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PPSI Earnings: Pioneer Power Solutions Stock Surges 55% on Q2 Results

Business Insider

2 days ago

Business
Business Insider

PPSI Earnings: Pioneer Power Solutions Stock Surges 55% on Q2 Results

Pioneer Power Solutions (PPSI) stock took off on Friday following the release of the electrical power solutions company's Q2 2025 earnings report. It reported revenue of $8.4 million, which was well above the $6.89 million that Wall Street expected. The company's revenue also represented a 147% increase year-over-year from $3.4 million. This strong revenue growth was attributed to increased sales of the company's e-Boost mobile electric vehicle (EV) charging solutions. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Nathan Mazurek, Chairman and CEO of Pioneer Power Solutions, said, 'Demand for Pioneer's solutions remains strong, driven by targeted marketing and sales efforts focused on segments actively investing in electrification. We are engaging directly with state and local fleet operators, school districts, key robotaxi service providers and other organizations that are not just planning for an electric future but deploying capital to make it real.' Pioneer Power Solutions stock was up 54.66% in pre-market trading on Friday, following a 4.01% dip yesterday. Traders will note the stock has fallen 24.7% year-to-date and 30.58% over the past 12 months. Today's earnings brought heavy trading to PPSI stock, as some 35 million shares changed hands, compared to a three-month daily average of about 58,000 units. Pioneer Power Solutions Guidance Pioneer Power Solutions reaffirmed its revenue outlook for 2025 in its latest earnings report. The company expects revenue for the year to range from $27 million to $29 million. With a midpoint of $28 million, this should surpass Wall Street's revenue estimate of $27.82 million for 2025. Is Pioneer Power Solutions Stock a Buy, Sell, or Hold? Turning to Wall Street, the analysts' consensus rating for Pioneer Power Solutions is Moderate Buy, based on two Buy and one Sell rating over the past three months. With that comes an average PPSI stock price target of $8.17, representing a potential 162.70% upside for the shares. These ratings and price targets will likely change as analysts update their coverage following today's earnings report.

Pioneer Power Announces Financial Results for First Quarter 2025

Yahoo

15-05-2025

Business
Yahoo

Pioneer Power Announces Financial Results for First Quarter 2025

Revenue Growth of 103% to $6.7 million Reaffirms Full-Year 2025 Revenue Guidance of $27 million to $29 Million Management to Host Conference Call at 4:30 pm ET on Monday, May 19, 2025 FORT LEE, N.J., May 15, 2025--(BUSINESS WIRE)--Pioneer Power Solutions, Inc. (Nasdaq: PPSI) ("Pioneer" or the "Company"), a leader in the design, manufacture, service and integration of distributed energy resources, power generation equipment and mobile electric vehicle ("EV") charging solutions, today announced its final financial results for the first quarter ended March 31, 2025. The Company also announced that management is reaffirming revenue guidance for the full year 2025 of $27 to $29 million, which represents year-over-year growth of approximately 20%. Q1 2025 Financial Highlights Revenue was $6.7 million, compared to $3.3 million for the same quarter in 2024, an increase of $3.4 million, or 103%. Gross profit was $0.1 million, or a gross margin of 2.2%, as compared to $0.5 million, or a gross margin of 16.1%, for the same quarter in 2024. Operating loss from continuing operations was $(2.3) million, as compared to $(1.7) million for the same quarter in 2024, a year-over-year increase of $0.6 million. Non–GAAP operating loss* from continuing operations, which excludes corporate overhead expenses, research and development expenses and non-recurring professional fees, was $(1.0) million, as compared to $(0.3) million for the same quarter in 2024. Net loss was $(0.9) million, inclusive of income from discontinued operations of $1.1 million, as compared to a net loss of $(1.0) million, inclusive of income from discontinued operations of $0.6 million, in the year ago quarter. *A reconciliation between GAAP and non-GAAP measures is provided below. The non-GAAP measures should not be considered an alternative to GAAP measures as an indicator of the Company's operating performance. Nathan Mazurek, Chairman and CEO of Pioneer, commented, "We are off to a strong start in 2025 with revenue more than doubling in the first quarter compared to the same period last year. This growth reflects continued robust demand for our on-site power solutions, particularly our e-Boost mobile charging platform, and underscores the significant opportunities we have to scale our business. "While gross profit and margin declined in the quarter, this was primarily driven by the completion of a few initial lower-margin units that are part of a much larger order. The first units in the order carried higher costs due to the early stage of production as we focused on optimizing our build process and improving manufacturing efficiency. We expect gross profit and margins to improve as we move through the production cycle and benefit from increased scale." "Importantly, rising demand for on-site power and mobile off-grid charging solutions for commercial fleets with increasing investment in clean energy infrastructure, are driving strong momentum in the markets we serve. To meet this demand, we are expanding our product line to serve not only our commercial and industrial customers but also the high-end residential and light commercial segments. With favorable market conditions and a differentiated offering, we are confident in our ability to continue to grow and deliver long-term value. Overall, we remain confident in our outlook and our ability to capitalize on the strong demand for reliable, mobile and sustainable power solutions." First Quarter 2025 Financial Results Revenue Revenue for the three months ended March 31, 2025, was $6.7 million, an increase of 103%, as compared to $3.3 million during the first quarter of last year primarily due to an increase in sales and rentals of the Company's suite of mobile EV charging solutions, e-Boost. Gross Profit/Margin Gross profit for the first quarter of 2025 was $0.1 million, or a 2.2% gross margin, compared to gross profit of $0.5 million, or a 16.1% gross margin, for the same period in 2024. The decrease in gross profit and margin was primarily attributable to a large contract with one customer in our Pioneer eMobility business, which generated lower margins on the initial units due to higher costs incurred during the early stages of production as we refined our manufacturing processes and optimized build efficiency. Operating Loss from Continuing Operations For the three months ended March 31, 2025, operating loss from continuing operations was $(2.3) million as compared to $(1.7) million during the first quarter of 2024. The increase in operating loss from continuing operations of $0.6 million, or 35.9%, is primarily due to the decrease in our gross profit and an increase in selling, general and administrative expense. Net Loss from Continuing Operations The Company's net loss from continuing operations was $(2.1) million for the three months ended March 31, 2025, as compared to $(1.7) million during the three months ended March 31, 2024, an increase of $0.4 million, or 25.4%. Net Loss Net loss was $(0.9) million, inclusive of income from discontinued operations of $1.1 million, as compared to a net loss of $(1.0) million, inclusive of income from discontinued operations of $0.6 million, in the first quarter of last year. Balance Sheet As of March 31, 2025, the Company had $25.8 million of cash on hand and working capital of $26.2 million, compared to $41.6 million of cash on hand and working capital of $26.7 million as of December 31, 2024. The decrease in cash on hand is primarily due the payment of a one-time special cash dividend of an aggregate of $16.7 million on January 7, 2025. The Company had no bank debt as of March 31, 2025. 2025 Outlook Management reiterates its expectation for revenue of $27 million to $29 million for the full year of 2025. The revenue projection for 2025 assumes no contribution from Pioneer's new HOMe-Boost solution. The foregoing projected outlook constitutes forward-looking information and is intended to provide information about management's current expectations for the Company's 2025 fiscal year. Although considered reasonable as of the date hereof, this outlook, and the underlying assumptions may prove to be inaccurate. Accordingly, actual results could differ materially from the Company's expectations as set forth herein. See "Forward-Looking Statements." In preparing the above outlook, the Company assumed, among other things, (i) that the Company's backlog orders will translate into revenue, (ii) that the Company will be able to satisfactorily complete and deliver all orders and (iii) the timely payment by customers for all billings. This section includes forward-looking statements. See "Forward-Looking Statements." Earnings Conference Call: Management will host a conference call Monday, May 19, 2025, at 4:30 p.m. Eastern Time to discuss Pioneer's 2025 first quarter financial results with the investment community. Anyone interested in participating should call 1-877-407-0789 if calling within the United States or 1-201-689-8562 if calling internationally. When asked, please reference confirmation code 13753781. A replay will be available until May 26, 2025, which can be accessed by dialing 1-844-512-2921 if calling within the United States or 1-412-317-6671 if calling internationally. Please use passcode 13753781 to access the replay. The call will also be accompanied live by webcast over the Internet and accessible at Non-GAAP Measures In addition to disclosing financial results in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"), this document references certain non-GAAP financial measures. The Company defines non-GAAP operating income (loss) from continuing operations as GAAP operating income (loss) from continuing operations excluding corporate overhead expenses, research and development expenses, and non-recurring professional fees. We believe these non-GAAP financial measures provide investors with useful supplemental information about our operating performance and enable comparison of financial trends and results between periods where certain items may vary, independent of business performance. The Company's management uses non-GAAP operating income (loss) from continuing operations (a) as a measure of operating performance, (b) for planning and forecasting in future periods, and (c) in communications with the Company's board of directors concerning the Company's financial performance. The Company's presentation of this non-GAAP measure is not necessarily comparable to other similarly titled captions of other companies due to different methods of calculation and should not be used by investors as a substitute or alternative to any measure of financial performance calculated and presented in accordance with U.S. GAAP. Instead, management believes this non-GAAP measure should be used to supplement the Company's financial measures derived in accordance with U.S. GAAP in order to provide a more complete understanding of the trends affecting the business. Please refer to "Reconciliation of Non-GAAP Measures" in this document for a detailed explanation of the adjustments made to the comparable U.S. GAAP measures. About Pioneer Power Solutions, Inc. Pioneer Power Solutions, Inc. is a leader in the design, manufacture, integration, service of distributed energy resources, power generation equipment and mobile electric charging solutions for applications in the utility, industrial and commercial markets. To learn more about Pioneer, please visit its website at e-Boost is Pioneer's portfolio of smart, mobile EV charging solutions. The Company has been aggressively marketing e-Boost to electric bus and truck manufacturers, fleet management companies, municipalities and EV infrastructure providers since its initial launch in November 2021. Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of the federal securities laws. Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the Company's ability to successfully operate its business after the divestiture of its E-Bloc business, (ii) the Company's ability to successfully increase its revenue and profit in the future, (iii) general economic conditions and their effect on demand for electrical equipment, (iv) the effects of fluctuations in the Company's operating results, (v) the fact that many of the Company's competitors are better established and have significantly greater resources than the Company, (vi) the Company's dependence on two customers for a large portion of its business, (vii) the potential loss or departure of key personnel, (viii) unanticipated increases in raw material prices or disruptions in supply, (ix) the Company's ability to realize revenue reported in the Company's backlog, (x) future labor disputes, (xi) changes in government regulations, (xii) the liquidity and trading volume of the Company's common stock, (xiii) an outbreak of disease, epidemic or pandemic, such as the global coronavirus pandemic, or fear of such an event, (xiv) risks associated with litigation and claims, which could impact our financial results and condition, and (xv) the Company's ability to maintain compliance with the continued listing requirements of the Nasdaq Capital Market. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the U.S. Securities and Exchange Commission ("SEC"), including the Company's Annual and Quarterly Reports on Form 10-K and Form 10-Q, respectively. Investors and security holders are urged to read these documents free of charge on the SEC's web site at The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise. -- Tables Follow -- PIONEER POWER SOLUTIONS, INC. Condensed Consolidated Statements of Operations (In thousands, except for share and per share amounts) (Unaudited) For the Three Months Ended March 31, 2025 2024 Revenues $ 6,740 $ 3,315 Cost of goods sold 6,592 2,780 Gross profit 148 535 Operating expenses Selling, general and administrative 2,414 2,050 Research and development 80 211 Total operating expenses 2,494 2,261 Operating loss from continuing operations (2,346 ) (1,726 ) Interest income, net 247 31 Other income, net 23 40 Loss before income taxes (2,076 ) (1,655 ) Income tax benefit - - Net loss from continuing operations (2,076 ) (1,655 ) Income from discontinued operations, net of income taxes 1,147 620 Net loss $ (929 ) $ (1,035 ) Basic (loss) earnings per share: Loss from continuing operations $ (0.19 ) $ (0.16 ) Earnings from discontinued operations 0.10 0.06 Basic loss per share $ (0.09 ) $ (0.10 ) Diluted (loss) earnings per share: Loss from continuing operations $ (0.19 ) $ (0.16 ) Earnings from discontinued operations 0.10 0.06 Diluted loss per share $ (0.09 ) $ (0.10 ) Weighted average common shares outstanding: Basic 11,120,266 10,112,310 Diluted 11,187,484 10,343,236 PIONEER POWER SOLUTIONS, INC. Condensed Consolidated Balance Sheets (In thousands, except for share amounts) (Unaudited) March 31, December 31, 2025 2024 ASSETS Current assets Cash $ 25,840 $ 41,622 Accounts receivable, net of allowance for credit losses of $14 and $13 as of March 31, 2025 and December 31, 2024, respectively 5,345 7,826 Inventories 6,456 6,068 Prepaid expenses and other current assets 985 1,141 Total current assets 38,626 56,657 Property and equipment, net 6,193 6,503 Operating lease right-of-use assets 472 530 Financing lease right-of-use assets 198 221 Investments 1,943 2,000 Other assets 44 40 Total assets $ 47,476 $ 65,951 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued liabilities $ 4,720 $ 4,543 Current portion of operating lease liabilities 223 244 Current portion of financing lease liabilities 107 109 Deferred revenue 1,146 991 Consideration due to buyer 2,200 3,347 Income taxes payable 4,079 4,079 Dividend payable - 16,665 Total current liabilities 12,475 29,978 Operating lease liabilities, non-current portion 262 301 Financing lease liabilities, non-current portion 99 121 Other long-term liabilities 127 122 Total liabilities 12,963 30,522 Stockholders' equity Preferred stock, $0.001 par value, 5,000,000 shares authorized; none issued - - Common stock, $0.001 par value, 30,000,000 shares authorized; 11,120,266 shares issued and outstanding on March 31, 2025, and December 31, 2024 11 11 Additional paid-in capital 35,431 35,418 Accumulated deficit (929) - Total stockholders' equity 34,513 35,429 Total liabilities and stockholders' equity $ 47,476 $ 65,951 PIONEER POWER SOLUTIONS, INC. Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited) For the Three Months Ended March 31, 2025 2024 Operating activities Net loss $ (929 ) $ (1,035 ) Adjustments to reconcile net loss to net cash provided by/ (used in) operating activities: Depreciation 258 122 Amortization of right-of-use financing leases 23 32 Amortization of right-of-use operating leases 58 179 Change in allowance for credit losses 2 49 Stock-based compensation 13 225 Loss attributable to equity method investee 57 - Loss on disposal of property and equipment 29 - Gain on change in consideration due to buyer (1,147 ) - Changes in current operating assets and liabilities: Accounts receivable 2,479 (2,235 ) Inventories 32 (2,011 ) Prepaid expenses and other assets 424 217 Accounts payable, accrued liabilities and other liabilities 103 (296 ) Deferred revenue 155 2,989 Operating lease liabilities (55 ) (186 ) Net cash provided by/ (used in) operating activities 1,502 (1,950 ) Investing activities Purchase of property and equipment (595 ) (213 ) Net cash used in investing activities (595 ) (213 ) Financing activities Net proceeds from issuance of common stock - 4,841 Payment of cash dividend (16,665 ) - Principal repayments of financing leases (24 ) (33 ) Net cash (used in)/ provided by financing activities (16,689 ) 4,808 (Decrease) increase in cash (15,782 ) 2,645 Cash Cash, beginning of year 41,622 3,582 Cash, end of year $ 25,840 $ 6,227 Supplemental cash flow information: Interest paid $ - $ 9 Non-cash investing and financing activities: Transfer from property and equipment to inventory (420 ) - Property and equipment obtained in exchange for accounts payable 74 - PIONEER POWER SOLUTIONS, INC. Reconciliation of Non-GAAP Measures (In thousands) (Unaudited) For the Three Months Ended March 31, 2025 2024 GAAP operating loss from continuing operations $ (2,346 ) $ (1,725 ) Corporate overhead expenses 1,184 1,165 Research and development expenses 80 211 Non-recurring professional fees 93 30 Non-GAAP operating loss from continuing operations $ (989 ) $ (319 ) View source version on Contacts Brett Maas, Managing PartnerHayden IR(646) 536-7331brett@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Business Wire

15-05-2025

Business
Business Wire

Pioneer Power Announces Financial Results for First Quarter 2025

FORT LEE, N.J.--(BUSINESS WIRE)-- Pioneer Power Solutions, Inc. (Nasdaq: PPSI) ('Pioneer' or the 'Company'), a leader in the design, manufacture, service and integration of distributed energy resources, power generation equipment and mobile electric vehicle ('EV') charging solutions, today announced its final financial results for the first quarter ended March 31, 2025. The Company also announced that management is reaffirming revenue guidance for the full year 2025 of $27 to $29 million, which represents year-over-year growth of approximately 20%. Q1 2025 Financial Highlights Revenue was $6.7 million, compared to $3.3 million for the same quarter in 2024, an increase of $3.4 million, or 103%. Gross profit was $0.1 million, or a gross margin of 2.2%, as compared to $0.5 million, or a gross margin of 16.1%, for the same quarter in 2024. Operating loss from continuing operations was $(2.3) million, as compared to $(1.7) million for the same quarter in 2024, a year-over-year increase of $0.6 million. Non–GAAP operating loss* from continuing operations, which excludes corporate overhead expenses, research and development expenses and non-recurring professional fees, was $(1.0) million, as compared to $(0.3) million for the same quarter in 2024. Net loss was $(0.9) million, inclusive of income from discontinued operations of $1.1 million, as compared to a net loss of $(1.0) million, inclusive of income from discontinued operations of $0.6 million, in the year ago quarter. *A reconciliation between GAAP and non-GAAP measures is provided below. The non-GAAP measures should not be considered an alternative to GAAP measures as an indicator of the Company's operating performance. Nathan Mazurek, Chairman and CEO of Pioneer, commented, 'We are off to a strong start in 2025 with revenue more than doubling in the first quarter compared to the same period last year. This growth reflects continued robust demand for our on-site power solutions, particularly our e-Boost mobile charging platform, and underscores the significant opportunities we have to scale our business. 'While gross profit and margin declined in the quarter, this was primarily driven by the completion of a few initial lower-margin units that are part of a much larger order. The first units in the order carried higher costs due to the early stage of production as we focused on optimizing our build process and improving manufacturing efficiency. We expect gross profit and margins to improve as we move through the production cycle and benefit from increased scale.' 'Importantly, rising demand for on-site power and mobile off-grid charging solutions for commercial fleets with increasing investment in clean energy infrastructure, are driving strong momentum in the markets we serve. To meet this demand, we are expanding our product line to serve not only our commercial and industrial customers but also the high-end residential and light commercial segments. With favorable market conditions and a differentiated offering, we are confident in our ability to continue to grow and deliver long-term value. Overall, we remain confident in our outlook and our ability to capitalize on the strong demand for reliable, mobile and sustainable power solutions.' First Quarter 2025 Financial Results Revenue Revenue for the three months ended March 31, 2025, was $6.7 million, an increase of 103%, as compared to $3.3 million during the first quarter of last year primarily due to an increase in sales and rentals of the Company's suite of mobile EV charging solutions, e-Boost. Gross Profit/Margin Gross profit for the first quarter of 2025 was $0.1 million, or a 2.2% gross margin, compared to gross profit of $0.5 million, or a 16.1% gross margin, for the same period in 2024. The decrease in gross profit and margin was primarily attributable to a large contract with one customer in our Pioneer eMobility business, which generated lower margins on the initial units due to higher costs incurred during the early stages of production as we refined our manufacturing processes and optimized build efficiency. Operating Loss from Continuing Operations For the three months ended March 31, 2025, operating loss from continuing operations was $(2.3) million as compared to $(1.7) million during the first quarter of 2024. The increase in operating loss from continuing operations of $0.6 million, or 35.9%, is primarily due to the decrease in our gross profit and an increase in selling, general and administrative expense. Net Loss from Continuing Operations The Company's net loss from continuing operations was $(2.1) million for the three months ended March 31, 2025, as compared to $(1.7) million during the three months ended March 31, 2024, an increase of $0.4 million, or 25.4%. Net Loss Net loss was $(0.9) million, inclusive of income from discontinued operations of $1.1 million, as compared to a net loss of $(1.0) million, inclusive of income from discontinued operations of $0.6 million, in the first quarter of last year. Balance Sheet As of March 31, 2025, the Company had $25.8 million of cash on hand and working capital of $26.2 million, compared to $41.6 million of cash on hand and working capital of $26.7 million as of December 31, 2024. The decrease in cash on hand is primarily due the payment of a one-time special cash dividend of an aggregate of $16.7 million on January 7, 2025. The Company had no bank debt as of March 31, 2025. 2025 Outlook Management reiterates its expectation for revenue of $27 million to $29 million for the full year of 2025. The revenue projection for 2025 assumes no contribution from Pioneer's new HOMe-Boost solution. The foregoing projected outlook constitutes forward-looking information and is intended to provide information about management's current expectations for the Company's 2025 fiscal year. Although considered reasonable as of the date hereof, this outlook, and the underlying assumptions may prove to be inaccurate. Accordingly, actual results could differ materially from the Company's expectations as set forth herein. See 'Forward-Looking Statements.' In preparing the above outlook, the Company assumed, among other things, (i) that the Company's backlog orders will translate into revenue, (ii) that the Company will be able to satisfactorily complete and deliver all orders and (iii) the timely payment by customers for all billings. This section includes forward-looking statements. See 'Forward-Looking Statements.' Earnings Conference Call: Management will host a conference call Monday, May 19, 2025, at 4:30 p.m. Eastern Time to discuss Pioneer's 2025 first quarter financial results with the investment community. Anyone interested in participating should call 1-877-407-0789 if calling within the United States or 1-201-689-8562 if calling internationally. When asked, please reference confirmation code 13753781. A replay will be available until May 26, 2025, which can be accessed by dialing 1-844-512-2921 if calling within the United States or 1-412-317-6671 if calling internationally. Please use passcode 13753781 to access the replay. The call will also be accompanied live by webcast over the Internet and accessible at Non-GAAP Measures In addition to disclosing financial results in accordance with accounting principles generally accepted in the United States of America ('U.S. GAAP'), this document references certain non-GAAP financial measures. The Company defines non-GAAP operating income (loss) from continuing operations as GAAP operating income (loss) from continuing operations excluding corporate overhead expenses, research and development expenses, and non-recurring professional fees. We believe these non-GAAP financial measures provide investors with useful supplemental information about our operating performance and enable comparison of financial trends and results between periods where certain items may vary, independent of business performance. The Company's management uses non-GAAP operating income (loss) from continuing operations (a) as a measure of operating performance, (b) for planning and forecasting in future periods, and (c) in communications with the Company's board of directors concerning the Company's financial performance. The Company's presentation of this non-GAAP measure is not necessarily comparable to other similarly titled captions of other companies due to different methods of calculation and should not be used by investors as a substitute or alternative to any measure of financial performance calculated and presented in accordance with U.S. GAAP. Instead, management believes this non-GAAP measure should be used to supplement the Company's financial measures derived in accordance with U.S. GAAP in order to provide a more complete understanding of the trends affecting the business. Please refer to "Reconciliation of Non-GAAP Measures" in this document for a detailed explanation of the adjustments made to the comparable U.S. GAAP measures. About Pioneer Power Solutions, Inc. Pioneer Power Solutions, Inc. is a leader in the design, manufacture, integration, service of distributed energy resources, power generation equipment and mobile electric charging solutions for applications in the utility, industrial and commercial markets. To learn more about Pioneer, please visit its website at e-Boost is Pioneer's portfolio of smart, mobile EV charging solutions. The Company has been aggressively marketing e-Boost to electric bus and truck manufacturers, fleet management companies, municipalities and EV infrastructure providers since its initial launch in November 2021. Forward-Looking Statements: This press release contains 'forward-looking statements' within the meaning of the federal securities laws. Such statements may be preceded by the words 'intends,' 'may,' 'will,' 'plans,' 'expects,' 'anticipates,' 'projects,' 'predicts,' 'estimates,' 'aims,' 'believes,' 'hopes,' 'potential' or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the Company's ability to successfully operate its business after the divestiture of its E-Bloc business, (ii) the Company's ability to successfully increase its revenue and profit in the future, (iii) general economic conditions and their effect on demand for electrical equipment, (iv) the effects of fluctuations in the Company's operating results, (v) the fact that many of the Company's competitors are better established and have significantly greater resources than the Company, (vi) the Company's dependence on two customers for a large portion of its business, (vii) the potential loss or departure of key personnel, (viii) unanticipated increases in raw material prices or disruptions in supply, (ix) the Company's ability to realize revenue reported in the Company's backlog, (x) future labor disputes, (xi) changes in government regulations, (xii) the liquidity and trading volume of the Company's common stock, (xiii) an outbreak of disease, epidemic or pandemic, such as the global coronavirus pandemic, or fear of such an event, (xiv) risks associated with litigation and claims, which could impact our financial results and condition, and (xv) the Company's ability to maintain compliance with the continued listing requirements of the Nasdaq Capital Market. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the U.S. Securities and Exchange Commission ('SEC'), including the Company's Annual and Quarterly Reports on Form 10-K and Form 10-Q, respectively. Investors and security holders are urged to read these documents free of charge on the SEC's web site at The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise. -- Tables Follow -- PIONEER POWER SOLUTIONS, INC. Condensed Consolidated Balance Sheets (In thousands, except for share amounts) (Unaudited) March 31, 2025 2024 ASSETS Current assets Cash $ 25,840 $ 41,622 Accounts receivable, net of allowance for credit losses of $14 and $13 as of March 31, 2025 and December 31, 2024, respectively 5,345 7,826 Inventories 6,456 6,068 Prepaid expenses and other current assets 985 1,141 Total current assets 38,626 56,657 Property and equipment, net 6,193 6,503 Operating lease right-of-use assets 472 530 Financing lease right-of-use assets 198 221 Investments 1,943 2,000 Other assets 44 40 Total assets $ 47,476 $ 65,951 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued liabilities $ 4,720 $ 4,543 Current portion of operating lease liabilities 223 244 Current portion of financing lease liabilities 107 109 Deferred revenue 1,146 991 Consideration due to buyer 2,200 3,347 Income taxes payable 4,079 4,079 Dividend payable - 16,665 Total current liabilities 12,475 29,978 Operating lease liabilities, non-current portion 262 301 Financing lease liabilities, non-current portion 99 121 Other long-term liabilities 127 122 Total liabilities 12,963 30,522 Stockholders' equity Preferred stock, $0.001 par value, 5,000,000 shares authorized; none issued - - Common stock, $0.001 par value, 30,000,000 shares authorized; 11,120,266 shares issued and outstanding on March 31, 2025, and December 31, 2024 11 11 Additional paid-in capital 35,431 35,418 Accumulated deficit (929) - Total stockholders' equity 34,513 35,429 Total liabilities and stockholders' equity $ 47,476 $ 65,951 Expand PIONEER POWER SOLUTIONS, INC. Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited) For the Three Months Ended March 31, 2025 2024 Operating activities Net loss $ (929 ) $ (1,035 ) Adjustments to reconcile net loss to net cash provided by/ (used in) operating activities: Depreciation 258 122 Amortization of right-of-use financing leases 23 32 Amortization of right-of-use operating leases 58 179 Change in allowance for credit losses 2 49 Stock-based compensation 13 225 Loss attributable to equity method investee 57 - Loss on disposal of property and equipment 29 - Gain on change in consideration due to buyer (1,147 ) - Changes in current operating assets and liabilities: Accounts receivable 2,479 (2,235 ) Inventories 32 (2,011 ) Prepaid expenses and other assets 424 217 Accounts payable, accrued liabilities and other liabilities 103 (296 ) Deferred revenue 155 2,989 Operating lease liabilities (55 ) (186 ) Net cash provided by/ (used in) operating activities 1,502 (1,950 ) Investing activities Purchase of property and equipment (595 ) (213 ) Net cash used in investing activities (595 ) (213 ) Financing activities Net proceeds from issuance of common stock - 4,841 Payment of cash dividend (16,665 ) - Principal repayments of financing leases (24 ) (33 ) Net cash (used in)/ provided by financing activities (16,689 ) 4,808 (Decrease) increase in cash (15,782 ) 2,645 Cash Cash, beginning of year 41,622 3,582 Cash, end of year $ 25,840 $ 6,227 Supplemental cash flow information: Interest paid $ - $ 9 Non-cash investing and financing activities: Transfer from property and equipment to inventory (420 ) - Property and equipment obtained in exchange for accounts payable 74 - Expand PIONEER POWER SOLUTIONS, INC. Reconciliation of Non-GAAP Measures (In thousands) (Unaudited) For the Three Months Ended March 31, 2025 2024 GAAP operating loss from continuing operations $ (2,346 ) $ (1,725 ) Corporate overhead expenses 1,184 1,165 Research and development expenses 80 211 Non-recurring professional fees 93 30 Non-GAAP operating loss from continuing operations $ (989 ) $ (319 ) Expand

Business Wire

09-05-2025

Automotive
Business Wire

Pioneer Power to Host 2025 First Quarter Financial Results Conference Call on Monday, May 19, 2025 at 4:30 p.m. ET

FORT LEE, N.J.--(BUSINESS WIRE)--Pioneer Power Solutions, Inc. (Nasdaq: PPSI) ("Pioneer"), a leader in the design, manufacture, service and integration of distributed energy resources, power generation equipment and mobile electric vehicle ('EV') charging solutions, today announced that management will host a conference call on Monday, May 19, 2025 at 4:30 p.m. Eastern Time to discuss Pioneer's 2025 first quarter financial results with the investment community. The company will release results for the first quarter ended March 31, 2025 on Thursday, May 15, 2025 after the markets close. Anyone interested in participating should call 1-877-407-0789 if calling within the United States or 1-201-689-8562 if calling internationally. When asked, please reference confirmation code 13753781. A replay will be available until May 26, 2025, which can be accessed by dialing 1-844-512-2921 if calling within the United States or 1-412-317-6671 if calling internationally. Please use passcode 13753781 to access the replay. The call will also be accompanied live by webcast over the Internet and accessible at About Pioneer Power Solutions, Inc. Pioneer Power Solutions, Inc. is a leader in the design, manufacture, integration, service and distribution of distributed energy resources, power generation equipment and mobile electric charging solutions for applications in the utility, industrial and commercial markets. To learn more about Pioneer, please visit its website at e-Boost is Pioneer's portfolio of smart, mobile EV charging solutions. The Company has been aggressively marketing e-Boost to electric bus and truck manufacturers, fleet management companies, municipalities and EV infrastructure providers since its initial launch in November 2021.

Business Wire

22-04-2025

Automotive
Business Wire

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Pioneer Power to Host 2025 First Quarter Financial Results Conference Call on Monday, May 19, 2025 at 4:30 p.m. ET

Pioneer Power to Present at the Planet MicroCap Showcase: VEGAS 2025 in partnership with MicroCapClub on Wednesday, April 23, 2025 & 1x1 Meetings on Thursday, April 24, 2025

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