Pineapple Energy Inc
For the period ended Mar 31, 2024. Filed May 10, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 10, 2024
SUNE$2.13+4.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss
| PINEAPPLE ENERGY INC. | ||
|---|---|---|
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) | ||
| (Unaudited) | ||
| Three Months Ended March 31 | ||
| 2024 | 2023 | |
| Sales | $13,219,197 | $22,065,424 |
| Cost of sales | 8,413,749 | 14,059,109 |
| Gross profit | 4,805,448 | 8,006,315 |
| Operating expenses: | ||
| Selling, general and administrative expenses | 6,629,027 | 8,062,123 |
| Amortization expense | 709,375 | 1,266,698 |
| Transaction costs | — | 2,020 |
| Fair value remeasurement of SUNation earnout consideration | (350,000) | 825,000 |
| Total operating expenses | 6,988,402 | 10,155,841 |
| Operating loss | (2,182,954) | (2,149,526) |
| Other income (expense): | ||
| Investment and other income | 45,841 | 19,533 |
| Gain on sale of assets | 6,118 | 244,271 |
| Fair value remeasurement of warrant liability | 3,728,593 | — |
| Fair value remeasurement of contingent value rights | 376,085 | (250,000) |
| Interest and other expense | (764,870) | (458,218) |
| Other income (expense), net | 3,391,767 | (444,414) |
| Net income (loss) before income taxes | 1,208,813 | (2,593,940) |
| Income tax expense | 6,162 | 5,732 |
| Net income (loss) from continuing operations | 1,202,651 | (2,599,672) |
| Net income from discontinued operations, net of tax | — | 44,683 |
| Net income (loss) | 1,202,651 | (2,554,989) |
| Other comprehensive income (loss), net of tax: | ||
| Unrealized gain on available-for-sale securities | — | 24,405 |
| Total other comprehensive income | — | 24,405 |
| Comprehensive income (loss) | $1,202,651 | $(2,530,584) |
| Less: Deemed dividend on extinguishment of Convertible Preferred Stock | (751,125) | — |
| Less: Deemed dividend on modification of PIPE Warrants | (10,571,514) | — |
| Net loss attributable to common shareholders | $(10,119,988) | $(2,554,989) |
| Basic net loss per share: | ||
| Continuing operations | $(0.26) | $(0.26) |
| Discontinued operations | — | — |
| $(0.26) | $(0.26) | |
| Diluted net loss per share: | ||
| Continuing operations | $(0.26) | $(0.26) |
| Discontinued operations | — | — |
| $(0.26) | $(0.26) | |
| Weighted Average Basic Shares Outstanding | 39,410,206 | 9,919,650 |
| Weighted Average Dilutive Shares Outstanding | 39,410,206 | 9,919,650 |
| The accompanying notes are an integral part of the condensed consolidated financial statements. | ||
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