PowerBank Corporation Reports Fiscal 2026 Results: Revenue Down, Gross Margin Up

PowerBank Corporation (NASDAQ: PBK, Cboe CA: PBK, FSE: 103) has released its financial results for the fiscal year ended June 30, 2026. The company reported revenues of $27.4 million, a decrease from $41.5 million in the fiscal year 2025. However, the gross margin saw a significant improvement, expanding to 34.7% from 25.3% in the previous year, resulting in a gross profit of $9.5 million.

The company reported a narrowed net loss of $24.3 million, or $0.58 per basic share, compared to a net loss of $31.1 million, or $0.97 per basic share, in fiscal year 2025. Operating cash flow showed an outflow of $12.8 million, an improvement from the $17.3 million outflow in the prior year. PowerBank stated that its working capital improved from a deficit of $1.8 million to a positive $1.6 million.

During the fiscal year, PowerBank brought several energy projects into commercial operation, including the SFF 06 battery storage project in Ontario. The company also announced three new battery energy storage system projects in New York State and the commercial operation of community solar projects totaling 21 MW. Additionally, PowerBank secured a contract with the U.S. Department of Defense for a solar project.

"Fiscal 2026 was the year PowerBank's financial transformation took hold," said CEO Richard Lu. "While revenue declined as we shifted from selling projects toward owning them, gross margin expanded, net loss narrowed, and we moved from negative working capital to positive. We expect revenue to return to growth in Fiscal 2027."