secwatch.observer — SEC 8-K summary
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Issuer:     PIONEER POWER SOLUTIONS, INC. (PPSI)
CIK:        0001449792
Form:       8-K
Filed at:   2022-05-16T23:59:59+00:00
Accession:  0001387131-22-006209
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pioneer Power Q1 revenue up 72% to $6.0M; backlog hits $24M
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- Revenue increased 72% to $6.0M; gross profit up 450% to $875,000 (14.5% margin).
- Net loss of $788,000 ($0.08 per share) vs net income $351,000 in prior year (which included $1.4M PPP loan forgiveness).
- Backlog increased to $24M, highest since transformer business sale; e-Bloc accounts for $15.2M of backlog.
- E-BOOST EV-charging solutions contributed $788,000 revenue; first order received from Navistar.
- Guidance: expects 2022 revenue growth of at least 50% over 2021; positive operating cash flow expected.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1449792/000138713122006209/0001387131-22-006209-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1449792/000138713122006209/ppsi-8k_051622.htm
  HTML page:      https://secwatch.observer/filing/0001387131-22-006209

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