The revenue and EPS miss are significant, but the PRYMUS award and backlog growth suggest a potential inflection point. Monitor the next quarter for PRYMUS revenue recognition and whether cost cuts improve the operating loss trajectory. The stock may trade on the new platform narrative rather than the legacy e-Boost decline.
Price Chart
Executive Summary
Pioneer Power reported Q1 2026 revenue of $4.3M (-36.7% YoY), well below the $5.3M consensus, and a GAAP EPS of -$0.23, a 130% miss vs the -$0.10 consensus. The headline numbers are weak, driven by a sharp decline in e-Boost sales. However, the company highlighted a $6M PRYMUS award, a sequential backlog increase to $13.9M, and cost-cutting actions expected to save $1.5M annually. The mixed picture of deteriorating current results versus promising new platform traction keeps the sentiment neutral.
Key Financial Metrics
Key Facts
- Q1 2026 revenue of $4.3M, down 36.7% YoY from $6.7M, and below $5.3M consensus
- GAAP EPS of -$0.23, a 130% miss vs consensus of -$0.10
- Gross margin improved to 13.6% from 2.2% in the prior-year quarter
- Operating loss improved to -$2.0M from -$2.3M YoY
- Backlog grew 11% sequentially to $13.9M from $12.6M at year-end 2025
- Received a $6M award for two PRYMUS 1.2 MW systems from a national logistics customer
- Implemented cost reduction initiatives expected to lower operating expenses by ~$1.5M annually
- Cash on hand $13.6M, down from $15.0M at year-end 2025; no bank debt
Financial Impact
Revenue miss of ~$1M vs consensus; EPS miss of -$0.13 vs consensus; $6M PRYMUS award provides partial offset
Risk Factors
- Continued revenue decline in the core e-Boost business
- Execution risk on PRYMUS and PowerCore commercial ramp
- Cash burn rate: $1.4M decline in cash during Q1, with $13.6M remaining
- No formal guidance provided; reliance on forward-looking statements
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-024063 |
| Document: form8-k.htm | 0001493152-26-024063 |
| Document: 0001493152-26-024063-index-headers.html | 0001493152-26-024063 |
| Document: 0001493152-26-024063-index.html | 0001493152-26-024063 |
| Document: 0001493152-26-024063.txt | 0001493152-26-024063 |
| 8-K Data (Synthetic) | 0001493152-26-024063 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 22, 2026 5w ago | DEFA14A | $3.41 $2.70 | ▼ −20.82% | ▼ −20.26% | $2.64 (−22.58%) |
Sep 22, 2026 5w ago | DEF 14A | $3.41 $2.70 | ▼ −20.82% | ▼ −20.26% | $2.64 (−22.58%) |
Sep 11, 2026 6w ago | EFFECT | $3.06 $3.08 | ▼ −0.49% | ▲ +1.38% | $2.64 (+13.73%) |
Aug 17, 2026 10w ago | 8-K | $2.94 $3.02 | ▲ +2.72% | ▲ +4.70% | $2.64 (−10.20%) |
May 18, 2026 23w ago | 8-K | $4.02 $4.39 | ▲ +9.20% | ▲ +7.62% | $2.64 (−34.33%) |
May 18, 2026 23w ago | 8-K | $4.02 $4.39 | ▲ +9.20% | ▲ +7.62% | $2.64 (−34.33%) |
Apr 8, 2026 28w ago | 8-K | $2.50 $4.34 | ▲ +73.60% | ▲ +66.03% | $2.64 (+5.60%) |
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