Revenue: As of FY2026 Q1, the actual value is USD 4.266 M, missing the estimate of USD 4.699 M.

EPS: As of FY2026 Q1, the actual value is USD -0.23, missing the estimate of USD -0.11.

EBIT: As of FY2026 Q1, the actual value is USD -2.176 M.

Segment Revenue

• Total Revenue: For the three months ended March 31, 2026, Pioneer Power Solutions, Inc. reported total revenue of $4.3 million, marking a 36.7% decrease compared to $6.7 million for the same quarter in 2025. This decrease was primarily attributed to reduced sales and rentals of the company’s mobile EV charging solutions, e-Boost.

Operational Metrics

• Gross Profit: Gross profit for Q1 2026 was $582,000, significantly up from $148,000 in Q1 2025.
• Gross Margin: The gross margin for Q1 2026 was 13.6%, an increase from 2.2% in Q1 2025, mainly due to improved operating efficiencies associated with e-Boost sales.
• Operating Loss from Continuing Operations: The operating loss from continuing operations was - $2.0 million for Q1 2026, an improvement of $326,000 compared to - $2.3 million for Q1 2025.
• Non-GAAP Operating Loss from Continuing Operations: This metric was - $380,000 for Q1 2026, an improvement from - $708,000 for Q1 2025.
• Net Loss: Net loss was - $2.5 million for Q1 2026, compared to - $929,000 for Q1 2025, with the prior year including $1.1 million income from discontinued operations.
• Net Loss from Continuing Operations: The net loss from continuing operations was - $2.5 million for Q1 2026, compared to - $2.1 million for Q1 2025.
• Operating Expenses:
  • Selling, general and administrative expenses were $2.446 million in Q1 2026, compared to $2.414 million in Q1 2025.
  • Research and development expenses were $156,000 in Q1 2026, compared to $80,000 in Q1 2025.
  • Total operating expenses were $2.602 million in Q1 2026, compared to $2.494 million in Q1 2025.

Cash Flow

• Net Cash Used in Operating Activities: For the three months ended March 31, 2026, net cash used in operating activities was - $887,000, a change from $1,502,000 provided by operating activities in the same period of 2025.
• Net Cash Used in Investing Activities: Net cash used in investing activities was - $459,000 for Q1 2026, compared to - $595,000 for Q1 2025.
• Net Cash Used in Financing Activities: Net cash used in financing activities was - $30,000 for Q1 2026, a significant decrease from - $16,689,000 for Q1 2025.

Unique Metrics

• Backlog: Backlog stood at $13.9 million as of March 31, 2026, an increase from $12.6 million at December 31, 2025.
• Cash on Hand: Cash on hand was $13.6 million at March 31, 2026, compared to $15.0 million at December 31, 2025.
• Working Capital: Working capital was $18.7 million at March 31, 2026, compared to $20.7 million at December 31, 2025.
• PRYMUS Award: Pioneer Power Solutions, Inc. secured a $6 million award for two PRYMUS® 1.2 megawatt distributed generation systems from a national logistics customer.
• e-Boost Order Activity: Order activity for e-Boost mobile EV charging systems averaged over $500,000 per month during Q1 2026.

Outlook / Guidance

Pioneer Power Solutions, Inc. anticipates that cost reduction initiatives implemented in late April 2026 will reduce annualized operating expenses by approximately $1.5 million. These savings are intended to be reinvested into PRYMUS and PowerCore, which are crucial for the company’s long-term growth strategy. The commercialization efforts for PowerCore remain on schedule for shipments to commence in the second half of 2026.