Pineapple Financial Inc. (NYSE:PAPL) on Thursday announced an open-market share buyback program.
Authorizes $3 Million Share Buyback
Pineapple Financial has authorized a share repurchase program of up to $3 million, reflecting the company’s confidence in its long-term strategy and commitment to enhancing shareholder value.
The board approved the repurchase of common shares through open-market transactions. The program is expected to begin in the first half of 2026.
“Our decision to authorize this share repurchase program reflects our conviction in Pineapple’s long-term strategy and the strength of the operating model we’ve built,” stated Shubha Dasgupta, Chief Executive Officer of Pineapple Financial.
“We believe that our current market valuation does not fully reflect the progress we’ve made across our mortgage platform, our data and tokenization initiatives, and our Digital Asset Treasury,” she added.
Operational Reset Targets Cost Savings
The share repurchase announcement follows a broader operational reset Pineapple Financial unveiled earlier this week. The company said the restructuring includes integrating artificial intelligence into core operations to improve efficiency and reduce costs.
Pineapple expects the restructuring to cut annual operating expenses by more than $2.5 million. The company has already realized approximately $1.33 million in savings under the initiative.
The plan includes automating manual workflows and introducing AI-based systems to improve processing speed and operational accuracy. The tools will also support agent engagement and customer interactions.
AI Recruitment Platform To Expand Agent Network
Alongside the operational overhaul, Pineapple is launching an AI-powered recruitment platform to accelerate hiring and expand its network of mortgage professionals.
The platform will connect the company with more than 40,000 agents nationwide. Pineapple said the initiative will help drive revenue growth and strengthen its brokerage platform as it scales its technology-driven mortgage services.
PAPL Price Action: Pineapple Financial shares were down 1.12% at $0.66 during premarket trading on Thursday, according to Benzinga Pro data.
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