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It has the same meaning as profit, to gain from, with its use intended for dramatic flair. Quoted from Preach, part of the Youtube channel Aba & Preach.
When a person puts you in the Friendzone because it's convenient, they profitate from your being in the Friendzone.
Profitate by kameHouse May 12, 2020
Related Words

presitator 

Portmanteau of president and dictator
A president and dictator at the same time
XI Jinping is a total presitator.

'preciate it

Shortened/country way of saying appreciate it.
Damn that bitch is fine, is that yo ex-girl?

Yeah but you can still hit it.

'Preciate it homie.
'preciate it by TheMainMane February 26, 2014
When a girl purposefully leaves you in the friend zone because it is convenient for her.
Guy1: Dude, that girl has so many guys in the friendzone doing shit for her to get some and she totally knows it.

Guy2: What did you expect man? She profitates off that shit.
Profitate by Insigniarum May 12, 2020

preciate 

Yo homie let me hold a dollar. Preciate it.
preciate by D.A. November 18, 2003

prematated 

(adj) Describing an object, person, or situation that is ill-formed, damaged, or just plain messed up.

Likely from "premature" + "mutated".

First known occurrence in common parlance: January 1987, Atlanta, GA.
"Don't be smokin' crack and drinkin' 'cause you'll have them prematated babies."

"I can't believe she's wearing the dress that her mother made to prom--it's totally prematated."

"She was really kind of pretty until she got that botched facelift, and now she looks all prematated."
prematated by clevtrou July 2, 2009