Polar Power, Inc. designs, manufactures, and sells direct current (DC), power generators, renewable energy, and cooling systems in the United States and internationally. It offers DC base power systems, DC hybrid power systems, and DC solar hybrid power systems. The company serves customers in the telecommunications, military, commercial, industrial, and marine markets. It sells its products through direct sales force, and a network of independent service providers and dealers. The company was formerly known as Polar Products, Inc. and changed its name to Polar Power, Inc. in October 1991. Polar Power, Inc. was incorporated in 1979 and is based in Gardena, California.
IPO Year: 2016
Exchange: NASDAQ
Website: polarpower.com
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 equipment spanning engineering and technology development, lean manufacturing, factory and systems integration, product management and channel development. He has held key operating and manageria
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 improved to 39.3% compared to 26.4%, due in part to higher international salesOperating expenses were $1.4 million, slightly lower compared to $1.6 million in the firs
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 equipment spanning engineering and technology development, lean manufacturing, factory and systems integration, product management and channel development. He has held key operating and manageria
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") paym
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 $1.1 million, or $(0.09) per basic and diluted share in the same period in 2023●Working capital of $9.6 million as of March 31, 2024, with $16.2 million in inve
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 in 2022Net loss was $6.5 million in 2023, or $(0.49) per basic and diluted share, compared to a net loss of $5.6 million, or $(0.43) per basic and diluted share in 2022Working c
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, Polar Power has announced $5.4 million in new bookings for the first quarter of 2024, which compares to $3.7 million in new bookings for the first quarter in 2023, an increase
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 representative. Arthur Sams, CEO, Luis Zavala, CFO, and Balwinder Samra, Corporate VP, will be available for the entire day for meetings on March 19 to update with investors and discuss th
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. Arthur Sams, CEO of Polar Power commented, "Our telecom market business is being driven by four factors: increased power demand for network upgrades, diminishing power availab
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 for one of its offices in Africa. The pilot project is designed to demonstrate the reliability, durability, and low operating costs of Polar Power's nano grid technology to provide uninterrupted, quality electric power in bad-grid locations throughout th
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 at a public offering price of $0.40 per share, which include 600,000 shares sold upon full exercise of the underwriter's option to purchase additional shares, f
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10-Q - Polar Power, Inc. (0001622345) (Filer)
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8-K - Polar Power, Inc. (0001622345) (Filer)
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Anticipated sales in range of $4.5-$5.0 million, backlog of approximately $5.5 million as of June 30, 2024Balance Sheet will reflect approximately $3 million received in tax refunds and ERC fundingGARDENA, 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 appli
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