PESI (PESI) financial statements
PESI reported revenue of $62M in fiscal 2025, up 2.1% a year over 9 years.
Net income was -$14M and the operating margin -19.0%, against -30.8% in 2016.
Free cash flow was -$15M.
The diluted share count rose 59% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from PESI's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $51M | $50M | $50M | $73M | $105M | $72M | $71M | $90M | $59M | $62M |
| Cost of revenue | $44M | $41M | $41M | $58M | $90M | $65M | $61M | $73M | $59M | $56M |
| Gross profit | $7M | $9M | $8M | $16M | $16M | $7M | $10M | $16M | $2,000 | $6M |
| Research and development | $2M | $2M | $1M | $750,000 | $762,000 | $746,000 | $336,000 | $561,000 | $1M | $1M |
| Selling, general and admin | $11M | $11M | $11M | $12M | $12M | $13M | $15M | $15M | $14M | $16M |
| Operating income | -$16M | -$5M | -$4M | $3M | $3M | -$7M | -$5M | $756,000 | -$16M | -$12M |
| Interest expense | $489,000 | $315,000 | $251,000 | $432,000 | $398,000 | $247,000 | $175,000 | $323,000 | $473,000 | $230,000 |
| Pre-tax income | -$16M | -$5M | -$2M | $3M | $3M | -$3M | -$4M | $935,000 | -$15M | -$11M |
| Income tax | -$3M | $1M | -$936,000 | $157,000 | -$189,000 | -$4M | -$378,000 | $17,000 | $4M | — |
| Net income | -$13M | -$4M | -$1M | $2M | $3M | $835,000 | -$4M | $485,000 | -$20M | -$14M |
| EPS (diluted) | -$1.15 | -$0.31 | -$0.12 | $0.19 | $0.23 | $0.07 | -$0.29 | $0.04 | -$1.33 | -$0.75 |
| Diluted shares | 12M | 12M | 12M | 12M | 12M | 13M | 13M | 14M | 15M | 18M |
| Gross margin | 13.8% | 17.3% | 17.1% | 21.2% | 15.1% | 9.5% | 13.6% | 18.2% | 0.0% | 9.7% |
| Operating margin | -30.8% | -9.5% | -7.3% | 4.0% | 3.2% | -9.4% | -7.6% | 0.8% | -26.5% | -19.0% |
| Net margin | -26.2% | -7.4% | -2.9% | 3.2% | 2.7% | 1.2% | -5.4% | 0.5% | -33.8% | -22.3% |
Balance sheet
Fiscal years, from PESI's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $163,000 | $1M | $810,000 | $390,000 | $8M | $4M | $2M | $8M | $29M | $12M |
| Receivables | $9M | $8M | $8M | $13M | $10M | $11M | $9M | $10M | $12M | $11M |
| Inventory | $370,000 | $393,000 | $449,000 | $487,000 | $610,000 | $680,000 | $814,000 | $1M | $1M | $2M |
| Total current assets | $15M | $17M | $15M | $25M | $37M | $30M | $24M | $31M | $50M | $36M |
| Property, plant and equipment | $17M | $15M | $16M | $17M | $18M | $19M | $19M | $19M | $21M | $25M |
| Total assets | $65M | $60M | $57M | $67M | $79M | $77M | $71M | $79M | $97M | $88M |
| Total current liabilities | $17M | $20M | $22M | $25M | $33M | $26M | $23M | $26M | $22M | $23M |
| Long-term debt | $8M | $3M | $2M | $3M | $3M | $600,000 | $563,000 | $2M | $2M | $1M |
| Total liabilities | $33M | $31M | $31M | $37M | $46M | $37M | $33M | $39M | $35M | $38M |
| Shareholders' equity | $32M | $28M | $28M | $31M | $34M | $41M | $38M | $39M | $62M | $50M |
| Net debt | $9M | $3M | $2M | $3M | -$1M | -$3M | -$827,000 | -$5M | -$27M | -$10M |
Cash flow
Fiscal years, from PESI's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $104,000 | $442,000 | $2M | -$5M | $7M | -$7M | -$553,000 | $6M | -$15M | -$11M |
| Capital spending | $436,000 | $439,000 | $1M | $2M | $2M | $2M | $1M | $2M | $3M | $5M |
| Free cash flow | -$332,000 | $3,000 | $528,000 | -$6M | $6M | -$8M | -$2M | $5M | -$18M | -$15M |
| Stock-based compensation | $98,000 | $124,000 | $198,000 | $179,000 | $236,000 | $250,000 | $408,000 | $548,000 | $656,000 | $818,000 |
| Net borrowing | -$2M | -$1M | -$1M | $1M | $3M | -$440,000 | $22,000 | $2M | -$832,000 | -$631,000 |
| Free cash flow margin | -0.6% | 0.0% | 1.1% | -8.5% | 5.4% | -11.7% | -2.2% | 5.3% | -30.7% | -25.1% |
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Open PESI in InvestinglyQuestions
What was PESI's revenue in 2025?
$62M in fiscal 2025, from its 10-K filing.
How much free cash flow does PESI generate?
-$15M in fiscal 2025 (operating cash flow minus capital spending).
From PESI's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.