Pioneering Technology Reports 2025 Q2 Financial Results

(TheNewswire)

Mississauga, ON (May 30, 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 six-months endedMarch 31, 2025. Pioneering’s un audited condensed interim financial statements and MD&Aare available on SEDAR ( www.sedarplus.com ).

Financial Highlights:

• RevenueinQ2 was $407,148 versus$523,628 for the same period a yearago.

• Revenue for the first six-months of fiscal 2025was $1,120,633 versus $1,177,289 in fiscal 2024.

• Gross margin for the first six-months of fiscal 2025 was 54%, the sameas last year.

• Expenses during the six-month period decreasedto $880,471 versus $1,191,088 a year ago.

• Net loss for Q2 was $(261,201) versusalossof$(347,380) a year ago andEBITDA increased to $(214,066) versus $(279,975) during the sameperiod last year.

• The Company had current assets of approximately $2.3 million as atMarch 31, 2025.

Selected Financial Results for the Second Quarter & Six-monthsEnded March 31, 2025 & 2024:

¹ Adjusted EBITDA is a non-IFRS measure and may not be comparable tosimilar financial measures disclosed by other issuers. Please refer to “Non-IFRS Measures” at end of this press release .

Pioneering CEO Kevin Callahan said of the results, “The Company’srevenue saw a decline in the second quarter of 2025 versus Q2 2024 andyear to date revenue is roughly flat versus the same period year ago,while gross profit has remained consistent. The Company has beensuccessful year to date in keeping costs under control. The Company believes that its financial performance in thefirst half of fiscal 2025 was negatively affected by the threatof increased tariffs being imposed on Chinese made goods shipped tothe US and the related market uncertainty, which led to theCompany’s distributors and customers deferring orders while theywait for better visibility on these matters. The Company has focusedon activities to lessen the impact of tariffs in Q3 and beyond bymanaging inventory, shifting its focus to new markets and increasingits sales efforts against non-tariffed product offerings. Thesituation is fluid, but the Company believes it may be able to turnthis current situation into a positive going forward.”

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About Pioneering TechnologyCorp: Pioneering, based in Mississauga, Ontario is an"energy smart" technology company and North America's leaderin innovative cooking fire prevention technologies and products. Ourmission is simple: To help save lives and property from the number onecause of household fire – cooking fires. We do this by engineeringand bringing to market energy-smart solutions that make consumerappliances safer, smarter, and more efficient. Our patentedcooking-fire prevention products address the multi-billion-dollarproblem of cooking fires. According to the National Fire ProtectionAssociation, stovetop cooking is the number one cause of household fire and fire injuries in North America. Pioneering’stemperature limiting control (TLC) technology is now installed in over450,000 multi-residential housing units across North America without asingle cooking fire, delivering peace of mind and a solid return oninvestment for its customers. Pioneering’s proprietary cooking fireprevention solutions include Safe-T-element, SmartBurner, RangeMinder& Safe-T-sensor and are suitable for the majority of the more than140 million stoves/ranges and over 140 million microwave ovens in usethroughout North America. For more info, go to www.pioneeringtech.com .

For more information please contact:

Kevin Callahan, CEO

Phone: 647-945-7515

Email: kcallahan@pioneeringtech.com

Forward Looking Statements

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 of factorscould cause actual events, performance or results to differ materiallyfrom 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 made asof 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.

Non-IFRS Measures

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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