Pioneer Power Solutions, Inc. had a successful third quarter with revenue reaching $6.9 million, up 7.4% year over year. Year-to-date revenue hit $22 million, driven by demand for eBoost mobile charging solutions. The company completed a $1.3 million school district project and delivered a 175-kilowatt unit to Portland in the fleet electrification market.
In addition to these achievements, Pioneer Power Solutions, Inc. secured a $725,000 order for an off-grid EV charging system from Long Beach, California. The company also received orders from an online retailer for new eBoost units, confirming the success of a previous pilot. Strategic partnerships with SparkCharge and expansion into the distributed power market further solidify Pioneer’s position in the industry.
Moving forward, Pioneer Power Solutions, Inc. is introducing a pre-engineered scalable power block system to meet the energy needs of data centers, industrials, universities, and hospitals. The company is also rebranding its residential power unit as PowerCore, catering to both residential and light commercial markets. With a focus on growth and diversification, Pioneer is on track to achieve its 2025 revenue guidance of $27 million to $29 million.
Financially, the company reported a third-quarter revenue of $6.9 million, a 7% increase from the previous year. Despite a decrease in gross profit due to an unfavorable sales mix, Pioneer Power Solutions, Inc. remains optimistic about future growth. With cash on hand of $17.3 million and working capital of $22.8 million, the company is reaffirming its full-year revenue guidance of $27 million to $29 million.
In conclusion, Pioneer Power Solutions, Inc. is well-positioned for continued growth and expansion into new markets. With a focus on innovative products like PowerCore and strategic partnerships, the company is on track to achieve its revenue goals for 2025. Investors can expect further developments in the distributed power market and increased adoption of mobile charging solutions in various sectors.
Read more at Yahoo Finance: Pioneer Power (PPSI) Q3 2025 Earnings Transcript