Liquidity is under pressure as operating cash flow swung from a $26.1 million inflow in 2024Q2 to a $16.4 million outflow in 2026Q3, necessitating frequent reliance on external financing.
| Cash from Operations | -26.61M | -17.26M | 8.48M | 2.39M | 171.21K | -2.68M |
| Operating CF Growth % | -839.64% | -303.42% | 254.88% | 1296.46% | 106.38% | - |
| Operating CF / Revenue % | -68.06% | -41.56% | 14.53% | 13% | 0.93% | -36.55% |
| Net Income | -9.95M | -31.04M | -3.58M | 2.24M | -188.39K | -132.03K |
| Depreciation & Amortization | 4.45M | 5.07M | 409.95K | 49.21K | 25.78K | 9.31K |
| Deferred Taxes | -202.79K | 0 | -49.03K | 0 | 0 | 0 |
| Other Non-Cash Items | 21.86M | 21.85M | 3.69M | 1.24M | 177.44K | 670.95K |
| Working Capital Changes | -17.71M | -15.34M | 7.15M | -4.08M | 156.38K | -3.23M |
| Capital Expenditures | -2.18M | -8.26M | -7.73M | -8.39M | -10.97K | -3.19K |
| CapEx / Revenue % | 27.88% | 19.88% | 0.07% | 45.63% | 0.06% | 0.04% |
| CapEx / D&A | 2.45x | 1.63x | 0.10x | 170.59x | 0.43x | 0.34x |
| CapEx Coverage (OCF/CapEx) | -2.44x | -2.09x | 197.75x | 0.28x | 15.61x | -840.59x |
| Cash from Investing | -9.57M | -4.13M | -4.66M | -8.39M | -10.97K | -3.19K |
| Acquisitions | 371.87K | 9.89M | -94.35K | 0 | 0 | 0 |
| Purchase of Investments | 3.92M | 0 | -4.96M | -9.47M | 0 | 0 |
| Sale of Investments | 641.65K | 0 | 8.13M | 2.2M | 0 | 0 |
| Other Investing | -5.96M | -5.76M | -7.69M | 400 | 0 | 0 |
| Cash from Financing | 23.84M | 23.93M | 727.87K | 5.81M | -679.27K | 2.32M |
| Dividends Paid | -2K | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio % | - | - | - | - | - | - |
| Debt Issuance (Net) | -2M | 1000K | 623.71K | 195.56K | -679.27K | 0 |
| Stock Issued | 16.2M | 0 | 104.16K | 5.61M | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 6.38M | 19.17M | 0 | 0 | 0 | 2.32M |
| Net Change in Cash | -15.46M | 2.35M | 4.52M | -182.55K | -468.1K | -302.12K |
| Exchange Rate Effect | -3.12M | -187K | -30.96K | 13.85K | 50.93K | 62K |
| Cash at Beginning | 15.84M | 5.27M | 749.43K | 931.98K | 1.4M | 1.7M |
| Cash at End | 13.26M | 7.62M | 5.27M | 749.43K | 931.98K | 1.4M |
| Free Cash Flow | -28.79M | -25.52M | 753.43K | -6M | 160.24K | -2.69M |
| FCF Growth % | -52.72% | -3486.53% | 112.55% | -3846.69% | 105.96% | - |
| FCF Margin % | -73.64% | -61.44% | 1.29% | -32.63% | 0.87% | -36.59% |
| FCF / Net Income % | 289.46% | 82.2% | -21.69% | -267.79% | 7.15% | 2035.89% |
Liquidity constraints and project delays
As reported in quarterly filings, SUUN's operating cash flow has exhibited extreme volatility, swinging from a positive $26.1 million in 2024Q2 to a negative $16.4 million in 2026Q3, which underscores the lack of predictable, recurring cash generation typical of a stable regulated utility entity.
The erratic nature of these cash flows suggests that the company's reliance on project-based milestones prevents the establishment of a reliable baseline for covering fixed obligations. Investors should monitor whether the company can transition toward more consistent revenue streams, as the current fluctuations appear to be driven by the timing of project completions rather than steady operational performance.
Based on the provided financial data, the company's capital expenditure of $6.9 million in 2026Q1 relative to its operating cash flow suggests a high intensity of investment that is not currently being matched by proportional cash inflows from the development pipeline.
This aggressive deployment of capital into project development appears to be a primary driver of the firm's cash burn. The disconnect between capital outlays and realized operating cash suggests that the conversion of the development pipeline into revenue-generating assets is facing significant execution hurdles that may require sustained external funding.
According to recent financial statements, SUUN has frequently turned to net stock issuance, including $8.8 million in 2026Q3, to offset its free cash flow deficit, indicating a structural dependence on equity markets to maintain its current development pace and corporate liquidity.
The consistent use of equity financing to bridge the gap between cash burn and operational needs suggests that the company's internal cash generation is insufficient to support its growth ambitions. This reliance on external capital markets may expose shareholders to significant dilution if the company fails to achieve self-sustaining cash flow in the near term.
As indicated by the company's financial disclosures, the cash flow statement masks potential future liabilities related to stalled development projects, which may require significant write-downs or additional capital to resolve given the current negative net margin of 74.74%.
The lack of clarity regarding the ultimate viability of the development pipeline warrants further investigation into whether current cash outflows are effectively de-risking assets or merely sustaining non-performing projects. The market may be underestimating the potential for future impairment charges that could further erode the company's already strained liquidity position.
Quick answers to the most common questions about buying SUUN stock.
PowerBank Corporation (SUUN) generated $-17.3M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
PowerBank Corporation (SUUN) reported negative free cash flow of $25.5M in 2025, indicating capital requirements exceeded cash from operations.
PowerBank Corporation (SUUN) spent $8.3M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.