Pioneer Power Q4 revenue down 35% with net loss $1.4M; backlog doubles to $22.8M; guides 50%+ revenue growth in 2022

PIONEER POWER SOLUTIONS, INC.

2022-Q1 EPS reported -$0.08 revenue$6,036,000

Q4 2021 revenue $3.5M (-35% YoY); net loss $1.4M ($0.16/shr) vs $744k loss prior year.
Backlog more than doubled to $22.8M at Dec 31, 2021 from $10.9M at Sep 30, 2021.
E-BOOST launched Nov 2021; received $788k order from hotel/casino and $120k order for school bus charging in Q1 2022.
FY2021 revenue $18.3M (-6% YoY); net loss narrowed to $2.2M from $3.0M in FY2020.
Guides FY2022 revenue up at least 50% over 2021, margin expansion, and positive operating cash flow.

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