Pinetree Capital Ltd. (TSX:PNP)

Pinetree Capital Income Statement

Financials in millions CAD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Other Revenue	12.15	33.3	6.65	2.29	2.39
Revenue	12.15	33.3	6.65	2.29	2.39
Revenue Growth (YoY)	-63.52%	400.87%	190.48%	-4.39%	42.67%
Gross Profit	12.15	33.3	6.65	2.29	2.39
Selling, General & Admin	1.6	0.79	0.75	0.83	0.64
Operating Expenses	1.6	0.79	0.75	0.83	0.64
Operating Income	10.55	32.52	5.9	1.46	1.76
Interest Expense	-0.01	-0.01	-0.02	-0.02	-0.02
Currency Exchange Gain (Loss)	-0.03	-0	-0.01	-0.19	-0.1
Other Non Operating Income (Expenses)	-	-0.13	-0.11	-0.1	-0.17
EBT Excluding Unusual Items	10.51	32.36	5.77	1.15	1.47
Pretax Income	10.51	32.36	5.77	1.15	1.47
Income Tax Expense	0.62	0.04	0.02	-0.03	0.01
Net Income	9.89	32.33	5.75	1.18	1.46
Net Income to Common	9.89	32.33	5.75	1.18	1.46
Net Income Growth	-69.42%	461.92%	387.54%	-19.12%	21.28%
Shares Outstanding (Basic)	9	9	9	9	8
Shares Outstanding (Diluted)	9	9	9	9	8
Shares Change (YoY)	-	-	-	23.24%	68.42%
EPS (Basic)	1.05	3.44	0.61	0.13	0.19
EPS (Diluted)	1.05	3.44	0.61	0.13	0.19
EPS Growth	-69.51%	461.92%	387.54%	-34.37%	-27.99%
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%
Operating Margin	86.86%	97.63%	88.80%	63.87%	73.31%
Profit Margin	81.38%	97.07%	86.52%	51.55%	60.94%
EBIT	10.55	32.52	5.9	1.46	1.76
EBIT Margin	86.86%	97.63%	88.80%	63.87%	73.31%
Effective Tax Rate	5.92%	0.11%	0.26%	-	0.88%
Revenue as Reported	12.15	33.3	6.65	2.29	2.39

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.