TinyGemsBreaks – PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) Reports FY 2025 Results, Highlights Transition to Independent Power Producer Model
Disseminated on behalf of PowerBank Corporation PowerBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) reported fiscal 2025 revenue of C$41.5 million, down 29% year over year, while gross margin improved to 25% and IPP revenues surged 1,508% to C$9.3 million. The company posted a net loss of C$31.1 million, largely due to a one-time impairment of C$30.4 million and higher consulting costs tied to its Solar Flow-Through Funds acquisition, but CEO Dr. Richard Lu emphasized FY 2025 as a transitional year, noting progress on scaling retained IPP assets, advancing U.S. solar development under new ITC rules, and expanding Canadian battery…