Significant Revenue Growth
Total revenue for Q3 2025 increased by 37.8% to $184.6 million compared to $133.9 million in Q3 2024. ODR revenue grew 52% to $141.4 million.
Strong Performance in ODR Segment
ODR revenue accounted for 76.6% of total revenue for the third quarter, up from 69.4% in Q3 2024, aligning with the strategic focus on ODR growth.
Successful Acquisition Integration
The acquisition of Pioneer Power exceeded expectations, contributing significantly to revenue and aligning with the company's strategic goals.
Improved Free Cash Flow
Free cash flow for Q3 2025 increased to $17.9 million from $13 million in Q3 2024, with a free cash flow conversion of adjusted EBITDA at 82%.