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Pioneer Power Solutions (PPSI) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 14, 2026 · Pioneer Power Solutions (PPSI) Q2 2026 earnings results →
Q2 2026 Revenue down 28% year over year to $4.7M · 44¢ of every $1 of revenue lost · operating margin -42.5%
Pioneer Power Solutions made $4.7M in Q2 2026 (-28% Y/Y): Product $2.5M, Service $2.2M. Operating margin -42.5%, net loss $2.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 14, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $4.7M in Q2 2026, down 27% year over year and up 18% from the previous quarter. Product was the largest line at 54% of revenue. Product lost $1.7M year over year (down 40%), 94% of the total change.
Gross margin was 20.9%, up 0.7 points from Q2 2025. Operating costs exceeded revenue by $2.0M, an operating margin of -42.5%. Operating expenses fell 1% while revenue fell 27%. The fastest-growing cost line was SG&A (+14%). The quarter ended with a net loss of $2.1M, narrower than the previous quarter's $2.5M loss.
Operating cash flow was −$2.7M. Non-cash charges added back $254K of depreciation and $1K of share-based compensation. Working capital and other items used $935K. Capital expenditures of $76K exceeded it, leaving free cash flow of −$2.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 14, 2026 | $4.7M | -28% | -42.5% | −$2.1M | −$2.7M |
| Q1 2026 | 10-Q | May 15, 2026 | $4.0M | -36% | -50.4% | −$2.5M | −$887K |
| Q4 2025 | 10-K | Apr 8, 2026 | $5.6M | -42% | -19.4% | −$1.4M | −$1.0M |
| Q3 2025 | 10-Q | Nov 14, 2025 | $6.9M | +7% | -21.0% | −$2.4M | −$817K |
| Q2 2025 | 10-Q | Aug 14, 2025 | $8.4M | +146% | -20.4% | −$1.3M | −$5.5M |
| Q1 2025 | 10-Q | May 15, 2025 | $6.7M | +103% | -34.8% | −$929K | $1.5M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- Eneridge Inc — 24% of its revenue · Stated in 10-K (XBRL) · source
About Pioneer Power Solutions
Pioneer Power Solutions, Inc. and its wholly owned subsidiary (referred to herein as the “Company,” “Pioneer,” “Pioneer Power,” “we,” “our” and “us”) design, manufacture, integrate, service, and sell distributed energy resources, on site and mobile power generation equipment and a platform of mobile electric vehicle (“EV”) charging solutions. Our products and services are sold to a broad range of customers in the utility, industrial and commercial markets. Our customers include, but are not limited to, Federal and State government entities, package delivery businesses, school bus fleet operators, EV charging infrastructure developers and owners, and distributed energy developers. We are headquartered in Fort Lee, New Jersey and operate from two (2) additional locations in the United States for manufacturing, service and maintenance, engineering, and sales and administration.
In its own words, from its 10-K, filed Apr 8, 2026.
Pioneer Power Solutions against its Miscellaneous Electrical Machinery, Equipment & Supplies peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -28% against the peers' median +8%. Operating margin: -42.5% against the peers' median 2.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| PPSI Pioneer Power Solutions | Q2 2026 | $4.7M | -28% | -42.5% |
| ENS EnerSys | Q1 FY27 | $936M | +5% | 16.2% |
| ATKR Atkore | Q3 FY26 | $795M | +8% | 8.1% |
| SPB Spectrum Brands Holdings | Q3 FY26 | $753M | +8% | 2.1% |
| ENR Energizer Holdings | Q3 FY26 | $734M | +1% | 6.8% |
| FLNC Fluence Energy | Q3 FY26 | $650M | +8% | -6.7% |
| NOVT Novanta | Q2 2026 | $266M | +10% | 6.8% |
| CHPT ChargePoint Holdings | Q2 FY27 | $116M | +18% | -29.3% |
| MVST Microvast Holdings | Q2 2026 | $87.3M | -4% | -2.0% |
Source: Pioneer Power Solutions 10-Q on SEC EDGAR · CIK 1449792 · Miscellaneous Electrical Machinery, Equipment & Supplies
13F: who owns PPSI and who is buying
More on PPSI
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results