Pineapple Financial Cuts Cash Burn 50%, Saves $1.5M, Reports Q2 Adjusted EBITDA and $0.125M Operating Income
Pineapple Financial reported Q2 2026 gross billings of $3.3M and revenue of $0.7M, producing $0.324M in adjusted EBITDA and $0.125M in adjusted operating income. The company cut cash burn over 50%, booked $1.5M savings (targeting $2.5M by June), launched a $3M share repurchase and advanced its Injective-based treasury.
1. Fiscal Q2 2026 Financial Results
For the three months ended February 28, 2026, Pineapple Financial recorded gross billings of $3.3 million (down from $4.2 million in Q2 2025) and revenue of $0.7 million (versus $0.74 million), delivering $0.324 million in adjusted EBITDA and $0.125 million in adjusted operating income despite non-recurring and non-cash items.
2. Operational Transformation and Cost Reductions
The company executed an operational overhaul that generated $1.5 million of annualized cost savings during Q2 and targets over $2.5 million by June 30, 2026, cutting monthly cash burn by more than 50% through workforce realignment, software rationalization and AI integration.
3. Digital Asset Treasury Expansion
Pineapple deployed capital into Injective (INJ) tokens to generate staking income and established partnerships with Monarq Asset Management and Canary Capital, creating integrated custody, execution and yield-optimization capabilities within its Digital Asset Treasury framework.
4. Share Repurchase and Outlook
Management authorized a $3 million share repurchase program and reaffirmed full-year 2026 revenue guidance of a $7.7 million to $9.5 million run-rate, targeting cash-flow breakeven as its mortgage platform, data tokenization initiatives and treasury strategy scale.