[Executive Summary & Business Overview](index=1&type=section&id=Executive%20Summary%20%26%20Business%20Overview) This section provides an overview of Pineapple Energy's strategic direction, leadership commentary, and core business model, highlighting its focus on solar and storage expansion [CEO & CFO Commentary](index=1&type=section&id=CEO%20%26%20CFO%20Commentary) Pineapple Energy's leadership highlighted resilience and positive adjusted EBITDA in FY2023 despite headwinds, focusing on cash flow and working capital funding - Pineapple Energy delivered a strong Q4 and full year 2023, generating **$79.6 million in revenue**, just shy of guidance, and achieving **positive adjusted EBITDA for the full year**, despite challenges from high interest rates, policy uncertainty, and consumer malaise[2](index=2&type=chunk) - The company anticipates interest rates to fall, hardware costs to decrease, and utility prices to increase in 2024, which is expected to improve the value proposition for rooftop solar and drive demand, paving the way for future acquisitions and organic expansion[2](index=2&type=chunk) - Pineapple achieved **$1.2 million in positive pro forma adjusted EBITDA** for the full year 2023, demonstrating successful cost control and operating leverage. The primary focus remains on generating positive EBITDA and cash flow from operations, alongside pursuing various funding sources for working capital[3](index=3&type=chunk) [Company Overview](index=4&type=section&id=Company%20Overview) Pineapple Energy expands local solar, storage, and energy services across the U.S., powering the energy transition - Pineapple Energy focuses on growing leading local and regional solar, storage, and energy services companies nationwide[22](index=22&type=chunk) - The company's vision is to power the energy transition through grassroots growth of solar electricity paired with battery storage[22](index=22&type=chunk) - Pineapple's brand portfolio includes SUNation, Hawaii Energy Connection, E-Gear, Sungevity, and Horizon Solar Power, providing end-to-end solar, battery storage, and grid services[22](index=22&type=chunk) [GAAP Financial Results](index=1&type=section&id=GAAP%20Financial%20Results) This section details Pineapple Energy's GAAP financial performance for Q4 and full-year 2023, covering revenue, gross profit, operating expenses, net loss, and balance sheet highlights [Fourth Quarter 2023 GAAP Highlights](index=1&type=section&id=Fourth%20Quarter%202023%20GAAP%20Highlights) Q4 2023 GAAP results showed significant improvements, including a **13% revenue increase**, **10% gross profit rise**, and reduced operating and net losses Q4 2023 GAAP Financial Highlights (YoY Change) | Metric | Change from Q4 2022 | | :-------------------------------- | :------------------ | | Revenue | Up 13% | | Gross profit | Up 10% | | Operating Expenses | Down 8% | | Operating Loss | Decreased 34% | | Net Loss from continuing operations | Decreased 91% | | Pro forma adjusted EBITDA | Up 222% | | Positive cash flow from operations | $157,937 | [Full Year 2023 GAAP Results](index=2&type=section&id=Full%20Year%202023%20GAAP%20Results) FY2023 GAAP results showed substantial revenue and gross profit growth, driven by acquisitions, with reduced net loss and improved diluted EPS [Revenue](index=2&type=section&id=Revenue) Q4 2023 revenue increased **13%** to **$19.4 million**, and FY2023 revenue surged **189%** to **$79.6 million**, primarily due to the SUNation acquisition Revenue Performance (GAAP) | Period | 2023 Revenue | 2022 Revenue | YoY Change | | :---------------- | :------------- | :------------- | :--------- | | Fourth Quarter | $19,442,296 | $17,183,616 | +13% | | Full Year | $79,632,709 | $27,522,099 | +189% | - The increase in revenue for both periods was primarily due to the SUNation acquisition in Q4 2022[7](index=7&type=chunk) [Gross Profit](index=2&type=section&id=Gross%20Profit) Q4 2023 gross profit rose **10%** to **$5.5 million**, and FY2023 increased **275%** to **$27.7 million**, driven by acquisitions and improved margins Gross Profit Performance (GAAP) | Period | 2023 Gross Profit | 2022 Gross Profit | YoY Change | | :---------------- | :------------------ | :------------------ | :--------- | | Fourth Quarter | $5,520,482 | $5,005,131 | +10% | | Full Year | $27,696,190 | $7,377,445 | +275% | - Gross profit margin improvements were due to the SUNation acquisition and an improvement in equipment costs and financing fees[8](index=8&type=chunk) [Operating Expenses](index=3&type=section&id=Operating%20Expenses) Q4 2023 operating expenses decreased **8%** to **$7.9 million**, while FY2023 increased **97%** to **$35.2 million**, influenced by acquisition-related costs Operating Expenses (GAAP) | Period | 2023 Operating Expenses | 2022 Operating Expenses | YoY Change | | :---------------- | :---------------------- | :---------------------- | :--------- | | Fourth Quarter | $7,858,152 | $8,550,236 | -8% | | Full Year | $35,163,055 | $17,826,124 | +97% | - Q4 2023 operating expenses included **$1.1 million of amortization and depreciation**, **$246,131 of stock-based compensation**, and a **$190,000 unfavorable fair value remeasurement of earnout consideration**[10](index=10&type=chunk) - Full-year 2023 operating expenses included **$5.1 million of amortization and depreciation**, **$1.2 million of stock-based compensation**, and a **$1.35 million unfavorable fair value remeasurement of earnout consideration**[11](index=11&type=chunk) [Other Income (Expenses)](index=3&type=section&id=Other%20Income%20(Expenses)) Other income significantly decreased in Q4 and FY2023, primarily due to reduced CVR remeasurement, increased interest expense, and lower asset sale gains Other Income (GAAP) | Period | 2023 Other Income | 2022 Other Income | YoY Change | | :---------------- | :------------------ | :------------------ | :--------- | | Fourth Quarter | $780,884 | $3,017,849 | -$2.2M | | Full Year | $646,149 | $7,182,860 | -$6.5M | - Q4 2023 decrease in other income was primarily due to a **$1.8 million decrease in favorable fair value remeasurement of contingent value rights** and an increase in interest expense[12](index=12&type=chunk) - Full-year 2023 decrease in other income was due to a **$4.68 million favorable fair value remeasurement of earnout consideration in 2022** and a decrease in gain on sale of assets in 2023[12](index=12&type=chunk) [Net Loss and EPS](index=3&type=section&id=Net%20Loss%20and%20EPS) Net loss from continuing operations significantly improved in Q4 2023 to **$1.7 million** and in FY2023 to **$6.9 million**, with corresponding EPS improvements Net Loss and Diluted EPS (GAAP) | Metric | Q4 2023 | Q4 2022 | FY 2023 | FY 2022 | | :-------------------------------- | :---------- | :---------- | :---------- | :---------- | | Net Loss from continuing operations | ($1,677,358) | ($17,403,394) | ($6,939,892) | ($20,141,948) | | Diluted Loss per Share | ($0.16) | ($2.58) | ($0.69) | ($2.99) | - The net loss figures for 2022 include the effect of **$16.9 million in deemed dividends attributable to shareholders**[6](index=6&type=chunk)[13](index=13&type=chunk) [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) Total assets decreased to **$58.2 million** by Dec 31, 2023, from **$74.7 million** in 2022, driven by reductions in current assets, liabilities, and equity Consolidated Balance Sheet Highlights | Metric | Dec 31, 2023 | Dec 31, 2022 | | :-------------------------------- | :------------- | :------------- | | Total Assets | $58,172,811 | $74,695,487 | | Total Liabilities | $37,736,022 | $47,473,195 | | Total Stockholders' Equity (Deficit) | $20,436,789 | $27,222,292 | | Cash and cash equivalents | $3,575,283 | $2,187,540 | | Restricted cash and cash equivalents | $1,821,060 | $3,068,938 | | Investments | — | $2,666,766 | | Goodwill | $20,545,850 | $20,545,850 | | Intangible assets, net | $15,808,333 | $20,546,810 | - As of December 31, 2023, cash, cash equivalents, and restricted cash totaled **$5.4 million**, with **$1.8 million** earmarked for Contingent Value Rights (CVRs) related to the legacy CSI business[14](index=14&type=chunk) [Consolidated Statements of Operations and Comprehensive Loss](index=8&type=section&id=Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) FY2023 consolidated operations show significant revenue and gross profit growth, largely acquisition-driven, with increased operating expenses but a substantially reduced net loss Consolidated Statements of Operations and Comprehensive Loss (FY2023 vs FY2022) | Metric | 2023 | 2022 | | :------------------------------------------------ | :------------- | :------------- | | Sales | $79,632,709 | $27,522,099 | | Cost of sales | $51,936,519 | $20,144,654 | | Gross profit | $27,696,190 | $7,377,445 | | Total operating expenses | $35,163,055 | $17,826,124 | | Operating loss from continuing operations | ($7,466,865) | ($10,448,679) | | Other income, net | $646,149 | $7,182,860 | | Net loss from continuing operations | ($6,939,892) | ($3,278,056) | | Net loss | ($8,132,167) | ($10,352,240) | | Net loss attributable to common shareholders | ($8,132,167) | ($27,216,132) | | Basic net loss per share (Continuing operations) | ($0.69) | ($2.99) | | Diluted net loss per share (Continuing operations) | ($0.69) | ($2.99) | [Pro Forma Financial Analysis](index=2&type=section&id=Pro%20Forma%20Financial%20Analysis) This section presents Pineapple Energy's pro forma operating metrics and financial results, including adjusted EBITDA, providing a normalized view of performance post-acquisitions [Pro Forma Operating Metrics](index=2&type=section&id=Pro%20Forma%20Operating%20Metrics) Q4 2023 pro forma operating metrics showed decreased residential kW installed but increased kW sold and battery attachment rate, with mixed results for FY2023 Pro Forma Operating Metrics (Q4 2023 vs Q4 2022) | Metric | Q4 2023 vs Q4 2022 Change | | :-------------------------- | :------------------------ | | Residential kW installed | Down 17% | | Residential kW sold | Up 2% | | Residential battery attachment rate | Up to 38% (from 28%) | | Backlog (as of Dec 31, 2023) | Declined to $36M (from $39M as of Oct 31, 2023) | Pro Forma Operating Metrics (FY 2023 vs FY 2022) | Metric | 2023 vs 2022 Change | | :-------------------------- | :------------------ | | Residential kW installed | Up 8% | | Residential kW sold | Down 1% | | Residential battery attachment rate | Up 3% to 40% (from 37%) | [Pro Forma Financial Results](index=3&type=section&id=Pro%20Forma%20Financial%20Results) Pro forma results show Q4 2023 revenue and gross profit decline, but FY2023 increases, with significant adjusted EBITDA growth for both periods due to improved operating leverage Pro Forma Financial Results (Q4 & FY) | Metric | Q4 2023 | Q4 2022 | FY 2023 | FY 2022 | | :---------------- | :---------- | :---------- | :---------- | :---------- | | Revenue | $19,442,296 | $23,537,582 | $79,632,709 | $73,990,209 | | Gross Profit | $5,520,482 | $7,710,730 | $27,696,190 | $23,788,906 | | Net (Loss) Income | ($1,677,358) | $1,005,577 | ($6,937,872) | ($357,441) | | Adjusted EBITDA* | $207,947 | ($170,536) | $1,236,048 | ($3,311,746) | [Revenue](index=4&type=section&id=Revenue_Pro%20Forma) Q4 pro forma revenue declined **17%** due to decreased residential kW installed and commercial revenue, while FY pro forma revenue increased **8%** from growth across segments - Fourth quarter pro forma revenue declined **17%** compared to the prior year, driven by a **17% decrease in residential kW installed** and a **6% decrease in commercial revenue**, partially offset by a **6% increase in service and other revenue**[16](index=16&type=chunk) - Full year pro forma revenue increased **8%** compared to the prior year, driven by an **8% increase in residential kW installed**, a **4% increase in commercial revenue**, and a **15% increase in service and other revenue**[16](index=16&type=chunk) [Gross Profit](index=4&type=section&id=Gross%20Profit_Pro%20Forma) Q4 pro forma gross profit decreased **28%** due to lower revenue and increased costs, while FY pro forma gross profit increased **16%** from higher revenue and improved margins - Fourth quarter pro forma gross profit decreased **28%** from the prior year due to a decrease in revenue, change in revenue mix, and an increase in indirect costs[17](index=17&type=chunk) - Full year pro forma gross profit increased **16%** from the prior year due to an increase in revenue and margin improvement on reduced equipment costs and financing fees[17](index=17&type=chunk) [Net (Loss) Income](index=4&type=section&id=Net%20(Loss)%20Income_Pro%20Forma) Q4 pro forma net loss increased by **$2.7 million** due to lower gross profit and reduced CVR remeasurement, while FY pro forma net loss increased by **$6.6 million** from various factors - Fourth quarter pro forma net loss increased by **$2.7 million** from the prior year due to the decrease in gross profit and a **$1.8 million decrease in favorable fair value remeasurement of contingent value rights**[18](index=18&type=chunk) - Full year pro forma net loss increased **$6.6 million** from the prior year, primarily due to a **$4.7 million decrease in gain on fair value remeasurement of merger earnout consideration in 2022**, a **$1.9 million decrease in an employee retention credit**, and a **$1.7 million increase in interest expense**[18](index=18&type=chunk) [Adjusted EBITDA](index=4&type=section&id=Adjusted%20EBITDA_Pro%20Forma) Q4 pro forma adjusted EBITDA increased **222%** to **$378,483** due to operating leverage and cost control, with FY adjusted EBITDA increasing **135%** to **$4.7 million** - Fourth quarter pro forma adjusted EBITDA increased **222%**, or **$378,483**, driven by increased operating leverage by controlling costs at SUNation, HEC (Hawaii Energy Connection) and Corporate[19](index=19&type=chunk) - Full year pro forma adjusted EBITDA increased **135%**, or **$4.7 million**, from the prior year[19](index=19&type=chunk) [Non-GAAP Financial Measures Explanation and Reconciliation](index=9&type=section&id=Non-GAAP%20Financial%20Measures%20Explanation%20and%20Reconciliation) This section explains unaudited pro forma financial information and non-GAAP Adjusted EBITDA, detailing its calculation and limitations as an operating performance indicator - Unaudited pro forma financial information represents results as if the CSI merger, HEC and E-Gear asset acquisitions, and SUNation acquisition occurred as of January 1, 2022, and is not necessarily indicative of future results[29](index=29&type=chunk) - Adjusted EBITDA is a non-GAAP financial measure calculated as pro forma net loss, adjusted for interest, income taxes, depreciation, amortization, stock compensation, gain on sale of assets, and non-cash fair value remeasurement adjustments[31](index=31&type=chunk) Reconciliation of Pro Forma Net Loss to Pro Forma Adjusted EBITDA | Metric | Q4 2023 | Q4 2022 | FY 2023 | FY 2022 | | :------------------------------------ | :---------- | :---------- | :---------- | :---------- | | Pro Forma Net Loss | ($1,677,358) | $1,005,577 | ($6,937,872) | ($357,441) | | Interest expense | $789,940 | $353,961 | $2,657,517 | $1,065,945 | | Interest income | ($21,619) | ($6,459) | ($139,560) | ($23,188) | | Income taxes | $120,572 | ($5,182) | $119,176 | $204,453 | | Depreciation | $95,099 | $70,421 | $397,943 | $317,300 | | Amortization | $1,038,382 | $1,216,698 | $4,738,477 | $4,866,793 | | Impairment loss | - | $250,000 | - | $250,000 | | Stock compensation | $246,131 | $285,707 | $1,212,956 | $309,205 | | Gain on sale of assets | - | ($750) | ($437,116) | ($1,229,883) | | FV remeasurement of contingent value rights | ($1,522,693) | ($3,340,509) | ($2,674,966) | ($2,125,949) | | FV remeasurement of earnout consideration | $190,000 | - | $1,350,000 | ($4,684,000) | | Legacy CSI receivables write off | $949,493 | - | $949,493 | - | | Employee retention credit | - | - | - | ($1,904,981) | | **Pro Forma Adjusted EBITDA** | **$207,947** | **($170,536)** | **$1,236,048** | **($3,311,746)** | [Other Information](index=4&type=section&id=Other%20Information) This section covers additional disclosures including the status of contingent value rights, forward-looking statements, and key company contacts [Status of Contingent Value Rights](index=4&type=section&id=Status%20of%20Contingent%20Value%20Rights) As of December 31, 2023, the Contingent Value Rights (CVR) liability was estimated at **$1.7 million**, representing the fair value of legacy CSI assets - The CVR liability as of December 31, 2023, was estimated at **$1.7 million**[21](index=21&type=chunk) - This liability represents the estimated fair value of legacy CSI assets to be distributed to CVR holders[21](index=21&type=chunk) [Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) This section outlines forward-looking statements regarding future financial performance, growth, and operations, noting they are subject to uncertainties and risks - The press release contains forward-looking statements concerning future financial performance, growth, opportunities, cost reductions, acquisitions, cash flows, and earnings[23](index=23&type=chunk) - These statements are based on current expectations and are subject to uncertainty and changes in circumstances, with actual results potentially varying materially due to economic, business, competitive, or regulatory factors and other risks[23](index=23&type=chunk)[24](index=24&type=chunk) [Contacts](index=5&type=section&id=Contacts) Contact information for Pineapple Energy's CEO, Kyle Udseth, and CFO, Eric Ingvaldson, is provided for inquiries - Kyle Udseth, Chief Executive Officer, can be reached at **+1 (952) 996-1674** or **Kyle.Udseth@pineappleenergy.com**[25](index=25&type=chunk) - Eric Ingvaldson, Chief Financial Officer, can be reached at **+1 (952) 996-1674** or **Eric.Ingvaldson@pineappleenergy.com**[25](index=25&type=chunk)

```markdown [Part I. Financial Information](index=3&type=section&id=Part%20I.%20Financial%20Information) [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Presents Pineapple Energy Inc.'s unaudited condensed consolidated financial statements, including balance sheets, statements of operations, and cash flows, with notes on accounting policies and a going concern warning [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to **$62.5 million** as of September 30, 2023, with liabilities and equity also declining due to asset dispositions and net loss Condensed Consolidated Balance Sheet Summary | Metric | September 30, 2023 ($) | December 31, 2022 ($) | | :--- | :--- | :--- | | **Total Current Assets** | $18,922,799 | $25,961,524 | | **Total Assets** | $62,515,472 | $74,695,487 | | **Total Current Liabilities** | $22,170,017 | $25,934,158 | | **Total Liabilities** | $40,654,199 | $47,473,195 | | **Total Stockholders' Equity** | $21,861,273 | $27,222,292 | - Cash and cash equivalents increased to **$3.4 million** from **$2.2 million**, while restricted cash decreased to **$2.2 million** from **$3.1 million**[12](index=12&type=chunk) - Assets held for sale, both current and non-current, were reduced to **zero** from a combined total of approximately **$3.4 million** at the end of 2022, following the sale of the JDL and Ecessa businesses[12](index=12&type=chunk) [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Q3 2023 sales surged to **$18.3 million** from the SUNation acquisition, resulting in **$7.0 million** gross profit, a narrowed operating loss of **$1.6 million**, and a net loss of **$2.4 million** or **($0.24)** per share Q3 2023 vs Q3 2022 Performance | Metric | Three Months Ended Sep 30, 2023 ($) | Three Months Ended Sep 30, 2022 ($) | | :--- | :--- | :--- | | Sales | $18,288,697 | $5,888,162 | | Gross Profit | $7,032,458 | $1,404,173 | | Operating Loss | ($1,564,350) | ($2,423,771) | | Net Loss | ($2,363,036) | ($2,519,996) | | Diluted Net Loss Per Share | ($0.24) | ($0.34) | Nine Months 2023 vs 2022 Performance | Metric | Nine Months Ended Sep 30, 2023 ($) | Nine Months Ended Sep 30, 2022 ($) | | :--- | :--- | :--- | | Sales | $60,190,413 | $10,338,483 | | Gross Profit | $22,175,708 | $2,372,324 | | Operating Loss | ($5,129,195) | ($6,903,563) | | Net Loss | ($6,468,769) | ($2,960,978) | | Diluted Net Loss Per Share | ($0.65) | ($0.49) | [Condensed Consolidated Statements of Changes in Stockholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) Total stockholders' equity decreased from **$27.2 million** to **$21.9 million** for the nine months ended September 30, 2023, primarily due to a **$6.5 million** net loss, partially offset by **$0.97 million** in share-based compensation - The accumulated deficit increased by **$6,468,769** during the first nine months of 2023, reflecting the company's net loss for the period[16](index=16&type=chunk) - Share-based compensation added **$966,825** to additional paid-in capital during the nine-month period[16](index=16&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities was **$0.8 million**, while investing activities provided **$3.6 million**, and financing activities used **$2.4 million**, resulting in a **$0.3 million** increase in total cash to **$5.6 million** for the nine months ended September 30, 2023 Cash Flow Summary (Nine Months Ended Sep 30) | Cash Flow Activity | 2023 ($) | 2022 ($) | | :--- | :--- | :--- | | Net cash used in operating activities | ($825,114) | ($6,341,172) | | Net cash provided by (used in) investing activities | $3,608,534 | ($2,300,726) | | Net cash (used in) provided by financing activities | ($2,446,496) | $16,205,002 | | **Net Increase in Cash** | **$336,924** | **$7,563,104** | - Financing activities in 2023 included **$7.8 million** in new loan borrowings and nearly **$7.0 million** in loan payments, alongside a **$3.0 million** distribution for contingent value rights (CVRs)[22](index=22&type=chunk) - Investing activities in 2023 were driven by **$2.9 million** in proceeds from the sale of investments and **$1.1 million** from discontinued operations[22](index=22&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Provides detailed explanations of financial statements, covering operations, accounting policies, business combinations (CSI, HEC, SUNation), debt, related party transactions, and a going concern warning due to liquidity issues - **Business Focus:** The company is an operator and consolidator of residential solar, battery storage, and grid services solutions, primarily through its Hawaii-based HEC and New York-based SUNation entities[28](index=28&type=chunk)[29](index=29&type=chunk) - **Discontinued Operations:** The legacy JDL and Ecessa businesses were sold on June 30, 2023, and are presented as discontinued operations[31](index=31&type=chunk)[89](index=89&type=chunk) - **Going Concern:** Management has identified substantial doubt about the company's ability to continue as a going concern due to insufficient cash to meet the SUNation earnout payment in Q2 2024[142](index=142&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, highlighting **$18.3 million** revenue, **38%** gross margin, and significant liquidity challenges, including a **$3.2 million** working capital deficit and a going concern warning Q3 2023 vs Q3 2022 Results Summary | Metric | Q3 2023 ($) | Q3 2022 ($) | | :--- | :--- | :--- | | Consolidated Sales | $18,288,697 | $5,888,162 | | Gross Profit | $7,032,458 | $1,404,173 | | Gross Margin | 38% | 24% | | Operating Loss | ($1,564,350) | ($2,423,771) | - The significant increase in revenue was primarily related to the SUNation acquisition, which contributed **$12.0 million** of the **$12.4 million** increase in Q3 2023[158](index=158&type=chunk) - The company had a working capital deficit of (**$3,247,218**) at September 30, 2023, a sharp decline from a positive working capital of **$27,366** at December 31, 2022[170](index=170&type=chunk) - A going concern issue is raised as forecasted cash flows indicate the company will not have sufficient cash to make the first SUNation earnout payment in Q2 2024[177](index=177&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=39&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This item is marked as 'Not applicable' in the report, indicating that the company, as a smaller reporting company, is not required to provide this information - The company has indicated that this section is not applicable[184](index=184&type=chunk) [Controls and Procedures](index=39&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures as of the end of the reporting period and concluded that they were effective - Management concluded that the company's disclosure controls and procedures were effective as of September 30, 2023[186](index=186&type=chunk) - No material changes to the company's internal control over financial reporting occurred during the third quarter of 2023[187](index=187&type=chunk) [Part II. Other Information](index=40&type=section&id=Part%20II.%20Other%20Information) [Legal Proceedings](index=40&type=section&id=Item%201.%20Legal%20Proceedings) The company reports that this item is 'Not Applicable,' indicating no material legal proceedings to disclose for the period - The company has indicated that this section is not applicable[189](index=189&type=chunk) [Risk Factors](index=40&type=section&id=Item%201A.%20Risk%20Factors) A new risk factor addresses non-compliance with Nasdaq's minimum **$1.00** bid price requirement, with the company having until April 24, 2024, to regain compliance and considering a reverse stock split - A new risk factor was added concerning non-compliance with Nasdaq's minimum bid price requirement[190](index=190&type=chunk) - On October 27, 2023, the company received a notice from Nasdaq because its closing bid price was below **$1.00** for over **30** consecutive business days[191](index=191&type=chunk) - The company has a **180-day** period, until April 24, 2024, to regain compliance. It is considering a reverse stock split to address the issue[191](index=191&type=chunk)[192](index=192&type=chunk) ```

Pineapple Energy Inc. (NASDAQ:PEGY) Q3 2023 Earnings Conference Call November 10, 2023 9:00 AM ET Company Participants Eric Ingvaldson - Chief Financial Officer Kyle Udseth - Chief Executive Officer Scott Maskin - Board Director and Founder, SUNation Business Conference Call Participants Donovan Schafer - Northland Capital Markets Jeff Grampp - Alliance Global Partners Operator Good morning. And welcome to the Pineapple Energy Third Quarter 2023 Conference Call. As a reminder, today’s call is being recorded ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________________ FORM 10-Q _____________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______to _____ Commission File Number: 001-31588 PINEA ...

Pineapple Energy Inc. (NASDAQ:PEGY) Q2 2023 Earnings Conference Call August 11, 2023 8:30 AM ET Company Participants Gary Dvorchak - The Blueshirt Group Kyle Udseth - Chief Executive Officer Eric Ingvaldson - Chief Financial Officer Conference Call Participants Donovan Schafer - Northland Capital Markets Jeff Grampp - Alliance Global Partners Operator Good morning, and welcome to the Pineapple Energy's Second Quarter 2023 Conference Call. As a reminder, today's call is being recorded. All participants are i ...

(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________________ FORM 10-Q _____________________________________________________ incorporation or organization) 10900 Red Circle Drive, Minnetonka, MN 55343 (Address ...

Pineapple Energy Inc. (NASDAQ:PEGY) Q1 2023 Earnings Conference Call May 12, 2023 8:00 AM ET Company Participants Gary Dvorchak - The Blueshirt Group Kyle Udseth - Chief Executive Officer Eric Ingvaldson - Chief Financial Officer Conference Call Participants Donovan Schafer - Northland Capital Markets Chip Moore - EF Hutton Jeff Grampp - Alliance Global Partners Operator Good morning, and welcome to the Pineapple Energy First Quarter 2023 Conference Call. As a reminder, today's call is being recorded. All p ...

Financial Performance - Consolidated sales increased to $27,522,099 in 2022 from $38,162 in 2021, primarily due to the merger and acquisitions during 2022 [169]. - Residential revenue accounted for $25,375,067 in 2022, while commercial revenue was $1,673,403, and service revenue was $412,388 [170]. - Consolidated gross profit rose to $7,377,445 in 2022 compared to $38,162 in 2021 [170]. - Net loss attributable to common shareholders was $27,216,132 or $(2.99) per diluted share in 2022, compared to a net loss of $6,235,550 or $(2.03) per diluted share in 2021 [173]. Operating Expenses - Consolidated operating expenses surged 263.8% to $17,826,124 in 2022, driven by $7,160,670 in costs from acquired businesses [171]. Cash Flow and Liquidity - As of December 31, 2022, the company had approximately $7,923,244 in cash and liquid investments, a significant increase from $18,966 at the end of 2021 [175]. - Cash flow used in operating activities was approximately $7,577,199 in 2022, a significant increase from $811,017 used in 2021 [178]. - Net cash provided by financing activities was $15,912,117 in 2022, primarily from a $32,000,000 PIPE transaction [180]. Acquisitions and Liabilities - The Company paid $2.39 million in cash for the SUNation acquisition and entered into a Short-Term Note and a Long-Term Note [183]. - The estimated liability for Contingent Value Rights (CVRs) as of December 31, 2022, was $7,402,714, representing the fair value of legacy CSI assets to be distributed [186]. - The proceeds from CSI's pre-merger business are not available to fund the working capital needs of the post-merger company [186]. Financial Concerns - The Company forecasts insufficient cash flow to repay the Short-Term Note, raising substantial doubt about its ability to continue as a going concern [184]. - The Company seeks additional funding through public or private equity offerings, debt financings, and/or strategic alliances, but may face unfavorable terms [185]. Investments and Risk Management - As of December 31, 2022, the Company had $4,463,089 in restricted funds for the legacy CSI business and $1,272,615 for SUNation's operations [183]. - The Company has no freestanding or embedded derivatives and does not engage in contracts that cannot be designated as normal purchases or sales [190]. - The Company's investments include money market, certificates of deposit, and corporate notes, which do not expose it to material market risk [191].

Pineapple Energy Inc. (NASDAQ:PEGY) Q4 2022 Earnings Conference Call March 31, 2023 8:00 AM ET Company Participants Jennifer Lee - The Blueshirt Group Kyle Udseth - Chief Executive Officer Eric Ingvaldson - Chief Financial Officer Conference Call Participants Donovan Schafer - Northland Capital Markets Chip Moore - EF Hutton Jeff Grampp - Alliance Global Partners Operator Good morning, and welcome to the Pineapple Energy Fourth Quarter 2022 Conference Call. As a reminder, today's call is being recorded. All ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________________ FORM 10-Q _____________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______to _____ Commission File Number: 001-31588 ...