Polar Pwr Inc Financials

POLA

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Polar Pwr Inc (POLA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 26/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Polar Pwr Inc has an operating margin of -31.3%, meaning the company retains $-31 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -39.2% the prior year.

Growth

Polar Pwr Inc's revenue declined 8.7% year-over-year, from $15.3M to $14.0M. This contraction results in a growth score of 4/100.

Leverage

Polar Pwr Inc carries a low D/E ratio of 1.06, meaning only $1.06 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 72/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Polar Pwr Inc's current ratio of 1.82 indicates adequate short-term liquidity, earning a score of 53/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While Polar Pwr Inc generated -$536K in operating cash flow, capex of $19K consumed most of it, leaving -$555K in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Neutral

5/9

Polar Pwr Inc passes 5 of 9 financial strength tests. 1 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.11x

For every $1 of reported earnings, Polar Pwr Inc generates $0.11 in operating cash flow (-$536K OCF vs -$4.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-6.7x

Polar Pwr Inc earns $-6.7 in operating income for every $1 of interest expense (-$4.4M vs $649K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Revenue

$14.0M

YoY-8.7%

5Y CAGR-10.8%

Polar Pwr Inc generated $14.0M in revenue in fiscal year 2024. This represents a decrease of 8.7% from the prior year.

EBITDA

-$4.2M

YoY+24.9%

Polar Pwr Inc's EBITDA was -$4.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 24.9% from the prior year.

Free Cash Flow

-$555K

YoY+84.7%

Polar Pwr Inc generated -$555K in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 84.7% from the prior year.

Net Income

-$4.7M

YoY+28.6%

Polar Pwr Inc reported -$4.7M in net income in fiscal year 2024. This represents an increase of 28.6% from the prior year.

EPS (Diluted)

$-1.86

YoY+46.1%

Polar Pwr Inc earned $-1.86 per diluted share (EPS) in fiscal year 2024. This represents an increase of 46.1% from the prior year.

Cash & Debt

$498K

YoY-9.3%

5Y CAGR-29.4%

Polar Pwr Inc held $498K in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

YoY+0.0%

Polar Pwr Inc had 3M shares outstanding in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Gross Margin

9.4%

YoY+4.9pp

5Y CAGR-10.4pp

Polar Pwr Inc's gross margin was 9.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 4.9 percentage points from the prior year.

Operating Margin

-31.3%

YoY+7.9pp

5Y CAGR-15.3pp

Polar Pwr Inc's operating margin was -31.3% in fiscal year 2024, reflecting core business profitability. This is up 7.9 percentage points from the prior year.

Net Margin

-33.5%

YoY+9.3pp

5Y CAGR-17.2pp

Polar Pwr Inc's net profit margin was -33.5% in fiscal year 2024, showing the share of revenue converted to profit. This is up 9.3 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$771K

YoY-36.9%

5Y CAGR-19.5%

Polar Pwr Inc invested $771K in research and development in fiscal year 2024. This represents a decrease of 36.9% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$19K

YoY-90.2%

5Y CAGR-43.8%

Polar Pwr Inc invested $19K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 90.2% from the prior year.

POLA Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$14.0M-8.7%	$15.3M-4.8%	$16.1M-5.0%	$16.9M+87.1%	$9.0M-63.6%	$24.8M
Cost of Revenue	$12.7M-13.3%	$14.6M+4.8%	$13.9M+3.6%	$13.5M-8.2%	$14.7M-26.3%	$19.9M
Gross Profit	$1.3M+89.1%	$695K-67.3%	$2.1M-38.3%	$3.4M+161.3%	-$5.6M-214.3%	$4.9M
R&D Expenses	$771K-36.9%	$1.2M-16.3%	$1.5M-26.5%	$2.0M+15.3%	$1.7M-24.3%	$2.3M
SG&A Expenses	$3.9M-8.9%	$4.3M-9.2%	$4.7M+54.0%	$3.1M-24.4%	$4.1M+1.4%	$4.0M
Operating Income	-$4.4M+27.0%	-$6.0M-8.3%	-$5.5M-78.6%	-$3.1M+76.1%	-$13.0M-225.6%	-$4.0M
Interest Expense	$649K+16.1%	$559K+863.8%	$58K-3.3%	$60K0.0%	$60K-41.7%	$103K
Income Tax	N/A	N/A	N/A	N/A	-$2.1M	N/A
Net Income	-$4.7M+28.6%	-$6.5M-17.3%	-$5.6M-294.9%	-$1.4M+87.0%	-$10.9M-168.8%	-$4.0M
EPS (Diluted)	$-1.86+46.1%	$-3.45	$-0.43	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$1.3M-53.0%	$2.7M+57.2%	$1.7M-34.3%	$2.6M-43.8%	$4.7M+162.5%	$1.8M-50.8%	$3.6M+88.6%	$1.9M
Cost of Revenue	$3.5M+98.7%	$1.8M+26.7%	$1.4M-66.3%	$4.2M+47.1%	$2.8M+29.9%	$2.2M-56.7%	$5.0M+149.2%	$2.0M
Gross Profit	-$2.3M-343.0%	$930K+190.6%	$320K+120.8%	-$1.5M-184.1%	$1.8M+555.7%	-$402K+71.8%	-$1.4M-1221.3%	-$108K
R&D Expenses	$157K+7.5%	$146K-8.8%	$160K-13.0%	$184K-5.6%	$195K-11.4%	$220K-7.9%	$239K-20.1%	$299K
SG&A Expenses	$807K+13.7%	$710K-29.1%	$1.0M+10.1%	$909K-0.4%	$913K-18.9%	$1.1M+7.1%	$1.1M+5.9%	$992K
Operating Income	-$3.9M-3424.5%	-$110K+90.0%	-$1.1M+62.0%	-$2.9M-729.6%	$460K+123.2%	-$2.0M+33.4%	-$3.0M-77.6%	-$1.7M
Interest Expense	$208K+21.6%	$171K+4.3%	$164K+6.5%	$154K-14.0%	$179K+9.8%	$163K-11.4%	$184K+7.6%	$171K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$4.1M-1407.4%	-$271K+78.6%	-$1.3M+58.5%	-$3.0M-708.6%	$501K+123.4%	-$2.1M+32.1%	-$3.2M-71.1%	-$1.8M
EPS (Diluted)	$-1.63-1381.8%	$-0.11+78.0%	$-0.50+59.0%	$-1.22	$0.20+123.5%	$-0.85	$-3.19	$-0.14

POLA Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$17.5M-30.5%	$25.3M+4.4%	$24.2M-11.0%	$27.2M+52.7%	$17.8M-24.5%	$23.6M
Current Assets	$15.6M-29.1%	$22.0M-5.7%	$23.3M-7.3%	$25.2M+71.8%	$14.6M-23.7%	$19.2M
Cash & Equivalents	$498K-9.3%	$549K+160.2%	$211K-95.9%	$5.1M+209.9%	$1.6M-42.0%	$2.8M
Inventory	$12.9M-22.0%	$16.5M+6.9%	$15.5M+71.5%	$9.0M-0.8%	$9.1M-34.6%	$13.9M
Accounts Receivable	$2.2M+28.5%	$1.7M-24.8%	$2.2M-47.4%	$4.2M+256.6%	$1.2M+27.4%	$934K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$9.0M-25.2%	$12.1M+100.9%	$6.0M+52.8%	$3.9M-37.7%	$6.3M+21.6%	$5.2M
Current Liabilities	$8.6M-16.2%	$10.2M+71.7%	$6.0M+75.3%	$3.4M-24.9%	$4.5M+64.5%	$2.7M
Long-Term Debt	N/A	$64K-76.1%	$268K-47.5%	$510K-34.4%	$777K-29.8%	$1.1M
Total Equity	$8.5M-35.5%	$13.2M-27.5%	$18.2M-21.8%	$23.3M+102.3%	$11.5M-37.5%	$18.4M
Retained Earnings	-$30.3M-18.2%	-$25.7M-34.3%	-$19.1M-41.3%	-$13.5M-11.7%	-$12.1M-875.3%	-$1.2M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$12.3M-25.4%	$16.5M-0.3%	$16.6M-5.4%	$17.5M-20.9%	$22.2M-7.0%	$23.9M-5.5%	$25.3M-11.0%	$28.4M
Current Assets	$11.8M-22.4%	$15.2M+1.9%	$15.0M-4.1%	$15.6M-20.4%	$19.6M-6.5%	$20.9M-4.7%	$22.0M-11.2%	$24.8M
Cash & Equivalents	$4K-97.7%	$175K+157.4%	$68K-86.3%	$498K-55.5%	$1.1M+427.8%	$212K-61.4%	$549K+85.5%	$296K
Inventory	$10.9M-16.2%	$13.0M-1.1%	$13.1M+1.9%	$12.9M-18.3%	$15.8M-2.7%	$16.2M-1.8%	$16.5M-13.7%	$19.2M
Accounts Receivable	$856K-57.9%	$2.0M+20.4%	$1.7M-21.6%	$2.2M-6.8%	$2.3M+80.2%	$1.3M-23.5%	$1.7M+5.9%	$1.6M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$9.4M-1.2%	$9.6M+2.4%	$9.3M+3.4%	$9.0M-15.0%	$10.6M-17.0%	$12.8M+6.2%	$12.1M-11.3%	$13.6M
Current Liabilities	$9.4M-0.4%	$9.5M+3.8%	$9.1M+6.8%	$8.6M-9.3%	$9.4M-16.3%	$11.3M+10.4%	$10.2M-10.8%	$11.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	$64K	N/A
Total Equity	$2.9M-58.5%	$7.0M-3.7%	$7.3M-14.8%	$8.5M-26.3%	$11.5M+4.5%	$11.0M-16.2%	$13.2M-10.8%	$14.8M
Retained Earnings	-$36.0M-12.8%	-$31.9M-0.9%	-$31.6M-4.2%	-$30.3M-11.1%	-$27.3M+1.8%	-$27.8M-8.3%	-$25.7M-14.0%	-$22.5M

POLA Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$536K+84.4%	-$3.4M+47.3%	-$6.5M+30.6%	-$9.4M-43.2%	-$6.5M-202.2%	-$2.2M
Capital Expenditures	$19K-90.2%	$194K+676.0%	$25K-64.8%	$71K+273.7%	$19K-94.4%	$338K
Free Cash Flow	-$555K+84.7%	-$3.6M+44.5%	-$6.5M+30.9%	-$9.5M-43.9%	-$6.6M-162.2%	-$2.5M
Investing Cash Flow	-$19K+90.2%	-$194K-676.0%	-$25K+64.8%	-$71K-273.7%	-$19K+94.4%	-$338K
Financing Cash Flow	$504K-87.3%	$4.0M+141.3%	$1.6M-87.3%	$12.9M+140.2%	$5.4M+1921.4%	-$295K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$399K+198.8%	-$404K+30.8%	-$584K-329.4%	-$136K-111.5%	$1.2M+219.2%	-$989K-185.8%	-$346K-23.6%	-$280K
Capital Expenditures	N/A	N/A	N/A	$1K	N/A	N/A	$0	$0
Free Cash Flow	N/A	N/A	N/A	-$137K	N/A	N/A	-$346K-23.6%	-$280K
Investing Cash Flow	N/A	N/A	N/A	-$1K	N/A	N/A	$0	$0
Financing Cash Flow	-$570K-211.5%	$511K+231.8%	$154K+12.4%	$137K+153.9%	-$254K-139.0%	$652K+8.8%	$599K+110.9%	$284K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

POLA Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	9.4%+4.9pp	4.5%-8.7pp	13.2%-7.2pp	20.4%+82.7pp	-62.3%-82.1pp	19.8%
Operating Margin	-31.3%+7.9pp	-39.2%-4.7pp	-34.5%-16.1pp	-18.3%+125.2pp	-143.6%-127.5pp	-16.1%
Net Margin	-33.5%+9.3pp	-42.8%-8.0pp	-34.8%-26.4pp	-8.4%+112.0pp	-120.4%-104.1pp	-16.3%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-26.7%-0.7pp	-25.9%-2.8pp	-23.1%-17.9pp	-5.2%+55.9pp	-61.1%-43.9pp	-17.2%
Current Ratio	1.82-0.3	2.15-1.8	3.92-3.5	7.41+4.2	3.24-3.7	6.98
Debt-to-Equity	1.06+1.1	0.000.0	0.010.0	0.02-0.0	0.070.0	0.06
FCF Margin	-4.0%+19.7pp	-23.7%+17.0pp	-40.7%+15.3pp	-55.9%+16.8pp	-72.7%-62.6pp	-10.1%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	-177.5%-211.9pp	34.3%+15.8pp	18.6%+77.3pp	-58.8%-98.1pp	39.3%+62.0pp	-22.7%+16.9pp	-39.6%-33.9pp	-5.7%
Operating Margin	-304.6%-300.5pp	-4.1%+59.8pp	-63.9%+46.6pp	-110.5%-120.4pp	9.9%+121.4pp	-111.5%-29.0pp	-82.4%+5.1pp	-87.5%
Net Margin	-320.9%-310.9pp	-10.0%+63.4pp	-73.4%+42.9pp	-116.3%-127.1pp	10.8%+131.4pp	-120.7%-33.2pp	-87.5%+9.0pp	-96.5%
Return on Equity	N/A	N/A	N/A	0.1%-4.2pp	4.3%	N/A	N/A	N/A
Return on Assets	-33.1%-31.4pp	-1.6%+6.0pp	-7.6%+9.8pp	-17.4%-19.6pp	2.3%+11.2pp	-9.0%+3.5pp	-12.5%-6.0pp	-6.5%
Current Ratio	1.25-0.4	1.61-0.0	1.64-0.2	1.82-0.3	2.08+0.2	1.86-0.3	2.15-0.0	2.16
Debt-to-Equity	3.26+1.9	1.37+0.1	1.29+0.2	1.06+0.1	0.92-0.2	1.16+1.2	0.00-0.9	0.92
FCF Margin	N/A	N/A	N/A	-5.2%	N/A	N/A	-9.6%+5.0pp	-14.6%

Similar Companies

Linkers LNKS

$15.0M

Advent Technologies Holdng Inc ADN

$3.0M

Expion360 XPON

$7.5M

Erayak Power Sol RAYA

$828K

Flux Pwr Hldgs Inc FLUX

$22.0M

Frequently Asked Questions

What is Polar Pwr Inc's annual revenue?

Polar Pwr Inc (POLA) reported $14.0M in total revenue for fiscal year 2024. This represents a -8.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Polar Pwr Inc's revenue growing?

Polar Pwr Inc (POLA) revenue declined by 8.7% year-over-year, from $15.3M to $14.0M in fiscal year 2024.

Is Polar Pwr Inc profitable?

No, Polar Pwr Inc (POLA) reported a net income of -$4.7M in fiscal year 2024, with a net profit margin of -33.5%.

What is Polar Pwr Inc's earnings per share (EPS)?

Polar Pwr Inc (POLA) reported diluted earnings per share of $-1.86 for fiscal year 2024. This represents a 46.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Polar Pwr Inc's EBITDA?

Polar Pwr Inc (POLA) had EBITDA of -$4.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Polar Pwr Inc's gross margin?

Polar Pwr Inc (POLA) had a gross margin of 9.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Polar Pwr Inc's operating margin?

Polar Pwr Inc (POLA) had an operating margin of -31.3% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Polar Pwr Inc's net profit margin?

Polar Pwr Inc (POLA) had a net profit margin of -33.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Polar Pwr Inc's free cash flow?

Polar Pwr Inc (POLA) generated -$555K in free cash flow during fiscal year 2024. This represents a 84.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Polar Pwr Inc's operating cash flow?

Polar Pwr Inc (POLA) generated -$536K in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Polar Pwr Inc's total assets?

Polar Pwr Inc (POLA) had $17.5M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Polar Pwr Inc's capital expenditures?

Polar Pwr Inc (POLA) invested $19K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Polar Pwr Inc spend on research and development?

Polar Pwr Inc (POLA) invested $771K in research and development during fiscal year 2024.

How many shares does Polar Pwr Inc have outstanding?

Polar Pwr Inc (POLA) had 3M shares outstanding as of fiscal year 2024.

What is Polar Pwr Inc's current ratio?

Polar Pwr Inc (POLA) had a current ratio of 1.82 as of fiscal year 2024, which is generally considered healthy.

What is Polar Pwr Inc's debt-to-equity ratio?

Polar Pwr Inc (POLA) had a debt-to-equity ratio of 1.06 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Polar Pwr Inc's return on assets (ROA)?

Polar Pwr Inc (POLA) had a return on assets of -26.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Polar Pwr Inc's cash runway?

Based on fiscal year 2024 data, Polar Pwr Inc (POLA) had $498K in cash against an annual operating cash burn of $536K. This gives an estimated cash runway of approximately 11 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Polar Pwr Inc's Piotroski F-Score?

Polar Pwr Inc (POLA) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Polar Pwr Inc's earnings high quality?

Polar Pwr Inc (POLA) has an earnings quality ratio of 0.11x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Polar Pwr Inc cover its interest payments?

Polar Pwr Inc (POLA) has an interest coverage ratio of -6.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Polar Pwr Inc?

Polar Pwr Inc (POLA) scores 26 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.