I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2026 Q2, the actual value is USD 5.019 M, beating the estimate of USD 4.785 M.
EPS: As of FY2026 Q2, the actual value is USD -0.19, missing the estimate of USD -0.13.
EBIT: As of FY2026 Q2, the actual value is USD -2.059 M.
Financial Highlights (Three Months Ended June 30)
Revenue
Revenue for the second quarter of 2026 was $5.0 million, a 40.0% decrease compared to $8.4 million for the same quarter in 2025, primarily due to a decrease in sales and rentals of Pioneer Power Solutions, Inc.’s mobile EV charging solutions, e-Boost.
Gross Profit and Margin
Gross profit for the second quarter of 2026 was $984,000, compared to $1.3 million for the same period in 2025. The gross margin increased to 19.6% in Q2 2026 from 15.7% in Q2 2025, primarily due to improved operating efficiencies associated with the sale of e-Boost.
Operating Loss from Continuing Operations
Operating loss from continuing operations was - $2.0 million for the three months ended June 30, 2026, compared to - $1.7 million for the same period in 2025, mainly due to decreased sales and rentals of equipment and services. Non-GAAP operating income from continuing operations was $44,000 in Q2 2026, down from $218,000 in Q2 2025.
Net Loss
Net loss was - $2.1 million for Q2 2026, compared to - $1.3 million for Q2 2025, which included a loss from discontinued operations of - $100,000.
Backlog
Backlog stood at $18.4 million as of June 30, 2026, an increase from $13.9 million at March 31, 2026.
Financial Highlights (Six Months Ended June 30)
Revenue
Revenue for the six months ended June 30, 2026, was $9,285 thousand, compared to $15,110 thousand for the same period in 2025.
Gross Profit
Gross profit for the six months ended June 30, 2026, was $1,565 thousand, compared to $1,462 thousand for the same period in 2025.
Total Operating Expenses
Total operating expenses were $5,591 thousand for the six months ended June 30, 2026, compared to $5,517 thousand for the same period in 2025.
Operating Loss from Continuing Operations
Operating loss from continuing operations was - $4,026 thousand for the six months ended June 30, 2026, compared to - $4,055 thousand for the same period in 2025. Non-GAAP operating loss from continuing operations was - $338 thousand for the six months ended June 30, 2026, compared to - $490 thousand for the same period in 2025.
Net Loss
Net loss for the six months ended June 30, 2026, was - $4,567 thousand, compared to - $2,257 thousand for the same period in 2025.
Balance Sheet (As of June 30, 2026)
Cash on Hand
The Company had $10.7 million of cash on hand as of June 30, 2026, down from $15.0 million as of December 31, 2025.
Working Capital
Working capital was $17.1 million as of June 30, 2026, compared to $20.7 million as of December 31, 2025.
Bank Debt
Pioneer Power Solutions, Inc. reported no bank debt as of June 30, 2026.
Cash Flow (Six Months Ended June 30)
Net Cash Used in Operating Activities
Net cash used in operating activities was - $3,626 thousand for the six months ended June 30, 2026, compared to - $3,963 thousand for the same period in 2025.
Net Cash Used in Investing Activities
Net cash used in investing activities was - $604 thousand for the six months ended June 30, 2026, compared to - $2,940 thousand for the same period in 2025.
Net Cash Used in Financing Activities
Net cash used in financing activities was - $61 thousand for the six months ended June 30, 2026, compared to - $16,720 thousand for the same period in 2025.
Net Decrease in Cash
Net decrease in cash was - $4,291 thousand for the six months ended June 30, 2026, compared to - $23,623 thousand for the same period in 2025.
Second Half 2026 Outlook
Management projects revenue of approximately $15.0 million for the second half of 2026, representing over 60% growth compared to the first half of 2026. The Company anticipates increasingly evident benefits from streamlining its organization and aligning its cost structure in the second half of the year. Additionally, Pioneer Power Solutions, Inc. expects to receive additional significant PRYMUS orders and begin PowerCore shipments in the second half of 2026.