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0000022701
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United
States
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported):
May 9, 2024
Pineapple Energy Inc.
|
(Exact name of registrant as specified in its charter) |
|
|
Minnesota |
|
001-31588 |
|
41-0957999 |
|
(State or other jurisdiction of incorporation) |
|
(Commission
File Number) |
|
(IRS
Employer Identification No.) |
|
10900
Red Circle Drive
Minnetonka,
MN
|
|
55343 |
|
(Address
of principal executive offices) |
|
(Zip
Code) |
Registrant’s telephone number,
including area code: (952) 996-1674
N/A
(Former name or former address, if changed since last report.)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act
Title
of each class |
Trading
Symbol(s) |
Name
of each exchange on which registered |
Common
Stock, par value, $.05 per share |
PEGY |
The
Nasdaq Stock Market, LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging
growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. |
Results of Operations and Financial Condition. |
On May 9, 2024, Pineapple Energy Inc. (the "Company") issued a press release reporting select financial results for the quarter ended March 31, 2024. A copy of the press release is attached as Exhibit 99.1 and the information set forth therein is incorporated herein by reference and constitutes a part of this report. .
The information contained in this Item 2.02, including Exhibit 99.1, is being furnished and shall not be deemed to be "filed" with the Securities and Exchange Commission for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities of that section and shall not be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01. |
Financial Statements and Exhibits. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
PINEAPPLE ENERGY INC. |
|
|
Date: May 9, 2024 |
By: |
/s/Eric Ingvaldson |
|
|
|
Eric Ingvaldson, Chief Financial Officer |
Exhibit 99.1
Pineapple
Energy Reports First Quarter 2024 Financial Results
May
9, 2024, at 4:00 p.m. EST
First
Quarter 2024:
| ● | Revenue
down 40% from Q1 2023 |
| ● | Gross
profit down 40% from Q1 2023 |
| ● | Operating
Expenses down 31% from Q1 2023 |
| ● | Operating
Loss increased 2% from Q1 2023 |
| ● | Net
Income of $1.2M, Net Loss attributable to common shareholders of $10.1M |
| ● | Adjusted
EBITDA loss of $1.5M |
MINNETONKA,
MN, May 9, 2024 /Globe Newswire/ -- Pineapple Energy Inc. (NASDAQ: PEGY), a leading provider of sustainable solar energy and back-up
power to households and small businesses, today announced financial results for the first quarter ended March 31, 2024.
Pineapple
CEO Kyle Udseth commented, “The first quarter of 2024 presented the toughest operating conditions we’ve faced in our
time as a public company. Negative Q1 EBITDA is not uncommon in the rooftop solar industry due to seasonality and timing, but
we did unfortunately break our prior streak of four consecutive quarters with positive adjusted EBITDA. We’ve been hard
at work in our efforts to get profitability back on-track in Q2, and one positive data point I can share is that kilowatts sold
across the residential businesses in Q1 of 2024 were essentially flat year-over-year vs. Q1 of 2023, which shows strong performance
from our sales teams, especially relative to broader market and industry trends. As we continue to optimize our lead-generation
and conversion funnel and accelerate the sales engine, we believe we can continue pushing healthy volumes through our installation
pipelines while simultaneously right-sizing our overhead expenses. We currently expect that our core markets of Long Island in
New York and Oahu in Hawaii should be stable and strong for the remainder of the year and into 2025. We continue to evaluate opportunities
to acquire new businesses and add new markets to further build off this strong foundation."
Pineapple
CFO Eric Ingvaldson commented, “In addition to unfavorable market conditions in the first quarter of 2024, the first quarter
of 2023 was a tough comparison for Pineapple. In late 2022, permitting issues in Hawaii and delayed equipment deliveries in New
York led to a significant number of projects originally scheduled for the fourth quarter of 2022 being installed in the first
quarter of 2023. These timing issues led to a robust first quarter in the prior year during the period which is normally a seasonal
low point for the business. Despite the year-over-year decline in revenue and gross profit, we were able to minimize the operating
loss in the quarter by achieving a 31% reduction in operating expenses from the prior year.”
First
Quarter Business Highlights
| ● | Pro
forma operating metrics |
| o | Residential
kW installed down 18% (Q1 2024 vs Q4 2023) |
| o | Residential
kW sold down 7% (Q1 2024 vs Q4 2023) |
| o | Residential
battery attachment rate down to 29% in Q1 2024, from 36% in Q4 2023 |
| o | Backlog
declined to $30M as of May 1, 2024, down from $36M as of December 31, 2023 |
First
Quarter 2024 Results from Continuing Operations1
|
1st
Quarter 2024 |
1st
Quarter 2023 |
Revenue |
$13,219,197 |
$22,065,424 |
Gross
Profit |
$4,805,448 |
$8,006,315 |
Operating
Expense |
$6,988,402 |
$10,155,841 |
Operating
Loss |
$(2,182,954) |
($2,149,526) |
Other
Income (Expense) |
$3,391,767 |
($444,414) |
Net
Income (Loss) |
$1,202,651 |
$(2,599,672) |
Net
Loss Attributable to Common Shareholders 2 |
($10,119,988) |
($2,554,989) |
Cash,
restricted cash & investments3 |
$3,292,451
|
$7,610,981 |
Diluted
Loss per Share 2 |
($0.26) |
($0.26) |
Adjusted
EBITDA4 |
$(1,509,570) |
$372,802 |
1
Includes continuing operations and excludes discontinued operations.
2
Includes $11,322,639 of deemed dividends attributable to shareholders in the first quarter of 2024.
3
Includes restricted cash and liquid investments of $1,502,495 as of March 31, 2024, and $5,690,567 as of March 31, 2023,
earmarked for payment of contingent value rights.
4
Adjusted EBITDA is a non-GAAP financial measure. See “Non-GAAP Financial Measures” and the reconciliations in
this release for further information.
Total
revenue was $13.2 million in the first quarter of 2024, down $8.8 million, or 40%, from the first quarter of 2023. Residential
contract sales decreased $6,743,799, or 37%, due to a 29% reduction in residential kilowatts installed and also a decrease in
average price per system installed as result of lower financing fees and lower battery attachment rate. Commercial contract sales
decreased $1,830,586, or 65%, due to a delay in the start of commercial pipeline projects. In addition, there was software revenue
of $250,000 in the first quarter of 2023 is related to a one-time licensing arrangement that did not recur in the first quarter
of 2024.
Total
gross profit was $4.8 million in the first quarter of 2024, a decrease of $3.2 million, or 40%, from the first quarter of 2023.
Gross profit decreased due primarily to decreased revenue. Gross margin remained flat at 36% during the first quarter of 2024
as compared to the first quarter of 2023.
Total
operating expenses were $7.0 million in the first quarter of 2024, a decrease of $3.2 million, or 31%, from the first quarter
of 2023. The decrease in operating expenses was primarily due to lower amortization expense and lower sales and marketing expense,
including commissions, on lower revenue in the quarter and decreased personnel expenses. Operating expenses in the first quarter
of 2024 included $801,792 of amortization and depreciation expense, $197,306 of share-based compensation and a $350,000 favorable
fair value remeasurement of earnout consideration.
Other
income (expense) was $3.4 million in the first quarter of 2024, an increase of $3.8 million, from the first quarter of 2023. The
increase was primarily due to a $3.7 million fair value remeasurement gain on the warrant liability, and a $626,085 increase in
favorable fair value remeasurement of contingent value rights, partially offset by a $306,652 increase in interest expense because
of debt financing closed in the second quarter of 2023.
Net
loss from continuing operations attributable to common shareholders was $10.1 million, or ($0.26) per diluted share in the first
quarter of 2024. This was a decline from the net loss from continuing operations attributable to common shareholders in the first
quarter of 2023 of $2.6 million, or ($0.26) per diluted share. The net loss from continuing operations attributable to common
shareholders in the first quarter of 2024 included $11.3 million in deemed dividends attributable to common shareholders. Net
income from continuing operations in the first quarter of 2024 was $1,202,651, a 146% increase from a net loss from continuing
operations of $2,599,672 in the first quarter of 2023.
First
quarter 2024 adjusted EBITDA decreased 505%, or $1,882,372, compared to the first quarter of 2023, due primarily to the decline
in gross profit, partially offset by the decline in operating expenses.
As
of March 31, 2024, cash, cash equivalents, and restricted cash were $3.3 million. Of that amount, $1.5 million was held as restricted
cash and investments that can only be used for the legacy CSI business and will be distributed to holders of CVRs (Contingent
Value Rights).
Status
of Contingent Value Rights
The
CVR (Contingent Value Rights) liability as of March 31, 2024, was estimated at $1.3 million and represents the estimated fair
value as of that date of the legacy CSI assets to be distributed to CVR holders.
First
Fiscal Quarter 2024 Conference Call Details
As
announced on May 6, 2024, Pineapple will discuss its first fiscal quarter results via a webcast and conference call on Friday,
May 10, 2024 at 08:30 a.m. ET. The call will be hosted by Kyle Udseth, Chief Executive Officer and Eric Ingvaldson, Chief Financial
Officer.
When: |
Friday,
May 10 |
Time: |
8:30am
ET |
Dial-In: |
(646)
307-1963 or toll free (800) 715-9871
Conference ID: 6873571 |
Webcast: |
https://edge.media-server.com/mmc/p/pfj2geyk |
An
archived webcast will be accessible from the “Recent Events” section of Pineapple’s Investor Relations website
for on-demand viewing at https://ir.pineappleenergy.com/news-events.
About
Pineapple Energy
Pineapple
is focused on growing leading local and regional solar, storage, and energy services companies nationwide. Our vision is to power
the energy transition through grass-roots growth of solar electricity paired with battery storage. Our portfolio of brands (SUNation,
Hawaii Energy Connection, E-Gear, Sungevity, and Horizon Solar Power) provide homeowners and small businesses with an end-to-end
product offering spanning solar, battery storage, and grid services.
Forward
Looking Statements
This
press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of
1995, including, among others, statements regarding future financial performance, future growth or growth opportunities, future
opportunities, future cost reductions, future flexibility to pursue acquisitions, future cash flows and future earnings. These
statements are based on the Company’s current expectations or beliefs and are subject to uncertainty and changes in circumstances.
Actual results may vary materially from those expressed or implied by the statements here due to changes in economic, business,
competitive or regulatory factors, and other risks and uncertainties, including those set forth in the Company’s filings
with the Securities and Exchange Commission. The forward-looking statements in this press release speak only as of the date of
this press release. The Company does not undertake any obligation to update or revise these forward-looking statements for any
reason, except as required by law.
Contacts:
|
Pineapple
Energy
Kyle
Udseth
Chief Executive Officer
+1 (952) 996-1674
Kyle.Udseth@pineappleenergy.com
Eric
Ingvaldson
Chief Financial Officer
+1 (952) 996-1674
Eric.Ingvaldson@pineappleenergy.com |
|
| |
| | |
| |
| |
| | |
| |
PINEAPPLE ENERGY INC. |
CONDENSED CONSOLIDATED BALANCE SHEETS |
(Unaudited) |
| |
| | |
| |
ASSETS |
|
| |
March 31 | | |
December 31 | |
| |
2024 | | |
2023 | |
CURRENT ASSETS: | |
| | | |
| | |
Cash and cash equivalents | |
$ | 1,789,956 | | |
$ | 3,575,283 | |
Restricted cash and cash equivalents | |
| 1,502,495 | | |
| 1,821,060 | |
Trade accounts receivable, less allowance for credit losses of $132,586 and
$94,085, respectively | |
| 4,976,483 | | |
| 5,010,818 | |
Inventories, net | |
| 2,919,861 | | |
| 3,578,668 | |
Related party receivables | |
| 27,387 | | |
| 46,448 | |
Prepaid expenses | |
| 1,630,106 | | |
| 1,313,082 | |
Costs and estimated earnings in excess of billings | |
| 6,570 | | |
| 57,241 | |
Other current assets | |
| 293,923 | | |
| 376,048 | |
TOTAL CURRENT ASSETS | |
| 13,146,781 | | |
| 15,778,648 | |
PROPERTY, PLANT AND EQUIPMENT, net | |
| 1,442,561 | | |
| 1,511,878 | |
OTHER ASSETS: | |
| | | |
| | |
Goodwill | |
| 20,545,850 | | |
| 20,545,850 | |
Operating lease right of use asset | |
| 4,408,207 | | |
| 4,516,102 | |
Intangible assets, net | |
| 15,098,958 | | |
| 15,808,333 | |
Other assets, net | |
| 12,000 | | |
| 12,000 | |
TOTAL OTHER ASSETS | |
| 40,065,015 | | |
| 40,882,285 | |
TOTAL ASSETS | |
$ | 54,654,357 | | |
$ | 58,172,811 | |
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | |
| | | |
| | |
CURRENT LIABILITIES: | |
| | | |
| | |
Accounts payable | |
$ | 6,993,067 | | |
$ | 7,677,261 | |
Accrued compensation and benefits | |
| 1,311,762 | | |
| 1,360,148 | |
Operating lease liability | |
| 404,744 | | |
| 394,042 | |
Accrued warranty | |
| 253,176 | | |
| 268,004 | |
Other accrued liabilities | |
| 915,975 | | |
| 867,727 | |
Income taxes payable | |
| 11,535 | | |
| 5,373 | |
Refundable customer deposits | |
| 1,818,487 | | |
| 2,112,363 | |
Billings in excess of costs and estimated earnings | |
| 202,867 | | |
| 440,089 | |
Contingent value rights | |
| 1,314,987 | | |
| 1,691,072 | |
Earnout consideration | |
| 2,500,000 | | |
| 2,500,000 | |
Current portion of loans payable | |
| 1,762,300 | | |
| 1,654,881 | |
Current portion of loans payable - related party | |
| 3,456,631 | | |
| 3,402,522 | |
TOTAL CURRENT LIABILITIES | |
| 20,945,531 | | |
| 22,373,482 | |
LONG-TERM LIABILITIES: | |
| | | |
| | |
Loans payable and related interest | |
| 7,708,979 | | |
| 8,030,562 | |
Loans payable and related interest - related party | |
| 2,195,940 | | |
| 2,097,194 | |
Deferred income taxes | |
| 41,579 | | |
| 41,579 | |
Operating lease liability | |
| 4,087,012 | | |
| 4,193,205 | |
Earnout consideration | |
| 650,000 | | |
| 1,000,000 | |
Warrant liability | |
| 6,863,627 | | |
| - | |
TOTAL LONG-TERM LIABILITIES | |
| 21,547,137 | | |
| 15,362,540 | |
COMMITMENTS AND CONTINGENCIES | |
| | | |
| | |
MEZZANINE EQUITY: | |
| | | |
| | |
Redeemable convertible preferred stock, par value $1.00 per share; 3,000,000 shares authorized; 20,597 and no shares issued and outstanding, respectively | |
| 23,333,613 | | |
| — | |
STOCKHOLDERS' EQUITY (DEFICIT) | |
| | | |
| | |
Convertible preferred stock, par value $1.00 per share; 3,000,000 shares authorized; no and 28,000 shares issued and outstanding, respectively | |
| — | | |
| 28,000 | |
Common stock, par value $0.05 per share; 112,500,000 shares authorized; | |
| | | |
| | |
64,154,286 and 10,246,605 shares issued and outstanding, respectively | |
| 3,207,714 | | |
| 512,330 | |
Additional paid-in capital | |
| 11,470,950 | | |
| 46,977,870 | |
Accumulated deficit | |
| (25,850,588 | ) | |
| (27,081,411 | ) |
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) | |
| (11,171,924 | ) | |
| 20,436,789 | |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | |
$ | 54,654,357 | | |
$ | 58,172,811 | |
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 | |
Non-GAAP
Financial Measures
This
press release also includes non-GAAP financial measures that differ from financial measures calculated in accordance with United
States generally accepted accounting principles (“GAAP”). Adjusted EBITDA is a non-GAAP financial measure provided
in this release, and is net income (loss) calculated in accordance with GAAP, adjusted for interest, income taxes, depreciation,
amortization, transaction costs, stock compensation, gain on sale of assets, and non-cash fair value remeasurement adjustments
as detailed in the reconciliations presented below in this press release.
These
non-GAAP financial measures are presented because the Company believes they are useful indicators of its operating performance.
Management uses these measures principally as measures of the Company’s operating performance and for planning purposes,
including the preparation of the Company’s annual operating plan and financial projections. The Company believes these measures
are useful to investors as supplemental information and because they are frequently used by analysts, investors, and other interested
parties to evaluate companies in its industry. The Company also believes these non-GAAP financial measures are useful to its management
and investors as a measure of comparative operating performance from period to period.
The
non-GAAP financial measures presented in this release should not be considered as an alternative to, or superior to, their respective
GAAP financial measures, as measures of financial performance or cash flows from operations as a measure of liquidity, or any
other performance measure derived in accordance with GAAP, and they should not be construed to imply that the Company’s
future results will be unaffected by unusual or non-recurring items. In addition, these measures do not reflect certain cash requirements
such as tax payments, debt service requirements, capital expenditures and certain other cash costs that may recur in the future.
Adjusted EBITDA contains certain other limitations, including the failure to reflect our cash expenditures, cash requirements
for working capital needs and cash costs to replace assets being depreciated and amortized. In evaluating non-GAAP financial measures,
you should be aware that in the future the Company may incur expenses that are the same as or similar to some of the adjustments
in this presentation. The Company’s presentation of non-GAAP financial measures should not be construed to imply that its
future results will be unaffected by any such adjustments. Management compensates for these limitations by primarily relying on
the Company’s GAAP results in addition to using non-GAAP financial measures on a supplemental basis. The Company’s
definition of these non-GAAP financial measures is not necessarily comparable to other similarly titled captions of other companies
due to different methods of calculation.
Reconciliation
of Non-GAAP to GAAP Financial Information
Reconciliation
of Net Income (Loss) to Adjusted EBITDA:
| |
Three Months Ended March 31 | |
| |
2024 | | |
2023 | |
Net Income (Loss) | |
$ | 1,202,651 | | |
$ | (2,599,672 | ) |
Interest expense | |
| 764,870 | | |
| 458,218 | |
Interest income | |
| (21,555 | ) | |
| (13,693 | ) |
Income taxes | |
| 6,162 | | |
| 5,732 | |
Depreciation | |
| 92,417 | | |
| 110,325 | |
Amortization | |
| 709,375 | | |
| 1,266,698 | |
Transaction costs | |
| - | | |
| 2,020 | |
Stock compensation | |
| 197,306 | | |
| 312,445 | |
Gain on sale of assets | |
| (6,118 | ) | |
| (244,271 | ) |
FV remeasurement of contingent value rights | |
| (376,085 | ) | |
| 250,000 | |
FV remeasurement of earnout consideration | |
| (350,000 | ) | |
| 825,000 | |
FV remeasure of warrant liability | |
| (3,728,593 | ) | |
| - | |
Adjusted EBITDA | |
$ | (1,509,570 | ) | |
$ | 372,802 | |
v3.24.1.u1
Cover
|
May 09, 2024 |
Cover [Abstract] |
|
Document Type |
8-K
|
Amendment Flag |
false
|
Document Period End Date |
May 09, 2024
|
Entity File Number |
001-31588
|
Entity Registrant Name |
Pineapple Energy Inc.
|
Entity Central Index Key |
0000022701
|
Entity Tax Identification Number |
41-0957999
|
Entity Incorporation, State or Country Code |
MN
|
Entity Address, Address Line One |
10900
Red Circle Drive
|
Entity Address, City or Town |
Minnetonka
|
Entity Address, State or Province |
MN
|
Entity Address, Postal Zip Code |
55343
|
City Area Code |
(952)
|
Local Phone Number |
996-1674
|
Written Communications |
false
|
Soliciting Material |
false
|
Pre-commencement Tender Offer |
false
|
Pre-commencement Issuer Tender Offer |
false
|
Title of 12(b) Security |
Common
Stock, par value, $.05 per share
|
Trading Symbol |
PEGY
|
Security Exchange Name |
NASDAQ
|
Entity Emerging Growth Company |
false
|
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N/A
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