Pioneer Power Q4 revenue drops 42% YoY; FY 2025 revenue up 21% to $27.6M, net loss $6.0M

Q4 2025 Financial Highlights ● Revenue was $5.6 million, compared to $9.8 million for the same quarter in 2024. ● Gross profit was $1.3 million, or a gross margin of 23.5%, as compared to $2.8 million, or a gross margin of 28.9%, for the same quarter in 2024. ● Operating loss was $(1.1) million, unchanged from $(1.1) million for the same quarter in 2024. ● Non–GAAP operating income* from continuing operations, which excludes corporate overhead expenses, research and development expenses, depreciation and amortization expenses and non-recurring professional fees, was $589,000, as compared to $1.9 million for the same quarter in 2024. ● Net loss was $(1.4) million, inclusive of loss from discontinued operations of $(17,500), as compared to net income of $36.3 million, inclusive of income from discontinued operations of $35.5 million, in the year ago quarter.

Full Year 2025 Financial Highlights ● Revenue was $27.6 million, up 20.8% and in-line with Company guidance, compared to $22.9 million for the year ended December 31, 2024. ● Gross profit was $3.4 million, or a gross margin of 12.4%, as compared to $5.5 million, or a gross margin of 24.1%, for the year ended December 31, 2024. ● Operating loss from continuing operations was $(6.6) million, as compared to $(5.2) million for the year ended December 31, 2024. ● Non–GAAP operating loss* from continuing operations, which excludes corporate overhead expenses, research and development expenses, depreciation and amortization expenses and non-recurring professional fees, was $(98,000), as compared to non-GAAP operating income of $2.5 million for the year ended December 31, 2024. ● Net loss was $(6.0) million, inclusive of income from discontinued operations of $449,000, as compared to net income of $31.9 million, inclusive of income from discontinued operations of $35.2 million, for the year en