reports
Polar Power Reports First Quarter 2025 Financial Results
Polar Power Reports First Quarter 2025 Financial Results GARDENA, CA, May 16, 2025 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” or the “Company”) (NASDAQ: POLA), a global provider of prime, backup, and solar hybrid DC power solutions, reports its financial results for the three months ended March 31, 2025. Q1 2025 Financial Highlights ●Net sales were $1.7 million, compared to $1.7 million in the same period last year●Gross profit increased to $320,000, or 18.6% of sales, representing an improvement of 180% from a gross loss of $402,000, or (22.6)% of sales, in the same period las...
Polar Power Reports Full Year and Fourth Quarter 2024 Financial Result...
Polar Power Reports Full Year and Fourth Quarter 2024 Financial Results GARDENA, CA, April 01, 2025 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” or the “Company”) (NASDAQ: POLA), a global provider of prime, backup, and solar hybrid DC power solutions, reports its financial results for the three months and full year ended December 31, 2024. 2024 Financial Highlights Sales of $14 million represent a 6.7% decline from 2023Gross profit increased 89% to $1.3 million, or 9.4% of sales, compared with $695,000, or 4.5% of sales, in 2023Operating expenses declined $1 million to $5.7 mill...
Polar Power Announces Receipt of Letter from Nasdaq Acknowledging List...
Polar Power Announces Receipt of Letter from Nasdaq Acknowledging Listing Compliance GARDENA, CA, Dec. 30, 2024 (GLOBE NEWSWIRE) -- Polar Power, Inc. (NASDAQ: POLA) (“Polar Power”), a global provider of prime, backup, solar hybrid power, and microgrid solutions, is pleased to announce that it has successfully regained compliance with the minimum bid price requirement set forth by The Nasdaq Stock Market LLC (“Nasdaq”). The Company has received notification from Nasdaq confirming its compliance with Listing Rule 5550(a)(2), thereby meeting Nasdaq’s maintenance requirements for listing. As...
Polar Power Announces Reverse Stock Split
Polar Power Announces Reverse Stock Split GARDENA, CA, Nov. 15, 2024 (GLOBE NEWSWIRE) -- Polar Power, Inc. (NASDAQ: POLA) (“Polar Power”), a global provider of prime, backup, solar hybrid power, and microgrid solutions, today announced that it intends to effect a reverse stock split of its common stock at a ratio of 1 post-split share for every 7 pre-split shares. The Company's common stock will continue to be traded on the Nasdaq Capital Market under the symbol “POLA” and will begin trading on a split-adjusted basis when the market opens on November 19, 2024. The reverse stock split is p...
Polar Power Reports Third Quarter 2024 Financial Results
Polar Power Reports Third Quarter 2024 Financial Results GARDENA, CA, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” or the “Company”) (NASDAQ: POLA), a global provider of prime, backup, and solar hybrid DC power solutions, reports its financial results for the third quarter of 2024. Q3 2024 Financial Highlights Net sales were $4.9 million, representing the third consecutive quarter of sequential sales improvement and a year-over-year quarterly improvement of 157%Gross profit of $1.4 million, or 29% of sales, represents a positive swing of approximately $1.5 mil...
Polar Power Announces Preliminary 2024 Third Quarter Financial Results...
Polar Power Announces Preliminary 2024 Third Quarter Financial Results: Expected Net Sales of $4.7 - $5.2 Million and Gross Margin of 26%-32% GARDENA, CA, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” or the “Company”) (NASDAQ: POLA), a global provider of prime, backup, and solar hybrid power solutions, today announces preliminary third quarter net sales between $4.7 million and $5.2 million, representing growth of 147% to 174%, gross margin in the range of 26% to 32%, and breakeven net earnings. Recovering net sales benefitting from strength across both diesel- and ...
Polar Power Completes Installation of UNHCR Nigeria Contract
Polar Power Completes Installation of UNHCR Nigeria Contract Microgrid Installation Anticipated to Reduce Fuel Costs by up to 70% with Excellent Follow-on Opportunity at other UN sites GARDENA, CA, Oct. 09, 2024 (GLOBE NEWSWIRE) -- Polar Power, Inc. (NASDAQ: POLA)(“Polar Power”), a global provider of prime, backup, solar hybrid power, and microgrid solutions announces that its DC generator, solar PV inverters, batteries, and controls were seamlessly integrated and installed at a United Nations High Command for Refugees (“UNHCR”) facility in Nigeria. Assisting Polar Power on this project ...
Polar Power Reports Second Quarter 2024 Financial Results
Polar Power Reports Second Quarter 2024 Financial Results Swing to Quarterly Profit Led by Higher Net Sales GARDENA, CA, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” or the “Company”) (NASDAQ: POLA), a global provider of prime, backup, and solar hybrid DC power solutions, reports its financial results for the second quarter of 2024. Q2 2024 Financial Highlights Net sales were $4.6 million, a sequential improvement of 163% compared to $1.8 million in the first quarter of 2024, and compared to $5.6 million in the same period in 2023The company’s gross margin impro...
Polar Power Appoints Michael Field as Independent Director and Compens...
Polar Power Appoints Michael Field as Independent Director and Compensation Committee Chair New Board Member Provides Four Decades of Industrial Global Manufacturing and Team Building Leadership GARDENA, CA, July 30, 2024 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” or the “Company”) (NASDAQ: POLA), a global provider of prime, backup, and solar hybrid power solutions, today announces that Michael Field has been appointed a director of the Company and compensation committee chair. Mr. Field joins the Polar Board with four decades of experience in global manufacturing and...
Polar Power Announces Preliminary Second Quarter 2024 Corporate and Fi...
Polar Power Announces Preliminary Second Quarter 2024 Corporate and Financial Update Anticipated sales in range of $4.5-$5.0 million, backlog of approximately $5.5 million as of June 30, 2024 Balance Sheet will reflect approximately $3 million received in tax refunds and ERC funding GARDENA, CA, July 11, 2024 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” or the “Company”) (NASDAQ: POLA), a global provider of prime, backup, and solar hybrid power solutions, today announces that it expects to report revenues between $4.5 million and $5.0 million for the second quarter of 2024, ...
Polar Power Reports First Quarter 2024 Financial Results
Polar Power Reports First Quarter 2024 Financial Results GARDENA, CA, May 15, 2024 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” or the “Company”) (NASDAQ: POLA), a global provider of prime, backup, and solar hybrid DC power solutions, reports its financial results for the first quarter of 2024. Q1 2024 Financial Highlights ●Net sales of $1.8 million compared to $4.2 million in the same period in 2023●Operating expenses of $1.6 million compared to $1.7 million in the same period in 2023●Net loss was $2.1 million, or $(0.12) per basic and diluted share, compared to a net loss of...
Polar Power Reports Full Year and Fourth Quarter 2023 Financial Result...
Polar Power Reports Full Year and Fourth Quarter 2023 Financial Results GARDENA, CA, April 01, 2024 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” or the “Company”) (NASDAQ: POLA), a global provider of prime, backup, and solar hybrid DC power solutions, reports its financial results for the three months and full year ended December 31, 2023. 2023 Financial Highlights Net sales in 2023 were $15.3 million compared to $16.1 million in 2022Gross profit for 2023 was $0.7 million compared to $2.1 million in 2022Operating expenses for 2023 were $6.7 million compared to $7.7 million i...
Polar Power Announces $5.1 Million in New Bookings to Date in Q1 2024
Polar Power Announces $5.1 Million in New Bookings to Date in Q1 2024 Additional $2.5 Million in New Bookings includes International Military and Telecom Customers Choosing Polar Power’s Unique Power Technology Platforms GARDENA, CA, March 12, 2024 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” or the “Company”) (NASDAQ: POLA), a global provider of prime, backup, and solar hybrid power solutions, announces approximately $2.5 million in additional new bookings from both military and telecom customers. Combined with the $2.9 million in previously announced new bookings in January, P...
Polar Power to Participate in 36th Annual Roth Conference March 17-19,...
Polar Power to Participate in 36th Annual Roth Conference March 17-19, 2024 GARDENA, CA, March 07, 2024 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” or the “Company”) (NASDAQ: POLA), a global provider of prime, backup, and solar hybrid power solutions, announces it will participate in the 36th Annual Roth Conference, being held at the Ritz Carlton Hotel in Dana Point, California, March 17-19, 2024. Investors attending the conference are encouraged to request a one-on-one meeting with management through the conference’s on-line website or by directly contacting a Roth represen...
Polar Power Announces $2.9 Million in New Bookings During January 2024
Polar Power Announces $2.9 Million in New Bookings During January 2024 Reliable and Unique Technology Platform Compels Selection of Polar Power to Provide DC Backup Power Generation Systems GARDENA, CA, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” or the “Company”) (NASDAQ: POLA), a global provider of prime, backup, and solar hybrid power solutions, announces approximately $2.9 million in net new bookings from international and domestic Tier-1 customers for the month of January 2024. This compares to $3.7 million in new bookings for the full first quarter in 2023. ...
United Nations High Commissioner for Refugees Awards Polar Power Initi...
United Nations High Commissioner for Refugees Awards Polar Power Initial Contract to Assure Uninterrupted Quality Electric Power for African Offices Pilot program designed to showcase the provision of reliable, easily maintained, and cost-effective electric power in bad or no grid locations GARDENA, CA, Dec. 20, 2023 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” or the “Company”) (NASDAQ: POLA), a global provider of prime, backup, and solar hybrid power solutions, announces a contract award from the United Nations High Commissioner for Refugees (“UNHCR”) to provide a nano grid f...
Polar Power, Inc. Announces Closing of Public Offering
Polar Power, Inc. Announces Closing of Public Offering Gardena, CA, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Polar Power, Inc. (Nasdaq: POLA) (“Polar Power” or the “Company”), a technology company that designs, manufactures and sells direct current, or DC, power systems, lithium battery powered hybrid solar systems for applications in the telecommunications market and, in other markets, including military, EV charging, cogeneration, distributed power and uninterruptable power supply, today announced the closing of its previously announced public offering of 4,600,000 shares of its common stock a...
Polar Power, Inc. Announces Pricing of Public Offering
Polar Power, Inc. Announces Pricing of Public Offering Gardena, CA, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Polar Power, Inc. (NASDAQ: POLA), (“Polar Power” or the “Company”) today announced the pricing of its previously announced underwritten public offering of 4,000,000 shares of its common stock. Each share of common stock is being sold at a public offering price of $0.40 per share, for gross proceeds of $1,600,000 before deducting underwriting discounts, commissions and offering expenses. All of the shares of common stock are being offered by the Company. In addition, the Company has grant...
Polar Power, Inc. Announces Proposed Public Offering of Common Stock
Polar Power, Inc. Announces Proposed Public Offering of Common Stock Gardena, CA, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Polar Power, Inc. (NASDAQ: POLA) (“Polar Power” or the “Company”) today announced that it intends to offer to sell shares of its common stock (and/or pre-funded warrants (“Pre-funded Warrants”) in lieu thereof) in an underwritten public offering. All of the shares of common stock (and/or Pre-funded Warrants) are to be sold by the Company. ThinkEquity is acting as sole underwriter for the offering. The Company expects to grant the underwriter a 45-day option to purchase up ...
POLAR POWER AWARDED FIRST PLACE FOR PRESENTATION AT THE GLOBAL TECHNOL...
POLAR POWER AWARDED FIRST PLACE FOR PRESENTATION AT THE GLOBAL TECHNOLOGY CONFERENCE DURING LPG WEEK 2023 IN ROME, ITALY “NEW OPPORTUNITIES FOR LPG SOLAR HYBRID SYSTEMS IN TELECOM AND OTHER MARKETS (REPLACING DIESEL AND COAL)” NOW AVAILABLE TO THE PUBLIC AT POLARPOWER.COM GARDENA, CA, Nov. 28, 2023 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” of the “Company”) (NASDAQ: POLA), a global provider of prime, backup, and solar hybrid power solutions, announces CEO, Arthur Sams’ presentation at LPG Week 2023 in Rome Italy took first place in the Global Technology Conference, as voted ...
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