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Pioneer Power Solutions, Inc. (PPSI) Q2 2025 Earnings Conference Call Transcript
Seeking Alpha· 2025-08-14 23:05
Core Viewpoint - Pioneer Power Solutions, Inc. reported strong financial results for the second quarter of 2025, continuing a positive trend in performance [4]. Group 1: Financial Performance - The company delivered strong financial results for Q2 2025, indicating ongoing growth and stability [4]. - The earnings conference call was held on August 14, 2025, to discuss these results and recent business highlights [3]. Group 2: Management Participation - The call featured key participants including Nathan Mazurek (Chairman and CEO), Walter Michalec (CFO), and Geo Murickan (President of Pioneer eMobility) [2]. - The conference included a Q&A session for participants to engage with management [2].
Pioneer Power Solutions(PPSI) - 2025 Q2 - Earnings Call Transcript
2025-08-14 21:30
Pioneer Power Solutions (PPSI) Q2 2025 Earnings Call August 14, 2025 04:30 PM ET Speaker0Greetings and welcome to the Pioneer Power Second Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mr.Myles of Hayden Investor Relations. Please go ahead.Speaker1Thank you, operator. The call today ...
Pioneer Power Solutions(PPSI) - 2025 Q2 - Quarterly Results
2025-08-14 20:06
Exhibit 99.1 Pioneer Power Reports Robust Revenue Growth of 147% in Second Quarter 2025 Q2 Revenue of $8.4 Million; First-Half 2025 Revenue Grows 125% to $15.1 Million Reaf irms Full-Year 2025 Revenue Guidance of $27 Million to $29 Million FORT LEE, N.J., August 14, 2025 /BusinessWire/ — Pioneer Power Solutions, Inc. (Nasdaq: PPSI) ("Pioneer" or the "Company"), a leader in the design, manufacture, service and integration of distributed energy resources, power generation equipment and mobile electric vehicle ...
Pioneer Power Solutions(PPSI) - 2025 Q2 - Quarterly Report
2025-08-14 20:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (212) 867-0700 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Commission file number: 001-35212 PIONEER POWER SOLUTIONS, INC ...
Pioneer Power Solutions(PPSI) - 2025 Q1 - Earnings Call Transcript
2025-05-19 21:32
Pioneer Power Solutions (PPSI) Q1 2025 Earnings Call May 19, 2025 04:30 PM ET Company Participants Brett Maas - Managing PartnerNathan Mazurek - Chairman, Chief Executive OfficerWalter Michalec - Chief Financial Officer Conference Call Participants Rob Brown - Founding Partner & Senior Research AnalystNone - Analyst Operator Greetings and welcome to the Pioneer Power First Quarter twenty twenty five Earnings Conference Call. At this time, participants are in a listen only mode. A question and answer session ...
Pioneer Power Solutions(PPSI) - 2025 Q1 - Earnings Call Transcript
2025-05-19 21:30
Financial Data and Key Metrics Changes - First quarter revenue more than doubled to $6,700,000, an increase of 103% compared to $3,300,000 in the same quarter last year [13] - Gross profit for Q1 was $148,000, with a gross margin of approximately 2%, down from a gross profit of $535,000 and a 16% gross margin in the prior year [13] - Operating loss from continuing operations was $2,300,000, compared to a loss of $1,700,000 in the first quarter of the previous year [14] - Net loss from continuing operations was $2,100,000, compared to a net loss of $1,700,000 in the same quarter last year [15] - Total backlog at the end of Q1 was $23,200,000, an increase of 18% compared to the prior quarter [6] Business Line Data and Key Metrics Changes - The primary contributor to revenue growth was the initial completion of 10 eBoost units for a major public school district, part of a larger order for 25 units [4][5] - The sales pipeline for eBoost solutions is expanding, with active discussions with municipalities, transit authorities, and major delivery providers [7] Market Data and Key Metrics Changes - The company is experiencing increased demand for on-site power solutions, particularly in the electric vehicle charging sector [4] - The HomeBoost platform is positioned to meet growing energy demands in residential and light commercial markets [9] Company Strategy and Development Direction - The company aims to improve gross margins as production efficiencies are realized with ongoing orders [6][14] - HomeBoost is expected to be a significant growth driver in 2026 and beyond, with a focus on launching the product in the second half of 2025 [10][27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in recovering margins in the second half of the year as production processes improve [22] - The company reaffirmed its revenue guidance for 2025, projecting total revenue between $27,000,000 and $29,000,000 [15] Other Important Information - Cash on hand as of March 31, 2025, was $25,800,000, down from $41,600,000 at the end of 2024, primarily due to a special cash dividend [15] Q&A Session Summary Question: How do you see margins recovering? - Management indicated that margins should improve in the second half of the year as production processes become more efficient [22] Question: How is the eBoost pipeline shaping up for 2026 revenue? - Management noted that June is a reasonable cutoff for closing deals that would contribute to 2026 bookings [24] Question: Is HomeBoost suitable for users with solar panels? - Management confirmed that HomeBoost can operate in island mode, allowing users to disconnect from the grid if they have a natural gas connection [31] Question: How long will the eBoost market last? - Management believes the demand for mobile solutions will continue to grow due to challenges in obtaining grid connections [35] Question: How is the distribution network evolving? - Management highlighted the importance of channel partners and distributors in reaching municipalities and states, indicating a need for more intermediaries [50] Question: What is the focus for 2026 regarding HomeBoost? - Management stated that HomeBoost is occupying a significant portion of their attention, with plans to contract manufacturing to focus on design and marketing [55]
Pioneer Power Solutions(PPSI) - 2025 Q1 - Quarterly Report
2025-05-15 21:15
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-35212 PIONEER POWER SOLUTIONS, INC. (Exact name of registrant as specified in its charter) Delaware 27-1347616 (State or other jurisdiction of incorporation or o ...
Pioneer Power Solutions(PPSI) - 2025 Q1 - Quarterly Results
2025-05-15 21:10
Revenue Growth - Full year revenue for 2024 was $22.9 million, representing a 106% increase compared to $11.1 million in 2023[8] - Q4 2024 revenue reached $9.8 million, a 265% increase from $2.7 million in Q4 2023, primarily driven by increased shipments and rentals of mobile EV charging equipment[9] - Revenues for the year ended December 31, 2024, increased to $22,879 million, up from $11,116 million in 2023, representing a growth of 105%[33] Profitability - Gross profit for 2024 was $5.5 million, with a gross margin of 24%, compared to $2.2 million and a 20% gross margin in 2023[15] - Net income for 2024 was $31,855 million, a significant turnaround from a net loss of $1,898 million in 2023[33] - Basic earnings per share for 2024 was $2.97, compared to a loss of $0.19 per share in 2023[33] Operating Performance - Operating loss from continuing operations for 2024 was $(5.2) million, an improvement of approximately $1.8 million or 25% from $(7.0) million in 2023[16] - Non-GAAP operating income from continuing operations for 2024 was $1.7 million, compared to a non-GAAP operating loss of $(1.3) million in 2023, marking a year-over-year improvement of approximately $3.0 million[8] - Operating loss from continuing operations improved to $(5,248) million in 2024 from $(7,035) million in 2023[39] Cash and Assets - Cash on hand increased to $41.6 million at the end of 2024, compared to $3.6 million at the end of 2023, reflecting an increase of approximately $38.0 million[19] - Total current assets increased to $56,657 million in 2024 from $27,683 million in 2023, a growth of 104%[35] - Cash balance at the end of 2024 was $41,622 million, a substantial increase from $3,582 million at the end of 2023[37] Liabilities and Financial Obligations - Total liabilities rose to $30,522 million in 2024, up from $18,804 million in 2023, indicating increased financial obligations[35] Backlog and Future Guidance - The backlog as of December 31, 2024, was $19.8 million, up from $16.7 million a year earlier, indicating a year-over-year increase of $3.1 million[8] - The company reaffirmed its revenue guidance for 2025, expecting revenue between $27 million and $29 million[20] Research and Development - Research and development expenses for 2024 were $1,050 million, up from $885 million in 2023, indicating continued investment in innovation[39] Charging Sessions - The number of charging sessions increased to 14,500 in 2024, a 93% increase from 7,500 sessions in 2023[5] Investment Activities - The company reported a net cash provided by investing activities of $38,876 million in 2024, primarily from the sale of the PCEP business[37]
Pioneer Power Solutions(PPSI) - 2024 Q4 - Earnings Call Transcript
2025-04-15 20:30
Pioneer Power Solutions, Inc. (PPSI) Q4 2024 Earnings Conference Call April 15, 2025 04:30 PM ET Company Participants Brett Moss - Host, Hayden IRNot Provided - Investor Relations Representative (Introductions)Nathan Masaryk - Chairman and Chief Executive OfficerWalter Michalik - Chief Financial OfficerOperator - Teleconference Operator Conference Call Participants Rob Brown - Analyst, Lake Street Capital MarketsSamir Joshi - Analyst, HC Winrate Brett Moss This time, all participants are in a listen-only mo ...
Pioneer Power Solutions(PPSI) - 2024 Q4 - Earnings Call Transcript
2025-04-15 22:09
Financial Data and Key Metrics Changes - In Q4 2024, the company reported revenue from continuing operations of $9.8 million, a significant increase of 265% compared to $2.7 million in the same quarter last year [24][25] - Full-year 2024 revenue from continuing operations reached $22.9 million, up 106% from $11.1 million in 2023 [28] - The net income from continuing operations for Q4 2024 was $759,000, compared to a net loss of $1.4 million in Q4 2023, marking a year-over-year improvement of approximately $2.1 million [27] - The company narrowed its loss from continuing operations for the full year 2024 to $3.3 million, an improvement from a loss of $6.3 million in 2023 [30] Business Line Data and Key Metrics Changes - The eBoost mobile charging platform generated $22.9 million in revenue for 2024, more than double the $11.1 million reported in 2023, reflecting a year-over-year growth of 106% [9][28] - The critical power segment incurred an operating loss of $1.1 million in Q4 2024, an improvement from a loss of $1.9 million in Q4 2023 [26] - The backlog for the critical power segment, including eBoost, was $19.8 million at the end of 2024, a 19% increase compared to the end of 2023 [14] Market Data and Key Metrics Changes - The company is focusing on government and quasi-government sectors, particularly in transit and school bus markets, which are driving new demand [40] - The markets with robust demand include transit buses, school buses, electric truck and van fleets, and large government and corporate fleets [18] Company Strategy and Development Direction - Following the sale of the Pioneer Custom Electrical Products unit, the company is now more focused on its critical power business, particularly the eBoost platform [7][22] - The company is expanding its product line with the launch of HomeBoost, targeting high-end residential and light commercial segments [15][16] - The company aims to diversify revenue streams and drive sustained long-term growth through innovation and market expansion [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving or surpassing the revenue guidance for 2025, reaffirming a target of $27 to $29 million [19][32] - The company is well-positioned to capitalize on the increasing need for flexible off-grid charging solutions, supported by zero debt and cash on hand of $41.6 million [18][30] - Management acknowledged potential macroeconomic uncertainties but indicated that the current demand from government clients is strong and unlikely to reverse [64] Other Important Information - The company declared a one-time special cash dividend of $1.50 per share, totaling $16.7 million, payable on January 7, 2025 [8][32] - The gross profit margin for Q4 2024 was 29%, an increase from 23% in the same quarter last year, primarily driven by the growth in the eBoost business [25][52] Q&A Session Summary Question: What is driving the strong backlog and growth in eBoost? - Management indicated that the largest customer segment is government-related, particularly for transit and school buses [40] Question: How is the service equipment mix looking for 2025? - The company expects to generate approximately $2.5 million in lease and rental revenue for 2025 [42] Question: Can you provide an update on the HomeBoost product? - Management mentioned that the HomeBoost product is being redesigned to enhance its aesthetic appeal and functionality for high-end residential and commercial users [46] Question: Should we expect gross margins to remain at 29% going forward? - Management noted that the gross margins are expected to remain stable or improve slightly, depending on the mix of product and service sales [52] Question: What is the outlook for 2025 given the strong backlog? - Management expressed confidence in the 2025 revenue guidance, indicating that the majority of the year’s revenue is already secured [57] Question: Are there any macroeconomic factors that could impact the outlook for 2025? - Management acknowledged that while macroeconomic factors could affect the overall market, the current demand from government clients is strong and committed to electric solutions [64]