assurance, se positionnant pour une croissance sur le marché immobilier canadien.
Pineapple Financial (NYSE American: PAPLD) hat seine erfolgreiche Wiedereingliederung an der NYSE American nach einem 1-zu-20 Reverse Stock Split bekannt gegeben, wobei der Handel am 22. Juli 2025 wieder aufgenommen wird. Das Unternehmen, ein führendes kanadisches Hypothekentechnologie- und Maklerunternehmen, verzeichnete im dritten Quartal ein jährliches Volumenwachstum von 13,3% sowie eine Steigerung der Bruttorechnungsstellung um 13,9%.
Unter der Leitung von CEO Shubha Dasgupta hat Pineapple bedeutende betriebliche Verbesserungen umgesetzt, darunter eine Reduzierung der Personalaufwendungen um 32,3%. Das Unternehmen hat seine proprietäre PineappleONE-Hypothekenplattform weiterentwickelt und eine nationale Versicherungssparte gestartet, um sich für Wachstum auf dem kanadischen Wohnungsmarkt zu positionieren.
- 13.3% year-over-year volume growth in Q3
- 13.9% increase in gross billings
- 32.3% reduction in staff-related expenses
- Successful relisting on NYSE American indicates improved financial health
- Launch of PineappleONE platform and national insurance vertical shows product expansion
- 1-for-20 reverse stock split indicates previous share price weakness
- Previous delisting suggests historical compliance issues
Insights
Pineapple Financial's NYSE American relisting following a 1-for-20 reverse split signals corporate recovery amid improving operational metrics.
Pineapple Financial's successful relisting on the NYSE American represents a significant corporate recovery milestone. The 1-for-20 reverse stock split was strategically implemented to meet the exchange's minimum price requirements, which typically mandate maintaining a share price above $1.00. This move indicates the company had likely been struggling with compliance issues that threatened its listing status.
The financial improvements highlighted are meaningful:
The timing aligns with a potentially favorable market environment as CEO Dasgupta references normalizing interest rates in Canada, which typically creates refinancing opportunities and increased mortgage activity. This could benefit Pineapple's core business as homeowners seek to capitalize on improved rates.
The company's technology investments in PineappleONE and expansion into insurance verticals demonstrate diversification efforts that could enhance revenue streams beyond their core mortgage brokerage business. The emphasis on data-driven tools positions them to potentially capitalize on Canada's upcoming mortgage renewal cycle.
While the relisting represents corporate progress, investors should recognize that reverse splits themselves don't create value—they're remedial actions to maintain listing compliance. The operational improvements and strategic initiatives will ultimately determine whether this milestone translates to sustainable shareholder returns.
Milestone marks renewed growth strategy, increased accessibility for investors, and operational momentum
Toronto, Ontario--(Newsfile Corp. - July 17, 2025) - Pineapple Financial Inc. (NYSE American: PAPL), a leading Canadian mortgage technology and brokerage company, today announced that it has successfully completed a 1-for-20 reverse stock split and has been approved for relisting on the NYSE American. Trading under the ticker symbol PAPL will resume on July 22, 2025.
This marks a significant milestone in Pineapple's continued growth strategy and reflects the company's return to full exchange compliance, supported by ongoing operational strength and a positive market outlook for the Canadian mortgage sector.
"We've always believed in building a business with long-term purpose and value," said Shubha Dasgupta, CEO of Pineapple Financial. "This milestone is more than a re-listing, it's a reflection of the work we've done to strengthen our business, reinforce our fundamentals, and position Pineapple for sustainable growth. We're grateful to our shareholders and partners for their continued belief in our vision."
The stock split was implemented to regain compliance with the NYSE American's minimum price requirement and broaden institutional appeal. The company has taken a deliberate and strategic approach to this moment, balancing operational efficiency, product innovation, and market opportunity across the Canadian housing and financial services landscape.
Since its IPO, Pineapple has introduced major advancements including PineappleONE, its proprietary mortgage tech platform; a national insurance vertical launch; and robust data-driven tools to support Canada's wave of mortgage renewals and refinancing needs.
"This is a pivotal moment for Pineapple," added Shubha Dasgupta. "We've aligned our platform, people, and product strategy to the market's most pressing needs. As interest rates normalize and Canadians seek greater value and guidance in the housing market, Pineapple is prepared to lead with innovation and integrity."
Operational and Financial Update
Pineapple recently reported improved fiscal Q3 results, reflecting significant progress across its core business. Year-over-year volume grew by
About Pineapple
Pineapple 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.
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LinkedIn: Pineapple Mortgage
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 and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the registration statement 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:
For media inquiries, please contact Shubha Dasgupta, Chief Executive Officer, at Pineapple.
Email: shubha@gopineapple.com
Related Links:
http://empoweredbypineapple.com
Investor Relations Contact:
For investor relations inquiries, please contact Pineapple Financial Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259098
FAQ
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