Pioneer Power Solutions (NASDAQ: PPSI) is a power equipment company that designs, manufactures, distributes, and services power generation and mobile EV charging solutions through its Critical Power segment. Revenue comes from equipment sales, including new and refurbished generator sets and the e-Boost suite of mobile EV charging products, plus recurring service and maintenance contracts running one to five years. The company sells directly to end users across critical infrastructure sectors, with a direct sales force and authorized representatives operating from U.S. office locations. Customer concentration is material: the 20 largest customers represented approximately 71% of consolidated revenue for the year ended December 31, 2025, with Eneridge, Inc. and SparkCharge each accounting for approximately 24% and 13% of sales, respectively, in that same period. The company served over 879 individual customers during FY2025. Service technicians and parts inventories are maintained in the Midwest and Florida, supplemented by a network of field representatives for broader geographic coverage.

Revenue model

Transactional equipment sales (new and refurbished generator sets, e-Boost mobile EV charging units) combined with recurring service and maintenance contracts of one to five years covering all makes and models of power generation equipment.

Products and services

e-Boost G.O.A.T. (truck-mounted mobile EV charging), e-Boost Mobile (trailer-mounted EV charging), e-Boost Pod (stationary EV charging with backup power capability), engine-generator sets up to 2 MW per unit (diesel, natural gas, liquid propane, bi-fuel), multi-unit paralleled generator configurations, uninterruptible power supply (UPS) systems, refurbished and resold used power generation equipment, and scheduled preventative maintenance and 24/7 repair and support services.

Customers and end markets

Major national retailers, hospitals, data centers, communications facilities, factories, military sites, office complexes, distributed generation companies, regulated and non-regulated utilities, industrial and wholesale sectors, fleet management companies, school bus operators, and state and local governments. Over 879 individual customers served in FY2025. Top 20 customers represented approximately 71% of consolidated revenue in FY2025.

Value-chain role

Designer, manufacturer, distributor, and service provider. Sources generator sets from third-party manufacturers and resells new and refurbished units. Maintains its own field service technician staff, service vehicle fleet, and repair parts inventory for ongoing customer maintenance.

Geographic exposure

99% of sales to U.S. customers and 1% to Canadian customers for the year ended December 31, 2025, compared to 87% U.S. and 13% Canadian for the year ended December 31, 2024. Field service operations concentrated in the Midwest and Florida.

Source: SEC 10-K, filed 2026-04-08

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