Pineapple Financial Reports 1Q24 Revenue Decline Of 36.2% Y/Y; Net Loss Per Share $(0.14) Compared To $(0.12) YoY
Portfolio Pulse from Benzinga Newsdesk
Pineapple Financial (PAPL) reported a significant revenue decline of 36.2% year-over-year in the first quarter of fiscal 2024. The company also experienced a net loss per share of $(0.14), which is a slight increase from the previous year's $(0.12) loss per share. Despite the revenue decline, Pineapple Financial increased its unrestricted cash and receivables by $1.721 million, ending the quarter with $3.419 million in total.
January 17, 2024 | 6:29 am
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Pineapple Financial reported a 36.2% decrease in revenue and a net loss per share of $(0.14) for Q1 2024, compared to $(0.12) in the previous year. However, the company's unrestricted cash and receivables saw an increase.
The reported decline in revenue and increased net loss per share are negative indicators that are likely to impact investor sentiment and the stock price negatively in the short term. The increase in unrestricted cash and receivables may provide some cushion, but it is generally outweighed by the core financial performance metrics.
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