SolarBank Income Statement

Financials in millions CAD. Fiscal year is July - June.

Millions CAD. Fiscal year is Jul - Jun.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '25 Mar 31, 2025	Jun '24 Jun 30, 2024	Jun '23 Jun 30, 2023	Jun '22 Jun 30, 2022	Jun '21 Jun 30, 2021
Operating Revenue	37.08	58.38	18.4	10.2	7.35
Other Revenue	-	-	-	-	-0
Revenue	37.08	58.38	18.4	10.2	7.35
Revenue Growth (YoY)	-37.83%	217.31%	80.41%	38.81%	-
Cost of Revenue	30	46.84	13.88	8.23	4.83
Gross Profit	7.08	11.54	4.52	1.97	2.51
Selling, General & Admin	15.39	10.19	4.1	2.3	2.36
Operating Expenses	15.69	11.13	7.09	2.33	2.58
Operating Income	-8.61	0.41	-2.57	-0.36	-0.07
Interest Expense	-2.66	-0.42	-0.13	-0.15	-0.33
Interest & Investment Income	0.49	0.32	0.13	-	-
Currency Exchange Gain (Loss)	-0	0.15	0.01	-0.01	-
Other Non Operating Income (Expenses)	-0.34	4.13	6.48	0.08	0.29
EBT Excluding Unusual Items	-11.12	4.59	3.92	-0.44	-0.11
Impairment of Goodwill	-4.1	-4.1	-	-	-
Gain (Loss) on Sale of Investments	-1.12	-1.12	-	-	-
Other Unusual Items	-0.2	-	-0.72	0.13	-
Pretax Income	-15.2	-0.63	3.19	-0.31	-0.11
Income Tax Expense	2.93	2.95	0.95	-0.12	0.05
Earnings From Continuing Operations	-18.13	-3.58	2.24	-0.19	-0.16
Minority Interest in Earnings	3.02	0.1	-	-	0.03
Net Income	-15.11	-3.47	2.24	-0.19	-0.13
Net Income to Common	-15.11	-3.47	2.24	-0.19	-0.13
Shares Outstanding (Basic)	30	27	20	16	16
Shares Outstanding (Diluted)	30	27	37	16	16
Shares Change (YoY)	-21.06%	-27.38%	132.71%	-	-
EPS (Basic)	-0.50	-0.13	0.11	-0.01	-0.01
EPS (Diluted)	-0.50	-0.13	0.06	-0.01	-0.01
Free Cash Flow	-18.85	0.75	1.27	0.16	-2.69
Free Cash Flow Per Share	-0.63	0.03	0.03	0.01	-0.17
Gross Margin	19.10%	19.77%	24.56%	19.28%	34.22%
Operating Margin	-23.21%	0.70%	-13.99%	-3.54%	-0.92%
Profit Margin	-40.75%	-5.95%	12.19%	-1.85%	-1.80%
Free Cash Flow Margin	-50.84%	1.29%	6.89%	1.57%	-36.59%
EBITDA	-4.41	0.69	-2.57	-0.33	-0.06
EBITDA Margin	-11.88%	1.19%	-13.95%	-3.28%	-0.79%
D&A For EBITDA	4.2	0.29	0.01	0.03	0.01
EBIT	-8.61	0.41	-2.57	-0.36	-0.07
EBIT Margin	-23.21%	0.70%	-13.99%	-3.54%	-0.92%
Effective Tax Rate	-	-	29.79%	-	-
Revenue as Reported	37.08	58.38	18.4	10.2	7.35
Advertising Expenses	-	4.09	0.28	0.01	0

Updated Feb 14, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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