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POLA

Polar Power, Inc.

POLA

Polar Power, Inc. • NASDAQ
$2.31 ▼ -1.91% (-0.04)
Market Cap $5.79 M
52w High $5.75
52w Low $1.53
Dividend Yield 0%
P/E -0.67
Volume 9.78K
Outstanding Shares 2.51M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.273M ▼ $1.617M ▲ $-4.085M ▼ -320.896% ▼ $-1.63 ▼ $-3.877M ▼
Q2-2025 $2.708M ▲ $1.04M ▼ $-271K ▲ -10.007% ▲ $-0.11 ▲ $-83K ▲
Q1-2025 $1.723M ▼ $1.421M ▲ $-1.265M ▲ -73.418% ▲ $-0.5 ▲ $-1.084M ▲
Q4-2024 $2.622M ▼ $1.356M ▼ $-3.049M ▼ -116.285% ▼ $-1.22 ▼ $-2.875M ▼
Q3-2024 $4.914M $1.384M $13K 0.265% $0.005 $191K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $4K ▼ $12.346M ▼ $9.447M ▼ $2.899M ▼
Q2-2025 $175K ▲ $16.546M ▼ $9.562M ▲ $6.984M ▼
Q1-2025 $68K ▼ $16.592M ▼ $9.337M ▲ $7.255M ▼
Q4-2024 $498K $17.546M ▼ $9.034M ▼ $8.512M ▼
Q3-2024 $498K $20.916M $9.355M $11.561M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-4.085M ▼ $399K ▲ $0 $-570K ▼ $-171K ▼ $399K ▲
Q2-2025 $-271K ▲ $-404K ▲ $0 $511K ▲ $107K ▲ $-404K ▲
Q1-2025 $-1.265M ▲ $-584K ▼ $0 ▲ $154K ▼ $-430K ▼ $-584K ▼
Q4-2024 $-3.049M ▼ $-382K ▲ $-1K ▼ $383K ▲ $0 ▲ $-382K ▲
Q3-2024 $13K $-590K $0 $-31K $-621K $-590K

Five-Year Company Overview

Income Statement

Income Statement Polar Power’s income statement paints a picture of a very small business with uneven performance. Revenue has stayed low and has not shown a clear growth trajectory, which makes it hard to build scale advantages. Profitability has hovered around break-even to modest losses, with no sustained period of solid profits. The company has a history of net losses, and the sharp swings in per‑share results are influenced by the small base of earnings and share-count changes rather than strong underlying growth. Overall, the business model has not yet translated its technical niche into consistent, healthy earnings.

Balance Sheet

Balance Sheet The balance sheet is lean, with a small asset base and only a thin layer of equity supporting the business. Cash balances have been minimal in recent years, which limits flexibility and can create stress if sales or collections are delayed. Debt has crept up from essentially none to a noticeable portion of the capital structure, meaning there is now a clearer obligation to service lenders. While equity remains positive, the cushion is not large, leaving little room for prolonged operational setbacks without needing fresh capital or restructuring. Financially, the company appears fragile and sensitive to shocks.

Cash Flow

Cash Flow Cash flow from operations has been roughly flat to slightly negative over time, indicating the core business is not consistently generating surplus cash on its own. Free cash flow essentially mirrors operating cash flow, as investment spending has been very modest, which may reflect both discipline and limited capacity to invest. This pattern suggests the company relies heavily on working capital swings or external financing rather than a strong internal cash engine. The lack of robust, recurring cash inflows raises questions about how easily the company can fund growth initiatives or withstand downturns without new capital.

Competitive Edge

Competitive Edge Competitively, Polar Power occupies a narrow but clearly defined niche in direct current power systems, differentiating itself from larger, broad-line generator manufacturers. Its proprietary DC alternator technology, focus on battery charging efficiency, and ability to integrate with solar and storage give it a technical edge in certain use cases, especially for telecom, military, and marine customers. Vertical integration and customization capabilities strengthen its value proposition and can make it harder for generic competitors to match its total cost of ownership in those niches. However, the company’s small size, limited resources, and the presence of much larger rivals in adjacent markets mean its moat is focused rather than broad, and its bargaining power with customers and suppliers is likely constrained.

Innovation and R&D

Innovation and R&D Innovation is a clear strength for Polar Power. The company has built proprietary DC generator technology, advanced control systems, and hybrid power solutions that blend generators with renewables and batteries. It is also pushing into newer areas such as mobile EV charging, hybrid systems for construction equipment, microgrids, and small data centers, often in partnership with larger industrial players. This pipeline shows an active effort to extend its technology into multiple high-growth or emerging segments. The key uncertainty is not the existence of ideas, but the ability to commercialize them at scale and turn engineering strengths into durable, profitable revenue streams.

Summary

Overall, Polar Power combines an interesting and specialized technology position with a very constrained financial profile. The company appears strong in innovation and differentiated DC power solutions, with credible arguments for lower lifetime costs in its chosen niches. At the same time, the business is very small, has struggled to generate consistent profits, and operates with thin capital buffers and modest cash resources. Future outcomes will likely hinge on whether it can convert its product pipeline and partnerships into steady, diversified revenue while managing funding needs and competition from much larger players. For observers, this is a story of promising technology set against meaningful execution and financial resilience risks.

NEWS

November 21, 2025 · 7:00 AM UTC

Polar Power Inc. Receives Purchase Order for Mobile Electric Vehicle Fast Chargers to Address the Growing Need for Emergency Roadside Assistance

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November 20, 2025 · 4:05 PM UTC

Polar Power Reports Third Quarter 2025 Financial Results

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October 28, 2025 · 7:30 AM UTC

Polar received a Military contract to supply compact and light weight DC Generators for a mobile application

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