Here are the 10-K annual reports from Polar Power, Inc. (POLA) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow POLA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full POLA filings page.
Polar Power, Inc. reports significant operating losses and liquidity pressures in its annual report, alongside a detailed description of its DC power generation business focused on telecommunications, military, EV charging and mini-grid markets. For 2025, the company recorded a net loss of $9,133 (thousands) and used $1,061 (thousands) of cash in operating activities, leading auditors to raise substantial doubt about its ability to continue as a going concern. Management outlines multiple mitigation steps, including cost reductions, sales diversification and expanded aftermarket parts revenue, but notes that failure to secure sufficient funding may force cuts to operations. Polar highlights heavy dependence on telecommunications customers, especially U.S. Tier‑1 carriers, with 88% of 2025 net sales from this sector, and a sales backlog of $4,306 (thousands) as of December 31, 2025, mostly tied to 5G-related DC power systems. To address liquidity needs, the company entered into an at‑the‑market equity program, selling 166,127 shares in 2025 and 962,500 shares through April 15, 2026 for combined net proceeds of $3,182 (thousands), and also entered into a small high‑cost loan with World Wide Capital Management. Polar is negotiating with landlords over delinquent rents after one initiated, then paused, eviction proceedings, and is operating under a forbearance agreement on its $7,500 (thousands) revolving credit facility after falling out of its minimum tangible net worth covenant.