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Pioneer Power Solutions cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$2.8M in Q2 2026 · −$7.7M over twelve months

Operating cash flow−$2.7M
Capital spending−$76K
Free cash flow−$2.8M
Cash conversion cycle157 days

Analysis

In Q2 2026, Pioneer Power Solutions generated −$2.7M of operating cash flow and spent $76K on capital projects, leaving free cash flow of −$2.8M. That is $2.8M more than in Q2 2025 (−$5.6M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$5.5M; the largest uses were operating cash flow ($5.5M), capital spending ($2.2M), other financing ($146K); besides operations, cash came from other investing ($686K); the cash balance fell by $7.3M.

Operating cash flow was −$2.7M against net income of −$2.1M. The largest differences: receivables −$922K, inventory −$746K, deferred revenue +$472K.

Its cash conversion cycle was 157 days (receivables 73 + inventory 140 − payables 57).

Free cash flow

Pioneer Power Solutions: free cash flow by quarterPioneer Power Solutions: free cash flow by quarter−$3.4MQ3 2024−$4.6MQ4 2024$907KQ1 2025−$5.6MQ2 2025−$1.6MQ3 2025−$2.2MQ4 2025−$1.1MQ1 2026−$2.8MQ2 2026
Operating cash flow less capital spending.
Pioneer Power Solutions: operating cash flow against capital spendingPioneer Power Solutions: operating cash flow against capital spendingOperating cash flowCapital spending−$2.7M$663KQ3 2024−$2.1M$2.5MQ4 2024$1.5M$595KQ1 2025−$5.5M$145KQ2 2025−$817K$792KQ3 2025−$1.0M$1.1MQ4 2025−$887K$233KQ1 2026−$2.7M$76KQ2 2026
Latest (Q2 2026): Operating cash flow −$2.7M, Capital spending $76K.

Capital allocation, year by year

Pioneer Power Solutions: where the cash came from (up) and went (down), by fiscal yearPioneer Power Solutions: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsDividendsFY2021: Operating cash flow −$3.2MFY2021: Net borrowing −$112KFY2021: Shares issued $8.7MFY2021: Capital spending −$237KFY2021: Dividends −$1.0M$8.7MFY2021FY2022: Operating cash flow −$5.8MFY2022: Net borrowing −$241KFY2022: Shares issued $17KFY2022: Capital spending −$1.5M$17KFY2022FY2023: Operating cash flow −$3.9MFY2023: Net borrowing −$355KFY2023: Shares issued $227KFY2023: Capital spending −$2.5M$227KFY2023FY2024: Operating cash flow −$6.2MFY2024: Net borrowing −$129KFY2024: Shares issued $5.5MFY2024: Asset sales $42.6MFY2024: Capital spending −$3.8M$48.1MFY2024FY2025: Operating cash flow −$5.8MFY2025: Net borrowing −$136KFY2025: Capital spending −$2.7MFY2025: Acquisitions −$2.2MFY2025: Dividends −$16.7MFY2025
Over these 5 years operating cash flow totalled −$24.9M; the largest uses were operating cash flow ($24.9M) and dividends ($17.7M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$10.7M
Debtnone
Net cash$10.7M
Cash runway17 months

Pioneer Power Solutions is burning cash: its operations consume cash, a free cash flow of −$7.7M a year at the current rate against $10.7M of cash and investments: a runway of about 17 months before any new financing.

Where the cash came from and went

Pioneer Power Solutions: sources (+) and uses (−) of cash, Q2 2026Pioneer Power Solutions: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)$2.9MOperating cash flow−$2.7MCapital spending−$76KOther investing−$69KNet borrowing (+) / repaid (−)−$31K
Pioneer Power Solutions: sources (+) and uses (−) of cash, TTM to Q2 2026Pioneer Power Solutions: sources (+) and uses (−) of cash, TTM to Q2 2026Cash drawn (+) / kept (−)$7.3MOperating cash flow−$5.5MCapital spending−$2.2MOther investing$686KOther financing−$146KNet borrowing (+) / repaid (−)−$144K

From profit to cash

Pioneer Power Solutions: net income to operating cash flow, Q2 2026Pioneer Power Solutions: net income to operating cash flow, Q2 2026Net income−$2.1MDepreciation & amortization$254KStock-based pay$1KReceivables−$922KInventory−$746KDeferred revenue$472KPrepaid and other assets−$165KOperating cash flow−$2.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 20267314057157
Q1 20267314859162
Q4 20256314059144
Q3 2025639248108
Q2 2025727943108
Q1 2025958544137
Q4 20248314784146
Q3 2024113270142240

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$2.7M−$76K—−$31K—$2.9M−$2.8M
Q1 2026−$887K−$233K—−$32K$2K$1.4M−$1.1M
Q4 2025−$1.0M−$1.1M—−$46K—$2.4M−$2.2M
Q3 2025−$817K−$792K—−$35K—$663K−$1.6M
Q2 2025−$5.5M−$145K—−$31K—$7.8M−$5.6M
Q1 2025$1.5M−$595K−$16.7M−$24K—$15.8M$907K
Q4 2024−$2.1M−$2.5M—−$36K—−$38.5M−$4.6M
Q3 2024−$2.7M−$663K—−$30K—$3.4M−$3.4M

Pioneer Power Solutions: income statement and cash flow

Pioneer Power Solutions, Q2 2026: revenue $4.7M (-28% year over year), operating margin -42.5%. The chart follows the revenue to costs, profit and cash.

Pioneer Power Solutions: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.