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Side-by-side financial comparison of PIONEER POWER SOLUTIONS, INC. (PPSI) and Peraso Inc. (PRSO). Click either name above to swap in a different company.
PIONEER POWER SOLUTIONS, INC. is the larger business by last-quarter revenue ($5.6M vs $2.9M, roughly 2.0× Peraso Inc.). PIONEER POWER SOLUTIONS, INC. runs the higher net margin — -24.7% vs -43.3%, a 18.6% gap on every dollar of revenue. On growth, Peraso Inc. posted the faster year-over-year revenue change (-22.0% vs -42.3%). Over the past eight quarters, PIONEER POWER SOLUTIONS, INC.'s revenue compounded faster (30.3% CAGR vs 1.0%).
Caterpillar Energy Solutions GmbH, is a mechanical engineering company based in Mannheim, Baden-Württemberg, Germany. It was known as MWM GmbH Motoren-Werke Mannheim (MWM) until November 2013. In 2009 the company was the third-largest producer by revenue of gas and diesel engines.
Peraso Inc. is a semiconductor technology firm specializing in the design and production of high-performance millimeter wave (mmWave) integrated circuits and modules. It delivers 5G and next-generation wireless connectivity solutions for telecom infrastructure, industrial IoT, fixed wireless access and consumer electronics segments, serving customers across North America, Asia Pacific and European markets.
PPSI vs PRSO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.6M | $2.9M |
| Net Profit | $-1.4M | $-1.2M |
| Gross Margin | 23.5% | 52.2% |
| Operating Margin | -19.4% | -44.6% |
| Net Margin | -24.7% | -43.3% |
| Revenue YoY | -42.3% | -22.0% |
| Net Profit YoY | -103.8% | 20.3% |
| EPS (diluted) | $-0.12 | $-0.09 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $5.6M | $2.9M | ||
| Q3 25 | $6.9M | $3.2M | ||
| Q2 25 | $8.4M | $2.2M | ||
| Q1 25 | $6.7M | $3.9M | ||
| Q4 24 | $9.8M | $3.7M | ||
| Q3 24 | $6.4M | $3.8M | ||
| Q2 24 | $3.4M | $4.2M | ||
| Q1 24 | $3.3M | $2.8M |
| Q4 25 | $-1.4M | $-1.2M | ||
| Q3 25 | $-2.4M | $-1.2M | ||
| Q2 25 | $-1.3M | $-1.8M | ||
| Q1 25 | $-929.0K | $-471.0K | ||
| Q4 24 | $36.3M | $-1.6M | ||
| Q3 24 | $-1.1M | $-2.7M | ||
| Q2 24 | $-2.3M | $-4.4M | ||
| Q1 24 | $-1.0M | $-2.0M |
| Q4 25 | 23.5% | 52.2% | ||
| Q3 25 | 9.3% | 56.2% | ||
| Q2 25 | 15.7% | 48.3% | ||
| Q1 25 | 2.2% | 69.3% | ||
| Q4 24 | 28.9% | 56.3% | ||
| Q3 24 | 23.7% | 47.0% | ||
| Q2 24 | 18.9% | 55.5% | ||
| Q1 24 | 16.1% | 46.4% |
| Q4 25 | -19.4% | -44.6% | ||
| Q3 25 | -21.0% | -36.8% | ||
| Q2 25 | -20.4% | -80.0% | ||
| Q1 25 | -34.8% | -13.3% | ||
| Q4 24 | -11.0% | -44.3% | ||
| Q3 24 | -11.1% | -70.3% | ||
| Q2 24 | -51.1% | -105.6% | ||
| Q1 24 | -52.1% | -128.9% |
| Q4 25 | -24.7% | -43.3% | ||
| Q3 25 | -34.1% | -37.4% | ||
| Q2 25 | -15.9% | -82.4% | ||
| Q1 25 | -13.8% | -12.2% | ||
| Q4 24 | 372.1% | -42.4% | ||
| Q3 24 | -17.5% | -70.6% | ||
| Q2 24 | -67.2% | -104.4% | ||
| Q1 24 | -31.2% | -72.1% |
| Q4 25 | $-0.12 | $-0.09 | ||
| Q3 25 | $-0.21 | $-0.17 | ||
| Q2 25 | $-0.12 | $-0.31 | ||
| Q1 25 | $-0.09 | $-0.10 | ||
| Q4 24 | $3.31 | $0.36 | ||
| Q3 24 | $-0.10 | $-0.98 | ||
| Q2 24 | $-0.21 | $-1.88 | ||
| Q1 24 | $-0.10 | $-1.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $2.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $29.3M | $4.6M |
| Total Assets | $35.5M | $6.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.9M | ||
| Q3 25 | — | — | ||
| Q2 25 | $18.0M | — | ||
| Q1 25 | $25.8M | — | ||
| Q4 24 | $41.6M | $3.3M | ||
| Q3 24 | $3.1M | $1.3M | ||
| Q2 24 | $6.5M | $1.9M | ||
| Q1 24 | $6.2M | $2.4M |
| Q4 25 | $29.3M | $4.6M | ||
| Q3 25 | $30.7M | $3.6M | ||
| Q2 25 | $33.0M | $3.0M | ||
| Q1 25 | $34.5M | $3.6M | ||
| Q4 24 | $35.4M | $3.5M | ||
| Q3 24 | $14.7M | $2.0M | ||
| Q2 24 | $15.8M | $3.6M | ||
| Q1 24 | $18.1M | $6.7M |
| Q4 25 | $35.5M | $6.1M | ||
| Q3 25 | $37.6M | $6.2M | ||
| Q2 25 | $39.1M | $5.5M | ||
| Q1 25 | $47.5M | $6.7M | ||
| Q4 24 | $66.0M | $7.2M | ||
| Q3 24 | $40.1M | $7.2M | ||
| Q2 24 | $38.0M | $9.8M | ||
| Q1 24 | $39.3M | $11.5M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-1.0M | $-1.1M |
| Free Cash FlowOCF − Capex | $-2.2M | — |
| FCF MarginFCF / Revenue | -38.8% | — |
| Capex IntensityCapex / Revenue | 20.3% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-8.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.0M | $-1.1M | ||
| Q3 25 | $-817.0K | $-1.5M | ||
| Q2 25 | $-5.5M | $-2.0M | ||
| Q1 25 | $1.5M | $-966.0K | ||
| Q4 24 | $-2.1M | $-687.0K | ||
| Q3 24 | $-2.7M | $-683.0K | ||
| Q2 24 | $571.0K | $-659.0K | ||
| Q1 24 | $-1.9M | $-2.5M |
| Q4 25 | $-2.2M | — | ||
| Q3 25 | $-1.6M | $-1.6M | ||
| Q2 25 | $-5.6M | — | ||
| Q1 25 | $907.0K | — | ||
| Q4 24 | $-4.6M | — | ||
| Q3 24 | $-3.4M | — | ||
| Q2 24 | $170.0K | — | ||
| Q1 24 | $-2.2M | — |
| Q4 25 | -38.8% | — | ||
| Q3 25 | -23.4% | -48.9% | ||
| Q2 25 | -67.0% | — | ||
| Q1 25 | 13.5% | — | ||
| Q4 24 | -46.9% | — | ||
| Q3 24 | -53.0% | — | ||
| Q2 24 | 5.0% | — | ||
| Q1 24 | -65.2% | — |
| Q4 25 | 20.3% | — | ||
| Q3 25 | 11.5% | 1.1% | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 8.8% | — | ||
| Q4 24 | 25.4% | — | ||
| Q3 24 | 10.3% | — | ||
| Q2 24 | 11.8% | — | ||
| Q1 24 | 6.4% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.06× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PPSI
| Total Revenue | $4.0M | 70% |
| Other | $1.7M | 30% |
PRSO
| Products | $2.8M | 96% |
| Other | $105.0K | 4% |
