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Visual21 Nov 2025
Data center suppliers
PowerBank (SUNN) investor relations material
PowerBank Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary17 Nov, 2025
Executive summary
Fiscal Q1 2026 revenue reached CAD 19.2 million (USD 19.15 million), up 27% year-over-year, driven by growth in development fees, EPC services, and IPP revenue.
Gross margin improved to 45% (44.62%) from 27% (27.47%) in the prior year quarter, attributed to efficient project management and procurement.
Net income was CAD 1 million (USD 1.01 million), reversing a net loss of CAD 26.5 million (USD 26.49 million) in Q1 2025, due to higher gross profit and absence of impairment charges.
Achieved 106% year-over-year gross profit growth and 145% increase in Adjusted EBITDA.
Major operational milestones include the commissioning of the Getty/Geddes Solar Power Plant, new contracts in New York and Nova Scotia, and progress on Canadian battery storage projects.
Financial highlights
Revenue increased to CAD 19.2 million (USD 19.15 million) from CAD 15.1 million (USD 15.06 million) year-over-year.
Development fee revenue was CAD 3.4 million (USD 3.37 million), up from zero last year.
EPC services revenue rose to CAD 11.9 million, up 1% year-over-year.
IPP revenue grew to CAD 3.8 million (USD 3.85 million), up 18% from the prior year.
Adjusted EBITDA increased to CAD 4.8 million (USD 4.84 million) from CAD 2 million (USD 1.97 million) year-over-year.
Outlook and guidance
Projects totaling 104 MW of solar and 44 MWh of battery storage expected to reach notice to proceed within 12 months.
Focus on expanding the IPP portfolio and advancing development pipelines in both the US and Canada.
Strategic shift toward battery storage development in the US, leveraging favorable incentives through 2036.
Strategy includes project sales to strategic partners to drive revenues.
Continued pursuit of new opportunities in data centers, AI, and crypto treasury strategies.
Pipeline monetization: IPP growth vs. project sales
Cost and availability of project financing
Strategic importance of development fee revenue
What's the strategy for space-based AI data centers?
How will the AI agent improve PowerBank's operations?
Detail the crypto treasury strategy implementation
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Frequently asked questions
SolarBank Corporation operates as an independent renewable and clean energy project developer and asset operator in Canada and the United States. The company engages in the origination, development, financing, engineering, procurement, construction, operation, maintenance, and asset management of solar photovoltaic power generation projects. Their offerings include behind-the-meter solar power plants, grid-connected community solar gardens, and utility-scale solar farms. Additionally, SolarBank is involved in battery energy storage systems and electric vehicle (EV) charging projects. The company is headquartered in Toronto, Ontario, and its shares are listed on the NASDAQ.
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