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

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