Polar Power Inc. reported net sales of $1.3 million for the three months ended September 30, 2025, a 74% decrease compared to the same period last year. The company recorded a net loss of $4.1 million, compared to a net income of $0.01 million in the prior year's quarter. Gross profit was negative $2.3 million, impacted by a $2.0 million inventory write-down related to Toyota engines purchased during the covid period. Operating expenses declined by $0.2 million due to reduced marketing and administrative costs, offset by a $0.5 million impairment of right-to-use assets. Polar Power noted ongoing geopolitical and tariff challenges and announced efforts to diversify its customer base and invest in new markets, including microgrids and electric vehicle charging. The company plans to renegotiate its long-term contract with its largest customer, which expires at the end of 2025.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Polar Power Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001493152-25-024433), on November 20, 2025, and is solely responsible for the information contained therein.
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