Polar Power Announces Preliminary Q2 2024 Corporate And Financial Update; Anticipates Sales In Range Of $4.5M-$5M, Backlog Of ~$5.5M As Of June 30, 2024

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, and a backlog of approximately $5.5 million for the quarter end. Additionally, the Company has received approximately $2.9 million in Tax refunds and Employee Retention Credits ("ERC") payments applied for in prior years.