PPSI · Pioneer Power Solutions, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.27M | - | $6.89M | $8.37M | $6.74M | - | $10.91M | $6.34M | $8.59M | - |
| Cost of Revenue | $3.68M | - | $6.25M | $7.06M | $6.59M | - | $8.85M | $5.69M | $6.86M | - |
| Gross Profit | $582.0K | - | $640.0K | $1.31M | $148.0K | - | $2.07M | $653.0K | $1.73M | - |
| R&D | $156.0K | - | $111.0K | $534.0K | $80.0K | - | $256.0K | $238.0K | $211.0K | - |
| SG&A | $2.45M | - | $1.98M | $2.49M | $2.41M | - | $2.91M | $2.71M | $2.62M | - |
| Total Operating Expenses | $2.60M | - | $2.09M | $3.02M | $2.49M | - | $3.16M | $2.95M | $2.83M | - |
| D&A | $265.0K | - | - | - | $258.0K | - | $215.0K | $195.0K | $154.0K | - |
| Operating Income | ($2.02M) | - | ($1.45M) | ($1.71M) | ($2.35M) | - | ($1.10M) | ($2.30M) | ($1.11M) | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | - | - | $69.0K | - | - | - | - | - | - | - |
| Net Income | ($2.51M) | - | ($2.35M) | ($1.33M) | ($929.0K) | - | ($1.12M) | ($2.28M) | ($1.03M) | - |
| EPS - Basic | ($0.23) | - | ($0.21) | ($0.12) | ($0.09) | - | ($0.10) | ($0.21) | ($0.10) | - |
| EPS - Diluted | ($0.23) | - | ($0.21) | ($0.12) | ($0.09) | - | ($0.10) | ($0.21) | ($0.10) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $13.58M | $14.96M | $17.34M | $18.00M | $25.84M | $41.62M | $3.08M | $6.51M | $6.23M | $3.58M |
| Accounts Receivable | $3.36M | $3.13M | $4.61M | $4.88M | $5.34M | $7.83M | $9.80M | $5.90M | $9.01M | $9.01M |
| Inventory | $5.83M | $6.32M | $6.78M | $5.78M | $6.46M | $6.07M | $16.10M | $12.66M | $9.59M | $7.58M |
| Accounts Payable | $2.61M | $2.25M | $3.31M | $3.25M | $3.38M | $3.05M | $9.63M | $5.52M | $5.63M | $5.40M |
| Current Assets | $23.73M | $25.54M | $29.05M | $29.32M | $38.63M | $56.66M | $31.45M | $33.02M | $34.31M | $27.68M |
| Total Assets | $33.02M | $35.45M | $37.58M | $39.12M | $47.48M | $65.95M | $40.06M | $38.02M | $39.31M | $33.02M |
| Current Liabilities | $5.08M | $4.88M | $6.28M | $5.41M | $12.47M | $29.98M | $22.35M | $21.88M | $20.81M | $18.26M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $6.20M | $6.14M | $6.88M | $6.08M | $12.96M | $30.52M | $25.38M | $22.24M | $21.25M | $18.80M |
| Stockholders' Equity | $26.82M | $29.32M | $30.70M | $33.04M | $34.51M | $35.43M | $14.68M | $15.79M | $18.06M | $14.22M |
| Retained Earnings | ($8.51M) | ($6.00M) | ($4.61M) | ($2.26M) | ($929.0K) | - | ($24.07M) | ($22.95M) | ($20.66M) | ($19.63M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($887.0K) | - | - | - | $1.50M | - | - | - | ($1.95M) | - |
| Investing Cash Flow | ($459.0K) | - | - | - | ($595.0K) | - | - | - | ($213.0K) | - |
| Financing Cash Flow | ($30.0K) | - | - | - | ($16.69M) | - | - | - | $4.81M | - |
| CapEx | $233.0K | - | - | - | $595.0K | - | - | - | $213.0K | - |
| Free Cash Flow | ($1.12M) | - | - | - | $907.0K | - | - | - | ($2.16M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 13.6% | - | 9.3% | 15.7% | 2.2% | - | 18.9% | 10.3% | 20.1% | - |
| Operating margin | -47.4% | - | -21.0% | -20.4% | -34.8% | - | -10.1% | -36.3% | -12.9% | - |
| EBITDA margin | -41.1% | - | - | - | -31.0% | - | -8.1% | -33.2% | -11.1% | - |
| Net margin | -58.8% | - | -34.1% | -15.9% | -13.8% | - | -10.3% | -36.0% | -12.0% | - |
| Free cash flow margin | -26.3% | - | - | - | 13.5% | - | - | - | -25.2% | - |
| FCF / Net income | 0.45 | - | - | - | -0.98 | - | - | - | 2.09 | - |
| R&D / Revenue | 3.7% | - | 1.6% | 6.4% | 1.2% | - | 2.3% | 3.8% | 2.5% | - |
| SG&A / Revenue | 57.3% | - | 28.7% | 29.7% | 35.8% | - | 26.6% | 42.8% | 30.5% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -7.6% | - | -6.3% | -3.4% | -2.0% | - | -2.8% | -6.0% | -2.6% | - |
| Return on equity | -9.4% | - | -7.7% | -4.0% | -2.7% | - | -7.6% | -14.5% | -5.7% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 4.68 | 5.23 | 4.62 | 5.42 | 3.10 | 1.89 | 1.41 | 1.51 | 1.65 | 1.52 |
| Quick ratio | 3.53 | 3.94 | 3.55 | 4.35 | 2.58 | 1.69 | 0.69 | 0.93 | 1.19 | 1.10 |
| Cash ratio | 2.68 | 3.06 | 2.76 | 3.33 | 2.07 | 1.39 | 0.14 | 0.30 | 0.30 | 0.20 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.23 | 1.21 | 1.22 | 1.18 | 1.38 | 1.86 | 2.73 | 2.41 | 2.18 | 2.32 |
| Liabilities / Assets | 0.19 | 0.17 | 0.18 | 0.16 | 0.27 | 0.46 | 0.63 | 0.58 | 0.54 | 0.57 |
| Efficiency | ||||||||||
| Asset turnover | 0.13 | - | 0.18 | 0.21 | 0.14 | - | 0.27 | 0.17 | 0.22 | - |
| Inventory turnover | 0.63 | - | 0.92 | 1.22 | 1.02 | - | 0.55 | 0.45 | 0.72 | - |
| Days sales outstanding | 288d | - | 244d | 213d | 289d | - | 328d | 340d | 383d | - |
| Days inventory outstanding | 578d | - | 396d | 299d | 357d | - | 664d | 812d | 510d | - |
| Days payable outstanding | 258d | - | 193d | 168d | 187d | - | 397d | 354d | 299d | - |
| Cash conversion cycle | 607d | - | 447d | 344d | 460d | - | 595d | 798d | 594d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 1.3x | - | 1.6x | 0.9x | 1.0x | - | 3.5x | 2.7x | 3.2x | - |
| P / S | 8.5x | - | 7.0x | 3.6x | 5.0x | - | 4.7x | 6.8x | 6.7x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -36.7% | - | -36.9% | 32.0% | -21.5% | - | -12.3% | -47.7% | 1.0% | - |
| Revenue CAGR (3y) | -20.6% | - | 3.3% | 25.0% | 3.7% | - | 24.3% | 4.1% | 34.9% | - |
| Revenue CAGR (5y) | 4.0% | - | 11.2% | 10.5% | 6.2% | - | 14.4% | 3.4% | -19.0% | - |
| Gross profit growth (YoY) | 293.2% | - | -69.0% | 101.2% | -91.4% | - | -44.3% | -75.9% | -21.9% | - |
| Operating income growth (YoY) | 13.9% | - | -31.9% | 25.7% | -112.1% | - | - | -508.5% | - | - |
| Net income growth (YoY) | -170.0% | - | -109.6% | 41.8% | 10.2% | - | - | -615.7% | - | - |
| EPS growth (YoY) | -155.6% | - | -110.0% | 42.9% | 10.0% | - | - | -600.0% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -22.3% | -17.3% | 109.1% | 109.3% | 91.1% | 149.2% | -20.6% | -10.7% | 5.1% | -16.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$31.90M totalProduct$13.91M · 43.6%
Service$9.44M · 29.6%
Total Revenue$4.27M · 13.4%
Sales Type Lease Revenue$2.86M · 9.0%
Operating Lease Revenue$1.41M · 4.4%
Geographic
$27.63M totalUS$27.50M · 99.5%
CA$127.0K · 0.5%
Peer comparison
Same SIC group: Miscellaneous Electrical Machinery, Equipment & Supplies
Comparing PIONEER POWER SOLUTIONS against the 5 most active filers in the same SIC group.
Dividends
$0.00/share trailing 12 months · -100.0% YoY
| Ex-date | Per share |
|---|---|
| Dec 17, 2024 | $1.5000 |
| Jun 21, 2021 | $0.1200 |
| Oct 8, 2019 | $1.3700 |