Pineapple Express Reports Zero Revenue and Increased Losses in Q3 2025

Pineapple Express Cannabis Company has reported its financial performance for the third quarter of 2025, revealing a significant decline in revenue compared to the previous fiscal period. For the three months ending October 31, 2025, the company reported no revenue, a decrease from $4,332 during the same period in 2024. Over the nine months ending October 31, 2025, total revenues also fell to zero, down from $16,168 in the prior year. The company recorded a net loss of $622,176 for the nine-month period, compared to a loss of $572 in the same timeframe last year.

The financial statements indicate a substantial increase in operating expenses, which totaled $319,970 for the nine months ending October 31, 2025, compared to $16,740 for the same period in 2024. This increase is attributed to management fees, stock for services, and professional fees. The company’s total liabilities surged to $8,344,100 as of October 31, 2025, compared to just $2,079 at the end of January 2025. This dramatic rise in liabilities is primarily due to accrued interest and convertible notes payable.

Strategically, Pineapple Express has made significant organizational changes, including the acquisition of GROOVY Company, Inc. in March 2025, which has become a majority-owned subsidiary. This acquisition involved the issuance of 5,000,000 shares of common stock in exchange for 350,000,000 shares of Series A Preferred Stock of GROOVY. The company aims to leverage GROOVY's artificial intelligence-powered data analytics platform to enhance its market intelligence offerings in the cannabis industry.

Operationally, the company has not reported any customer counts or user statistics in the latest filing, indicating a potential stagnation in user engagement. The absence of revenue and the increase in operational costs suggest challenges in product adoption and market penetration. The company’s employee headcount remains unspecified, but the financial strain may impact staffing levels moving forward.

Looking ahead, Pineapple Express has acknowledged the risks associated with the evolving cannabis market, including regulatory uncertainties and competitive pressures. The company has indicated that its future growth will depend on the successful integration of the GROOVY platform and the ability to generate revenue through AI-powered market intelligence products. However, the lack of current revenue and the significant losses raise questions about the company's short-term viability and its capacity to navigate the challenges ahead.