What were PowerBank’s (NASDAQ:SUUN) total revenues for the first nine months of fiscal 2026?

PowerBank reported total revenue of $22.2 million for the nine months ended March 31, 2026, slightly down from $23.9 million in the same period of fiscal 2025. Revenue compression was offset by improved profitability and operational efficiency.

How did PowerBank’s gross profit and margins change in FY2026 nine months?

Gross profit rose to $7.8 million, representing a substantial margin expansion to 35%, up from 25.8% a year earlier. Margin improvement was driven by disciplined cost management and operational efficiencies in the North American clean energy projects.

How did PowerBank perform at the net income level?

Net loss narrowed to $12.2 million, or ($0.31) per basic share, compared to a net loss of $34.7 million, or ($1.10) per share in the first nine months of 2025. This reflects a strong recovery in the company’s bottom line despite flat revenues.

What was PowerBank’s adjusted EBITDA for the period?

Adjusted EBITDA loss remained steady year-over-year at $1.3 million, indicating consistent operational performance and discipline in overhead management despite ongoing project capital deployment.

How did PowerBank’s working capital position change in FY2026 nine months?

Working capital improved dramatically to a positive $10.7 million as of March 31, 2026, erasing a $1.8 million deficit from the prior year. This indicates enhanced liquidity and better balance sheet management.

PowerBank margins expand to 35% as New York and Ontario solar projects advance

Written by Isaac FrancisPublished May. 15 2026Last Updated May. 15 2026

PowerBank (NASDAQ:SUUN) reported a significant expansion in its underlying profit margins and a strengthened balance sheet for the first nine months of fiscal year 2026, driven by systematic execution of its North American clean energy project pipeline.

The Toronto-based independent renewable energy developer posted total revenue of $22.2 million for the nine months ended March 31, 2026, compared to $23.9 million during the same period in fiscal 2025.

Despite the slight top-line compression, the company’s gross profit rose to $7.8 million, representing a substantial gross margin expansion to 35%, up from 25.8% in the prior year's period.

The margin enhancement, paired with disciplined corporate overhead management, allowed PowerBank to significantly optimize its bottom line.

The company's net loss narrowed to $12.2 million, or ($0.31) per basic share, marking a major recovery against the net loss of $34.7 million, or ($1.10) per share, suffered during the first nine months of fiscal 2025.

Adjusted EBITDA loss held steady year-over-year at $1.3 million.

A key operational highlight for the period was a dramatic turnaround in the firm's liquidity metrics.

PowerBank reported that its working capital improved to a positive $10.7 million as of March 31, 2026, successfully erasing a severe ($1.8) million working capital deficit recorded at the close of fiscal 2025.

The balance sheet stabilization was achieved despite a deepening cash utilization phase, with net cash outflows from operating activities increasing to $11.4 million, compared to $4.9 million in the prior-year period, as the firm deployed capital to advance late-stage construction assets.

On the project development front, PowerBank accelerated multiple distributed solar and Battery Energy Storage System (BESS) assets across key Northeastern corridors.

In New York State, the developer secured approximately US$3.4 million in regional incentives under the New York State Energy Research and Development Authority (NYSERDA) NY-Sun and Retail Storage Incentive programs, notably advancing its 5 MW AC Conklin Hill Road hybrid solar-plus-storage asset.

Furthermore, to insulate its forward project economics from shifting federal policies, PowerBank confirmed that nine of its U.S. community solar projects have been successfully safe-harbored.

This designation qualifies the installations for an estimated US$65 million in federal Investment Tax Credits (ITC), lowering capital expenditure thresholds as the assets move toward grid interconnection and commercial operation throughout the remainder of the calendar year.