POWERBANK Corp (SUUN) Form 6-K — Sep 29, 2026
PowerBank Corporation reported fiscal year 2026 (ended June 30, 2026) results with revenue of CAD 27.4 million, down from CAD 41.5 million in FY2025, as the company shifted from selling projects to owning them. Profitability metrics improved: gross margin expanded to 34.7% from 25.3%, net loss narrowed by CAD 6.8 million to CAD 24.3 million ((0.58) per share vs (0.97)), and working capital turned positive at CAD 1.6 million from a prior deficit. Momentum indicators include five projects reaching commercial operation, CAD 9.8 million in IPP production revenue, a US$2.95 million DoD solar contract, and safe-harbored projects with estimated ITC value of roughly US$29.7 million.
Key figures
- Revenue
- CAD 27.4 million (FY2026) vs CAD 41.5 million (FY2025)
- Net Income
- CAD -24.3 million (FY2026) vs CAD -31.1 million (FY2025)
- Cash Position
- CAD 10.7 million
- Dod contract
- US$2.95 million
- Gross margin
- 34.7% vs 25.3% prior year
- Gross profit
- CAD 9.5 million
- Adjusted ebitda
- CAD -3.5 million vs CAD -0.8 million
- Working capital
- CAD 1.6 million vs deficit of CAD -1.8 million
- Operating cash flow
- CAD -12.8 million vs CAD -17.3 million
- Nova scotia pipeline
- 12.4 MW
- Itc safe harbor value
- approximately US$29.7 million
- Ipp production revenue
- CAD 9.8 million (up from CAD 9.3 million)
- New york bess additions
- 60 MWh
- Portfolio construction value
- approximately US$74.3 million
AI analysis
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