10-K - POWER SOLUTIONS INTERNATIONAL, INC. (0001137091) (Filer)

Mon, Mar 24, 8:45 PM (34 days ago)

**Power Solutions International, Inc. (PSIX) - 2024 Annual Report Summary** **Financial Performance:** - **Revenue:** $475.97 million (2024) vs. $458.97 million (2023), a 4% increase. - **Gross Profit:** $140.54 million (2024) vs. $105.86 million (2023), a 33% increase. - **Operating Income:** $81.64 million (2024) vs. $44.28 million (2023), an 84% increase. - **Net Income:** $69.28 million (2024) vs. $26.31 million (2023), a 163% increase. - **Earnings per Share (EPS):** $3.01 (2024) vs. $1.15 (2023), a 162% increase. **Strategic Overview:** - **Market Focus:** Emphasis on power systems, industrial, and transportation markets. - **Product Innovation:** Development of advanced, emission-certified engines and power systems. - **Geographic Expansion:** Growth in North America, Pacific Rim, and Europe. - **Sustainability:** Commitment to reducing emissions and improving fuel efficiency. **Future Outlook:** - **Growth Opportunities:** Expansion in data center and oil and gas markets. - **Challenges:** Economic uncertainty, supply chain disruptions, and regulatory compliance. - **Debt Management:** Significant debt obligations with substantial doubt about the ability to continue as a going concern. **Risk Factors:** - **Economic and Geopolitical Risks:** Impact of global events, tariffs, and economic conditions. - **Supply Chain Risks:** Dependence on key suppliers and potential disruptions. - **Regulatory Risks:** Compliance with environmental and emissions standards. - **Market Risks:** Competition and volatility in oil and gas prices. **Financial Condition:** - **Debt:** $120.2 million in total outstanding debt obligations. - **Cash and Cash Equivalents:** $55.3 million. - **Liquidity:** Uncertainties about refinancing or repaying debt. **Market Position Changes:** - **Uplisting:** Common stock uplisted on Nasdaq on December 26, 2024. - **Share Price:** $33.09 per share as of March 17, 2025. **Note:** Amounts are in thousands, 000s.