Pioneer Power Q3 revenue up 10% to $6.3M; E-Bloc sales surge 79%; backlog record $27.9M

PIONEER POWER SOLUTIONS, INC.

2022-Q3 EPS reported -$0.47 revenue$17,476,000

Revenue $6.3M (+10% YoY); E-Bloc revenue $3.4M (+79% YoY); net loss $1.3M ($0.13/share) vs $434K loss last year.
Total backlog reached record $27.9M, up 157% YoY and 15% sequentially; 50% of backlog from E-Bloc.
Company reaffirms 50% YoY full-year revenue growth expectation for 2022.
Post-quarter: won $8M E-Bloc order from a major automaker and two e-Boost systems for California port.
Cash $7.2M; expects $6.2M from note receivable by year-end.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PIONEER POWER SOLUTIONS, INC. reported the three months ended September 30, 2022 results: revenue $6.3 million, net income $1.3 million, EPS $(0.13) per basic and diluted share. Guidance reaffirmed.

Period: the three months ended September 30, 2022
Revenue: $6.3 million
Net income: $1.3 million
EPS: $(0.13) per basic and diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

record levels since the Company sold its transformer business units three years ago. Financial Highlights for the Third Quarter of 2022: ● Revenue increased approximately 10% to $6.3 million for the three months ended September 30, 2022, as compared to $5.7 million for the three months ended September 30, 2021. Revenue during the third quarter reflected increased

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Source: SEC EDGAR

accession 0001387131-22-011392

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