2022 Q4 Form 10-Q Financial Statement

#000138713122011381 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2022 Q1
Revenue $9.524M $6.251M $6.036M
YoY Change 172.27% 9.96% 72.46%
Cost Of Revenue $6.764M $5.390M $5.161M
YoY Change 94.76% 8.41% 54.52%
Gross Profit $2.760M $861.0K $875.0K
YoY Change 10940.0% 20.76% 446.88%
Gross Profit Margin 28.98% 13.77% 14.5%
Selling, General & Admin $2.000M $2.305M $1.746M
YoY Change 31.84% 87.25% 37.48%
% of Gross Profit 72.46% 267.71% 199.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $176.0K $40.00K $87.00K
YoY Change 61.47% -59.6% 117.5%
% of Gross Profit 6.38% 4.65% 9.94%
Operating Expenses $2.000M $2.305M $1.746M
YoY Change 31.84% 87.25% 37.48%
Operating Profit $760.0K -$1.444M -$871.0K
YoY Change -150.94% 178.76% -21.53%
Interest Expense $144.0K $116.0K $101.0K
YoY Change 45.45% 17.17% 12.22%
% of Operating Profit 18.95%
Other Income/Expense, Net $44.00K $17.00K -$11.00K
YoY Change -2300.0% -230.77% -81.67%
Pretax Income $948.0K -$1.311M -$781.0K
YoY Change -167.96% 203.47% -336.67%
Income Tax $0.00 $7.000K
% Of Pretax Income 0.0%
Net Earnings $948.0K -$1.311M -$788.0K
YoY Change -167.81% 202.07% -325.14%
Net Earnings / Revenue 9.95% -20.97% -13.06%
Basic Earnings Per Share -$0.13 -$0.08
Diluted Earnings Per Share $0.10 -$0.13 -$81.73K
COMMON SHARES
Basic Shares Outstanding 9.645M shares 9.645M shares 9.641M shares
Diluted Shares Outstanding 9.770M shares 9.641M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.30M $7.210M $13.14M
YoY Change 3.75% 113.82% 177.76%
Cash & Equivalents $10.30M $7.200M $13.14M
Short-Term Investments
Other Short-Term Assets $2.853M $840.0K $2.028M
YoY Change 0.32% -65.3% -27.05%
Inventory $8.748M $8.479M $6.965M
Prepaid Expenses
Receivables $11.14M $3.822M $10.03M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $33.04M $26.45M $32.16M
YoY Change 31.43% 109.98% 112.29%
LONG-TERM ASSETS
Property, Plant & Equipment $3.977M $794.0K $2.772M
YoY Change 670.74% -71.24% 66.99%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $162.0K $84.00K $49.00K
YoY Change 315.38% 281.82% 145.0%
Total Long-Term Assets $4.139M $2.994M $2.821M
YoY Change 48.24% -64.58% -60.49%
TOTAL ASSETS
Total Short-Term Assets $33.04M $26.45M $32.16M
Total Long-Term Assets $4.139M $2.994M $2.821M
Total Assets $37.18M $29.45M $34.98M
YoY Change 33.11% 39.87% 56.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.297M $3.433M $6.554M
YoY Change 297.18% -11.2% 52.42%
Accrued Expenses $1.624M $1.273M $643.0K
YoY Change 28.58% 107.67%
Deferred Revenue $6.621M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $355.0K $351.0K $204.0K
YoY Change
Total Short-Term Liabilities $18.96M $12.30M $14.72M
YoY Change 188.09% 77.32% 114.25%
LONG-TERM LIABILITIES
Long-Term Debt $418.0K $470.0K $352.0K
YoY Change
Other Long-Term Liabilities $1.280M $1.304M $1.074M
YoY Change -28.61% -20.39% -8.98%
Total Long-Term Liabilities $1.280M $1.304M $1.426M
YoY Change -28.61% 20.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.96M $12.30M $14.72M
Total Long-Term Liabilities $1.280M $1.304M $1.426M
Total Liabilities $20.24M $13.60M $16.15M
YoY Change 141.7% 53.2% 100.81%
SHAREHOLDERS EQUITY
Retained Earnings -$15.95M -$16.90M -$13.05M
YoY Change 29.55%
Common Stock $10.00K $10.00K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.93M $15.84M $18.84M
YoY Change
Total Liabilities & Shareholders Equity $37.18M $29.45M $34.98M
YoY Change 33.11% 39.87% 56.94%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2022 Q1
OPERATING ACTIVITIES
Net Income $948.0K -$1.311M -$788.0K
YoY Change -167.81% 202.07% -325.14%
Depreciation, Depletion And Amortization $176.0K $40.00K $87.00K
YoY Change 61.47% -59.6% 117.5%
Cash From Operating Activities -$1.710M -$2.315M $2.087M
YoY Change -46.23% 483.12% 253.73%
INVESTING ACTIVITIES
Capital Expenditures $1.121M -$217.0K -$112.0K
YoY Change -1483.95% 130.85%
Acquisitions
YoY Change
Other Investing Activities $6.234M
YoY Change
Cash From Investing Activities $5.113M -$217.0K -$112.0K
YoY Change -6412.35% 130.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -317.0K -43.00K -31.00K
YoY Change -103.23% -96.62% -98.12%
NET CHANGE
Cash From Operating Activities -1.710M -2.315M 2.087M
Cash From Investing Activities 5.113M -217.0K -112.0K
Cash From Financing Activities -317.0K -43.00K -31.00K
Net Change In Cash 3.086M -2.575M 1.944M
YoY Change -52.9% 46.14%
FREE CASH FLOW
Cash From Operating Activities -$1.710M -$2.315M $2.087M
Capital Expenditures $1.121M -$217.0K -$112.0K
Free Cash Flow -$2.831M -$2.098M $2.199M
YoY Change -8.65% 592.41% 272.71%

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us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
4198000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
1549000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-491000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-413000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3936000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-991000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
391000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
156000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-391000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-156000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
17000 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
1047000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
179000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
226000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-162000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1273000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-4489000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-2420000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11699000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7567000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7210000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5147000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
551000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1418000 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
12548000 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-434000 usd
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
58000 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
12172000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
17010000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-1311000 usd
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
143000 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
15842000 usd
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
13859000 usd
us-gaap Net Income Loss
NetIncomeLoss
-769000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
129000 usd
us-gaap Dividends
Dividends
1047000 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
12172000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
19552000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
19552000 usd
us-gaap Net Income Loss
NetIncomeLoss
-4586000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
859000 usd
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
17000 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
15842000 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
15842000 usd
us-gaap Basis Of Accounting
BasisOfAccounting
<p id="xdx_804_eus-gaap--BasisOfAccounting_z1Oi0YQ2ccKl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_820_zS8KxG1siWOi">BASIS OF PRESENTATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Overview</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pioneer Power Solutions, Inc. and its wholly owned subsidiaries (referred to herein as the “Company,” “Pioneer,” “Pioneer Power,” “we,” “our” and “us”) design, manufacture, integrate, refurbish, service, distribute and sell electric power systems, distributed energy resources, power generation equipment and mobile electric vehicle (“EV”) charging solutions. Our products and services are sold to a broad range of customers in the utility, industrial and commercial markets. Our customers include, but are not limited to, electric, gas and water utilities, data center developers and owners, EV charging infrastructure developers and owners, and distributed energy developers. The Company is headquartered in Fort Lee, New Jersey and operates from three (<span id="xdx_902_ecustom--NumberOfAdditionalLocations_c20220101__20220930_zVpvhsPDXkB6" title="Number of additional locations">3</span>) additional locations in the U.S. for manufacturing, service and maintenance, engineering, sales and administration.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have two reportable segments as defined in our Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2022: Transmission and Distribution Solutions (“T&amp;D Solutions”) and Critical Power Solutions (“Critical Power”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Presentation</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited interim consolidated financial statements of the Company have been prepared pursuant to the rules of the SEC and reflect the accounts of the Company as of September 30, 2022. Certain information and footnote disclosures, normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”), have been condensed or omitted pursuant to those rules and regulations. We believe that the disclosures made are adequate to make the information presented not misleading to the reader. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary to fairly state the financial position, results of operations and cash flows with respect to the interim consolidated financial statements have been included. The results of operations for the interim period are not necessarily indicative of the results for the entire fiscal year. The year-end balance sheet data was derived from audited financial statements but does not include all disclosures required by U.S. GAAP for a year-end balance sheet.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">All dollar amounts (except share and per share data) presented in the notes to our unaudited interim consolidated financial statements are stated in thousands of dollars, unless otherwise noted. Amounts may not foot due to rounding. ASC 740-270 requires the use of an estimated annual effective tax rate to compute the tax provision during an interim period unless certain exceptions are met. We have used a discrete-period computation method to calculate taxes for the fiscal three and nine-month periods ended September 30, 2022. Due to projected operating losses for the year, the Company anticipates that its annual effective tax rate will be <span id="xdx_901_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_dp_c20220101__20220930_zrzrpXEbJ7Pl" title="Effective tax rate">0</span>%. As of September 30, 2022, the Company continues to provide a <span id="xdx_903_ecustom--DeferredTaxAssetsValuationAllowancePercentage_iI_dp_c20220930_zWJ05H3tqWw3" title="Deferred tax assets valuation allowance percentage">100</span>% valuation allowance against its net deferred tax assets since the Company believes it is more likely than not that its deferred tax assets will not be realized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These unaudited interim consolidated financial statements include the accounts of Pioneer and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These unaudited interim consolidated financial statements should be read in conjunction with the risk factors under the heading “Part II - Item 1A. Risk Factors” and the risk factors and the audited consolidated financial statements and notes thereto of the Company and its subsidiaries included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Liquidity</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying financial statements have been prepared on a basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying financial statements as of September 30, 2022, the Company had $<span id="xdx_90C_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20220930_z1KSf3q5c2D1" title="Cash on hand">7.2</span> million of cash on hand and working capital of $<span id="xdx_90F_ecustom--WorkingCapitalDeficit_iI_pn5n6_c20220930_zDpLJxF2i5R8" title="Working capital">14.2</span> million. The cash on hand was generated primarily from the sale of common stock under the At The Market Sale Agreement during the year ended December 31, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have met our cash needs through a combination of cash flows from operating activities and bank borrowings, the completion of the Equity Transaction (as defined herein), proceeds from the sale of the CleanSpark Common Stock and warrants to purchase CleanSpark Common Stock, proceeds from insurance and the sale of common stock under the At The Market Sale Agreement and funding from the Payroll Protection Program. Our cash requirements historically were generally for operating activities, debt repayment, capital improvements and acquisitions. We expect to meet our cash needs with our working capital and cash flows from our operating activities. We expect our cash requirements to be generally for operating activities, product development and capital improvements. The Company expects that its current cash balance is sufficient to fund operations for the next twelve months.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On <span id="xdx_905_eus-gaap--DividendsPayableDateDeclaredDayMonthAndYear_dd_c20210531__20210601__us-gaap--DividendsAxis__us-gaap--DividendDeclaredMember_zyLt4fCGHf8g" title="Dividend date declared">June 1, 2021</span>, the board of directors of the Company declared a special cash dividend of $<span id="xdx_907_eus-gaap--DividendsPayableAmountPerShare_iI_pid_uUSDPShares_c20210601__us-gaap--DividendsAxis__us-gaap--DividendDeclaredMember_zpwNATIDAl75" title="Dividend amount (in dollars per share)">0.12</span> per common share, payable to shareholders of record as of<span id="xdx_900_eus-gaap--DividendsPayableDateOfRecordDayMonthAndYear_dd_c20210531__20210601__us-gaap--DividendsAxis__us-gaap--DividendDeclaredMember_zZofxcvn64Xe" title="Dividend record date"> June 22, 2021</span>, to be paid on <span id="xdx_90D_eus-gaap--DividendPayableDateToBePaidDayMonthAndYear_dd_c20210531__20210601__us-gaap--DividendsAxis__us-gaap--DividendDeclaredMember_zGVlbyISjZya" title="Dividend payment date">July 7, 2021</span>. The cash dividends were paid in July of 2021 and equaled $<span id="xdx_901_eus-gaap--DividendsPayableAmountPerShare_iI_pid_uUSDPShares_c20210707__us-gaap--DividendsAxis__us-gaap--DividendPaidMember_zORstwyp36f6" title="Dividend amount (in dollars per share)">0.12</span> per share on the $<span id="xdx_90E_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_uUSDPShares_c20210707__us-gaap--DividendsAxis__us-gaap--DividendPaidMember_zbgssXEyt5t1" title="Common stock, par value (in dollars per share)">0.001</span> par value common stock resulting in an aggregate distribution of approximately $1.0 million representing a capital repayment paid from additional paid-in capital (“APIC”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2021, the Company executed a cash collateral security agreement with a commercial bank, which agreement required us to pledge cash collateral as security for all unpaid reimbursement obligations owing to the commercial bank for an irrevocable standby letter of credit in the amount of $<span id="xdx_90F_eus-gaap--LettersOfCreditOutstandingAmount_iI_pdp0_dm_c20220930_zoHLrsK2jN1i" title="Irrevocable standby letter of credit">1.8 million</span>. During the first quarter of 2022, the Company amended its agreement with the commercial bank to decrease the required amount of cash collateral by $<span id="xdx_90E_ecustom--ReductionInRequiredCashCollateral_pdp0_dm_c20220101__20220331_ziRNgxAQzWc3" title="Reduction in required cash collateral">1.3 million</span>. On May 6, 2022, the Company received notice that the cash collateral security agreement it had executed with the commercial bank was cancelled. Upon cancellation of the cash collateral security agreement, any unpaid reimbursement obligations owing to the commercial bank were also cancelled. On May 11, 2022, the commercial bank released and transferred the remaining cash collateral of $<span id="xdx_901_ecustom--CashCollateralReleased_pn3n3_c20220510__20220511_zGiDM7pBDJKg" title="Cash collateral released">505</span> to the Company. The Company had no restricted cash on the consolidated balance sheets at September 30, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for restricted cash under the guidance of ASU No. 2016-18, Statement of Cash Flows - Restricted Cash (Topic 230), which requires the statement of cash flows to explain the change during the period in the total of cash, cash equivalents, and restricted cash and that restricted cash be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_896_eus-gaap--ScheduleOfCashAndCashEquivalentsTableTextBlock_zmbFwacFt2U6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B1_zCHmrEaUj5Nl">The following table provides a reconciliation of cash and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the unaudited interim consolidated statement of cash flows:</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20220930_zvMGRqEdHsM4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20211231_zkPuaYjGHcs6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--Cash_iI_maCzJ9S_zMMkAhtTDY89" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 59%">Cash</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">7,210</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">9,924</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--RestrictedCash_iI_maCzJ9S_zRqKVNSX3Kll" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0501">—</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,775</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iTI_mtCzJ9S_zBgIQCpuUdb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 10pt">Total cash and restricted cash as shown in the statement of cash flows</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,210</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">11,699</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AD_zcENRcb7S0f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>COVID-19</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The full impact of the COVID-19 pandemic and its ongoing effects continues to evolve as the date of this report. As such, it continues to be uncertain as to the full magnitude that the pandemic will have on the Company’s financial condition, liquidity, and future results of operations. The Company was able to operate substantially at capacity during the COVID-19 pandemic. Management is actively monitoring the global situation on its financial condition, liquidity, operations, suppliers, industry, and workforce. Given the daily evolution of the COVID-19 pandemic, its ongoing effects, and the global responses to the continuing crisis, the Company is not able to estimate the full effects of the COVID-19 pandemic and its ongoing effects at this time, however, if the ongoing effects of the COVID-19 pandemic continue or worsen, it may have an adverse effect on the Company’s results of operations, financial condition, or liquidity.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 27, 2020, then President Trump signed into law the “Coronavirus Aid, Relief, and Economic Security (CARES) Act” (the “CARES Act”). The CARES Act, among other things, appropriates funds for the SBA Paycheck Protection Program loans that are forgivable in certain situations to promote continued employment. On April 13, 2020, after having determined that it met the qualifications for this loan program due to the impact that COVID-19 would have on our financial condition, results of operations, and/or liquidity and applying for relief, the Company received a loan under the SBA Paycheck Protection Program (the “PPP Loan”) in the amount of $<span id="xdx_90A_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20200413__us-gaap--DebtInstrumentAxis__custom--PaycheckProtectionProgramLoanMember_zwnpK96pcT2j" title="Loan face value">1.4</span> million. The Company accounted for the PPP Loan as a debt instrument in accordance with FASB ASC 470, Debt.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under the terms of the PPP Loan, the Company was eligible for full or partial loan forgiveness. During the first quarter of 2021, the Company received full forgiveness of the PPP Loan and recognized a $<span id="xdx_901_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pn5n6_c20210101__20210331__us-gaap--DebtInstrumentAxis__custom--PaycheckProtectionProgramLoanMember_zAAIzhnpPRUc" title="Gain on extinguishment of debt">1.4</span> million gain on extinguishment and forgiveness of debt as other income in the unaudited interim consolidated statements of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Reclassification</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following items have been reclassified in the 2021 financial statements:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The unaudited consolidated statements of cash flows contain a reclassification of the gain on the extinguishment and forgiveness of the PPP Loan from financing activities to operating activities for the nine months ended September 30, 2021. Additionally, principal repayments of financing leases and the reduction in operating leases have been reclassified and presented in the applicable cash flow activity for the nine months ended September 30, 2021. The inventories footnote contains a reclassification of the provision for excess and obsolete inventory and reductions to net realizable value to the applicable inventory classification at December 31, 2021.</span></p>
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CY2022Q3 ppsi Deferred Tax Assets Valuation Allowance Percentage
DeferredTaxAssetsValuationAllowancePercentage
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Cash
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WeightedAverageNumberOfDilutedSharesOutstanding
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ContractCostsIncurred
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ContractCostsIncurred
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ppsi Contract Costs Incurred
ContractCostsIncurred
2900000 usd
ppsi Contract Costs Incurred
ContractCostsIncurred
3100000 usd
CY2022Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
81000 usd
CY2021Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
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us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
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us-gaap Contract With Customer Liability Revenue Recognized
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EarningsPerShareDiluted
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WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Revenues
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us-gaap Net Income Loss
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EarningsPerShareDiluted
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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31884000 usd
CY2022Q1 us-gaap Assets
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30210000 usd
CY2022Q2 us-gaap Assets
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CY2022Q2 us-gaap Stockholders Equity
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CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2527000 usd
CY2022Q1 us-gaap Increase Decrease In Deferred Revenue
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NetCashProvidedByUsedInOperatingActivities
2087000 usd
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Increase Decrease In Inventories
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3987000 usd
us-gaap Increase Decrease In Deferred Revenue
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2022Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
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RetainedEarningsAccumulatedDeficit
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CY2021Q3 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
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us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
112000 usd
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1300000 usd
CY2022Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
3119000 usd
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
993000 usd
CY2022Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
5360000 usd
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
3167000 usd
CY2022Q3 us-gaap Inventory Gross
InventoryGross
8479000 usd
CY2021Q4 us-gaap Inventory Gross
InventoryGross
4160000 usd
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2464000 usd
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2059000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1948000 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
794000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
516000 usd
CY2022Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
40000 usd
CY2021Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
35000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
113000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
110000 usd
CY2022Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
3433000 usd
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
2089000 usd
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1273000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1263000 usd
CY2022Q3 us-gaap Accrued Rent Current
AccruedRentCurrent
972000 usd
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AccruedRentCurrent
807000 usd
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AccountsPayableAndAccruedLiabilitiesCurrent
5678000 usd
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
4159000 usd
CY2022Q3 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
148000 usd
CY2021Q4 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
247000 usd
CY2022Q3 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
307000 usd
CY2021Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
270000 usd
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
309000 usd
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AccruedProfessionalFeesCurrent
111000 usd
CY2022Q3 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
319000 usd
CY2021Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
50000 usd
CY2022Q3 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
0 usd
CY2021Q4 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
481000 usd
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CommonStockSharesOutstanding
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CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
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CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
647667 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.53
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
58000 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
643667 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.54
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y8M12D
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
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ppsi Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Granted Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantedFairValue
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
250000 shares
CY2022Q3 ppsi Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Unvested Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsUnvestedFairValue
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CY2022Q3 us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
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CY2021Q3 us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
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EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
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CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
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CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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WeightedAverageNumberOfSharesOutstandingBasic
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CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8726000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9713000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8726000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9770000 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8726000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9713000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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EarningsPerShareBasic
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EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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EarningsPerShareDiluted
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CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Number Of Reportable Segments
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Revenues
6251000 usd
CY2021Q3 us-gaap Revenues
Revenues
5685000 usd
us-gaap Revenues
Revenues
17476000 usd
us-gaap Revenues
Revenues
14813000 usd
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DepreciationAndAmortization
94000 usd
CY2021Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
98000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
290000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
329000 usd
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OperatingIncomeLoss
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CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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ppsi Weighted Average Remaining Lease Extend Term
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FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
1200000 usd
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
1600000 usd
CY2022Q3 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
474000 usd
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
1100000 usd
CY2022Q3 ppsi Operating Lease Right Of Use Asset Before Accumulated Amortization
OperatingLeaseRightOfUseAssetBeforeAccumulatedAmortization
2500000 usd
CY2021Q4 ppsi Operating Lease Right Of Use Asset Before Accumulated Amortization
OperatingLeaseRightOfUseAssetBeforeAccumulatedAmortization
3900000 usd
CY2022Q3 ppsi Operating Lease Right Of Use Asset Accumulated Amortization
OperatingLeaseRightOfUseAssetAccumulatedAmortization
1200000 usd
CY2021Q4 ppsi Operating Lease Right Of Use Asset Accumulated Amortization
OperatingLeaseRightOfUseAssetAccumulatedAmortization
2300000 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
188000 usd
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
173000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
563000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
456000 usd
CY2022Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
53000 usd
CY2021Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
62000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
177000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
219000 usd
CY2022Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
10000 usd
CY2021Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
9000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
31000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
30000 usd
CY2022Q3 ppsi Finance Lease Cost
FinanceLeaseCost
63000 usd
CY2021Q3 ppsi Finance Lease Cost
FinanceLeaseCost
71000 usd
ppsi Finance Lease Cost
FinanceLeaseCost
208000 usd
ppsi Finance Lease Cost
FinanceLeaseCost
249000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
559000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
449000 usd
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
31000 usd
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
30000 usd
ppsi Financing Cash Flows From Finance Leases
FinancingCashFlowsFromFinanceLeases
178000 usd
ppsi Financing Cash Flows From Finance Leases
FinancingCashFlowsFromFinanceLeases
226000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
551000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1418000 usd
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y
CY2022Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y
CY2021Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0550 pure
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0550 pure
CY2022Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0661 pure
CY2021Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0676 pure
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
182000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
74000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
670000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
389000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
508000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
158000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
95000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
174000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
24000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
128000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1479000 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
923000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
92000 usd
CY2022Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
102000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
1387000 usd
CY2022Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
821000 usd
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1343000 usd
CY2022Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
773000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
1387000 usd
CY2022Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
821000 usd

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