Pineapple Express (MNAO) Q4 2024 Earnings Report

Pineapple Express Cannabis Company reported a negative QQ4 2024 bottom line with no reported revenue in the data provided, resulting in a meaningful quarterly loss. The reported figures show a operating loss of approximately $727k, EBITDA of about $(996k), and a net loss of roughly $(994k) for the quarter, translating to an EPS of $(0.0559) based on 20.3 million weighted average shares. The company also recorded a notable contribution from other income/expenses totaling around $(268.8k), which contributed to the pre-tax loss of about $(996k) and an after-tax loss of $(994k). On a per-share basis, the negative earnings reflect a dilutive impact given the share count, consistent with early-stage tech services platforms that have not yet achieved meaningful revenue generation. The absence of reported revenue in QQ4 2024 raises questions about the company’s revenue-generation trajectory and monetization strategy in its IT services focus. Management commentary (not available in the provided transcript data) would be critical to understanding whether the business is investing in product development, market expansion, or regulatory/compliance initiatives that could drive longer-term growth. The quarter also highlights the importance of cost discipline, with a defined G&A expense of $8,429 and limited other operating expenditures, suggesting a potential path to improvement if revenue traction materializes. Investors should monitor signs of revenue ramp, gross margin expansion, and cash burn evolution in upcoming periods, as these will be key drivers of longer-term value realization.