---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-022972"
form_type: "8-K"
ticker: "PPSI"
cik: "0001449792"
company_name: "PIONEER POWER SOLUTIONS, INC."
filed_at: "2024-06-06T23:59:59+00:00"
generated_at: "2026-06-01T05:51:56.272242+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Pioneer Power Solutions to restate 2022 and 2023 financials due to revenue recognition errors

## Summary
- Audit Committee concluded FY2022 and Q1 2022–Q3 2023 financials should no longer be relied upon.
- Errors from using estimated labor hours to measure progress on over-time contracts; actual hours differed materially.
- Restatement will adjust revenue and cost recognition; corrected figures to be filed in 2023 Form 10-K.
- Independent auditor Marcum LLP was notified of the matter.
- No specific dollar impact disclosed; company has not yet filed the 2023 10-K.

## SEC filing metadata
- accession: 0001493152-24-022972
- form_type: 8-K
- ticker: PPSI
- cik: 0001449792
- company_name: PIONEER POWER SOLUTIONS, INC.
- filed_at: 2024-06-06T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1449792/000149315224022972/0001493152-24-022972-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1449792/000149315224022972/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-022972
- JSON: https://secwatch.observer/filing/0001493152-24-022972.json
- Plain text: https://secwatch.observer/filing/0001493152-24-022972.txt

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