Pioneer Power Q1 revenue falls 37% to $4.3M; gross margin soars to 13.6% from 2.2%; $6M PRYMUS award

PIONEER POWER SOLUTIONS, INC.

2026-Q1 EPS reported -$0.23 vs consensus -$0.11 ▼ miss (-105.0%)

Q1 revenue $4.3M vs $6.7M YoY; gross profit $582K (13.6% margin) vs $148K (2.2%)
Operating loss $2.0M (vs $2.3M); net loss $2.5M (vs $929K incl $1.1M discontinued ops)
Backlog $13.9M, up 11% from Dec 31; cash $13.6M; no bank debt
$6M PRYMUS award for two 1.2 MW systems from national logistics customer; delivery H2 2026
Cost cuts expected to reduce opex by $1.5M annually; first e-Boost unit shipped to UAE

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PIONEER POWER SOLUTIONS, INC. reported first quarter ended March 31, 2026 results: revenue $4.3 million, net income $2.5 million.

Period: first quarter ended March 31, 2026
Revenue: $4.3 million
Net income: $2.5 million
Result: reported results

Exact text from the filing

to more than $500,000 per month during the quarter, as reflected in the Company’s higher backlog levels as of March 31, 2026. Q1 2026 Financial Highlights ● Revenue was $4.3 million, compared to $6.7 million for the same quarter in 2025. ● Gross profit was $582,000, or a gross margin of 13.6%, as compared to $148,000, or a gross margin of 2.2%, for the

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Source: SEC EDGAR

accession 0001493152-26-024063

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