Filing Flows › Power Solutions International (PSIX) › Q3 2025
Power Solutions International (PSIX) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Power Solutions International (PSIX) reported revenue of $204M for the third quarter 2025 (Q3 2025), +62% from a year earlier and +6% from the quarter before. Operating margin was 13.9%, net earnings $27.6M (13.5% of revenue).
Power Solutions International, Q3 2025: revenue $204M (+62% year over year), operating margin 13.9%, net earnings $27.6M, operating cash flow $3.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $204M | +6% | +62% |
| Gross profit | $48.7M | -10% | +34% |
| Operating profit | $28.4M | -13% | +39% |
| Net earnings | $27.6M | -46% | +59% |
| Operating cash flow | $3.3M | -80% | -74% |
| Free cash flow | $1.7M | -88% | -86% |
What changed
Revenue was $203.8M in Q3 2025, up 62% year over year and up 6% from the previous quarter. Power Systems was the largest line at 83% of revenue. Power Systems added $85.3M year over year (up 101%), 109% of the total change. Transportation declined 29%.
Gross margin was 23.9%, down 5.0 points from a year earlier. Operating profit was $28.4M, a 13.9% margin (down 2.3 points year over year). Of the extra revenue versus a year earlier, 10% reached operating profit, below the 16% margin then. Operating expenses grew 27% against revenue growth of 62%. The fastest-growing cost line was Sales & marketing (+39%). Net earnings were $27.6M, up 59% year over year. The effective tax rate was -3.3%.
Operating cash flow was $3.3M (down 74% year over year), 12% of net earnings. Non-cash charges added back $1.4M of depreciation and amortization and $19K of share-based compensation. Working capital and other items used $25.8M. Capital expenditures of $1.5M left free cash flow of $1.7M.
Questions
What was Power Solutions International's revenue in the third quarter 2025?
Power Solutions International (PSIX) reported revenue of $204M for the third quarter 2025 (Q3 2025), +62% from a year earlier and +6% from the quarter before.
Was Power Solutions International profitable in the third quarter 2025?
Operating profit was $28.4M (13.9% of revenue) and net earnings $27.6M.