Pinetree Capital Ltd Announces Unaudited Financial Results for the Period Ended September 30, 2025

Executive Summary

• Pinetree Capital reported a 14% increase in book value per share, rising from $8.28 to $9.45 for the quarter ended September 30 2025.
• Net income for Q3 2025 was $1.98 million (≈$0.21 EPS), compared with $4.82 million ($0.51 EPS) a year earlier, reflecting lower earnings but still positive profitability.
• Total assets grew to $90.07 million and total liabilities remained low at $1.40 million, resulting in book equity of $88.67 million.

Key Details

• Total assets: $90,069 k (up from $78,270 k at 12/31/2024)
• Total liabilities: $1,395 k (up from $571 k at 12/31/2024)
• Book equity: $88,674 k (up from $77,699 k at 12/31/2024)
• Shares outstanding: 9,387,000 (unchanged)
• Book Value per Share (BVPS): $9.45 vs. $8.28 a year earlier (+$1.17, +14%)
• Quarterly expenses: $497 k (0.5% of BV) vs. $367 k in Q2 2025 and $429 k in Q1 2025
• Net investment gains (Q3 2025): $1,854 k (down from $4,966 k YoY)
• Other income (Q3 2025): $544 k (primarily dividend $530 k and interest $14 k) vs. $37 k YoY
• Total expenses (12‑month period ending 9/30/2025): $1,716 k (1.9% of BV) vs. $664 k for same period in 2024 (1.1% of BV)
• Net income: $1,983 k for Q3 2025; $10,975 k for nine months ended 9/30/2025
• Earnings per share – basic & fully diluted: $0.21 for Q3 2025; $1.17 for nine months ended 9/30/2025

Notable Quotes

(No executive quotes were included in the release.)