---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-015719"
form_type: "8-K"
ticker: "PPSI"
cik: "0001449792"
company_name: "PIONEER POWER SOLUTIONS, INC."
filed_at: "2026-04-08T23:59:59+00:00"
generated_at: "2026-05-15T06:53:02.985931+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- Full year 2025 revenue $27.6M, +20.8% YoY; net loss $(6.0)M vs net income $31.9M in 2024.
- Q4 2025 revenue $5.6M, -42.3% YoY; gross margin 23.5% vs 28.9% in prior-year quarter.
- Operating loss from continuing operations $(6.6)M for FY 2025, compared to $(5.2)M in 2024.
- Backlog $12.6M at Dec 31, 2025, down from $19.8M; cash $15.0M (down from $41.6M, partly on $16.7M special dividend).
- Launched PRYMUS mobile distributed energy platform targeting Edge AI; initial orders secured in Q1 2026, shipments expected 2027.

## SEC filing metadata
- accession: 0001493152-26-015719
- form_type: 8-K
- ticker: PPSI
- cik: 0001449792
- company_name: PIONEER POWER SOLUTIONS, INC.
- filed_at: 2026-04-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- 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/1449792/000149315226015719/0001493152-26-015719-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1449792/000149315226015719/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-015719
- JSON: https://secwatch.observer/filing/0001493152-26-015719.json
- Plain text: https://secwatch.observer/filing/0001493152-26-015719.txt

## Key facts
- Earnings Releases
  PIONEER POWER SOLUTIONS, INC. reported the fourth quarter ended December 31, 2025 results: revenue $5.6 million, net income $(1.4) million.
  - Period: the fourth quarter ended December 31, 2025
  - Revenue: $5.6 million
  - Net income: $(1.4) million
  - Result: reported results
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1449792/000149315226015719/0001493152-26-015719-index.htm
- Earnings Releases
  PIONEER POWER SOLUTIONS, INC. reported the full year ended December 31, 2025 results: revenue $27.6 million, net income $(6.0) million.
  - Period: the full year ended December 31, 2025
  - Revenue: $27.6 million
  - Net income: $(6.0) million
  - Result: reported results
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1449792/000149315226015719/0001493152-26-015719-index.htm

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