PowerBank (NASDAQ:SUUN) reported a significant narrowing of its net loss for the first half of fiscal 2026, as the renewable energy developer pivots toward a more capital-efficient model and locks in a massive construction pipeline in the Northeastern U.S.
The Toronto-based firm posted revenue of $22.3 million for the six months ended Dec. 31, 2025.
While the company reported a net loss of $6.7 million, the figure represents a sharp improvement over the $28.2 million loss recorded in the same period a year prior.
Adjusted EBITDA turned positive at $2.45 million, reflecting higher margins from its engineering, procurement, and construction (EPC) services and its independent power producer (IPP) segment.
PowerBank’s strategy to monetize development assets while retaining construction contracts was highlighted by a $41 million transaction with Solar Advocate Development.
The deal covers three community solar projects in New York totaling nearly 17 megawatts.
The company has already pocketed an initial $4 million payment from the deal, with the remainder expected as construction milestones are met through 2026.
Beyond immediate revenue, the company fortified its long-term outlook by achieving "safe-harbor" status for 15 distributed solar and energy storage projects across New York State.