Pioneer Power Solutions(US:PPSI)2025-11-13 21:14Revenue Performance - Q3 2025 revenue was $6.9 million, an increase of 7.4% compared to $6.4 million in Q3 2024[6] - Year-to-date revenue reached $22.0 million, up 68% year-over-year[1] - Full-year 2025 revenue guidance reaffirmed at $27 million to $29 million, representing approximately 20% growth year-over-year[2] - Revenues for the three months ended September 30, 2025, increased to $6,888 million, up from $6,416 million in the same period of 2024, representing a growth of 7.3%[30] Profitability and Loss - Gross profit for Q3 2025 was $640,000, with a gross margin of 9.3%, down from $1.5 million and 23.7% in Q3 2024[11] - Operating loss from continuing operations was $(1.4) million, compared to $(714,000) in Q3 2024[13] - Net loss from continuing operations was $(1.8) million for Q3 2025, compared to $(738,000) in Q3 2024[14] - Gross profit for the nine months ended September 30, 2025, was $2,102 million, a decrease from $2,698 million in 2024, reflecting a decline of 22.1%[30] - Operating loss from continuing operations for the three months ended September 30, 2025, was $(1,447) million, compared to $(714) million in 2024, indicating a worsening of 102.1%[30] - Net loss for the nine months ended September 30, 2025, was $(4,607) million, slightly higher than $(4,439) million in 2024, showing an increase of 3.8%[30] - Basic loss per share for the three months ended September 30, 2025, was $(0.21), compared to $(0.10) in 2024, reflecting a decline of 110%[30] - Non-GAAP operating loss from continuing operations for the three months ended September 30, 2025, was $(196) million, compared to an income of $865 million in 2024, a significant decline[36] Cash and Assets - As of September 30, 2025, the company had $17.3 million in cash and no bank debt, down from $41.6 million at the end of 2024[16] - Total current assets decreased to $29,047 million as of September 30, 2025, from $56,657 million as of December 31, 2024, a drop of 48.7%[32] - Cash at the end of the period was $17,336 million, down from $41,622 million at the beginning of the year, a decrease of 58.3%[34] - Net cash used in operating activities for the nine months ended September 30, 2025, was $(4,780) million, compared to $(4,118) million in 2024, indicating an increase of 16.1%[34] Significant Projects and Developments - The company received a $981,000 cash dividend from Voltaris Power LLC, recorded as a reduction in the investment account[6] - Significant project wins included a $1.3 million school bus electrification project and a $1.2 million fleet electrification contract with the City of Portland[6] - The company expects to launch its next-generation home power system, PowerCore, in the near future, enhancing its consumer technology offerings[9] Liabilities - Total liabilities decreased to $6,881 million as of September 30, 2025, from $30,522 million as of December 31, 2024, a reduction of 77.5%[32]