PowerBank reports second quarter financial results

PowerBank Corporation (NASDAQ: SUUN) reported fiscal year-to-date revenues of $22.3 million and a 36% gross margin for the six-month period ended December 31, 2025, according to a company statement.

The renewable energy company posted a net loss of $6.7 million, or $0.18 per basic share, for the six-month period, compared to a net loss of $28.2 million, or $0.91 per basic share, during the same period in fiscal 2025. Revenues increased to $22.3 million from $19.2 million in the prior-year period.

Cash flow from operating activities showed an inflow of $5.0 million compared to an outflow of $1.1 million in the same period last year. Adjusted EBITDA reached $2.5 million versus $2.3 million in the prior year.

During the quarter, PowerBank announced a $41 million transaction with Solar Advocate Development LLC for the sale and construction of three community solar projects totaling 16.87 MW. The company received an initial payment of $4 million on December 24, 2025.

The company secured safe harbor status for 15 distributed solar and energy storage projects across New York State valued at $168 million in construction value. PowerBank also received $1.47 million from NYSERDA for the 3.79 MW Geddes Solar Project commercial operation payment.

PowerBank ended the second quarter with $35.7 million in current assets, including $20.8 million in cash, restricted cash and short-term investment, compared to $41.3 million in current assets as of June 30, 2025.

The company noted that each EPC agreement with Solar Advocate includes a guarantee provision allowing Solar Advocate to sell projects back to PowerBank within 60 days of December 19, 2025, if not satisfied with due diligence.

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