PowerBank Posts C$22.3M H1 Revenues and 36% Gross Margin With $41M Solar Deal
PowerBank reported fiscal first half revenues of C$22.3 million with a 36% gross margin and adjusted EBITDA of C$2.5 million, reducing its net loss to C$6.7 million from C$28.2 million a year earlier. Operating cash flow swung to a C$5.0 million inflow, driven by higher development fees and EPC service revenues.
1. Fiscal Half-Year Financial Results
For the six months ended December 31, 2025, PowerBank achieved C$22.3 million in revenues, up from C$19.2 million year-on-year, with gross profit rising to C$8.1 million (36% margin). Adjusted EBITDA increased to C$2.5 million while net loss narrowed to C$6.7 million (C$0.18 per share) and operating cash flow turned positive at C$5.0 million.
2. Major Solar Project Transactions
PowerBank secured a USD 41 million deal with Solar Advocate Development for three community solar projects totaling 16.87 MW, receiving the initial USD 4 million payment. The company also attained safe harbor status for 15 distributed solar and storage projects valued at USD 168 million, representing 67 MW DC solar and 11 MWh storage capacity, bolstering its near-term revenue pipeline.
3. Strategic Technology Collaborations
The company invested USD 500,000 in Orbit AI's ‘Orbital Cloud’ initiative, deploying solar-powered AI compute and blockchain infrastructure in Low Earth Orbit. Additionally, a beta partnership with Intellistake Technologies was launched to deploy IntelliScope AI analytics for renewable energy development, enhancing site optimization and grant evaluation capabilities.