Pioneer Power Solutions (PPSI) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 was $5.0M, down 40% year-over-year, and $9.3M for the first half, down 39% year-over-year, mainly due to lower sales and rentals of mobile EV charging solutions.

• Gross margin improved to 19.6% in Q2 2026 from 15.7% in Q2 2025, driven by operating efficiencies.

• Operating loss for Q2 2026 was $2.0M, a 17% increase from Q2 2025; net loss for the first half was $4.6M.

• Backlog as of June 30, 2026, was $18.4M, up 2.6% from the prior year.

Financial highlights

• Q2 2026 revenue: $5.0M (Q2 2025: $8.4M); H1 2026 revenue: $9.3M (H1 2025: $15.1M).

• Q2 2026 gross profit: $984K (Q2 2025: $1.3M); H1 2026 gross profit: $1.6M (H1 2025: $1.5M).

• Q2 2026 net loss: $2.1M (Q2 2025: $1.3M); H1 2026 net loss: $4.6M (H1 2025: $2.3M).

• Basic and diluted loss per share for H1 2026: $(0.41) (H1 2025: $(0.21)).

• Cash on hand at June 30, 2026: $10.7M; working capital: $17.1M.

Outlook and guidance

• Management expects cash balance and working capital to be sufficient to fund operations for the next twelve months.

• Product development and promotional activities are expected to continue, with ongoing investments in new initiatives.