Pioneer Power Solutions, Inc.

and welcome to the Pioneer Power Third Quarter 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. If anyone should require operator assistance, please press star and then zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Corbyn Woodall of Hayden HR. Thank you, and you may begin.

Thank you, Claudia. The call today will be hosted by Nathan Maznarek, Chairman and Chief Executive Officer, Walter Miklik, Chief Financial Officer, and Gio Murican, President of Pioneer E-Mobility. On the call today, we will review the third quarter financial results and recent business highlights. Following this, there will be a Q&A session open to participants on the call. Before we get started, I would like to remind participants this call is being recorded. During this call, management may make forward-looking statements. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Please refer to the cautionary text regarding forward-looking statements contained in the earnings release issued earlier today, Thursday, November 13th, which applies to the content of this call. I would now like to turn the call over to Nathan Masaryk, Chairman and CEO. Nathan, please go ahead.

Thank you, Corbin. Good afternoon, everyone, and thank you for joining us today. The third quarter was a highly successful period for Pioneer, highlighted by key equipment deliveries, strong order momentum, and significant penetration into the distributed power space. These achievements, combined with a robust project pipeline and Pioneer's continued investment in product development, position us to realize our full-year 2025 growth objectives and position us for accelerated growth in 2026. For the third quarter, we generated revenue of $6.9 million, an increase of 7.4% year over year, driven primarily by an increase in service sales from our critical power business. Year to date, revenue reached $22 million, up 68%. compared to the same nine-month period last year, driven primarily by demand for our e-boost mobile charging solutions. These results reflect our ongoing success in expanding our product scope, broadening our customer base, and capitalizing on large new vertical markets. Specifically, in the third quarter, we completed delivery of the last five e-boost units of a 25-unit order for a landmark school district project totaling $1.3 million. This project represents one of the largest school bus fleet electrification initiatives in the country and underscores our ability to deliver turnkey mobile charging solutions for heavy duty, high utilization electric vehicles. This milestone strengthens our position as a leader in fleet electrification. and highlights the growing demand for mobile, high-capacity energy solutions in the public sector. In the broader fleet electrification market, we delivered our eBoost Mobile Open Flex unit to the city of Portland. This 175-kilowatt multifunctional unit features a level three fast charger, multiple level two chargers, and a grid tie transfer switch. Pioneer's ability to design and implement a power-dense, flexible mobile power system further solidifies our reputation as a trusted vendor of complex, resilient, distributed power. Also in Q3, we received a $725,000 order from the City of Long Beach, California for an e-boost mobile stretch unit, a specialized 250 kilowatt, off-grid EV charging system, which is scheduled to shift before year end. Securing this project also highlights Pioneer's ability to craft custom, complicated, and value-driven power-slash-charging solutions. The last-mile delivery market continues to represent strong demand for eBoost equipment. Following a successful pilot during the peak holiday shopping season last year, One of the world's largest online retailers placed a follow-up order for new e-boost units, which were delivered in the third quarter and indeed confirms the success of the initial pilot last year. Based on current discussions with this retailer, we expect additional e-boost units to be deployed at many of its depots and distribution centers in 2026. Also, shortly after quarter end, our strategic partner, Spark Charge, placed an additional order for four new eBOOST Pure Energy 275-kilowatt units valued at $1.6 million as part of a multi-year purchase plan, reinforcing eBOOST's critical role in supporting rideshare and autonomous vehicle electrification. These units are also expected to be delivered by year end. More importantly, Q3 marks the actualization of Pioneer's two most impactful growth initiatives. First, our natural expansion into the distributed power market, and second, the technical completion of our residential power slash charging unit, originally known as HomeBoost, now rebranded as PowerCore. Pioneer's expansion into the distributed power market was validated in Q3 with over $700,000 in product deliveries and an additional $750,000 in new purchase orders. The expertise gained in designing and integrating complex mobile power solutions with the original launch and evolution of the eBoost platform enabled us to smoothly transition to a pure custom distributed power suite of solutions. Indeed, Q3 deliveries of our distributed power solutions cut across a swath of verticals, including a large shopping center, a large condominium tower, and a solid waste processing facility. The new $750,000 distributed power order we received is from one of the largest fitness chains in the United States for a peak shaving application at its flagship facility. Together, these wins underscore the increasing demand across various sectors for fast, deployable, flexible power solutions. Building on this early success, we are expanding our focus to serve the broader distributed power market and are excited to introduce a pre-engineered, scalable power block system designed to meet the increasing energy requirements of large data centers, industrials, universities, and hospitals. Our 1.25 megawatt natural gas fired resilient and modular power solution is engineered to provide reliable, redundant, efficient power for critical needs and the new surge in demand for on-premise compute power needs. We anticipate launching this innovative system by the end of 2025. exponentially expanding our ability to address the overall distributed power space. Secondly, within the broadened product portfolio, our home boost power unit power product is being rebranded as PowerCore and is on track to launch later this year on December 17th at a scheduled event hosted by Pioneer at our Miami, Florida facility. We initially introduced HomeBoost as a residential product that seamlessly integrates distributed generation with EV charging. In its original form, HomeBoost offered homeowners the ability to combine prime power generation, natural gas or propane, with advanced fast EV charging and an automatic transfer switch to manage utility outages or go into island mode during extended grid outages. With the transition to the power core branding, the solution is positioned as a scalable, always-on power platform that integrates natural gas power generation and, at the user's discretion, combines fast DC charging into a single system architecture. This elevated design is not just aimed at the residential segment. but indeed also at light commercial and other resilience demanding markets where continuous reliable onsite power and EV charging are critical, but not easily available. This offering essentially provides the user with their own natural gas powered power plant. We continue to receive positive feedback from early customer demonstrations, and we believe that PowerCore will be a key growth driver for Pioneer in 2026 and beyond. Pyrocor materially expands Pioneer's addressable market, moving us beyond large fleets and municipal deployments to permanent high value installations that demand both power generation and or high capacity EV charging. This product represents the next chapter in our evolution toward providing fully resilient distributed power solutions. Finally, there are several countries around the world that are currently experiencing a high EV growth market supported by policies and incentives similar to U.S. policies back in 2021. Pioneers actively engaging with several charging businesses in these thriving international EV markets through an e-boost franchise type model. where we are able to leverage our existing engineering and development expertise to help local partners achieve similar success. These strategic alliances will enable faster adoption of EVs in those markets and provide Pioneer with an additional stream of revenue from licensing, technology transfer, and revenue share models. In summary, The third quarter reflects both continued operational execution and important strategic progress. We are expanding our reach, diversifying our revenue mix, and strengthening our foundation for long-term growth. Based on the momentum we have built and our visibility into the pipeline, we are reaffirming our full year 2025 revenue guidance of $27 to $29 million, representing approximately 20% year-over-year growth. With that, I'll turn the call over to Walter for a detailed review of our financial results.