PowerBank Announces Fiscal Year End Results
PR Newswire•29/09/2026•07:45 ET
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Key Highlights
- ➤Revenue $27.4 million, down from $41.5 million in FY2025
- ➤Gross margin 34.7%, up from 25.3% in FY2025
- ➤Net loss $24.3 million, narrowed from $31.1 million in FY2025
- ➤Adjusted EBITDA loss $3.5 million, widened from $0.8 million in FY2025
- ➤IPP production revenue $9.8 million, up from $9.3 million
Expert Statements
Dr. Richard Lu, CEO of PowerBank
“Fiscal 2026 was the year PowerBank's financial transformation took hold. While revenue declined as we shifted from selling projects toward owning them, gross margin expanded to 34.7% from 25.3%, we narrowed our net loss by $6.8 million, reduced cash used in operations by $4.4 million, and moved from a working capital deficit to positive working capital of $1.6 million. We brought five projects into commercial operation during the year, including our SFF 06 battery energy storage project in Ontario, and our IPP portfolio generated $9.8 million in production revenue. With this foundation in place, we expect revenue to return to growth in Fiscal 2027.”
Gross Margin Expands to 34.7% from 25.3%; Net Loss Narrows by $6.8 Million; IPP Production Revenue Reaches $9.8 Million
This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated June 5, 2025, to its short form base shelf prospectus dated May 7, 2025.
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