POLA · Polar Power, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.73M | - | $1.27M | $2.71M | $1.72M | - | $4.91M | $4.66M | $1.77M | - |
| Cost of Revenue | $593.0K | - | $3.53M | $1.78M | $1.40M | - | $3.49M | $2.83M | $2.18M | - |
| Gross Profit | $1.14M | - | ($2.26M) | $930.0K | $320.0K | - | $1.42M | $1.83M | ($402.0K) | - |
| R&D | $169.0K | - | $157.0K | $146.0K | $160.0K | - | $172.0K | $195.0K | $220.0K | - |
| SG&A | $783.0K | - | $807.0K | $710.0K | $1.00M | - | $960.0K | $913.0K | $1.13M | - |
| Total Operating Expenses | $1.11M | - | $1.62M | $1.04M | $1.42M | - | $1.38M | $1.37M | $1.58M | - |
| D&A | $16.0K | - | $17.0K | $17.0K | $17.0K | - | $25.0K | $55.0K | $66.0K | - |
| Operating Income | $24.0K | - | ($3.88M) | ($110.0K) | ($1.10M) | - | $40.0K | $460.0K | ($1.98M) | - |
| Interest Expense | $202.0K | - | $208.0K | $171.0K | $163.0K | - | $171.0K | $126.0K | $163.0K | - |
| Income Tax | - | - | - | - | - | - | - | - | - | - |
| Net Income | ($178.0K) | - | ($4.08M) | ($271.0K) | ($1.26M) | - | $13.0K | $501.0K | ($2.14M) | - |
| EPS - Basic | ($0.05) | - | ($1.63) | ($0.11) | ($0.50) | - | $0.00 | $0.03 | ($0.12) | - |
| EPS - Diluted | ($0.05) | - | ($1.63) | ($0.11) | ($0.50) | - | $0.00 | $0.03 | ($0.12) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $27.0K | $200.0K | $4.0K | $175.0K | $68.0K | $498.0K | $498.0K | $1.12M | $212.0K | $549.0K |
| Accounts Receivable | $1.51M | $330.0K | $856.0K | $2.03M | $1.69M | $2.15M | $2.95M | $2.31M | $1.28M | $1.68M |
| Inventory | $9.55M | $9.43M | $10.89M | $12.99M | $13.13M | $12.89M | $15.03M | $15.78M | $16.22M | $16.52M |
| Accounts Payable | $2.62M | $2.51M | $1.51M | $858.0K | $709.0K | $408.0K | $346.0K | $597.0K | $1.19M | $1.76M |
| Current Assets | $11.16M | $10.03M | $11.82M | $15.24M | $14.96M | $15.60M | $18.65M | $19.59M | $20.95M | $21.99M |
| Total Assets | $11.45M | $10.44M | $12.35M | $16.55M | $16.59M | $17.55M | $20.92M | $22.18M | $23.86M | $25.26M |
| Current Liabilities | $9.06M | $10.29M | $9.45M | $9.49M | $9.14M | $8.56M | $8.52M | $9.44M | $11.28M | $10.21M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | $64.0K |
| Total Liabilities | $9.06M | $10.29M | $9.45M | $9.56M | $9.34M | $9.03M | $9.36M | $10.63M | $12.81M | $12.07M |
| Stockholders' Equity | $2.39M | $144.0K | $2.90M | $6.98M | $7.25M | $8.51M | $11.56M | $11.55M | $11.05M | $13.19M |
| Retained Earnings | ($39.65M) | ($39.47M) | ($35.96M) | ($31.87M) | ($31.60M) | ($30.34M) | ($27.29M) | ($27.30M) | ($27.80M) | ($25.66M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($2.19M) | - | - | - | ($584.0K) | - | - | - | ($989.0K) | - |
| Investing Cash Flow | - | - | - | - | - | - | - | - | - | - |
| Financing Cash Flow | $2.02M | - | - | - | $154.0K | - | - | - | $652.0K | - |
| CapEx | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 65.7% | - | -177.5% | 34.3% | 18.6% | - | 29.0% | 39.3% | -22.6% | - |
| Operating margin | 1.4% | - | -304.6% | -4.1% | -63.9% | - | 0.8% | 9.9% | -111.5% | - |
| EBITDA margin | 2.3% | - | -303.2% | -3.4% | -62.9% | - | 1.3% | 11.1% | -107.8% | - |
| Net margin | -10.3% | - | -320.9% | -10.0% | -73.4% | - | 0.3% | 10.8% | -120.7% | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | 9.8% | - | 12.3% | 5.4% | 9.3% | - | 3.5% | 4.2% | 12.4% | - |
| SG&A / Revenue | 45.3% | - | 63.4% | 26.2% | 58.1% | - | 19.5% | 19.6% | 63.4% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -1.6% | - | -33.1% | -1.6% | -7.6% | - | 0.1% | 2.3% | -9.0% | - |
| Return on equity | -7.4% | - | -140.9% | -3.9% | -17.4% | - | 0.1% | 4.3% | -19.4% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 1.23 | 0.97 | 1.25 | 1.61 | 1.64 | 1.82 | 2.19 | 2.08 | 1.86 | 2.15 |
| Quick ratio | 0.18 | 0.06 | 0.10 | 0.24 | 0.20 | 0.32 | 0.42 | 0.40 | 0.42 | 0.54 |
| Cash ratio | 0.00 | 0.02 | 0.00 | 0.02 | 0.01 | 0.06 | 0.06 | 0.12 | 0.02 | 0.05 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | 0.00 |
| Debt / Assets | - | - | - | - | - | - | - | - | - | 0.00 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | 0.1x | - | -18.6x | -0.6x | -6.8x | - | 0.2x | 3.7x | -12.1x | - |
| Equity multiplier | 4.79 | 72.48 | 4.26 | 2.37 | 2.29 | 2.06 | 1.81 | 1.92 | 2.16 | 1.92 |
| Liabilities / Assets | 0.79 | 0.99 | 0.77 | 0.58 | 0.56 | 0.51 | 0.45 | 0.48 | 0.54 | 0.48 |
| Efficiency | ||||||||||
| Asset turnover | 0.15 | - | 0.10 | 0.16 | 0.10 | - | 0.23 | 0.21 | 0.07 | - |
| Inventory turnover | 0.06 | - | 0.32 | 0.14 | 0.11 | - | 0.23 | 0.18 | 0.13 | - |
| Days sales outstanding | 319d | - | 245d | 274d | 357d | - | 219d | 181d | 264d | - |
| Days inventory outstanding | 5876d | - | 1125d | 2667d | 3417d | - | 1572d | 2036d | 2720d | - |
| Days payable outstanding | 1611d | - | 156d | 176d | 184d | - | 36d | 77d | 200d | - |
| Cash conversion cycle | 4585d | - | 1215d | 2765d | 3590d | - | 1755d | 2140d | 2783d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 0.3% | - | -74.1% | -41.9% | -2.9% | - | 157.1% | -16.6% | -57.6% | - |
| Revenue CAGR (3y) | -25.6% | - | -9.3% | -14.1% | -22.6% | - | 5.9% | -1.3% | -14.7% | - |
| Revenue CAGR (5y) | -9.6% | - | -12.6% | -21.8% | -9.6% | - | -6.7% | -12.8% | -25.5% | - |
| Gross profit growth (YoY) | 254.7% | - | - | -49.2% | - | - | - | 24.2% | - | - |
| Operating income growth (YoY) | - | - | - | - | 44.4% | - | - | - | -91.2% | - |
| Net income growth (YoY) | 85.9% | - | - | - | 40.9% | - | - | - | -92.5% | - |
| EPS growth (YoY) | 90.0% | - | - | - | -316.7% | - | - | -50.0% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -67.1% | -98.3% | -74.9% | -39.5% | -34.3% | -35.5% | -21.8% | -30.6% | -35.3% | -27.5% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$6.30M totalDCPower Systems$4.49M · 71.1%
Accessories$1.67M · 26.4%
Engineering And Tech Support Services$152.0K · 2.4%
Geographic
$6.72M totalUS$5.89M · 87.6%
International Sales$415.0K · 6.2%
United Kingdom Europe And Middle East$309.0K · 4.6%
Australia South Pacific Islands$41.0K · 0.6%
CA$34.0K · 0.5%
Other Asia Pacific$31.0K · 0.5%
Peer comparison
Same SIC group: Miscellaneous Electrical Machinery, Equipment & Supplies
Comparing Polar Power against the 5 most active filers in the same SIC group.