Revenue performance remains highly erratic, with a 54.87% year-over-year decline highlighting the lack of a recurring revenue base to support the company's negative 50.06% historical gross margin profile.
| Sales/Revenue | 6.31M | 6.3M | 13.97M | 15.29M | 16.06M | 16.9M | 9.03M | 24.8M | 24.05M | 14.42M | 22.8M | 6.85M | 5.2M |
| Revenue Growth % | -54.67% | -54.87% | -8.65% | -4.75% | -4.97% | 87.09% | -63.59% | 3.14% | 66.77% | -36.76% | 233.03% | 31.64% | - |
| Cost of Goods Sold | 8.65M | 9.46M | 12.66M | 14.6M | 13.93M | 13.45M | 14.65M | 19.88M | 16.61M | 9.58M | 12.62M | 4.43M | 3.29M |
| COGS % of Revenue | - | 150.06% | 90.59% | 95.46% | 86.77% | 79.61% | 162.26% | 80.16% | 69.09% | 66.42% | 55.35% | 64.75% | 63.21% |
| Gross Profit | -2.34M | -3.16M | 1.31M | 695K | 2.13M | 3.44M | -5.62M | 4.92M | 7.43M | 4.84M | 10.18M | 2.41M | 1.91M |
| Gross Margin % | -37.06% | -50.06% | 9.41% | 4.54% | 13.23% | 20.39% | -62.26% | 19.84% | 30.91% | 33.58% | 44.65% | 35.25% | 36.79% |
| Gross Profit Growth % | - | -340.18% | 89.06% | -67.29% | -38.32% | 161.27% | -214.3% | -33.81% | 53.51% | -52.45% | 321.9% | 26.11% | - |
| Operating Expenses | 4.5M | 4.81M | 5.69M | 6.68M | 7.66M | 6.54M | 7.34M | 8.9M | 8.53M | 5.56M | 2.78M | 2.11M | 948.45K |
| OpEx % of Revenue | - | 76.33% | 40.72% | 43.71% | 47.7% | 38.73% | 81.29% | 35.89% | 35.48% | 38.58% | 12.18% | 30.77% | 18.23% |
| Selling, General & Admin | 3.85M | 4.17M | 4.92M | 5.46M | 6.2M | 4.56M | 5.62M | 6.63M | 6.62M | 4.2M | 2.54M | 1.85M | 744.9K |
| SG&A % of Revenue | - | 66.09% | 35.2% | 35.72% | 38.6% | 26.97% | 62.21% | 26.71% | 27.54% | 29.11% | 11.13% | 26.97% | 14.32% |
| Research & Development | 656K | 646K | 771K | 1.22M | 1.46M | 1.99M | 1.72M | 2.28M | 1.91M | 1.33M | 213.93K | 116.3K | 108.56K |
| R&D % of Revenue | - | 10.25% | 5.52% | 7.99% | 9.09% | 11.75% | 19.08% | 9.18% | 7.93% | 9.26% | 0.94% | 1.7% | 2.09% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 7K | 0 | 0 | 40.06K | 0 | 62.37K | 26.89K | 143.57K | 95K |
| Operating Income | -6.84M | -7.97M | -4.38M | -5.99M | -5.53M | -3.1M | -12.96M | -3.98M | -1.1M | -721.96K | 7.4M | 306.53K | 965.23K |
| Operating Margin % | -108.46% | -126.4% | -31.32% | -39.17% | -34.46% | -18.34% | -143.55% | -16.05% | -4.57% | -5.01% | 32.47% | 4.48% | 18.56% |
| Operating Income Growth % | - | -82.13% | 26.96% | -8.26% | -78.6% | 76.1% | -225.61% | -262.35% | -52.2% | -109.75% | 2315.43% | -68.24% | - |
| EBITDA | -6.78M | -7.9M | -4.21M | -5.6M | -5.03M | -2.55M | -11.72M | -2.69M | -713.21K | -466.33K | 7.61M | 450.1K | 1.06M |
| EBITDA Margin % | -107.42% | -125.33% | -30.12% | -36.64% | -31.3% | -15.09% | -129.75% | -10.86% | -2.97% | -3.23% | 33.38% | 6.57% | 20.38% |
| EBITDA Growth % | -100.56% | -87.76% | 24.9% | -11.48% | -97.18% | 78.25% | -335.18% | -277.54% | -52.94% | -106.13% | 1591.13% | -57.55% | - |
| D&A (Non-Cash Add-back) | 66K | 67K | 167K | 387K | 507K | 549K | 1.25M | 1.29M | 385.58K | 255.63K | 207.86K | 143.57K | 95K |
| EBIT | -6.83M | -8.41M | -4.03M | -5.99M | -5.53M | -1.35M | -12.95M | -3.94M | -1.04M | -739.59K | 7.38M | 291.2K | 910.51K |
| Net Interest Income | -758K | -720K | -428K | -559K | -58K | -60K | -60K | -63K | 35.54K | 36.97K | -112.55K | -50.97K | -44.93K |
| Interest Income | 0 | 0 | 221K | 0 | 0 | 0 | 0 | 40K | 55.71K | 54.79K | 0 | 0 | 0 |
| Interest Expense | 758K | 720K | 649K | 559K | 58K | 60K | 60K | 103K | 20.17K | 17.82K | 112.55K | 50.97K | 44.93K |
| Other Income/Expense | -1.2M | -1.17M | -302K | -558K | -51K | 1.68M | -46K | -62.75K | 35.54K | 44.54K | -140.07K | -66.3K | -99.64K |
| Pretax Income | -8.05M | -9.13M | -4.68M | -6.55M | -5.58M | -1.41M | -13.01M | -4.04M | -1.06M | -677.42K | 7.26M | 240.23K | 865.59K |
| Pretax Margin % | -127.53% | -144.88% | -33.48% | -42.82% | -34.78% | -8.37% | -144.06% | -16.31% | -4.42% | -4.7% | 31.86% | 3.51% | 16.64% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | -2.14M | 143.4K | -215K | 100.16K | 2.86M | 273.57K | 290.34K |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 16.44% | -3.55% | 20.22% | -14.79% | 39.39% | 113.88% | 33.54% |
| Net Income | -8.05M | -9.13M | -4.68M | -6.55M | -5.58M | -3.22M | -10.87M | -4.19M | -848.25K | -777.58K | 4.4M | -33.34K | 575.25K |
| Net Margin % | -127.53% | -144.88% | -33.48% | -42.82% | -34.73% | -19.05% | -120.37% | -16.89% | -3.53% | -5.39% | 19.31% | -0.49% | 11.06% |
| Net Income Growth % | -111.74% | -95.27% | 28.57% | -17.41% | -73.31% | 70.4% | -159.57% | -393.74% | -9.09% | -117.66% | 13306.18% | -105.8% | - |
| Net Income (Continuing) | -8.05M | -9.13M | -4.68M | -6.55M | -5.58M | -1.41M | -10.87M | -4.04M | -848.25K | -757.42K | 4.4M | -33.34K | 575.25K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -2.31 | -3.59 | -1.86 | -0.50 | -0.43 | -0.25 | -1.00 | -0.41 | -0.08 | -0.08 | 0.58 | -0.00 | 0.09 |
| EPS Growth % | -90.82% | -93.01% | -272% | -16.28% | -72% | 75% | -143.9% | -390.43% | -9% | -113.22% | - | -103.98% | - |
| EPS (Basic) | - | -3.59 | -1.86 | -0.50 | -0.43 | -0.25 | -1.00 | -0.41 | -0.08 | -0.08 | 0.58 | -0.00 | 0.06 |
| Diluted Shares Outstanding | 3.48M | 2.54M | 2.51M | 13.12M | 12.88M | 12.72M | 10.82M | 10.13M | 10.14M | 10.14M | 7.56M | 9.78M | 6.72M |
| Basic Shares Outstanding | 3.48M | 2.54M | 2.51M | 13.12M | 12.88M | 12.72M | 10.82M | 10.13M | 10.14M | 10.14M | 7.56M | 9.78M | 6.72M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - |
Imminent liquidity depletion risk
As reported in recent financial filings, Polar Power experienced a significant 54.87% year-over-year revenue decline, highlighting the company's extreme sensitivity to the capital expenditure cycles of major telecommunications carriers and the lack of a recurring revenue base to stabilize top-line performance during industry downturns.
The erratic quarterly revenue figures suggest that the company's business model is heavily reliant on lumpy, project-based infrastructure deployments rather than consistent service contracts. This lack of revenue durability makes the firm highly susceptible to the timing of specific telecom tower build-outs, which appears to have stalled significantly in recent periods.
Based on the provided income statement data, the company's gross margin has collapsed to a negative 50.06%, indicating that the current manufacturing throughput is insufficient to absorb fixed factory overheads and suggesting potential inventory impairment issues that may further erode shareholder value in coming quarters.
The inability to maintain positive gross margins in an industrial manufacturing context implies a fundamental breakdown in unit economics. Investors should monitor whether these negative margins are the result of temporary pricing concessions to clear inventory or a permanent misalignment between production costs and the market value of the company's DC power solutions.
According to the latest quarterly results, the company's operating income remains deeply negative, as SG&A expenses continue to outpace gross profit, demonstrating that the firm lacks the necessary scale to achieve operating leverage or cover its fixed cost base under current production volumes.
The persistent inability to scale operating income suggests that the company's overhead structure is too heavy for its current revenue generation capacity. Without a substantial increase in volume, the firm appears trapped in a cycle where fixed costs continue to suppress profitability, regardless of any marginal improvements in operational efficiency.
As indicated by the $200,000 cash balance relative to ongoing operating losses, the company faces a severe liquidity crunch that may necessitate dilutive equity financing, casting doubt on its ability to continue as a going concern without a radical restructuring of its manufacturing footprint.
Short-term observers may focus on the company's niche technical position in DC power, but the financial reality suggests a distressed asset profile rather than a growth-oriented industrial play. The lack of cash reserves leaves little room for error, and any further delays in project conversion could force management into unfavorable capital raises to sustain basic operations.
Quick answers to the most common questions about buying POLA stock.
For fiscal year 2025, Polar Power, Inc. (POLA) reported total revenue of $6.3M. This represents a 21.2% increase compared to $5.2M in 2014.
Polar Power, Inc. (POLA) reported a net loss of $9.1M for the fiscal year ending 2025.
Polar Power, Inc. (POLA) reported an operating income of $-8.0M, resulting in an operating profit margin of -126.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Polar Power, Inc. (POLA) generated $-3.2M in gross profit for the year, representing a gross profit margin of -50.1%. This demonstrates the company's core pricing power and production efficiency.