---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-017387"
form_type: "8-K"
ticker: "PPSI"
cik: "0001449792"
company_name: "PIONEER POWER SOLUTIONS, INC."
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T00:57:32.099853+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Pioneer Power Q1 revenue up 34% to $8.5M; net income $0.01 EPS vs loss $0.08

## Summary
- Revenue $8.5M (+34% YoY); net income $122k ($0.01 EPS) vs net loss $740k ($0.08) in Q1 2022.
- Gross profit $2.2M (26.0% margin) up from $923k (14.5%) in prior year; operating income $55k vs loss $823k.
- Backlog $37.0M, up 57% YoY; cash $11.6M, up 12% from Dec 2022; NOL carryforwards $14.3M.
- Company reiterates FY 2023 revenue guidance $42-45M and expects positive full-year EPS.

## SEC filing metadata
- accession: 0001493152-23-017387
- form_type: 8-K
- ticker: PPSI
- cik: 0001449792
- company_name: PIONEER POWER SOLUTIONS, INC.
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1449792/000149315223017387/0001493152-23-017387-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1449792/000149315223017387/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-017387
- JSON: https://secwatch.observer/filing/0001493152-23-017387.json
- Plain text: https://secwatch.observer/filing/0001493152-23-017387.txt

## Key facts
- Earnings Releases
  PIONEER POWER SOLUTIONS, INC. reported first quarter ended March 31, 2023 results: revenue $8.5 million, net income $122,000, EPS $0.01 per basic and diluted share. Guidance reaffirmed.
  - Period: first quarter ended March 31, 2023
  - Revenue: $8.5 million
  - Net income: $122,000
  - EPS: $0.01 per basic and diluted share
  - Guidance: reaffirmed
  - Result: reported results
  source text: Financial Highlights for the First Quarter of 2023: ● First quarter revenue increased approximately 34% to $8.5 million, as compared to $6.4 million for the first quarter of 2022. ● Pioneer’s total backlog at March 31, 2023 was $37.0 million, up $13.4 million (or 57%) when compared to $23.6 million at March 31, 2022, and essentially flat compared to Pioneer’s ending backlog at December 31, 2022. ● First quarter gross profit increased significantly to $2.2 million, or a 26.0% gross margin, which is a 1,150 basis point improvement when compared to a gross margin of 14.5%, or gross profit of $923,000, for the first quarter of 2022. ● First quarter total operating income was $55,000, compared to an operating loss of $823,000 in the first quarter of last year. ● First quarter net income was $122,000, or $0.01 per basic and diluted share, compared to a net loss of $740,000, or $(0.08) per basic and diluted share, for the same period last year. ● The Company had cash on hand of $11.6 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1449792/000149315223017387/0001493152-23-017387-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.