Pineapple Financial Launches Pineapple+, Slashes $1M in Costs, Strengthens Profitability and Growth Strategy
Toronto, Ontario--(Newsfile Corp. - May 1, 2025) - Pineapple Financial Inc. (NYSE American: PAPL) ('Pineapple' or the 'Company'), a leading Canadian mortgage technology and brokerage firm, today announced what it believes is a transformational milestone, official launch of Pineapple+, its fully proprietary, end-to-end broker platform that is expected to eliminate nearly $1 million in annual third-party technology, development and licensing costs while advancing the Company's strategy to streamline operations, accelerate revenue growth, and achieve sustained profitability.
We believe that, Pineapple+ represents a major milestone in the Company's evolution. Developed entirely in-house, Pineapple+ consolidates all primary operational functions including CRM, deal processing, document management, marketing automation, renewals, and business analytics into one seamless and fully owned ecosystem. Selective third-party integrations remain only in specialized areas such as compliance and payroll, ensuring optimized regulatory alignment without compromising independence or control.
As a result of this platform launch, Pineapple has already realized approximately $1 million in annual cost savings through the consolidation of third-party technologies into the Pineapple+ platform. The platform is also expected to materially reduce future development expenditures by centralizing innovation efforts under one scalable infrastructure.
'The launch of Pineapple+ is a transformational moment for our company,' said Shubha Dasgupta, CEO of Pineapple Financial. 'This platform is not only a testament to our innovation and execution capabilities but a key driver toward achieving sustained profitability. By reducing substantial operational costs and building a flexible foundation for future growth, we have significantly enhanced our financial strength and competitive positioning.'
Pineapple has already implemented key components of the Pineapple+ platform and anticipates that associated operational cost savings will be fully reflected beginning in May 2025. This timeline is consistent with the Company's previously communicated objectives to improve operating leverage and support progress toward sustained profitability.
In addition to realized operational savings, Pineapple believes that Pineapple+ is well-positioned to support future revenue growth through several strategic levers:
Pineapple+ also establishes a launchpad for future innovation, unlocking opportunities for advanced AI integrations, predictive analytics, and deeper data intelligence, which we believe will allow the company to continually enhance broker success and operational efficiency.
'Pineapple+ gives us a competitive advantage in a shifting mortgage landscape,' added COO Kendall Marin. 'It strengthens our value proposition to brokers, partners, and clients, while positioning Pineapple as a fintech innovation leader within Canada's mortgage sector. We are confident this milestone will significantly contribute to our long-term growth and shareholder value.'
The full demonstration video for informational purposes of the Pineapple+ platform can be viewed here:
CLICK HERE
About Pineapple Financial
Pineapple Financial Inc. (NYSE American: PAPL) is a leading Canadian mortgage technology and brokerage company focused on delivering the ultimate experience for mortgage brokers, lenders, and clients. Pineapple provides cutting-edge tools, marketing automation, analytics, and proprietary technology designed to simplify and enhance the mortgage process. With a growing national footprint and a commitment to innovation, Pineapple is setting a new standard for excellence in the mortgage industry.
For more information, please visit www.gopineapple.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and 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 financial 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 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.
Given these uncertainties, you should not place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. We do not undertake any obligation to update any such statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments.
Media Contact:
For media inquiries, please contact Shubha Dasgupta, Chief Executive Officer, at Pineapple.
Email: [email protected]
Related Links:
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/250379
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