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PowerBank Corporation Year-End Financial Results for 2026

On September 29, 2026, PowerBank Corporation (NASDAQ: PBK) announced its financial results for the fiscal year ending June 30, 2026. The report indicates significant financial activities as the company continues its mission in the renewable energy sector.

Financial Performance Highlights

In FY2026, PowerBank generated total revenues of CAD 27.4 million, compared to CAD 41.5 million in FY2025. This decline in revenue was expected as the company transitioned strategies from project sales to ownership of energy assets, resulting in enhanced gross margins which improved to 34.7% from 25.3% in the previous year. Additionally, PowerBank noticed a narrowing of net loss by CAD 6.8 million, bringing the total net loss down to CAD 24.3 million in FY2026 from CAD 31.1 million in FY2025.

The company’s adjusted EBITDA showed signs of struggle, recording a loss of CAD 3.5 million compared to a loss of CAD 0.8 million the prior year. However, a noteworthy achievement during this period was the increase in IPP production revenue, rising to CAD 9.8 million up from CAD 9.3 million in the previous fiscal year.

Operational Milestones

PowerBank marks FY2026 as a pivotal year of transformation, focusing on operational successes. Some highlights include:

• - The SFF 06 battery energy storage project in Ontario commenced commercial operations on April 20, 2026.
• - Three new battery energy storage system projects in upstate New York added 60 MWh of capacity to the portfolio.
• - Completion of various Community Solar Projects in New York, reputedly making significant strides in sustainability initiatives.
• - Secured a contract worth CAD 2.95 million with the US Department of Defense for a solar canopy project.

These accomplishments reflect PowerBank's commitment to enhancing its portfolio in the renewable energy landscape.

Future Outlook

Dr. Richard Lu, CEO of PowerBank, expressed optimism regarding the upcoming fiscal year. He emphasized that despite a lower revenue base, the company's enhanced gross margins and reduced cash usage in operations signify a robust foundation for growth moving into FY2027. The firm anticipates a return to revenue growth driven by an expanding portfolio of completed projects and ongoing strategic partnerships aimed at leveraging existing strengths in solar and battery storage technologies.

Key Financials Overview

• - Total Revenue: CAD 27,410,000 (FY2026) vs. CAD 41,531,000 (FY2025)
• - Net Loss: CAD -24,296,000 (FY2026) vs. CAD -31,116,000 (FY2025)
• - Cash Flow from Operations: CAD -12,828,000 (FY2026) vs. CAD -17,260,000 (FY2025)
• - Basic Loss per Share: CAD -0.58 (FY2026) vs. CAD -0.97 (FY2025)

These figures underscore PowerBank's resilience and adaptability in a rapidly evolving energy market.

Conclusion

PowerBank Corporation is at a critical juncture as it continues its commitment to renewable energy, banking on strategic shifts to recuperate lost revenues and enhance profit margins. Investors and stakeholders can look forward to a more robust performance in the upcoming fiscal year as the company leverages its successful project completions and existing market opportunities.

For additional insights and information regarding detailed financial statements, please visit PowerBank's official website.