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PowerBank Announces Fiscal Year End Results
PowerBank Corporation (NASDAQ: SUUN; Cboe CA: SUNN, FSE: 103) ("PowerBank" or the "Company), reports results for the fiscal year ended June 30, 2025. All financial figures are in Canadian dollars and in accordance with IFRS Accounting Standards as issued by the IASB as presented in the consolidated financial statements.
About this update from Powerbank Corporation
[{"type":"text","content":"1,508% increase in revenues from IPP production supporting the Company's strategy of generating long-term recurring revenues","length":128,"tagName":"p","attribs":{}},{"type":"text","content":"253% increase in assets fueled by growth of IPP portfolio","length":57,"tagName":"p","attribs":{}},{"type":"text","content":"This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated June 5, 2025 to its short form base shelf prospectus dated May 7, 2025.","length":205,"tagName":"p"},{"type":"text","content":"TORONTO, Oct. 2, 2025 /PRNewswire/ - PowerBank Corporation (NASDAQ: SUUN; Cboe CA: SUNN, FSE: 103) ("PowerBank" or the "Company), reports results for the fiscal year ended June 30, 2025. All financial figures are in Canadian dollars and in accordance with IFRS Accounting Standards as issued by the IASB as presented in the consolidated financial statements.","length":373,"tagName":"p"},{"type":"text","content":"Fiscal Year Highlights (All Amounts are for the Twelve Month Period ended June 30, 2025 ("FY 2025") compared to the Twelve Month Period ended June 30, 2024 ("FY 2024"))","length":188,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Revenues decreased by 29% to $41.5 million in FY 2025 as compared to $58.4 million in FY 2024.","length":99,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"IPP revenues increased by 1,508% to $9.3 million in FY 2025 as compared to $0.6 million in FY 2024.","length":99,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":99,"olType":false}]},{"val":[{"type":"text","content":"Gross margin improved to 25.0% in FY 2025 as compared to 20.0% in FY 2024.","length":79,"tagName":"p"}]},{"val":[{"type":"text","content":"Despite the decrease in revenues, gross profit only decreased by 10.0% to $10.5 million in FY 2025 as compared to $11.7 million in FY 2024.","length":144,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted EBITDA(1) of ($0.68) million in FY 2025 compared to $0.82 million for FY 2024.","length":87,"tagName":"p"}]},{"val":[{"type":"text","content":"Net loss of $31.1 million in FY 2025, or $0.97 per basic share, compared to net loss of $3.6 million in FY 2024, or $0.13 per basic share. The net loss inc...