PTE:CC - Pioneering Technology Reports 2025 Q3 Financial Results
(TheNewswire)
Mississauga, ON (August 29, 2025) – TheNewswire - Pioneering Technology Corp. ( TSXV: PTE ) (“ Pioneering ” or the “ Company ”), a technology company and North America’sleader in cooking fire prevention technologies and products, reportsits unaudited financial results for the three and nine-months endedJune 30, 2025. Pioneering’s un audited condensed interim financial statements and MD&Aare available on SEDAR+ ( www.sedarplus.com ).
RevenueinQ3 was $841,403 versus$890,214 for the same period in fiscal2024.
Revenue for the first nine months of fiscal 2025was $1,962,036 versus $2,067,475 for the same period in fiscal 2024.
Gross margin for the first nine months of fiscal 2025 was 52% ascompared to 50% for the same period in fiscal 2024.
Expenses during the f irst nine months of fiscal2025decreased to $1,365,376 versus $1,674,157 for the same period in fiscal 2024.
Net loss for Q3 was $(86,927) an improvement versus a loss of$(131,640) in Q3 2024. Net loss for the nine-months was $(374,344)versusalossof ( $691,841) a year ago and EBITDAincreased to $(266,601) versus $(518,773) during the same period lastyear.
The Company had current assets of approximately $1.9 million as atJune 30, 2024.
Selected Financial Results for the Third Quarter & Nine-monthsEnded June 30, 2025 & 2024:
Three Months Ended June 30, 2025 |
Three Months Ended June 30, 2024 |
Nine Months Ended June 30, 2025 |
Nine Months Ended June 30, 2024 |
Revenue |
841,403 |
890,214 |
1,962,036 |
2,067,475 |
Gross Profit |
406,208 |
385,761 |
1,016,237 |
1,024,103 |
Expenses |
484,906 |
505,863 |
1,365,376 |
1,674,167 |
Net Income (Loss) |
(86,927) |
(131,640) |
(374,344) |
(691,841) |
EPS Basic (Loss) |
($0.01) |
($0.01) |
($0.01) |
($0.01) |
Adjusted EBITDA ¹ |
(49,633) |
(80,023) |
(266,601) |
(518,773) |
Pioneering CEO Kevin Callahan said ofthe results, “The Company’s revenue was roughly flat in Q3 versusthe same period a year ago, while gross profit has improved. TheCompany continues to do a good job of keeping costs under control. The Company believes thatcurrent results are being affected by the threat of tariffs being imposed on Chinese made goodsshipped to the US and the related market uncertainty. The Company hasbeen focusing on activities to lessen the impact of tariffs in Q3 bymanaging inventory, shifting its focus to new markets and increasingits sales efforts towards non-tariffed product offerings. Thesituation continues to be fluid, but the Company believes it is makingprogress in some areas that will benefit the Company goingforward.”
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About Pioneering TechnologyCorp: Pioneering, based inMississauga, Ontario is an "energy smart" technology companyand North America's leader in innovative cooking fire preventiontechnologies and products. Our mission is simple: To help save livesand property from the number one cause of household fire – cookingfires. We do this by engineering and bringing to market energy-smartsolutions that make consumer appliances safer, smarter, and moreefficient. Our patented cooking-fire prevention products address themulti-billion-dollar problem of cooking fires. According to theNational Fire Protection Association, stovetop cooking is the numberone cause of household fire and fire injuries in North America.Pioneering’s temperature limiting control (TLC) technology isnow installed in over 450,000 multi-residential housing units acrossNorth America without a single cooking fire, delivering peace of mindand a solid return on investment for its customers. Pioneering’sproprietary cooking fire prevention solutions include Safe-T-element,SmartBurner, RangeMinder & Safe-T-sensor and are suitable for themajority of the more than 140 million stoves/ranges and over 140million microwave ovens in use throughout North America. For moreinfo, go to www.pioneeringtech.com .
For more information please contact:
Kevin Callahan CEO
Phone: 647-945-7515
Email: kcallahan@pioneeringtech.com
The statements made in this press release include forward-lookingstatements that involve a number of risks and uncertainties. Thesestatements relate to future events or future performance and reflectmanagement's current expectations and assumptions. A number offactors could cause actual events, performance or results to differmaterially from the events, performance and results discussed in theforward-looking statements, such as the economy, generally,competition in Pioneering’s target markets, the demand forPioneering’s products, the availability of funding and the efficacyof Pioneering’s technology, governmental regulation and the impactof the COVID-19 pandemic. These forward- looking statements are madeas of the date hereof and, except as required by applicable law,Pioneering does not assume any obligation to update or revise them toreflect new events or circumstances. Actual events or results coulddiffer materially from Pioneering’s expectations and projections.
Adjusted EBITDA is a measure not recognizedunder International Financial Reporting Standards (“IFRS”).However, management of Pioneering believes that most shareholders,creditors, other stakeholders and investment analysts prefer to havethese measures included as reported measures of operating performance,a proxy for cash flow, and to facilitate valuation analysis. AdjustedEBITDA is defined as earnings before interest income, taxes,depreciation and amortization, impairment losses, stock-basedcompensation, restructuring costs included in general andadministration expense, fair value movement – derivative liabilityand other non-recurring gains or losses including transaction costsrelated to acquisition. Management believes Adjusted EBITDA is auseful measure that facilitates period-to-period operatingcomparisons. Adjusted EBITDA does not have any standard meaningsprescribed by IFRS and therefore, may not be comparable to similarmeasures presented by other issuers. Readers are cautioned thatAdjusted EBITDA is not an alternative to measures determined inaccordance with IFRS and should not, on its own, be construed asindicators of performance, cash flow or profitability. References toPioneering’s Adjusted EBITDA should be read in conjunction with thefinancial statements and management's discussion and analysis ofPioneering posted on SEDAR (www.sedar.com). For a reconciliation of Adjusted EBITDA as presented byPioneering to net income, please refer to Pioneering’smanagement’s discussion and analysis.
Neither the TSXV nor its RegulationServices Provider (as that term is defined under the policies of theTSXV) accepts responsibility for the adequacy or accuracy of this release.
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