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Pioneer Power Solutions PPSI
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Quarterly report 2026-Q1
added 05-15-2026

Pioneer Power Solutions Income Statement 2025-2009 | PPSI

Brief overview of profit and loss at Pioneer Power Solutions

The conclusions below are based on five years of reported results. Pioneer Power Solutions reported revenue of 19.5 million dollars in 2020 and 27.6 million dollars by 2025. Overall revenue changed by +41.7%, equal to an annualized rate of about 7.2%. This represents moderate business growth.

Gross profit was 881 thousand dollars at the start and 3.4 million dollars at the end of the period (+288.9%). The cost base moved more slowly than the top line, which supported margins. Gross margin moved from 4.5% to 12.4%. The expansion indicates stronger pricing power or better control of direct costs.

EBITDA changed from −$4.1 million to −$5.6 million (−36.4%). EBITDA lagged revenue, showing weaker operating momentum. Comparing the endpoints gives EBITDA margins of −20.9% and −20.2%. The EBITDA margin stayed near its previous level.

The final result was −$3 million initially and −$6 million in the final year. The period ended with a larger loss than it began with.

Market value was 59.2 million dollars at the start and 37.2 million dollars at the end. Investors remain cautious despite better financial results.

Overall conclusion

The financial trajectory is weak and requires a cautious interpretation. The constructive conclusion rests on a stronger gross margin, revenue expansion and stable operating profitability. The main areas of concern are limited operating profitability, declining net profitability and lower investor confidence. The key question is whether sales can be converted into sustainable profit.

Annual Income Statement Pioneer Power Solutions

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009

Market Cap

37.2 M 36 M 44.6 M 43.4 M 53.3 M 59.2 M 18.9 M 44.5 M 68 M 76.6 M 25.7 M 66.8 M 61.4 M - - - -

Shares

11.1 M 10.7 M 9.91 M 9.73 M 8.86 M 8.73 M 8.73 M 8.73 M 8.72 M 8.7 M 7.75 M 7.18 M 6.26 M - - 5.87 K -

Historical Prices

3.35 3.35 4.5 4.46 6.02 6.61 2.12 3.52 5.24 6.07 2.29 6.41 6.79 - - - -

Net Income

-6 M 31.9 M -1.9 M -5.42 M -2.17 M -2.99 M -1.44 M -5.66 M -9.34 M -1.06 M -5.88 M -268 K 5.27 M 2.99 M -60 K 2.95 M -

Revenue

27.6 M 22.9 M 11.1 M 25.9 M 18.3 M 19.5 M 20.6 M 106 M 101 M 114 M 107 M 92.2 M 88.2 M 84 M 68.8 M 47.2 M -

Cost of Revenue

24.2 M 17.4 M 8.89 M 23.1 M 16.9 M 18.6 M 19.4 M 87.1 M 96.7 M 77.5 M - - - - - - -

Gross Profit

3.43 M 5.51 M 2.22 M 2.83 M 1.39 M 881 K 1.16 M 19.3 M 20 M 23.4 M 21.1 M 18.2 M 21.8 M 18.9 M 16 M 11.6 M -

Operating Income

-6.6 M -5.25 M -7.04 M -5.81 M -3.86 M -4.28 M -11.8 M -9.12 M -3.31 M 3.56 M -5.3 M 1.75 M 7.13 M 5.95 M 4.71 M 4.1 M -

Interest Expense

-518 K 50 K 524 K -67 K 1.29 M 969 K -2.82 M -64 K -411 K 554 K -2.54 M -913 K - -92 K -820 K 353 K -

EBITDA

-5.57 M -4.53 M -6.31 M -5.58 M -3.71 M -4.08 M -11.5 M 1.09 M 6.34 M 6.5 M 3.07 M 4.55 M 8.61 M 7.3 M 5.99 M 4.72 M -

Operating Expenses

10 M 10.8 M 9.26 M 8.64 M 5.26 M 5.16 M 12.9 M 21.5 M 16.7 M 20 M 21.2 M 15.2 M 14.7 M 13.2 M 11.1 M 7.5 M -

General and Administrative Expenses

9.15 M 9.71 M 8.38 M 8.64 M 5.26 M 5.16 M 12.7 M 21.5 M 16.7 M 20 M 21.2 M 15.2 M 14.7 M 13.2 M 11.1 M 7.64 M -

All numbers in USD currency

Quarterly Income Statement Pioneer Power Solutions

2026-Q1 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1

Shares

11.1 M 11.1 M 11.1 M 11.1 M 11.1 M 10.9 M 10.9 M 10.1 M 9.93 M 10 M 9.91 M 9.77 M 9.64 M 9.77 M 9.73 M 9.64 M 9.64 M 8.73 M 8.73 M 8.73 M 8.73 M 8.73 M 8.73 M 8.73 M 8.73 M 8.73 M 8.73 M 8.73 K 8.73 M 8.73 M 8.73 M 8.73 K 8.73 M 8.72 M 8.71 M 8.7 M 8.7 M 8.7 M 8.7 M 8.7 M 8.7 M 7.47 M 7.41 M 7.41 M 7.41 M 7.17 M 7.17 M 7.17 M 7.17 M 6.05 M 5.91 M 5.91 M 5.91 M 5.91 M 5.91 M 5.91 M 5.91 M 5.91 K 5.91 K 5.91 K

Net Income

-2.51 M -2.35 M -1.33 M -929 K - -1.12 M -2.28 M -1.04 M - 1.01 M 848 K 742 K - -1.31 M -2.54 M -740 K - -434 K -686 K 351 K - 1.34 M -660 K -2.92 M - -1.03 M -1.03 M 5.65 M - 58 K -796 K -574 K - -795 K 1.28 M 109 K - 322 K 194 K 569 K - -3.55 M -817 K -225 K - 1.78 M 302 K 590 K - 1.01 M 1.26 M 913 K - 227 K 801 K 756 K - -1.75 M 225 K 963 K

Revenue

4.01 M 6.89 M 8.37 M 6.74 M - 6.42 M 3.4 M 3.32 M - 11.5 M 12.3 M 9.56 M - 6.25 M 4.86 M 6.36 M - 5.68 M 5.62 M 3.5 M - 4.05 M 5.09 M 5 M - 5.57 M 5.36 M 3.02 M - 4.57 M 3.88 M 27.2 M - 25.5 M 27.3 M 25.1 M - 29.4 M 29.9 M 26.6 M - 24.9 M 26.5 M 28.9 M - 26.1 M 21.1 M 20.9 M - 22.4 M 22 M 22.6 M - 19.2 M 21.8 M 20.3 M - 17.9 M 16.4 M 15.7 M

Cost of Revenue

3.68 M 6.25 M 7.06 M 6.59 M - 4.89 M 2.75 M 2.78 M - 7.76 M 8.4 M 6.72 M - 5.39 M 4.8 M 5.44 M - 4.97 M 5.13 M 3.34 M - 3.31 M 5.38 M 4.82 M - 5.31 M 4.84 M 2.76 M - 3.97 M 3.68 M 22 M - 20.5 M - 19.5 M - 22.9 M - - - - - - - - - - - - - - - - - - - - - -

Gross Profit

582 K 640 K 1.31 M 148 K - 1.52 M 641 K 535 K - 3.7 M 3.88 M 2.83 M - 861 K 63 K 923 K - 713 K 495 K 159 K - 739 K -297 K 177 K - 256 K 521 K 256 K - 597 K 193 K 5.18 M - 5.01 M 5.82 M 5.57 M - 6.52 M 6.27 M 5.86 M - 5.04 M 5.07 M 5.57 M - 6.71 M 4.19 M 4.92 M - 5.9 M 5.58 M 5.08 M - 4.22 M 4.76 M 4.59 M - 3.82 M 3.55 M 4.32 M

Operating Income

-2.02 M -1.45 M -1.71 M -2.35 M - -714 K -1.74 M -1.73 M - 940 K 789 K 675 K - -1.44 M -2.52 M -823 K - -518 K -745 K -1.11 M - -451 K -1.18 M -1.75 M - -3.59 M -1.55 M -1.44 M - -1.17 M -1.56 M 281 K - 1.06 M 1.85 M 1.13 M - 1.21 M 1.38 M 1.09 M - -3.33 M -687 K -84 K - 2.81 M 571 K 995 K - 2.29 M 2.06 M 1.5 M - 1.16 M 1.47 M 1.42 M - 874 K 1.04 M 1.75 M

Interest Expense

-644 K -438 K 297 K 23 K - -1 K - 40 K - 11 K -20 K 13 K - 17 K -117 K -11 K - -13 K -36 K 1.34 M - 1.74 M 449 K -1.28 M - -2.15 M -3.81 M 3.34 M - -267 K -212 K -234 K - -112 K 44 K -98 K - -264 K -275 K -16 K - -1.19 M -186 K -77 K - -169 K -2 K -2 K - -236 K -74 K -93 K - 39 K 1 K 29 K - 328 K 441 K -

EBITDA

-1.76 M - - -2.09 M - -499 K -1.54 M -1.6 M - 1.15 M 1.02 M 878 K - -1.35 M -2.48 M -787 K - -483 K -708 K -1.07 M - -401 K -1.13 M -1.69 M - -3.52 M -1.48 M -1.37 M - -1.04 M -1.45 M 591 K - 1.85 M 2.37 M 1.39 M - 2.03 M 2.14 M 1.84 M - -2.56 M 106 K 700 K - 3.77 M 1.24 M 1.32 M - 3.17 M 2.64 M 1.79 M - 2.07 M 2.06 M 1.72 M - 1.45 M 1.37 M 1.92 M

Operating Expenses

2.6 M 2.09 M 3.02 M 2.49 M - 2.24 M 2.38 M 2.26 M - 2.76 M 3.09 M 2.16 M - 2.3 M 2.58 M 1.75 M - 1.23 M 1.24 M 1.26 M - 1.19 M 887 K 1.92 M - 3.84 M 2.07 M 1.7 M - 1.76 M 1.75 M 4.9 M - 3.96 M 3.98 M 4.43 M - 5.3 M 4.88 M 4.76 M - 8.37 M 5.76 M 5.65 M - 3.9 M 3.62 M 3.92 M - 3.61 M 3.52 M 3.58 M - 3.06 M 3.3 M 3.17 M - 2.94 M 2.51 M 2.57 M

General and Administrative Expenses

2.45 M 1.98 M 2.49 M 2.41 M - 1.98 M 2.14 M 2.05 M - 2.76 M 3.09 M 2.16 M - 2.3 M 2.58 M 1.75 M - 1.23 M 1.24 M 1.26 M - 1.19 M 877 K 1.93 M - 3.84 M 2.07 M 1.7 M - 1.76 M 1.75 M 4.83 M - 4.15 M 4.18 M 4.34 M - 5.34 M 4.86 M 4.69 M - 5.17 M 5.68 M 5.82 M - 4.07 M 3.51 M 3.97 M - 3.61 M 3.53 M 3.52 M - 3.22 M 3.31 M 3.24 M - 2.9 M 2.51 M 2.59 M

All numbers in USD currency

The income statement is one of the three key financial reports of a company Pioneer Power Solutions (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:

  • How much revenue the company earned
  • How much it spent on production, personnel, marketing, taxes, etc.
  • What profit remained in the end

Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.

Features
  • The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
  • Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
  • A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.

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