PIONEER POWER SOLUTIONS INC
For the period ended Dec 31, 2023. Filed Jul 26, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Jul 26, 2024
PPSI$2.22-1.8%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(In thousands)
| Year Ended | ||
|---|---|---|
| December 31, | ||
| 2023 | 2022 (Restated) | |
| Operating activities | ||
| Net loss | $(1,898) | $(5,419) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 397 | 228 |
| Amortization of right-of-use financing leases | 324 | 238 |
| Amortization of right-of-use operating leases | 690 | 663 |
| Amortization of imputed interest | - | (455) |
| Change in receivable reserves | 97 | (140) |
| Stock-based compensation | 1,471 | 1,002 |
| Other | (14) | - |
| Changes in current operating assets and liabilities: | ||
| Accounts receivable | 585 | (7,441) |
| Inventories | 511 | (3,931) |
| Prepaid expenses and other assets | (4,982) | (1,799) |
| Income taxes | (7) | 28 |
| Accounts payable and accrued liabilities | 5,361 | 3,670 |
| Deferred revenue | (5,727) | 8,237 |
| Operating lease liabilities | (703) | (653) |
| Net cash used in operating activities | (3,895) | (5,772) |
| Investing activities | ||
| Purchases of property and equipment | (2,496) | (1,512) |
| Collection of notes receivable | - | 6,234 |
| Net cash (used in)/ provided by investing activities | (2,496) | 4,722 |
| Financing activities | ||
| Net proceeds from the exercise of options for common stock | 50 | 17 |
| Net proceeds from issuance of common stock | 177 | - |
| Payment to affiliates | - | (129) |
| Payment of deferred financing costs | (195) | - |
| Principal repayments of financing leases | (355) | (241) |
| Net cash used in financing activities | (323) | (353) |
| Decrease in cash | (6,714) | (1,403) |
| Cash, beginning of period | 10,296 | 11,699 |
| Cash, end of period | $3,582 | $10,296 |
| Supplemental cash flow information: | ||
| Interest paid | $7 | $4 |
| Income taxes paid, net of refunds | 2 | (20) |
| Non-cash investing and financing activities: | ||
| Acquisition of right-of-use assets and lease liabilities | - | 841 |
| Surrender and retirement of common stock | 720 | - |
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