Polar Power, Inc. (POLA) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 18, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the POLA SEC filings page.
Polar Power, Inc. (POLA) reported $4.6M in revenue over the twelve months to Jun 30, 2026, down 61.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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).
2025 shows a shrinking operation where gross losses, cash outflows, and near-total liability funding overwhelmed the remaining asset base.
The deterioration is not just lower sales: revenue fell from$14.0M in FY2024 to$6.3M in FY2025. Meanwhile, gross margin moved from9.4% to-50.1% , showing that the smaller revenue base no longer covered product costs and revealing negative unit economics rather than a simple volume decline.
Balance-sheet pressure is now structural: FY2025 liabilities of
Cash conversion moved from
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Polar Power, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Polar Power, Inc. held $200K in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $1.1M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Polar Power, Inc. scores 10/100 among other emerging companies.
Polar Power, Inc. had 4M shares outstanding at the end of fiscal year 2025, against 3M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Polar Power, Inc. scores 88/100 among other emerging companies.
Polar Power, Inc. spent $646K on research and development in fiscal year 2025, which was 4.4% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Polar Power, Inc. scores 23/100 among other emerging companies.
Polar Power, Inc. reported revenue of $6.3M in fiscal year 2025, against $14.0M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Polar Power, Inc. scores 10/100 among other emerging companies.
Polar Power, Inc.'s operations used $1.1M of cash in fiscal year 2025, against $536K used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Polar Power, Inc. scores 80/100 among other emerging companies.
Polar Power, Inc.'s cash, cash equivalents and investments came to $200K at the end of fiscal year 2025, against $10.3M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Polar Power, Inc. scores 5/100 among other emerging companies.
Polar Power, Inc. scores -7.10, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($4.9M) relative to total liabilities ($10.3M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Polar Power, Inc. passes 1 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Polar Power, Inc. reported a net loss of $9.1M while operations used $1.1M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Polar Power, Inc. reported an operating loss of $8.4M against $720K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Polar Power, Inc. generated $1.0M in revenue in Q2 2026. This represents a decrease of 62.4% from the same quarter a year earlier. Against the prior quarter it is down 41.0%.
Polar Power, Inc.'s EBITDA was -$1.7M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 1679.6% from the same quarter a year earlier. Against the prior quarter it is down 4237.5%.
Polar Power, Inc. reported -$1.8M in net income in Q2 2026. This represents a decrease of 575.6% from the same quarter a year earlier. Against the prior quarter it is down 928.7%.
Polar Power, Inc. earned -$0.49 per diluted share (EPS) in Q2 2026. Against the prior quarter it is down 880.0%.
Cash & Balance Sheet
Polar Power, Inc. held $183K in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Polar Power, Inc.'s gross margin was -33.1% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 67.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 98.8 percentage points.
Polar Power, Inc.'s ROE was -213.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 209.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 206.2 percentage points.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Polar Power, Inc. invested $128K in research and development in Q2 2026. This represents a decrease of 12.3% from the same quarter a year earlier. Against the prior quarter it is down 24.3%.
Not reported for Q2 2026.
Not reported for Q2 2026.
POLA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.0M-62.4% | $1.7M+0.3% | $600K-77.1% | $1.3M-74.1% | $2.7M-41.9% | $1.7M-2.9% | $2.6M-27.3% | $4.9M+157.1% |
| Cost of Revenue | $1.4M-23.7% | $593K-57.7% | $2.7M-34.0% | $3.5M+1.2% | $1.8M-37.1% | $1.4M-35.6% | $4.2M-17.3% | $3.5M+72.9% |
| Gross Profit | -$337K-136.2% | $1.1M+254.7% | -$2.1M-39.4% | -$2.3M-258.7% | $930K-49.2% | $320K+179.6% | -$1.5M-7.9% | $1.4M+1418.5% |
| R&D Expenses | $128K-12.3% | $169K+5.6% | $183K-0.5% | $157K-8.7% | $146K-25.1% | $160K-27.3% | $184K-23.0% | $172K-42.5% |
| SG&A Expenses | $1.1M+52.1% | $783K-21.8% | $841K-7.5% | $807K-15.9% | $710K-22.2% | $1.0M-11.1% | $909K-13.5% | $960K-3.2% |
| Operating Income | -$1.7M-1419.1% | $24K+102.2% | -$3.3M-15.2% | -$3.9M-9792.5% | -$110K-123.9% | -$1.1M+44.4% | -$2.9M+2.6% | $40K+102.4% |
| EBITDA | -$1.7M-1679.6% | $40K+103.7% | -$3.3M-15.4% | -$3.9M-6038.5% | -$93K-118.1% | -$1.1M+43.3% | -$2.9M+0.6% | $65K+104.1% |
| Interest Expense | $447K+161.4% | $202K+23.2% | $177K+14.9% | $208K+35.9% | $171K-4.5% | $164K+0.6% | $154K-16.3% | $153K-10.5% |
| Net Income | -$1.8M-575.6% | -$178K+85.9% | -$3.5M-15.2% | -$4.1M-31523.1% | -$271K-154.1% | -$1.3M+40.9% | -$3.0M+3.4% | $13K+100.7% |
| EPS (Basic) | -$0.49-345.5% | -$0.05+90.0% | -$1.35+23.7% | -$1.63-16400.0% | -$0.11-155.0% | -$0.50+41.2% | -$1.77+44.5% | $0.01+107.1% |
| EPS (Diluted) | -$0.49 | -$0.05+90.0% | -$1.35 | -$1.63 | -$0.11 | -$0.50 | -$1.77 | $0.01 |
| Diluted Shares (Avg) | 4M | 3M+38.5% | N/A | 3M | 3M | 3M | N/A | 3M |
Not reported in any period shown, so not listed: Income Tax.
POLA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $10.2M-38.3% | $11.4M-31.0% | $10.4M-40.5% | $12.3M-41.0% | $16.5M-25.4% | $16.6M-30.5% | $17.5M-30.5% | $20.9M-26.3% |
| Current Assets | $10.0M-34.1% | $11.2M-25.4% | $10.0M-35.7% | $11.8M-36.6% | $15.2M-22.2% | $15.0M-28.6% | $15.6M-29.1% | $18.6M-24.7% |
| Cash & Equivalents | $183K+4.6% | $27K-60.3% | $200K-59.8% | $4K-99.2% | $175K-84.4% | $68K-67.9% | $498K-9.3% | $498K+68.2% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $9.2M-28.9% | $9.5M-27.3% | $9.4M-26.9% | $10.9M-27.5% | $13.0M-17.6% | $13.1M-19.0% | $12.9M-22.0% | $15.0M-21.5% |
| Accounts Receivable | $566K-72.1% | $1.5M-10.4% | $330K-84.7% | $856K-71.0% | $2.0M-12.1% | $1.7M+31.6% | $2.2M+28.5% | $2.9M+86.4% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $9.3M-2.3% | $9.1M-3.0% | $10.3M+13.9% | $9.4M+1.0% | $9.6M-10.1% | $9.3M-27.1% | $9.0M-25.2% | $9.4M-31.3% |
| Current Liabilities | N/A | $9.1M-0.9% | $10.3M+20.2% | $9.4M+10.9% | $9.5M+0.5% | $9.1M-19.0% | $8.6M-16.2% | $8.5M-25.6% |
| Non-Current Liabilities | N/A | $0-100.0% | $0-100.0% | $0-100.0% | $76K-93.6% | $197K-87.2% | $474K-74.5% | $840K-61.1% |
| Total Equity | $857K-87.7% | $2.4M-67.1% | $144K-98.3% | $2.9M-74.9% | $7.0M-39.5% | $7.3M-34.3% | $8.5M-35.5% | $11.6M-21.8% |
| Retained Earnings | -$41.5M-30.1% | -$39.6M-25.5% | -$39.5M-30.1% | -$36.0M-31.8% | -$31.9M-16.7% | -$31.6M-13.7% | -$30.3M-18.2% | -$27.3M-21.3% |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
POLA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $20K+105.0% | -$2.2M-275.2% | -$472K-247.1% | $399K+167.6% | -$404K-134.3% | -$584K+41.0% | -$136K+60.7% | -$590K-110.7% |
| Depreciation & Amortization | $16K-5.9% | $16K-5.9% | $16K-23.8% | $17K-32.0% | $17K-69.1% | $17K-74.2% | $21K-73.1% | $25K-69.5% |
| Stock-Based Compensation | $441K-12.0% | $514K-10.9% | N/A | $540K-7.7% | $501K-19.5% | $577K-11.4% | N/A | $585K |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | $1K | $0 |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | -$137K+60.4% | -$590K-110.7% |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | -$1K | $0 |
| Financing Cash Flow | $136K-73.4% | $2.0M+1210.4% | $668K+387.6% | -$570K-1738.7% | $511K+301.2% | $154K-76.4% | $137K-77.1% | -$31K-110.9% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
POLA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -33.1%-67.4pp | 65.7%+47.1pp | -357.7% | -177.5% | 34.3%-5.0pp | 18.6%+41.2pp | -58.8%-19.2pp | 29.0%+34.6pp |
| Operating Margin | -164.0% | 1.4%+65.3pp | -555.8% | -304.6% | -4.1%-13.9pp | -63.9% | -110.5% | 0.8%+88.4pp |
| Net Margin | -179.7% | -10.3%+63.1pp | -585.3% | -320.9% | -10.0%-20.8pp | -73.4% | -116.3% | 0.3%+96.8pp |
| Return on Equity | -213.6%-209.8pp | -7.4%+10.0pp | -2438.9%-2403.1pp | -140.9%-141.0pp | -3.9%-8.2pp | -17.4%+1.9pp | -35.8%-11.9pp | 0.1%+12.6pp |
| Return on Assets | -17.9%-16.3pp | -1.6%+6.1pp | -33.7%-16.3pp | -33.1%-33.1pp | -1.6%-3.9pp | -7.6%+1.4pp | -17.4%-4.9pp | 0.1%+6.6pp |
| Current Ratio | N/A | 1.23-0.4x | 0.97-0.8x | 1.25-0.9x | 1.61-0.5x | 1.64-0.2x | 1.82-0.3x | 2.190.0x |
| Debt-to-Equity | 10.91+9.5x | 3.79+2.5x | 71.48+70.4x | 3.26+2.4x | 1.37+0.4x | 1.29+0.1x | 1.06+1.1x | 0.81-0.1x |
| Asset Turnover | 0.10-0.1x | 0.150.0x | 0.06-0.1x | 0.10-0.1x | 0.160.0x | 0.100.0x | 0.150.0x | 0.23+0.2x |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | -5.2%+4.4pp | -12.0%+2.6pp |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin.
Note: The current ratio is below 1.0 (0.97), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Polar Power, Inc. POLA | FY2025 | $6.3M | -$9.1M | N/A | $4.9M | 36/100 |
| Linkers Industries Limited LNKS | FY2025 | $5.3M | -$1.2M | -22.0% | $1.7M | 44/100 |
| Advent Technologies Holdings, Inc. ADN | FY2024 | $3.3M | N/A | N/A | $3.0M | 30/100 |
| Expion Energy, Inc. XPON | FY2025 | $9.7M | -$6.2M | -64.6% | $4.0M | 42/100 |
| Erayak Power Solution Group Inc. RAYA | FY2025 | $22.9M | -$1.4M | -6.1% | $1.8M | 42/100 |
| Flux Power Holdings, Inc. FLUX | FY2026 | $42.1M | -$7.4M | -17.7% | $10.2M | 20/100 |
Where Polar Power, Inc. Ranks
Frequently Asked Questions
What is Polar Power, Inc.'s annual revenue?
Polar Power, Inc. (POLA) reported $6.3M in total revenue for fiscal year 2025. This represents a -54.9% 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 Power, Inc.'s revenue growing?
Polar Power, Inc. (POLA) revenue declined by 54.9% year-over-year, from $14.0M to $6.3M in fiscal year 2025.
Is Polar Power, Inc. profitable?
No, Polar Power, Inc. (POLA) reported a net income of -$9.1M in fiscal year 2025.
What is Polar Power, Inc.'s EBITDA?
Polar Power, Inc. (POLA) had EBITDA of -$8.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Polar Power, Inc.'s gross margin?
Polar Power, Inc. (POLA) had a gross margin of -50.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Polar Power, Inc.'s return on equity (ROE)?
Polar Power, Inc. (POLA) has a return on equity of -6342.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Polar Power, Inc.'s operating cash flow?
Polar Power, Inc. (POLA) recorded an outflow of $1.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Polar Power, Inc.'s total assets?
Polar Power, Inc. (POLA) had $10.4M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Polar Power, Inc. spend on research and development?
Polar Power, Inc. (POLA) invested $646K in research and development during fiscal year 2025.
What is Polar Power, Inc.'s current ratio?
Polar Power, Inc. (POLA) had a current ratio of 0.97 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Polar Power, Inc.'s debt-to-equity ratio?
Polar Power, Inc. (POLA) had a debt-to-equity ratio of 71.48 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Polar Power, Inc.'s return on assets (ROA)?
Polar Power, Inc. (POLA) had a return on assets of -87.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Polar Power, Inc.'s P/E ratio?
Polar Power, Inc. (POLA) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $4.9M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Polar Power, Inc.'s price-to-sales ratio?
Polar Power, Inc. (POLA) trades at 1.1x sales, its market capitalization divided by revenue of $4.6M revenue, trailing 12 months to June 30, 2026. The market capitalization is $4.9M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Polar Power, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Polar Power, Inc. (POLA) held $200K in cash, cash equivalents and investments, and reported an operating cash outflow of $1.1M over that year. Dividing the one by the other, the reported balance equals about 2 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Polar Power, Inc.'s Altman Z-Score?
Polar Power, Inc. (POLA) has an Altman Z-Score of -7.10, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Polar Power, Inc.'s Piotroski F-Score?
Polar Power, Inc. (POLA) has a Piotroski F-Score of 1 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Polar Power, Inc.'s earnings high quality?
Polar Power, Inc. (POLA) reported a net loss of $9.1M while operations used $1.1M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Power, Inc. cover its interest payments?
Polar Power, Inc. (POLA) reported an operating loss of $8.4M against $720K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 Power, Inc.?
Polar Power, Inc. (POLA) scores 36 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.