PowerBank Corporation (PBK) reported revenue of C$27.4 million for the fiscal year ended June 30, 2026, down 34% from C$41.5 million in fiscal 2025. The company attributed the decline primarily to lower development-fee and engineering, procurement and construction (EPC) services revenue.
Net loss narrowed to C$24.3 million from C$31.1 million in the prior year.
In its annual filing, management said the company’s current liquidity and projected cash flows are insufficient to fund operations and obligations for the next 12 months. PowerBank is pursuing new equity financing, debt refinancing and asset sales to address the shortfall.
The company is also shifting its strategy away from development and EPC services toward owning and operating its own power-producing assets.