Pinnacle Food Reports 57 Percent Revenue Increase and Net Profit of $286K in 2024
Pinnacle Food Group (Nasdaq: PFAI), a provider of smart hydroponic growing systems, reported significant revenue growth but lower profits for fiscal year 2024. The company achieved revenue of $3.29M, marking a 57% increase from 2023, driven by higher system sales of over 3,000 units. However, net profit decreased to $286K ($0.03 per share) from $918K ($0.11 per share) in 2023.
The profit decline was attributed to increased cost of revenue, resulting in reduced gross margin of 47% (down from 61%), and a 303% rise in operating expenses related to IPO preparation. The company successfully completed its IPO in April 2025, raising $7.2M in gross proceeds. Management plans to focus on larger smart farming systems and expand into the APAC region.
Pinnacle Food Group (Nasdaq: PFAI), fornitore di sistemi intelligenti per la coltivazione idroponica, ha registrato una significativa crescita dei ricavi ma una diminuzione dei profitti per l'anno fiscale 2024. L'azienda ha raggiunto un fatturato di 3,29 milioni di dollari, con un aumento del 57% rispetto al 2023, grazie a vendite di sistemi superiori a 3.000 unità. Tuttavia, l'utile netto è sceso a 286.000 dollari (0,03 dollari per azione) rispetto a 918.000 dollari (0,11 dollari per azione) nel 2023.
Il calo dei profitti è stato causato dall'aumento del costo del fatturato, che ha ridotto il margine lordo al 47% (dal 61%), e da un incremento del 303% delle spese operative legate alla preparazione dell'IPO. L'azienda ha completato con successo l'IPO nell'aprile 2025, raccogliendo 7,2 milioni di dollari di proventi lordi. La direzione intende concentrarsi su sistemi di agricoltura intelligente di maggiori dimensioni ed espandersi nella regione APAC.
Pinnacle Food Group (Nasdaq: PFAI), proveedor de sistemas inteligentes de cultivo hidropónico, reportó un crecimiento significativo en ingresos pero una reducción en las ganancias para el año fiscal 2024. La compañía alcanzó ingresos de 3,29 millones de dólares, lo que representa un incremento del 57% respecto a 2023, impulsado por la venta de más de 3,000 unidades. Sin embargo, la ganancia neta disminuyó a 286,000 dólares (0,03 dólares por acción) desde 918,000 dólares (0,11 dólares por acción) en 2023.
La caída en las ganancias se atribuyó al aumento del costo de los ingresos, lo que redujo el margen bruto al 47% (desde 61%), y a un aumento del 303% en gastos operativos relacionados con la preparación de la OPI. La compañía completó exitosamente su OPI en abril de 2025, recaudando 7,2 millones de dólares en ingresos brutos. La gerencia planea enfocarse en sistemas de agricultura inteligente más grandes y expandirse en la región APAC.
Pinnacle Food Group (나스닥: PFAI)는 스마트 수경재배 시스템 제공업체로서 2024 회계연도에 매출은 크게 증가했으나 이익은 감소했다고 보고했습니다. 회사는 329만 달러의 매출을 기록했으며, 이는 2023년 대비 57% 증가한 수치로, 3,000대 이상의 시스템 판매가 견인했습니다. 하지만 순이익은 2023년 91만 8천 달러(주당 0.11달러)에서 28만 6천 달러(주당 0.03달러)로 감소했습니다.
이익 감소는 매출원가 상승으로 인해 총이익률이 61%에서 47%로 하락하고, IPO 준비와 관련된 영업비용이 303% 증가한 데 기인합니다. 회사는 2025년 4월에 성공적으로 IPO를 완료하여 720만 달러의 총 수익을 확보했습니다. 경영진은 더 큰 스마트 농업 시스템에 집중하고 APAC 지역으로의 확장을 계획하고 있습니다.
Pinnacle Food Group (Nasdaq : PFAI), fournisseur de systèmes de culture hydroponique intelligents, a annoncé une croissance significative de son chiffre d'affaires mais une baisse de ses bénéfices pour l'exercice 2024. La société a réalisé un chiffre d'affaires de 3,29 millions de dollars, soit une augmentation de 57% par rapport à 2023, portée par la vente de plus de 3 000 unités. Cependant, le bénéfice net a diminué à 286 000 dollars (0,03 dollar par action) contre 918 000 dollars (0,11 dollar par action) en 2023.
La baisse des bénéfices est due à une augmentation du coût des revenus, entraînant une réduction de la marge brute à 47% (contre 61%), ainsi qu'à une hausse de 303% des dépenses d'exploitation liées à la préparation de l'introduction en bourse. La société a réussi son introduction en bourse en avril 2025, levant 7,2 millions de dollars de produits bruts. La direction prévoit de se concentrer sur des systèmes agricoles intelligents plus grands et de s'étendre dans la région APAC.
Pinnacle Food Group (Nasdaq: PFAI), Anbieter von intelligenten hydroponischen Anbausystemen, meldete für das Geschäftsjahr 2024 ein erhebliches Umsatzwachstum, jedoch geringere Gewinne. Das Unternehmen erzielte einen Umsatz von 3,29 Mio. USD, was einem Anstieg von 57% gegenüber 2023 entspricht, angetrieben durch den Verkauf von über 3.000 Einheiten. Der Nettogewinn sank jedoch von 918.000 USD (0,11 USD je Aktie) im Jahr 2023 auf 286.000 USD (0,03 USD je Aktie).
Der Gewinnrückgang wurde auf gestiegene Umsatzkosten zurückgeführt, was zu einer Verringerung der Bruttomarge auf 47% (von 61%) führte, sowie auf einen 303%igen Anstieg der Betriebskosten im Zusammenhang mit der Vorbereitung des Börsengangs. Das Unternehmen schloss seinen Börsengang im April 2025 erfolgreich ab und erzielte 7,2 Mio. USD Bruttoerlöse. Das Management plant, sich auf größere intelligente Landwirtschaftssysteme zu konzentrieren und in die APAC-Region zu expandieren.
- Revenue increased by 57% year-over-year to $3.29M
- Unit sales grew to over 3,000 smart farming systems (vs 2,600 in 2023)
- Cash position strengthened to $686K (from $121K in 2023)
- Successfully completed IPO raising $7.2M in gross proceeds
- Strategic shift towards larger systems targeting community groups and urban farms
- Net profit declined 69% to $286K from $918K year-over-year
- Gross profit margin decreased to 47% from 61% in 2023
- Operating costs increased significantly by 303% due to IPO preparation
Insights
Pinnacle shows strong revenue growth but declining profits amid IPO preparation and lower margins; recent capital raise provides growth runway.
Pinnacle Food's financial results present a mixed picture for investors. While revenue increased impressively by
The profit decline stems from two key factors: First, gross margin compressed significantly from
Unit sales growth was more modest than revenue growth, with smart farming system sales increasing from 2,600 to 3,000 units (
This capital infusion provides significant runway for the company's growth initiatives, particularly important given the current compressed margins. The strategic shift toward larger systems for community groups and urban farms could potentially improve the company's economics if successfully executed, as could the planned expansion into the APAC market.
Pinnacle's operational metrics reveal both opportunities and challenges in the smart hydroponic systems market. The
The significant margin compression (from
The CEO's strategy to shift toward larger systems for community groups and urban farms makes technical sense. Larger hydroponic installations generally offer better economics through more efficient resource utilization (water, energy, nutrients) per growing area. They also typically require more sophisticated controls and monitoring systems, potentially commanding higher margins than consumer-oriented products.
The planned expansion into APAC aligns with market trends, as urban farming has gained significant traction in space-constrained, food-security conscious Asian markets like Singapore, Japan, and urban China. These markets often have supportive government policies for urban agriculture technologies, potentially accelerating adoption of Pinnacle's systems if they can successfully navigate the region's unique requirements.
Vancouver, BC, July 17, 2025 (GLOBE NEWSWIRE) -- Pinnacle Food Group Limited (Nasdaq: PFAI) (“Pinnacle” or “the Company”), a seller of smart hydroponic growing systems and technical support services to individual households, community groups, and urban farms, today announced that, for the year ended December 31, 2024, the Company had revenue of
Pinnacle’s increased revenue in 2024 resulted from an increase in sales of its smart farming systems compared to 2023. The Company sold over 3,000 smart farming systems in 2024 compared to 2,600 systems in fiscal 2023.
The Company’s decrease in net profit in fiscal 2024 was primarily the result of an increase in cost of revenue of
The Company had cash of
Pinnacle closed its IPO on April 23, 2025, raising gross proceeds of
“We are encouraged by our strong revenue performance in fiscal 2024,” said Pinnacle chief executive Jiulong You. “Going forward, we anticipate our sales mix shifting to include more of our larger smart farming systems sold to community groups and urban farms, thus improving our revenue base and margins. We also intend to expand our sales footprint into the APAC region, where we believe demand for smart farming systems is growing rapidly.”
Mr. You said he looked forward to sharing additional details on the above developments “in the near future.”
About Pinnacle Food Group Limited
Incorporated in Cayman Islands, Pinnacle Food Group Limited sells smart hydroponic growing systems and technical support services to individual households, community groups, and urban farms. Pinnacle offers both tailored hardware solutions and data-driven support, allowing users to optimize their smart farming productivity. For more information, please visit the Company’s website at https:// www.pinnaclefoodinc.com.
FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.
These statements are subject to uncertainties and risks, including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the “Risk Factors” section of the registration statement for the offering filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and 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.
Pinnacle Food Group Limited Investor Contact:
Wencai Pan
Chief Financial Officer
Office: +1 604 727 7204
Email: ir@pinnaclefoodinc.com
Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: (646) 893-5835
Email: info@skylineccg.com
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