Power Solutions International Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Power Solutions International Inc reported revenue of $722.4M (+51.8% year on year) and net income of $114.0M (+64.5% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net sales (to related parties $1,266 and $1,766 for the year ended December 31, 2025 and 2024, respectively) | $722.4M | $476.0M | $459.0M | $481.3M |
| Cost of sales (derived from related party net sales $863 and $1,304 for the year ended December 31, 2025 and 2024, respectively) | $537.5M | $335.4M | $353.1M | $392.8M |
| Gross profit | $184.9M | $140.5M | $105.9M | $88.6M |
| Research and development expenses | $18.2M | $20.1M | $19.5M | $18.9M |
| Selling, general and administrative expenses | $55.8M | $37.4M | $40.4M | $42.9M |
| Amortization of intangible assets | $1.2M | $1.5M | $1.7M | $2.1M |
| Total operating expenses | $75.2M | $58.9M | $61.6M | $64.0M |
| Operating income | $109.7M | $81.6M | $44.3M | $24.6M |
| Interest expense (from related parties $634 and $6,998 for the year ended December 31, 2025 and 2024, respectively) | $6.7M | $11.4M | — | — |
| Other expense (income) | ($352.0K) | — | — | $0 |
| Total other expense, net | $6.3M | — | — | $13.0M |
| Income before income taxes | $103.4M | $70.2M | $27.2M | $11.6M |
| Income tax (benefit) expense | ($10.6M) | $922.0K | $900.0K | $304.0K |
| Net income | $114.0M | $69.3M | $26.3M | $11.3M |
| Basic (in shares) | 23.0M | 23.0M | 23.0M | 22.9M |
| Diluted (in shares) | 23.1M | 23.0M | 23.0M | 22.9M |
| Basic (in dollars per share) | $4.95 | $3.01 | $1.15 | $0.49 |
| Diluted (in dollars per share) | $4.94 | $3.01 | $1.15 | $0.49 |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Net sales (to related parties $10 and $402 for the three months ended June 30, 2026 and 2025, respectively, $19 and $865 for the six months ended June 30, 2026 and 2025, respectively) | $152.5M | $128.6M | $203.8M | $191.9M |
| Cost of sales (derived from related party net sales $3 and $271 for the three months ended June 30, 2026 and 2025, respectively, and $8 and $587 for the six months ended June 30, 2026 and 2025, respectively) | $111.2M | $99.2M | $155.1M | $137.8M |
| Gross profit | $41.4M | $29.4M | $48.7M | $54.1M |
| Research and development expenses | $5.1M | $4.8M | $4.8M | $4.6M |
| Selling, general and administrative expenses | $12.1M | $13.0M | $15.3M | $16.7M |
| Amortization of intangible assets | $280.0K | $249.0K | $308.0K | $306.0K |
| Total operating expenses | $17.4M | $18.0M | $20.4M | $21.6M |
| Operating income | $23.9M | $11.4M | $28.4M | $32.5M |
| Interest expense (from related parties of $0 and $219 for the three months ended June 30, 2026 and 2025, respectively, and $0 and $634 for the six months ended June 30, 2026 and 2025, respectively) | $1.6M | $1.7M | $1.6M | $1.7M |
| Other expense (income) | ($122.0K) | ($85.0K) | $0 | ($295.0K) |
| Total other expense, net | $1.4M | $1.7M | $1.6M | $1.4M |
| Income before income taxes | $22.5M | $9.7M | $26.7M | $31.1M |
| Income tax expense (benefit) | $5.6M | $2.4M | ($876.0K) | ($20.1M) |
| Net income | $16.9M | $7.3M | $27.6M | $51.2M |
| Basic (in shares) | 23.1M | 23.0M | 23.0M | 23.0M |
| Diluted (in shares) | 23.1M | 23.1M | 23.1M | 23.1M |
| Basic (in dollars per share) | $0.73 | $0.32 | $1.20 | $2.23 |
| Diluted (in dollars per share) | $0.73 | $0.32 | $1.20 | $2.22 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $41.3M | $55.3M | $22.8M | $24.3M |
| Restricted cash | $3.7M | $3.2M | $3.8M | $3.6M |
| Accounts receivable, net of allowances of $967 and $1,889 as of December 31, 2025 and 2024, respectively; (from related parties $415 and $1,383 as of December 31, 2025 and 2024, respectively) | $90.4M | $69.0M | $67.0M | $89.9M |
| Income tax receivable | $6.4M | $986.0K | $550.0K | $555.0K |
| Inventories, net | $127.4M | $93.9M | $84.9M | $120.6M |
| Prepaid expenses | $4.5M | $6.4M | — | — |
| Contract assets | $16.0M | $21.5M | — | — |
| Other current assets | $1.3M | $4.2M | — | — |
| Total current assets | $290.9M | $254.3M | $205.4M | $255.3M |
| Property, plant and equipment, net | $23.0M | $15.4M | $14.9M | $13.8M |
| Operating lease right-of-use assets, net | $52.9M | $23.3M | $27.1M | $13.3M |
| Intangible assets, net | $1.2M | $2.5M | $3.9M | $5.7M |
| Goodwill | $29.8M | $29.8M | $29.8M | $29.8M |
| Deferred tax assets | $13.3M | — | — | — |
| Customs-related deposits | $12.9M | — | — | — |
| Other noncurrent assets | $614.0K | $2.9M | $3.1M | $2.0M |
| TOTAL ASSETS | $424.7M | $328.2M | $284.3M | $319.9M |
| Accounts payable (to related parties $4,126 and $14,427 as of December 31, 2025 and 2024, respectively) | $48.2M | $58.2M | $67.4M | $76.4M |
| Current maturities of long-term debt | $28.0K | $52.0K | $139.0K | $130.0K |
| Revolving line of credit, current | $0 | $95.0M | $50.0M | $130.0M |
| Finance lease liability, current | $355.0K | $78.0K | $76.0K | $90.0K |
| Operating lease liability, current | $6.3M | $4.5M | $3.9M | $2.9M |
| Other short-term financing (to related parties $25,000 as of December 31, 2024) | $0 | $25.0M | $94.8M | $75.6M |
| Other accrued liabilities (to related parties $60 and $807 as of December 31, 2025 and 2024, respectively) | $37.4M | $44.7M | $32.0M | $34.1M |
| Total current liabilities | $92.3M | $227.6M | $248.3M | $319.3M |
| Deferred tax liabilities | $0 | $1.6M | $1.5M | $1.3M |
| Long-term debt, net of current maturities | $10.0K | $38.0K | $90.0K | $5.0M |
| Revolving line of credit, long-term | $95.0M | — | — | — |
| Finance lease liability, long-term | $1.2M | $16.0K | $94.0K | $170.0K |
| Operating lease liability, long-term | $49.4M | $20.7M | $25.1M | $11.0M |
| Noncurrent contract liabilities | $1.7M | $1.9M | $2.4M | $3.2M |
| Other noncurrent liabilities | $6.5M | $11.2M | $10.8M | $10.4M |
| TOTAL LIABILITIES | $246.1M | $262.9M | $288.2M | $350.3M |
| Common stock – $0.001 par value; 50,000 shares authorized; 23,117 shares issued; 23,041 and 23,000 shares outstanding at December 31, 2025 and 2024, respectively | 23.0K | 23.0K | 23.0K | 23.0K |
| Additional paid-in capital | $157.6M | $157.6M | $157.8M | $157.7M |
| Retained earnings (accumulated deficit) | $22.5M | ($91.5M) | ($160.8M) | ($187.1M) |
| Treasury stock, at cost, 76 and 117 shares at December 31, 2025 and 2024, respectively | -1.5M | -823.0K | -920.0K | — |
| TOTAL STOCKHOLDERS’ EQUITY | $178.6M | $65.3M | ($3.9M) | ($30.4M) |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $424.7M | $328.2M | $284.3M | $319.9M |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $70.1M | $45.1M | $49.0M | $49.5M |
| Restricted cash | $4.5M | $4.4M | $3.7M | $3.7M |
| Accounts receivable, net of allowances of $1,734 and $967 as of June 30, 2026 and December 31, 2025, respectively; (from related parties $200 and $415 as of June 30, 2026 and December 31, 2025, respectively) | $80.2M | $73.7M | $88.0M | $82.1M |
| Income tax receivable | $2.9M | $5.3M | $6.4M | $0 |
| Inventories, net | $127.6M | $129.2M | $152.2M | $149.0M |
| Prepaid expenses | $3.9M | $4.3M | $5.0M | $4.2M |
| Contract assets | $12.5M | $11.6M | $13.3M | $21.2M |
| Other current assets | $1.0M | $1.2M | $1.3M | $716.0K |
| Total current assets | $302.5M | $274.8M | $318.9M | $310.3M |
| Property, plant and equipment, net | $31.9M | $32.3M | $21.1M | $21.0M |
| Operating lease right-of-use assets, net | $59.3M | $61.2M | $54.5M | $46.5M |
| Intangible assets, net | $1.3M | $1.6M | $1.5M | $1.8M |
| Goodwill | $34.9M | $34.9M | $29.8M | $29.8M |
| Deferred tax assets | $9.5M | $12.2M | $19.5M | $25.4M |
| Customs-related deposits | $13.4M | $13.1M | — | — |
| Other noncurrent assets | $419.0K | $543.0K | $13.6M | $2.8M |
| TOTAL ASSETS | $453.3M | $430.7M | $458.9M | $437.7M |
| Accounts payable (to related parties $8,700 and $4,126 as of June 30, 2026 and December 31, 2025, respectively) | $49.5M | $42.5M | $83.6M | $89.6M |
| Tariff refund liability | $22.7M | — | — | — |
| Current maturities of long-term debt | $935.0K | $1.8M | $37.0K | $45.0K |
| Finance lease liability, current | $397.0K | $364.0K | $368.0K | $382.0K |
| Operating lease liability, current | $7.6M | $7.4M | $5.9M | $5.5M |
| Other short-term financing | $250.0K | — | $0 | $0 |
| Other accrued liabilities (to related parties $53 and $60 as of June 30, 2026 and December 31, 2025, respectively) | $36.2M | $28.3M | $49.7M | $56.3M |
| Total current liabilities | $117.6M | $80.4M | $139.6M | $246.9M |
| Long-term debt, net of current maturities | $4.8M | $5.0M | $15.0K | $19.0K |
| Revolving line of credit, long-term | $65.0M | $95.0M | $95.0M | — |
| Finance lease liability, long-term | $1.2M | $1.2M | $1.3M | $1.4M |
| Operating lease liability, long-term | $53.7M | $55.6M | $51.0M | $43.2M |
| Noncurrent contract liabilities | $1.6M | $1.7M | $1.7M | $1.8M |
| Other noncurrent liabilities | $6.3M | $6.0M | $7.8M | $8.8M |
| TOTAL LIABILITIES | $250.2M | $244.9M | $296.5M | $302.0M |
| Common stock – $0.001 par value; 50,000 shares authorized; 23,117 shares issued; 23,050 and 23,041 shares outstanding at June 30, 2026 and December 31, 2025, respectively | 23.0K | 23.0K | 23.0K | 23.0K |
| Additional paid-in capital | $158.3M | $157.9M | $157.6M | $157.8M |
| Retained earnings | $46.6M | $29.8M | $6.4M | ($21.2M) |
| Treasury stock, at cost, 67 and 76 shares at June 30, 2026 and December 31, 2025, respectively | -1.9M | -1.9M | -1.6M | -930.0K |
| TOTAL STOCKHOLDERS’ EQUITY | $203.1M | $185.8M | $162.5M | $135.7M |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $453.3M | $430.7M | $458.9M | $437.7M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $114.0M | $69.3M | $26.3M | $11.3M |
| Amortization of intangible assets | $1.2M | $1.5M | $1.7M | $2.1M |
| Depreciation | $4.2M | $3.7M | $3.9M | $4.6M |
| Noncash lease expense | $6.1M | $5.0M | — | — |
| Stock-based compensation expense | $427.0K | $89.0K | $151.0K | $385.0K |
| Amortization of financing fees | $646.0K | $513.0K | $1.2M | $2.2M |
| Deferred income taxes | ($14.9M) | $90.0K | $200.0K | $189.0K |
| (Credit) for losses in accounts receivable | ($922.0K) | ($4.1M) | $1.7M | — |
| Increase in allowance for inventory obsolescence, net | $118.0K | $2.4M | $1.8M | — |
| Other adjustments, net | $96.0K | $40.0K | $229.0K | $1.7M |
| Accounts receivable | ($20.6M) | $2.1M | $21.2M | ($24.8M) |
| Inventories | ($33.4M) | ($10.6M) | $33.8M | $20.4M |
| Prepaid expenses | $1.9M | $2.2M | — | — |
| Contract assets | $5.5M | ($5.9M) | — | — |
| Other assets | ($7.2M) | ($1.6M) | — | — |
| Accounts payable | ($10.1M) | ($8.9M) | ($9.2M) | ($17.0M) |
| Income taxes receivable | ($5.5M) | ($436.0K) | $5.0K | $3.7M |
| Accrued expenses | ($6.8M) | $12.0M | ($2.2M) | $2.1M |
| Other noncurrent liabilities | ($10.7M) | ($5.1M) | ($3.3M) | ($11.5M) |
| Net cash provided by operating activities | $24.1M | $62.4M | $70.5M | ($8.8M) |
| Capital expenditures | ($10.0M) | ($4.6M) | ($5.0M) | ($1.4M) |
| Proceeds from disposal of assets | $11.0K | $0 | $16.0K | — |
| Net cash used in investing activities | ($10.0M) | ($4.6M) | ($5.0M) | ($1.4M) |
| Repayment of long-term debt and lease liabilities | ($482.0K) | ($204.0K) | ($215.0K) | — |
| Proceeds from short-term financings | $0 | $100.0M | $15.0M | $31.6M |
| Repayment of short-term financings | ($25.0M) | ($124.8M) | ($594.0K) | ($1.2M) |
| Repurchases to settle tax withholding obligations for stock-based compensation awards | ($1.1M) | ($201.0K) | — | — |
| Payments of deferred financing costs | ($1.2M) | ($709.0K) | ($987.0K) | ($1.8M) |
| Net cash used in financing activities | ($27.7M) | ($25.9M) | ($66.8M) | $28.4M |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | ($13.5M) | $31.9M | ($1.3M) | $18.2M |
| Cash, cash equivalents, and restricted cash at beginning of the year | $58.5M | $26.6M | $27.9M | $9.7M |
| Cash, cash equivalents, and restricted cash at end of the year | $44.9M | $58.5M | $26.6M | $27.9M |
| Cash and cash equivalents | $41.3M | $55.3M | $22.8M | $24.3M |
| Restricted cash | $3.7M | $3.2M | $3.8M | $3.6M |
| Total cash, cash equivalents, and restricted cash | $44.9M | $58.5M | $26.6M | $27.9M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $24.2M | $7.3M | $97.9M | $70.3M |
| Amortization of intangible assets | $529.0K | $249.0K | $921.0K | $613.0K |
| Depreciation | $2.8M | $1.4M | $3.1M | $2.0M |
| Noncash lease expense | $3.3M | $1.4M | $4.5M | $3.0M |
| Stock-based compensation expense | $854.0K | $424.0K | $326.0K | $307.0K |
| Amortization of financing fees | $302.0K | $151.0K | $495.0K | $331.0K |
| Deferred income taxes | $3.8M | $1.1M | ($21.1M) | ($26.9M) |
| Provision (credit) for losses in accounts receivable | $767.0K | $432.0K | ($750.0K) | ($57.0K) |
| Increase in allowance for inventory obsolescence, net | $984.0K | $405.0K | $331.0K | $75.0K |
| Other adjustments, net | $159.0K | $111.0K | $55.0K | $56.0K |
| Accounts receivable | $12.6M | $17.1M | ($18.3M) | ($13.1M) |
| Inventories | $4.0M | $339.0K | ($55.9M) | ($49.5M) |
| Prepaid expenses | $641.0K | $207.0K | $1.4M | $2.2M |
| Contract assets | $3.5M | $4.4M | $8.2M | $290.0K |
| Other assets | ($285.0K) | ($133.0K) | ($7.2M) | $3.2M |
| Accounts payable | ($49.0K) | ($4.3M) | $25.3M | $31.0M |
| Tariff refund liability | $22.7M | — | — | — |
| Income taxes receivable | $3.6M | $1.1M | ($5.4M) | $986.0K |
| Accrued expenses and other current liabilities | ($4.5M) | ($10.4M) | — | — |
| Other noncurrent liabilities | ($4.1M) | ($2.3M) | ($7.7M) | ($5.2M) |
| Net cash provided by operating activities | $75.7M | $19.1M | $28.7M | $25.5M |
| Capital expenditures | ($2.7M) | ($1.9M) | ($7.0M) | ($5.4M) |
| Proceeds from disposal of assets | $0 | — | $11.0K | $11.0K |
| Business acquisition | ($11.9M) | ($11.9M) | — | — |
| Net cash used in investing activities | ($14.6M) | ($13.8M) | ($7.0M) | ($5.4M) |
| Repayment of long-term debt and lease liabilities | ($30.9M) | ($180.0K) | ($354.0K) | ($219.0K) |
| Repayment of short-term financings | $0 | $0 | ($25.0M) | ($25.0M) |
| Repurchases to settle tax withholding obligations for stock-based compensation awards | ($556.0K) | ($556.0K) | ($1.0M) | ($200.0K) |
| Other financing activities, net | ($8.0K) | ($4.0K) | — | — |
| Net cash used in financing activities | ($31.5M) | ($740.0K) | ($27.5M) | ($25.4M) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | $29.6M | $4.6M | ($5.8M) | ($5.4M) |
| Cash, cash equivalents, and restricted cash at beginning of the period | $44.9M | $44.9M | $58.5M | $58.5M |
| Cash, cash equivalents, and restricted cash at end of the period | $74.5M | $49.5M | $52.7M | $53.1M |
| Cash and cash equivalents | $70.1M | $45.1M | $49.0M | $49.5M |
| Restricted cash | $4.5M | $4.4M | $3.7M | $3.7M |
| Total cash, cash equivalents, and restricted cash | $74.5M | $49.5M | $52.7M | $53.1M |
Power Solutions International Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.