Financial Data and Key Metrics Changes - The company reported a third quarter revenue of $6.4 million for the Critical Power Business segment, a 130% increase compared to $2.8 million in the same quarter last year [26] - Gross profit for the critical power segment was $1.5 million, resulting in a gross margin of approximately 24%, up from 16% in the prior year [27] - Operating income for the critical power segment was $211,000, a significant improvement from an operating loss of $621,000 in the same quarter last year [29] - The company updated its revenue guidance for 2024 to between $21 million and $23 million from continuing operations [30] Business Line Data and Key Metrics Changes - The e-Boost business generated approximately $3 million in revenue during the third quarter from a contract in Canada, compared to only $1 million for all of 2023 [26][27] - The total backlog for the critical power segment, including e-Boost, was approximately $24 million, a 45% increase compared to year-end 2023 [10] Market Data and Key Metrics Changes - The company expects to generate approximately $17 million in revenue from the sale and rental of equipment and over $10 million from service and maintenance in 2025 [16] - The backlog is primarily driven by school bus-related orders and municipal electric fleet orders [52] Company Strategy and Development Direction - The company plans to launch a home e-Boost product in early 2025, targeting residential and smaller commercial markets [17] - The company is exploring strategic acquisitions of businesses with at least $25 million in revenue that complement its current e-Boost platform [22] - The company aims to increase its rental revenue, budgeting $2.5 million for 2025 and targeting over $4 million in 2026 [39] Management's Comments on Operating Environment and Future Outlook - Management highlighted strong demand from municipalities and utilities for electrification of vehicle fleets, including electric buses and sanitation vehicles [36][38] - The company is confident in its ability to meet its revenue guidance for 2025, projecting revenue between $27 million and $29 million [15][30] Other Important Information - The company declared a one-time special cash dividend of $1.50 per share, payable on January 7, 2025 [8] - The company received approximately $48 million in cash from the sale of its Pioneer custom electrical products business unit [6][24] Q&A Session Summary Question: Demand drivers for 2025 - Management noted that demand is driven by repeat orders and new customer wins, particularly from government and municipal sectors [36] Question: Business model preference between rental and sales - Management expressed a preference for increasing rental agreements, especially with credit-worthy customers, while acknowledging that many municipalities prefer outright purchases [39] Question: Production capacity and expansion plans - Management indicated that they are working with subcontractors to expand capacity without significant fixed costs and do not plan to expand their current facilities [42][43] Question: Gross margins on recent orders - Management confirmed that the recent $3 million order was a sale with gross margins around 35%, which exceeded expectations due to effective subcontractor collaboration [48][49] Question: Backlog composition and customer diversity - Management stated that the backlog is primarily composed of school bus-related orders and municipal fleet orders, with contracts typically ranging from one to three years [51][52] Question: M&A targets and strategy - Management is open to potential acquisition targets that are compelling and accretive, but there is no rush to pursue them [55] Question: SG&A outlook - Management expects SG&A expenses to be around $1 million for the critical power business, with corporate overhead expected to be approximately 12% of revenue [60]

Summary of Pioneer Power Solutions, Inc. Conference Call Company Overview - **Company**: Pioneer Power Solutions, Inc. (NASDAQ:PPSI) - **Date of Call**: October 30, 2024 - **Key Participants**: Nathan Mazurek (CEO), Walter Michalec (CFO), Geo Murickan (President and CEO of Pioneer Power Mobility) [6][3] Key Industry and Company Insights Sale of PCEP Business Unit - Pioneer sold its Pioneer Custom Electrical Products Corp. (PCEP) business to Mill Point Capital for approximately **$50 million** in cash and the assumption of certain liabilities [6][10] - The sale allows Pioneer to focus on its eMobility business, which is expected to have a higher growth potential compared to the E-Bloc business [9][8] - The decision to sell was influenced by the need to avoid shareholder dilution and to finance growth without external debt [9][41] Financial Position Post-Sale - Pioneer has zero debt and has self-funded all R&D and capital expenditures since August 2019 [12] - Following the sale, Pioneer has over **$50 million** in cash on hand [12] e-Boost Business Growth - The e-Boost platform has seen significant growth, with over **19,000 unique vehicle charging sessions** and more than **600 megawatts** of sustainable off-grid power delivered [16] - The Critical Power division is projected to generate over **$20 million** in revenue for the year [16] Product Innovations - Introduction of various e-Boost products, including: - **e-Boost Mini**: Skid-based fast charging solution - **e-Boost Mobile**: Trailer-based fast charging solution - **e-Boost GOAT**: Truck-integrated DC fast charging solution - **e-Boost POD**: High-capacity charging system in a shipping container [14][20] - Launch of **HOMe-Boost**, a residential market-focused solution that operates on existing natural gas lines, expected to enter the market in early 2025 [17][19] Market Demand and Backlog - The backlog for the Critical Power division increased to **$24 million**, a **45%** increase from the previous period [22] - Demand drivers include: - Electrification of transit bus fleets - Adoption by municipalities and utilities for electrification of service vehicles [27][28] M&A Strategy - The company is exploring M&A opportunities to enhance the e-Boost segment, targeting businesses with at least **$25 million** in annual revenue that are not financially struggling [24][25] Competitive Landscape - Pioneer has established a competitive edge through R&D and customized solutions, differentiating itself from smaller startups in the market [50][51] - The company has integrated advanced monitoring and servicing technology into its products, providing added value to customers [52] Future Outlook - The company anticipates strong demand growth, with potential annual growth rates of **20-25%** for the e-Boost business [43] - Plans to provide more detailed financial guidance for 2025 in the upcoming earnings call [67] Additional Important Points - The company has been proactive in addressing market needs, including the introduction of mobile flexible power solutions for battery energy storage systems and hydrogen fueling stations [20] - The management emphasized the importance of maintaining profitability while pursuing growth [43][44] This summary encapsulates the key points discussed during the conference call, highlighting the strategic direction and financial health of Pioneer Power Solutions, Inc.

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-35212 Critical Accounting Estimates FORM 10-K ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware 27-1347616 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Securities registered pursuant to Section 12(g) of the Act: None To date, no cybersecurity incident (or aggregation of incidents) or cyberse ...

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) Q4 2023 Earnings Conference Call April 1, 2024 5:00 PM ET Company Participants Brett Maas - Hayden Investor Relations Nathan Mazurek - Chairman and Chief Executive Officer Walter Michalec - Chief Financial Officer Conference Call Participants Robert Brown - Lake Street Capital Markets, LLC Amit Dayal - H. C. Wainwright & Co. Andrew Parker - Horizon Kinetics LLC Operator Good afternoon, everyone. Welcome to today's Pioneer Power 2023 Fourth Quarter and Year-End Fin ...

Revenue Performance - Revenue for 2023 was $40.8 million, a 51.1% increase from $27.0 million in 2022[4]. - The company expects revenue of $52 to $54 million for 2024, indicating approximately 30% year-over-year growth, with EPS guidance of $0.31 to $0.34[15]. - Revenue from the Electrical Infrastructure segment increased by 71% in 2023, while revenue from the Critical Power Solutions segment increased by 16%[11]. - Consolidated revenue for Q4 2023 was $7.7 million, a 19% decrease from $9.5 million in Q4 2022, primarily due to order timing shifts[7]. Profitability - Gross profit reached $10.4 million, with a gross margin of 25.5%, compared to $4.6 million and 17.1% in 2022, representing a 125% increase in gross profit and an 840 basis point increase in margin[4]. - Gross profit for Q4 2023 was $1.8 million, or 22.7% of revenue, down from $2.8 million, or 29% of revenue in Q4 2022[8]. - Net income for 2023 was $138,000, or $0.01 per share, compared to a net loss of $3.6 million, or $(0.37) per share in 2022, an improvement of $3.7 million[4]. Backlog and Deliveries - Total backlog increased to $45.9 million as of December 31, 2023, up 36% sequentially from $33.6 million as of September 30, 2023[4]. - The company delivered $9 million of E-Bloc products to a major automaker and $6 million to three California water districts in 2023[6]. Tax and Losses - The company had $14.6 million of federal net operating loss carryforwards as of December 31, 2023[4].

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) Q3 2023 Earnings Conference Call November 15, 2023 9:00 AM ET Company Participants Brett Maas - Hayden IR Nathan Mazurek - President, CEO & Chairman Walter Michalec - CFO, Treasurer & Secretary Geo Murickan - President of Pioneer's eMobility business Conference Call Participants Amit Dayal - H.C. Wainwright Albert Jones - Jones Capital Management Operator Greetings and welcome to the Pioneer’s 2023 Third Quarter Financial Results. [Operator Instructions]. As a rem ...

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 September 30, 2023 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 ...

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) Q2 2023 Earnings Call Transcript August 14, 2023 5:00 PM ET Company Participants Kim Rogers - Hayden IR Nathan Mazurek - President, CEO & Chairman Walter Michalec - CFO, Treasurer & Secretary Conference Call Participants Sameer Joshi - H. C. Wainwright David Kreinberg - Globus Capital Operator Good afternoon and welcome to the Pioneer Power Solutions 2023 Second Quarter Financial Results Conference Call. [Operator Instructions]. Please note this event is being rec ...

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, 2023 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 or ...

Pioneer Power Solutions, Inc. (NASDAQ:PPSI) Q1 2023 Earnings Conference Call May 15, 2023 4:30 PM ET Company Participants Brett Maas - Hayden IR Nathan Mazurek - President, CEO & Chairman Walter Michalec - CFO, Treasurer & Secretary Conference Call Participants Amit Dayal - H.C. Wainwright & Co. Shawn Boyd - Next Mark Capital Operator Good afternoon, and welcome to the Pioneer Power First Quarter 2023 Financial Results Conference Call. [Operator Instructions]. Please note this event is being recorded. I wou ...