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 unaudited condensed interim financial statements and MD&Aare available on SEDAR+ (www.sedarplus.com).

Financial Highlights:

• RevenueinQ3 was $841,403 versus$890,214 for the same period in fiscal
  2024.  

• Revenue for the first nine months of fiscal 2025
  was $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% as
  compared to 50% for the same period in fiscal 2024.  

• Expenses during the first nine months of fiscal
  2025decreased 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 EBITDA
  increased to $(266,601) versus $(518,773) during the same period last
  year. 

• The Company had current assets of approximately $1.9 million as at
  June 30, 2024. 

Selected Financial Results for the Third Quarter & Nine-months
Ended June 30, 2025 & 2024:

 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 was roughly flat in Q3 versus
the same period a year ago, while gross profit has improved. The
Company continues to do a good job of keeping costs under control.
The Company believes that
current results are being affected by the threat of tariffs being imposed on Chinese made goods
shipped to the US and the related market uncertainty. The Company has
been focusing on activities to lessen the impact of tariffs in Q3 by
managing inventory, shifting its focus to new markets and increasing
its sales efforts towards non-tariffed product offerings. The
situation continues to be fluid, but the Company believes it is making
progress in some areas that will benefit the Company 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.

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