Pineapple Financial Inc
gopineapple.comWhat Do They Do?
Provides mortgage brokerage services and cloud-based workflow tools to Canadian mortgage agents, brokers, brokerages and borrowers.
10-K for FY2025, filed Dec 3, 2025Pineapple Financial is a Canadian mortgage technology and brokerage company. We provide mortgage brokerage services and technology…View ↗
We offer Brokerage Services for both residential and commercial mortgage opportunities through our proprietary technology platform…View ↗
1. Mortgage Brokering: We employ and engage a number of licensed Field Agents who originate clients, provide mortgage consultation…View ↗
How Do They Make Money?
Lenders pay commissions on funded mortgage deals once the mortgage is funded and the related platform work is complete. Brokers and agents pay monthly platform fees and per-deal underwriting fees; lenders pay sponsorship fees in advance, and insurers pay commissions from collected premiums.
10-K for FY2025, filed Dec 3, 20253.Lender partner service commissions. The balance of total gross revenue, approximately 95%, is derived from commissions and volume-based…View ↗
The Company’s performance obligation is satisfied at a point in time, when the mortgage is funded and all platform-related services for…View ↗
Users access and use our technology platform, Pineapple Plus, for a flat monthly service fee of $145.00 In exchange for this fee, users of…View ↗
Underwriting Revenue is a flat fee charged for risk pre-assessment of the deal before it is submitted to the Lender Partner for funding.…View ↗
Sponsorship revenue is received from lenders to promote their brands at company events. Company received the revenue in advance and any…View ↗
The Company’s subsidiary, Pineapple Insurance Inc., generates its revenue by charging commission on for insurance policies and services.…View ↗
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10-K for FY2025, filed Dec 3, 2025
FY2025 revenue by product or service ↗
$3M
-
10-K for FY2025, filed Dec 3, 2025
$3M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Subscription Revenue
Recurring
10-K for FY2025, filed Dec 3, 2025 |
25%
FY2022: 17%
|
Subscription Revenue, FY2025
$750K Sources
|
Recurring |
|
Insurance
|
6.6% |
Insurance, FY2025
$197.9K Sources
|
|
|
Sponsorship Revenue
|
7.4% |
Sponsorship Revenue, FY2025
$220.9K Sources
|
|
|
Underwriting Revenue
Sold outright
|
4.2%
FY2022: 7.4%
|
Underwriting Revenue, FY2025
$125.8K Sources
|
Sold outright |
|
Other Revenue
|
2.9% |
Other Revenue, FY2025
$87.5K Sources
|
Who Are Their Customers?
Mortgage agents, brokers and brokerages use its platform and brokerage support, while borrowers get mortgage advice and applications through those agents. Affiliated brokers can offer mortgages to their own clients under their own brands.
10-K for FY2025, filed Dec 3, 2025Pineapple Financial is a Canadian mortgage technology and brokerage company. We provide mortgage brokerage services and technology…View ↗
We also provide back-office and pre-underwriting support services (together, the “Brokerage Services”) to Canadian mortgage brokerages (the…View ↗
1. Mortgage Brokering: We employ and engage a number of licensed Field Agents who originate clients, provide mortgage consultation…View ↗
Do Revenues Turn Into Profits?
No. It lost $3.6M in FY2025.
10-K for FY2025, filed Dec 3, 2025
How Are They Changing?
- Net income
-
Sources
10-Q for Q3 FY2026, filed Jul 20, 2026
$25.3MView ↗
- ▲ Now profitable
- vs −$557.7K in Q3 FY2025
10-Q for Q3 FY2026, filed Jul 20, 2026
Open tableView ↗
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Jun 3, 2026
MNP resigned and Davidson was appointed as the new auditor
MNP's reports included an explanatory paragraph about substantial doubt regarding the company's ability to continue as a going concern.
Sources
8-K, filed Jun 3, 2026
On June 1, 2026, MNP LLP (“MNP”) resigned as the independent registered public accounting firm of Pineapple Financial Inc. (the “Company”)…View ↗
Who Do They Compete With?
Competes with Dominion Lending Centres, Verico, Mortgage Alliance, Centum, Nesto, and Homewise
10-K for FY2025, filed Dec 3, 20251.Traditional mortgage brokerages. National networks and franchise systems with established lender relationships and scale (e.g., Dominion…View ↗
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