PowerBank reports narrower fiscal 2026 loss as margins improve

• PowerBank reported fiscal 2026 revenue of C$27.4 million, down from C$41.5 million a year earlier.
• Gross margin improved to 34.7%, while net loss narrowed to C$24.3 million.
• The company expects revenue growth to resume in fiscal 2027 following new solar and battery project milestones.

PowerBank (NASDAQ:PBK) reported fiscal 2026 financial results, with lower revenue but improved gross margins and a narrower net loss.

For the year ended June 30, 2026, PowerBank generated revenue of C$27.4 million, compared with C$41.5 million in the prior year.

Despite the decline in revenue, gross margin increased to 34.7% from 25.3%.

The company reported a net loss of C$24.3 million, or C$0.58 per basic share, compared with a net loss of C$31.1 million, or C$0.97 per basic share, in fiscal 2025.

Operating cash outflow improved to C$12.8 million from C$17.3 million, while adjusted EBITDA, a non-IFRS earnings measure, declined to a loss of C$3.5 million from a loss of C$0.8 million.

Revenue from independently owned power projects increased to C$9.8 million from C$9.3 million, reflecting growth from PowerBank’s operating renewable energy assets.

Elsewhere, PowerBank reported working capital of C$1.6 million as of June 30, 2026, compared with a working capital deficit of C$1.8 million a year earlier.

During fiscal 2026, the company achieved commercial operation for an Ontario battery project and three New York community solar projects. It also secured a US$2.95 million federal solar contract.

PowerBank said it expects revenue to return to growth in fiscal 2027 as additional renewable energy projects progress.