NASDAQ : POLA
Polar Power, Inc. — Financial statements
Industrials · Electrical Equipment & Parts · United States
Last price 0.5599 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 2.36M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Polar Power, Inc. (POLA) reported revenue of 4.62M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 4.62M | 6.30M | 13.97M | 15.29M | 16.06M | 16.90M |
| Cost of Revenue | 8.22M | 9.46M | 12.66M | 14.60M | 13.93M | 13.45M |
| Gross Profit | -3.60M | -3.16M | 1.31M | 695.00K | 2.12M | 3.44M |
| Selling, General & Admin | 4.16M | 4.17M | 4.92M | 5.46M | 6.20M | 4.56M |
| Research & Development | 638.00K | 646.00K | 771.00K | 1.22M | 1.46M | 1.99M |
| Operating Expenses | 4.80M | 4.81M | 5.69M | 6.68M | 7.66M | 6.54M |
| Operating Income | -8.40M | -7.97M | -4.38M | -5.99M | -5.53M | -3.10M |
| Interest Expense | -1.03M | -720.00K | -649.00K | -559.00K | -58.00K | -60.00K |
| Interest & Investment Income | 221.00K | |||||
| Other Non Operating Income (Expenses) | 179.00K | -98.00K | 126.00K | 1.00K | 7.00K | 29.00K |
| EBT Excluding Unusual Items | -9.26M | -8.79M | -4.68M | -6.55M | -5.58M | -3.13M |
| Asset Writedown | -347.00K | -347.00K | ||||
| Other Unusual Items | 1.72M | |||||
| Pretax Income | -9.61M | -9.13M | -4.68M | -6.55M | -5.58M | -1.41M |
| Net Income | -9.61M | -9.13M | -4.68M | -6.55M | -5.58M | -1.41M |
| Net Income to Common | -9.61M | -9.13M | -4.68M | -6.55M | -5.58M | -1.41M |
| Shares Outstanding (Basic) | 3.08M | 2.54M | 2.51M | 1.90M | 1.84M | 1.82M |
| Shares Outstanding (Diluted) | 3.08M | 2.54M | 2.51M | 1.90M | 1.84M | 1.82M |
| EPS (Basic) | -3.12 | -3.59 | -1.86 | -3.45 | -3.04 | -0.78 |
| EPS (Diluted) | -3.12 | -3.59 | -1.86 | -3.45 | -3.04 | -0.78 |
| Free Cash Flow | -2.24M | -1.06M | -555.00K | -3.62M | -6.53M | -9.45M |
| Free Cash Flow Per Share | -0.73 | -0.42 | -0.22 | -1.91 | -3.55 | -5.20 |
| Gross Margin | -78.03% | -50.06% | 9.41% | 4.54% | 13.23% | 20.39% |
| Operating Margin | -181.88% | -126.40% | -31.32% | -39.17% | -34.46% | -18.34% |
| Profit Margin | -207.92% | -144.88% | -33.48% | -42.82% | -34.78% | -8.37% |
| Free Cash Flow Margin | -48.57% | -16.83% | -3.97% | -23.70% | -40.68% | -55.94% |
| EBITDA | -8.34M | -7.90M | -4.21M | -5.60M | -5.03M | -2.55M |
| EBITDA Margin | -180.48% | -125.33% | -30.12% | -36.64% | -31.30% | -15.09% |
| D&A For EBITDA | 65.00K | 67.00K | 167.00K | 387.00K | 507.00K | 549.00K |
| EBIT | -8.40M | -7.97M | -4.38M | -5.99M | -5.53M | -3.10M |
| EBIT Margin | -181.88% | -126.40% | -31.32% | -39.17% | -34.46% | -18.34% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 183.00K | 200.00K | 498.00K | 549.00K | 211.00K | 5.10M |
| Cash & Short-Term Investments | 183.00K | 200.00K | 498.00K | 549.00K | 211.00K | 5.10M |
| Accounts Receivable | 566.00K | 330.00K | 2.15M | 1.68M | 2.23M | 4.24M |
| Other Receivables | 2.79M | 2.79M | 2.79M | |||
| Receivables | 566.00K | 330.00K | 2.15M | 4.46M | 5.02M | 7.03M |
| Inventory | 9.23M | 9.43M | 12.89M | 16.52M | 15.46M | 9.02M |
| Prepaid Expenses | 60.00K | 76.00K | 53.00K | 455.00K | 2.63M | 4.01M |
| Total Current Assets | 10.04M | 10.03M | 15.60M | 21.99M | 23.32M | 25.15M |
| Property, Plant & Equipment | 162.00K | 406.00K | 1.84M | 3.16M | 778.00K | 1.93M |
| Other Long-Term Assets | 108.00K | 108.00K | 93.00K | 93.00K | ||
| Total Assets | 10.20M | 10.44M | 17.55M | 25.26M | 24.19M | 27.18M |
| Accounts Payable | 2.46M | 2.51M | 408.00K | 1.76M | 230.00K | 328.00K |
| Accrued Expenses | 930.00K | 862.00K | 500.00K | 551.00K | 631.00K | 606.00K |
| Short-Term Debt | 2.73M | 4.47M | 4.80M | 4.24M | 1.88M | |
| Current Portion of Long-Term Debt | 1.14M | 612.00K | 266.00K | 321.00K | 211.00K | 242.00K |
| Current Portion of Leases | 76.00K | 475.00K | 1.38M | 1.12M | 268.00K | 721.00K |
| Other Current Liabilities | 2.01M | 1.36M | 1.21M | 2.22M | 2.73M | 1.50M |
| Total Current Liabilities | 9.35M | 10.29M | 8.56M | 10.21M | 5.95M | 3.39M |
| Long-Term Debt | 57.00K | 268.00K | ||||
| Long-Term Leases | 474.00K | 1.86M | 268.00K | |||
| Total Liabilities | 9.35M | 10.29M | 9.03M | 12.07M | 6.01M | 3.93M |
| Common Stock | 2.00K | 2.00K | 1.00K | 1.00K | ||
| Additional Paid-In Capital | 42.38M | 39.65M | 38.89M | 38.89M | 37.33M | 36.82M |
| Retained Earnings | -41.48M | -39.47M | -30.34M | -25.66M | -19.11M | -13.53M |
| Treasury Stock | -40.00K | -40.00K | -40.00K | -40.00K | -40.00K | -40.00K |
| Shareholders' Equity | 857.00K | 144.00K | 8.51M | 13.19M | 18.18M | 23.25M |
| Total Liabilities & Equity | 10.20M | 10.44M | 17.55M | 25.26M | 24.19M | 27.18M |
| Total Debt | 3.94M | 5.56M | 6.92M | 7.54M | 2.42M | 1.50M |
| Net Cash (Debt) | -3.76M | -5.36M | -6.42M | -6.99M | -2.21M | 3.60M |
| Net Cash Per Share | -1.22 | -2.11 | -2.56 | -3.68 | -1.20 | 1.98 |
| Filing Date Shares Outstanding | 3.85M | 3.64M | 2.51M | 2.51M | 1.85M | 1.83M |
| Total Common Shares Outstanding | 3.81M | 2.68M | 2.51M | 2.51M | 1.85M | 1.83M |
| Working Capital | 695.00K | -262.00K | 7.04M | 11.78M | 17.37M | 21.76M |
| Book Value Per Share | 0.22 | 0.05 | 3.39 | 5.26 | 9.83 | 12.73 |
| Tangible Book Value | 857.00K | 144.00K | 8.51M | 13.19M | 18.18M | 23.25M |
| Tangible Book Value Per Share | 0.22 | 0.05 | 3.39 | 5.26 | 9.83 | 12.73 |
| Machinery | 3.83M | 3.83M | 3.83M | 3.81M | 3.80M | 3.78M |
| Leasehold Improvements | 390.00K | 390.00K | 390.00K | 390.00K | 390.00K | 390.00K |
| Order Backlog | 4.31M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -9.61M | -9.13M | -4.68M | -6.55M | -5.58M | -1.41M |
| Depreciation & Amortization | 65.00K | 67.00K | 167.00K | 387.00K | 507.00K | 1.20M |
| Asset Writedown & Restructuring Costs | 347.00K | 347.00K | ||||
| Stock-Based Compensation | 306.00K | 8.00K | 515.00K | |||
| Other Operating Activities | 1.34M | 2.08M | 900.00K | 450.00K | -1.72M | |
| Change in Accounts Receivable | 1.47M | 1.82M | -477.00K | 554.00K | 2.01M | -3.05M |
| Change in Inventory | 1.79M | 1.50M | 2.73M | -1.51M | -6.44M | 77.00K |
| Change in Accounts Payable | 1.02M | 1.52M | -1.35M | 1.53M | -98.00K | 16.00K |
| Change in Income Taxes | 787.00K | 1.57M | ||||
| Change in Other Net Operating Assets | 926.00K | 730.00K | 1.39M | 1.71M | 2.58M | -6.06M |
| Operating Cash Flow | -2.24M | -1.06M | -536.00K | -3.43M | -6.51M | -9.38M |
| Capital Expenditures | -19.00K | -194.00K | -25.00K | -71.00K | ||
| Investing Cash Flow | -19.00K | -194.00K | -25.00K | -71.00K | ||
| Short-Term Debt Issued | 437.00K | 559.00K | 2.35M | |||
| Long-Term Debt Issued | 330.00K | 9.00K | 257.00K | 1.88M | ||
| Total Debt Issued | 1.40M | 767.00K | 568.00K | 2.61M | 1.88M | |
| Short-Term Debt Repaid | -761.00K | -64.00K | ||||
| Long-Term Debt Repaid | -205.00K | -242.00K | -267.00K | |||
| Total Debt Repaid | -2.33M | -761.00K | -64.00K | -205.00K | -242.00K | -267.00K |
| Net Debt Issued (Repaid) | -929.00K | 6.00K | 504.00K | 2.41M | 1.64M | -267.00K |
| Issuance of Common Stock | 3.18M | 757.00K | 1.56M | 13.17M | ||
| Financing Cash Flow | 2.25M | 763.00K | 504.00K | 3.96M | 1.64M | 12.91M |
| Net Cash Flow | 8.00K | -298.00K | -51.00K | 338.00K | -4.89M | 3.46M |
| Free Cash Flow | -2.24M | -1.06M | -555.00K | -3.62M | -6.53M | -9.45M |
| Free Cash Flow Margin | -48.57% | -16.83% | -3.97% | -23.70% | -40.68% | -55.94% |
| Free Cash Flow Per Share | -0.73 | -0.42 | -0.22 | -1.91 | -3.55 | -5.20 |
| Levered Free Cash Flow | 2.55M | 2.53M | 933.00K | -1.29M | -4.39M | -7.63M |
| Unlevered Free Cash Flow | 3.10M | 2.98M | 1.34M | -940.75K | -4.36M | -7.59M |
| Cash Interest Paid | 939.00K | 670.00K | 598.00K | |||
| Change in Working Capital | 5.21M | 5.58M | 3.07M | 2.28M | -1.95M | -7.45M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.29M | 4.44M | 8.03M | 7.15M | 16.70M | 45.78M |
| Enterprise Value | 6.05M | 10.43M | 14.62M | 15.58M | 17.12M | 39.81M |
| Last Close Price | 0.54 | 1.67 | 3.20 | 2.85 | 9.03 | 25.06 |
| Forward PE | 44.68 | 44.68 | 44.68 | 44.68 | 44.68 | |
| PS Ratio | 0.49 | 0.70 | 0.57 | 0.47 | 1.04 | 2.71 |
| PB Ratio | 2.38 | 30.83 | 0.94 | 0.54 | 0.92 | 1.97 |
| P/TBV Ratio | 2.63 | 30.83 | 0.94 | 0.54 | 0.92 | 1.97 |
| EV/Sales Ratio | 1.30 | 1.66 | 1.05 | 1.02 | 1.07 | 2.36 |
| Debt / Equity Ratio | 4.60 | 38.62 | 0.81 | 0.57 | 0.13 | 0.06 |
| Net Debt / Equity Ratio | 4.39 | 37.23 | 0.75 | 0.53 | 0.12 | -0.15 |
| Net Debt / EBITDA Ratio | -0.45 | -0.68 | -1.53 | -1.25 | -0.44 | 1.41 |
| Net Debt / FCF Ratio | -1.68 | -5.05 | -11.57 | -1.93 | -0.34 | 0.38 |
| Asset Turnover | 0.34 | 0.45 | 0.65 | 0.62 | 0.62 | 0.75 |
| Inventory Turnover | 0.74 | 0.85 | 0.86 | 0.91 | 1.14 | 1.49 |
| Quick Ratio | 0.08 | 0.05 | 0.31 | 0.49 | 0.88 | 3.57 |
| Current Ratio | 1.07 | 0.97 | 1.82 | 2.15 | 3.92 | 7.41 |
| Return on Equity (ROE) | -245.02% | -211.02% | -43.10% | -41.75% | -26.96% | -8.14% |
| Return on Assets (ROA) | -39.27% | -35.59% | -12.78% | -15.14% | -13.46% | -8.61% |
| Return on Invested Capital (ROIC) | -141.75% | -77.97% | -24.92% | -29.53% | -27.64% | -18.42% |
| Return on Capital Employed (ROCE) | -980.50% | -5,533.30% | -48.70% | -39.80% | -30.30% | -13.00% |
| Earnings Yield | -574.13% | -205.70% | -58.26% | -91.54% | -33.43% | -3.09% |
| FCF Yield | -99.61% | -23.90% | -6.91% | -50.67% | -39.10% | -20.64% |
| Buyback Yield / Dilution | -22.53% | -1.27% | -32.13% | -3.21% | -1.24% | -17.60% |