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Complete financial analysis of Polar Power, Inc. (POLA) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Polar Power, Inc., a leading company in the Electrical Equipment & Parts industry within the Industrials sector.
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Polar Power, Inc. (POLA)
About Polar Power, Inc.
Polar Power, Inc. designs, manufactures, and sells direct current (DC) power generators, renewable energy, and cooling systems in the United States and internationally. The company offers DC base power systems, DC hybrid power systems, DC solar hybrid power systems, and mobile power systems. Its DC power systems are available in diesel, natural gas, LPG/propane, and renewable fuel formats. The company serves customers in the telecommunications, military, commercial, industrial, and marine markets. It sells its products through a direct sales force, and a network of independent service providers and dealers. The company was formerly known as Polar Products, Inc. and changed its name to Polar Power, Inc. in October 1991. Polar Power, Inc. was incorporated in 1979 and is based in Gardena, California.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 15.29M | 16.06M | 16.90M | 9.03M | 24.80M | 24.05M | 14.42M | 22.80M | 6.85M | 5.20M |
| Cost of Revenue | 14.60M | 13.93M | 13.45M | 14.65M | 19.88M | 16.61M | 9.58M | 12.62M | 4.43M | 3.29M |
| Gross Profit | 695.00K | 2.13M | 3.45M | -5.62M | 4.92M | 7.43M | 4.84M | 10.18M | 2.41M | 1.91M |
| Gross Profit Ratio | 4.54% | 13.23% | 20.39% | -62.26% | 19.84% | 30.91% | 33.58% | 44.65% | 35.25% | 36.79% |
| Research & Development | 1.22M | 1.46M | 1.99M | 1.72M | 2.28M | 1.91M | 1.33M | 213.93K | 116.30K | 108.56K |
| General & Administrative | 4.29M | 4.73M | 3.07M | 4.06M | 4.00M | 4.04M | 2.85M | 2.11M | 1.45M | 553.11K |
| Selling & Marketing | 1.17M | 1.47M | 1.49M | 1.56M | 2.62M | 2.58M | 1.35M | 424.58K | 392.31K | 191.79K |
| SG&A | 5.46M | 6.20M | 4.56M | 5.62M | 6.63M | 6.62M | 4.20M | 2.54M | 1.85M | 744.90K |
| Other Expenses | 0.00 | 7.00K | 1.74M | -3.40M | 40.06K | 0.00 | 62.37K | 26.89K | 143.57K | 95.00K |
| Operating Expenses | 6.69M | 7.66M | 6.54M | 7.34M | 8.90M | 8.53M | 5.56M | 2.78M | 2.11M | 948.45K |
| Cost & Expenses | 21.28M | 21.59M | 19.99M | 22.00M | 28.78M | 25.15M | 15.14M | 15.40M | 6.54M | 4.24M |
| Interest Income | 0.00 | 58.00K | 60.00K | 14.00K | 63.00K | 55.71K | 54.79K | 0.00 | 0.00 | 0.00 |
| Interest Expense | 559.00K | 58.00K | 60.00K | 48.00K | 103.34K | 20.17K | 17.82K | 112.55K | 50.97K | 44.93K |
| Depreciation & Amortization | 387.00K | 507.00K | 549.00K | 1.25M | 1.29M | 385.58K | 255.63K | 207.86K | 143.57K | 95.00K |
| EBITDA | -5.60M | -5.02M | -805.00K | -12.33M | -2.65M | -657.50K | -483.96K | 7.61M | 450.10K | 1.06M |
| EBITDA Ratio | -36.63% | -31.26% | -4.76% | -129.73% | -10.70% | -2.73% | -3.23% | 33.38% | 6.57% | 20.38% |
| Operating Income | -5.99M | -5.53M | -3.10M | -12.96M | -3.98M | -1.10M | -721.96K | 7.40M | 306.53K | 965.23K |
| Operating Income Ratio | -39.17% | -34.46% | -18.34% | -143.55% | -16.05% | -4.57% | -5.01% | 32.47% | 4.48% | 18.56% |
| Total Other Income/Expenses | -558.00K | -51.00K | 1.68M | -46.00K | -62.75K | 35.54K | 44.54K | -140.07K | -66.30K | -99.64K |
| Income Before Tax | -6.55M | -5.58M | -1.41M | -13.01M | -4.04M | -1.06M | -677.42K | 7.26M | 240.23K | 865.59K |
| Income Before Tax Ratio | -42.82% | -34.78% | -8.37% | -144.06% | -16.31% | -4.42% | -4.70% | 31.86% | 3.51% | 16.64% |
| Income Tax Expense | 0.00 | -7.00K | 1.80M | -2.14M | 143.40K | -215.00K | 100.16K | 2.86M | 273.57K | 290.34K |
| Net Income | -6.55M | -5.58M | -3.22M | -10.87M | -4.19M | -848.25K | -777.58K | 4.40M | -33.34K | 575.25K |
| Net Income Ratio | -42.82% | -34.73% | -19.05% | -120.37% | -16.89% | -3.53% | -5.39% | 19.31% | -0.49% | 11.06% |
| EPS | -3.45 | -0.43 | -0.25 | -1.00 | -0.41 | -0.08 | -0.08 | 0.58 | 0.00 | 0.06 |
| EPS Diluted | -3.45 | -0.43 | -0.25 | -1.00 | -0.41 | -0.08 | -0.08 | 0.58 | 0.00 | 0.06 |
| Weighted Avg Shares Out | 1.90M | 12.88M | 12.72M | 10.82M | 10.13M | 10.14M | 10.14M | 7.56M | 9.78M | 9.78M |
| Weighted Avg Shares Out (Dil) | 1.90M | 12.88M | 12.72M | 10.82M | 10.13M | 10.14M | 10.14M | 7.56M | 9.78M | 9.78M |
Polar Power, Inc. Announces Closing of Public Offering
Gardena, CA, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Polar Power, Inc. (Nasdaq: POLA) (“Polar Power” or the “Company”), a technology company that designs, manufactures and sells direct current, or DC, power systems, lithium battery powered hybrid solar systems for applications...
Why Is Polar Power (POLA) Stock Down 51% Today?
Polar Power (NASDAQ: POLA ) stock is taking a beating on Friday after the company priced a public offering of its shares. The public offering reveals that the power generator company is selling 4 million shares of POLA stock at a...
Polar Power, Inc. Announces Pricing of Public Offering
Gardena, CA, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Polar Power, Inc. (NASDAQ: POLA), (“Polar Power” or the “Company”) today announced the pricing of its previously announced underwritten public offering of 4,000,000 shares of its common stock. Each share of common...
Polar Power, Inc. Announces Proposed Public Offering of Common Stock
Gardena, CA, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Polar Power, Inc. (NASDAQ: POLA) (“Polar Power” or the “Company”) today announced that it intends to offer to sell shares of its common stock (and/or pre-funded warrants (“Pre-funded Warrants”) in lieu thereof) in...
POLAR POWER AWARDED FIRST PLACE FOR PRESENTATION AT THE GLOBAL TECHNOLOGY CONFERENCE DURING LPG WEEK 2023 IN ROME, ITALY
“NEW OPPORTUNITIES FOR LPG SOLAR HYBRID SYSTEMS IN TELECOM AND OTHER MARKETS (REPLACING DIESEL AND COAL)” NOW AVAILABLE TO THE PUBLIC AT POLARPOWER.COM
Polar Power Reports 12% Growth in Revenue During Third Quarter 2023 Financial Results
GARDENA, CA, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” or the “Company”) (NASDAQ: POLA), a global provider of prime, backup and solar hybrid DC power solutions, today reported its financial results for the three and nine...
Polar Power, Inc., C.E.O. Arthur Sams, to Present at the 35th World LPG Forum Highlighting Cost and Environmental Benefits of Transitioning from Diesel to LPG in Multiple Markets
35th World LGP Forum, 2023 to be Held in Rome During LGP Week November 13-17 GARDENA, CA, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” of the “Company”) (NASDAQ: POLA), a global provider of prime, backup and...
(Updated) Polar Power Announces New 27KW Summit Series Deliveries to Tier-1 Telecom Customers
Pent-up Demand for Higher Powered DC Generators Driving New Product Line Deliveries for Best-in-Class Form Factor, Lower Emissions, Cost, and Efficiency Benefits to 5G Cell Sites
Polar Power Inc. Engages CORE IR for Investor Relations and Shareholder Communications Services
CORE IR to Support Strategic Communications in Conjunction with Corporate Development Activities CORE IR to Support Strategic Communications in Conjunction with Corporate Development Activities
Polar Power Reports Second Quarter 2023 Financial Results
GARDENA, CA, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” or the “Company”) (NASDAQ: POLA), a global provider of prime, backup and solar hybrid DC power solutions, today reported its financial results for the three and six...
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