Pineapple Financial Exceeds 20 Percent Revenue Growth in Fiscal Q3 2024

July 16, 2024

DENVER, Colo., Jul 16, 2024 (247marketnews.com)- Pineapple Financial Inc. (NYSE:PAPL) stated that its third fiscal quarter of 2024, ended May 31, 2024, revenue reached $736,448, a 20.43% increase compared to its fiscal 2023 third quarter, as Pineapple generated $377.64 million in residential mortgage loans in Q3 fiscal 2024, an increase of nearly $70 million compared to Q3 fiscal 2023.

Shubha Dasgupta, Pineapple’s CEO and co-founder, commented, “This quarter saw positive movement in the right direction from both macroeconomic and business perspectives. Although the real estate market across the country has faced challenges, positive signs have begun to emerge. The Bank of Canada has started reducing interest rates, fixed mortgage rates have dropped, and we are seeing more supply coming onto the market. Additionally, policy changes such as the introduction of 30-year amortizations for first-time homebuyers indicate a focus on helping younger Canadians enter the housing market.

“We are exceptionally pleased with the significant strides we’ve made this quarter.

“The new technology products we’ve launched are driving both increased revenue and reduced costs, demonstrating our commitment to innovation and efficiency. Our participation in numerous conferences and ongoing expansion into new markets highlight our relentless pursuit of growth. As the Canadian real estate market shows signs of recovery, we are poised to capitalize on these favourable conditions and continue our upward trajectory, delivering robust results for our stakeholders.”

 

Pineapple Financial Inc. (NYSE:PAPL) stated that its third fiscal quarter of 2024, ended May 31, 2024, revenue reached $736,448, a 20.43% increase compared to its fiscal 2023 third quarter, as Pineapple generated $377.64 million in residential mortgage loans in Q3 fiscal 2024, an increase of nearly $70 million compared to Q3 fiscal 2023.

Shubha Dasgupta, Pineapple’s CEO and co-founder, commented, “This quarter saw positive movement in the right direction from both macroeconomic and business perspectives. Although the real estate market across the country has faced challenges, positive signs have begun to emerge. The Bank of Canada has started reducing interest rates, fixed mortgage rates have dropped, and we are seeing more supply coming onto the market. Additionally, policy changes such as the introduction of 30-year amortizations for first-time homebuyers indicate a focus on helping younger Canadians enter the housing market.

“We are exceptionally pleased with the significant strides we’ve made this quarter.

“The new technology products we’ve launched are driving both increased revenue and reduced costs, demonstrating our commitment to innovation and efficiency. Our participation in numerous conferences and ongoing expansion into new markets highlight our relentless pursuit of growth. As the Canadian real estate market shows signs of recovery, we are poised to capitalize on these favourable conditions and continue our upward trajectory, delivering robust results for our stakeholders.”

About 24/7 Market News
As a pioneer in digital financial market media, 24/7 Market News (24/7MN) is dedicated to the swift distribution of financial market news and information. 24/7 MN incorporates comprehensive corporate communications resources and tools to engage the investment community. Visit 24/7 Market News website here.

24/7 MARKET NEWS, INC Disclaimer
Please go to https://247marketnews.com/disclaimer/ for disclaimer information.

CONTACT:
24/7 Market News
Editor@247marketnews.com

Related news for (PAPL)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.