Filing Flows › Power Solutions International (PSIX) › Q2 2025
Power Solutions International (PSIX) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 8, 2025
Power Solutions International (PSIX) reported revenue of $192M for the second quarter 2025 (Q2 2025), +74% from a year earlier and +42% from the quarter before. Operating margin was 16.9%, net earnings $51.2M (26.7% of revenue).
Power Solutions International, Q2 2025: revenue $192M (+74% year over year), operating margin 16.9%, net earnings $51.2M, operating cash flow $16.7M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $192M | +42% | +74% |
| Gross profit | $54.1M | +34% | +54% |
| Operating profit | $32.5M | +32% | +28% |
| Net earnings | $51.2M | +168% | +138% |
| Operating cash flow | $16.7M | +89% | +986% |
| Free cash flow | $14.6M | +170% | 18× |
What changed
Revenue was $191.9M in Q2 2025, up 74% year over year and up 42% from the previous quarter. Power Systems was the largest line at 82% of revenue. Power Systems added $83.9M year over year (up 115%), 103% of the total change. Transportation declined 15%.
Gross margin was 28.2%, down 3.6 points from a year earlier. Operating profit was $32.5M, a 16.9% margin (down 6.0 points year over year). Of the extra revenue versus a year earlier, 9% reached operating profit, below the 23% margin then. Operating expenses grew 119% against revenue growth of 74%. Net earnings were $51.2M, up 138% year over year. The effective tax rate was -64.8%.
Operating cash flow was $16.7M (up 986% year over year), 33% of net earnings. Non-cash charges added back $1.3M of depreciation and amortization and $154K of share-based compensation. Working capital and other items used $36.0M. Capital expenditures of $2.0M left free cash flow of $14.6M.
Questions
What was Power Solutions International's revenue in the second quarter 2025?
Power Solutions International (PSIX) reported revenue of $192M for the second quarter 2025 (Q2 2025), +74% from a year earlier and +42% from the quarter before.
Was Power Solutions International profitable in the second quarter 2025?
Operating profit was $32.5M (16.9% of revenue) and net earnings $51.2M.