PIONEER POWER SOLUTIONS INC
For the period ended Dec 31, 2024. Filed Apr 15, 2025.
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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.
FY2024 · Filed Apr 15, 2025
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)
| For the Years Ended | ||
|---|---|---|
| December 31, | ||
| 2024 | 2023 | |
| Operating activities | ||
| Net income (loss) | $31,855 | $(1,898) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation | 716 | 397 |
| Amortization of right-of-use financing leases | 129 | 324 |
| Amortization of right-of-use operating leases | 224 | 690 |
| Change in allowance for credit losses | 35 | 97 |
| Stock-based compensation | 1,055 | 1,471 |
| Gain on sale of PCEP business | (35,044) | - |
| Loss on disposal of fixed assets | 177 | - |
| Other | - | (14) |
| Changes in current operating assets and liabilities: | ||
| Accounts receivable | (10,360) | 585 |
| Inventories | (14,536) | 511 |
| Prepaid expenses and other assets | 4,558 | (4,982) |
| Assets held for sale | 14,320 | - |
| Liabilities held for sale | (9,468) | - |
| Accounts payable, accrued liabilities and other liabilities | 11,609 | 5,361 |
| Income taxes | (1,418) | (7) |
| Deferred revenue | 684 | (5,727) |
| Operating lease liabilities | (748) | (703) |
| Net cash used in operating activities | (6,212) | (3,895) |
| Investing activities | ||
| Purchase of property and equipment | (3,759) | (2,496) |
| Proceeds from sale of PCEP business, net of transaction costs | 42,635 | - |
| Net cash provided by/(used in) investing activities | 38,876 | (2,496) |
| Financing activities | ||
| Net proceeds from the exercise of options for common stock | 519 | 50 |
| Net proceeds from issuance of common stock | 4,986 | 177 |
| Payment of deferred financing costs | - | (195) |
| Principal repayments of financing leases | (129) | (355) |
| Net cash provided by/ (used in) financing activities | 5,376 | (323) |
| Increase (decrease) in cash | 38,040 | (6,714) |
| Cash | ||
| Cash, beginning of year | 3,582 | 10,296 |
| Cash, end of year | $41,622 | $3,582 |
| Supplemental cash flow information: | ||
| Interest paid | $35 | $7 |
| Income taxes paid, net of refunds | 7 | 2 |
| Non-cash investing and financing activities: | ||
| Surrender and retirement of common stock | 344 | 720 |
| Acquisition of right-of-use assets and lease liabilities | 330 | - |
| Property and equipment obtained in exchange for accounts payable | 272 | - |
| Cash dividend declared | 16,665 | - |
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