Pioneer Power Solutions, Inc. (PPSI) Financial Statements
Industry: Miscellaneous Electrical Machinery, Equipment & Supplies
In fiscal 2025, Pioneer Power Solutions reported revenue of $27.6M, up 20.8% from $22.9M the year before. Net income was -$6.0M (a -21.7% net margin), or -$0.54 per diluted share. Gross margin was 12.4% and operating margin was -23.9%. Operating activities generated -$5.8M of cash, leaving -$8.5M of free cash flow. At fiscal year end, Pioneer Power Solutions held $35.5M in total assets against $6.1M in total liabilities.
Open the full interactive Pioneer Power Solutions financials → Quarterly statements, key ratios, valuation history and price charts.
Pioneer Power Solutions Key Stats
| Share Price | $2.90 |
|---|---|
| Market Cap | $32.2M |
| Dividend Yield | 51.79% |
| Revenue YoY Growth | +20.8% |
| 52-Week Range | $2.37 – $6.08 |
| Shares Outstanding | 11.1 million (basic, 2026 Q2) |
Pioneer Power Solutions Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $19.5M | $18.3M | $27.0M | $41.5M | $22.9M | $27.6M |
| Cost of Goods Sold | $18.6M | — | $22.4M | $33.1M | $17.4M | $24.2M |
| Gross Profit | $881,000 | $1.4M | $4.6M | $8.3M | $5.5M | $3.4M |
| Operating Income | -$4.3M | -$3.9M | -$4.0M | -$2.7M | -$5.2M | -$6.6M |
| Pre-Tax Income | -$3.0M | -$2.2M | -$3.6M | -$1.9M | -$4.8M | -$6.4M |
| Income Tax | $5,000 | -$16,000 | $7,000 | — | -$1.4M | $74,000 |
| Net Income | -$3.0M | -$2.2M | -$3.6M | -$1.9M | $31.9M | -$6.0M |
| Diluted EPS | -$0.34 | -$0.24 | -$0.37 | -$0.19 | $2.90 | -$0.54 |
Pioneer Power Solutions Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $6.9M | $5.6M | $4.0M | $4.7M |
| Net Income | -$2.4M | -$1.4M | -$2.5M | -$2.1M |
| Diluted EPS | -$0.21 | -$0.12 | -$0.23 | -$0.19 |
Pioneer Power Solutions Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $7.6M | — | — | $3.6M | $41.6M | — |
| Current Assets | $14.0M | $25.1M | $33.0M | $27.7M | $56.7M | $25.5M |
| Total Assets | $21.3M | $27.9M | $37.2M | $33.0M | $66.0M | $35.5M |
| Current Liabilities | $5.5M | $6.6M | $19.0M | $18.3M | $30.0M | $4.9M |
| Total Long-Term Debt | $1.4M | — | — | — | — | — |
| Total Liabilities | $7.4M | $8.4M | $20.2M | $18.8M | $30.5M | $6.1M |
| Shareholders' Equity | $13.9M | $19.6M | $16.9M | $14.2M | $35.4M | $29.3M |
Pioneer Power Solutions Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$3.6M | -$2.3M | -$5.8M | -$3.9M | -$6.2M | -$5.8M |
| Cash From Investing | $2.6M | -$237,000 | $4.7M | -$2.5M | $38.9M | -$3.9M |
| Cash From Financing | $337,000 | $6.7M | -$353,000 | -$323,000 | $5.4M | -$16.9M |
| Free Cash Flow | -$3.8M | -$2.6M | -$7.3M | -$6.4M | -$10.0M | -$8.5M |
| Dividends Paid | — | $1.0M | — | — | — | $16.7M |
Figures from Pioneer Power Solutions' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Pioneer Power Solutions financials page for every line item.
Pioneer Power Solutions Company Profile
| Ticker | PPSI |
|---|---|
| Exchange | Nasdaq |
| Industry | Miscellaneous Electrical Machinery, Equipment & Supplies |
| Headquarters | Fort Lee, New Jersey |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001449792 |
Frequently Asked Questions
What was Pioneer Power Solutions' revenue in fiscal 2025?
Pioneer Power Solutions (PPSI) reported revenue of $27.6M for fiscal 2025.
What is Pioneer Power Solutions' annual revenue history?
Pioneer Power Solutions' annual revenue by fiscal year: 2020: $19.5M; 2021: $18.3M; 2022: $27.0M; 2023: $41.5M; 2024: $22.9M; 2025: $27.6M.
What was Pioneer Power Solutions' net income in fiscal 2025?
Pioneer Power Solutions reported net income of -$6.0M for fiscal 2025.
What was Pioneer Power Solutions' earnings per share (EPS) in fiscal 2025?
Pioneer Power Solutions' diluted EPS was -$0.54 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Pioneer Power Solutions generate in fiscal 2025?
Pioneer Power Solutions generated -$8.5M of free cash flow in fiscal 2025.
What was Pioneer Power Solutions' revenue last quarter?
In its most recent reported quarter (2026 Q2), Pioneer Power Solutions reported revenue of $4.7M.
How many shares of Pioneer Power Solutions are outstanding?
Pioneer Power Solutions reported a weighted average of 11.1 million basic shares outstanding in 2026 Q2.
What is Pioneer Power Solutions' market cap?
Based on its latest closing price, Pioneer Power Solutions (PPSI) has a market capitalization of about $32.2M.
When does Pioneer Power Solutions' fiscal year end?
Pioneer Power Solutions' fiscal year end, as registered with the SEC, is December 31.
Where is Pioneer Power Solutions headquartered?
Pioneer Power Solutions lists its business address in Fort Lee, New Jersey in its SEC filings.
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