Filing Flows › Pioneer Power Solutions (PPSI) › Q1 2025
Pioneer Power Solutions (PPSI) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 15, 2025
Pioneer Power Solutions (PPSI) reported revenue of $6.7M for the first quarter 2025 (Q1 2025), +103% from a year earlier. Operating margin was -34.8%, net loss $929K (13.8% of revenue).
Pioneer Power Solutions, Q1 2025: revenue $6.7M (+103% year over year), operating margin -34.8%, net loss $929K, operating cash flow $1.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.7M | — | +103% |
| Operating profit | −$2.3M | — | — |
| Net earnings | −$929K | — | — |
| Operating cash flow | $1.5M | — | — |
| Free cash flow | $907K | — | — |
What changed
Revenue was $6.7M in Q1 2025, up 103% year over year.
Gross margin was 2.2%, down 13.9 points from a year earlier. Operating costs exceeded revenue by $2.3M, an operating margin of -34.8%. Operating expenses grew 10% against revenue growth of 103%. The fastest-growing cost line was SG&A (+18%). The quarter ended with a net loss of $929K.
Operating cash flow was $1.5M. Non-cash charges added back $258K of depreciation and $13K of share-based compensation. Working capital and other items added $2.2M. Capital expenditures of $595K left free cash flow of $907K.
Questions
What was Pioneer Power Solutions' revenue in the first quarter 2025?
Pioneer Power Solutions (PPSI) reported revenue of $6.7M for the first quarter 2025 (Q1 2025), +103% from a year earlier.
Was Pioneer Power Solutions profitable in the first quarter 2025?
Operating loss was $2.3M (-34.8% of revenue) and net loss $929K.