Mississauga, ON (May 30, 2025) – TheNewswire - Pioneering Technology Corp. (TSXV: PTE) (“Pioneering” or the “Company”), a technology company and North America’s leader in cooking fire prevention technologies and products, reports its unaudited financial results for the three and six-months ended March 31, 2025. Pioneering’s unaudited condensed interim financial statements and MD&A are available on SEDAR (www.sedarplus.com).

 

Financial Highlights:

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

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

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

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

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

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

 

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

 

	Three Months Ended March 31, 2025	Three Months Ended March 31, 2024	Six Months Ended March 31, 2025	Six Months Ended March 31, 2024
Revenue	$407,148	$523,628	$1,120,633	1,177,289
Gross Profit	237,728	253,096	610,030	638,369
Expenses	490,492	592,481	880,471	1,191,088
Net Income (Loss)	(261,201)	(347,380)	(287,417)	(559,856)
EPS Basic (Loss)	$0.00	$0.00	$0.00	($0.01)
Adjusted EBITDA¹	(214,066)	(279,975)	(216,968)	(438,405)

 ¹ Adjusted EBITDA is a non-IFRS measure and may not be comparable to similar 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’s revenue saw a decline in the second quarter of 2025 versus Q2 2024 and year to date revenue is roughly flat versus the same period year ago, while gross profit has remained consistent. The Company has been successful year to date in keeping costs under control. The Company believes that its financial performance in the first half of fiscal 2025 was negatively affected by the threat of increased tariffs being imposed on Chinese made goods shipped to the US and the related market uncertainty, which led to the Company’s distributors and customers deferring orders while they wait for better visibility on these matters. The Company has focused on activities to lessen the impact of tariffs in Q3 and beyond by managing inventory, shifting its focus to new markets and increasing its sales efforts against non-tariffed product offerings. The situation is fluid, but the Company believes it may be able to turn this current situation into a positive going forward.”

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About Pioneering Technology Corp: Pioneering, based in Mississauga, Ontario is an "energy smart" technology company and North America's leader in innovative cooking fire prevention technologies and products. Our mission is simple: To help save lives and property from the number one cause of household fire – cooking fires. We do this by engineering and bringing to market energy-smart solutions that make consumer appliances safer, smarter, and more efficient. Our patented cooking-fire prevention products address the multi-billion-dollar problem of cooking fires. According to the National Fire Protection Association, stovetop cooking is the number one cause of household fire and fire injuries in North America. Pioneering’s temperature limiting control (TLC) technology is now installed in over 450,000 multi-residential housing units across North America without a single cooking fire, delivering peace of mind and a solid return on investment for its customers. Pioneering’s proprietary cooking fire prevention solutions include Safe-T-element, SmartBurner, RangeMinder & Safe-T-sensor and are suitable for the majority of the more than 140 million stoves/ranges and over 140 million microwave ovens in use throughout 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-looking statements that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, such as the economy, generally, competition in Pioneering’s target markets, the demand for Pioneering’s products, the availability of funding and the efficacy of Pioneering’s technology, governmental regulation and the impact of the COVID-19 pandemic. These forward-looking statements are made as of the date hereof and, except as required by applicable law, Pioneering does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from Pioneering’s expectations and projections.

 

Non-IFRS Measures

Adjusted EBITDA is a measure not recognized under International Financial Reporting Standards (“IFRS”). However, management of Pioneering believes that most shareholders, creditors, other stakeholders and investment analysts prefer to have these measures included as reported measures of operating performance, a proxy for cash flow, and to facilitate valuation analysis. Adjusted EBITDA is defined as earnings before interest income, taxes, depreciation and amortization, impairment losses, stock-based compensation, restructuring costs included in general and administration expense, fair value movement – derivative liability and other non-recurring gains or losses including transaction costs related to acquisition. Management believes Adjusted EBITDA is a useful measure that facilitates period-to-period operating comparisons. Adjusted EBITDA does not have any standard meanings prescribed by IFRS and therefore, may not be comparable to similar measures presented by other issuers. Readers are cautioned that Adjusted EBITDA is not an alternative to measures determined in accordance with IFRS and should not, on its own, be construed as indicators of performance, cash flow or profitability. References to Pioneering’s Adjusted EBITDA should be read in conjunction with the financial statements and management's discussion and analysis of Pioneering posted on SEDAR (www.sedar.com). For a reconciliation of Adjusted EBITDA as presented by Pioneering to net income, please refer to Pioneering’s management’s discussion and analysis.

 

Neither the TSXV nor its Regulation Services Provider (as that term is defined under the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.