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Posted On: 02/18/2025 5:26:30 PM
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NetworkNewsBreaks – SolarBank Corp. (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) Reports Q2 Fiscal 2025 Results, Highlights Key Project Developments
Disseminated on behalf of SolarBank Corporation
SolarBank (NASDAQ: SUUN) (CSE: SUNN) reported its fiscal second-quarter results, highlighting a substantial increase in independent power producer (IPP) revenue to $5.4 million from $0.1 million year over year. The company’s gross profit rose to $5.9 million, representing 29.2% of revenues, compared to $4.8 million or 18.4% in the prior year. Adjusted EBITDA reached $2.4 million, up from $0.3 million in 2024, while total assets surged 372% to $185.3 million following the Solar Flow-Through Funds Ltd. acquisition. Despite these gains, the company posted a net loss of $1.9 million, or $0.06 per basic share, compared to a net income of $2.0 million in 2024. Key corporate milestones include a $49.5 million transaction with Qcells for four New York solar projects and a $25.8 million financing deal with Royal Bank of Canada to develop battery energy storage systems.
NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://nnw.fm/SUUN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
Disseminated on behalf of SolarBank Corporation
SolarBank (NASDAQ: SUUN) (CSE: SUNN) reported its fiscal second-quarter results, highlighting a substantial increase in independent power producer (IPP) revenue to $5.4 million from $0.1 million year over year. The company’s gross profit rose to $5.9 million, representing 29.2% of revenues, compared to $4.8 million or 18.4% in the prior year. Adjusted EBITDA reached $2.4 million, up from $0.3 million in 2024, while total assets surged 372% to $185.3 million following the Solar Flow-Through Funds Ltd. acquisition. Despite these gains, the company posted a net loss of $1.9 million, or $0.06 per basic share, compared to a net income of $2.0 million in 2024. Key corporate milestones include a $49.5 million transaction with Qcells for four New York solar projects and a $25.8 million financing deal with Royal Bank of Canada to develop battery energy storage systems.
NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://nnw.fm/SUUN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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