Polar Power, Inc. Common Stock
POLAPolar Power, Inc. (POLA) specializes in designing, manufacturing, and marketing integrated power systems that combine quiet, efficient, and reliable diesel, natural gas, and battery power solutions. The company primarily serves off-grid, remote, and military markets, providing backup, renewable, and standby power systems. Its products are used in applications such as data centers, telecommunications, and military operations.
Company News
Polar Power secured an initial order for 50 next-generation mobile EV chargers designed to provide emergency fast-charging for electric vehicles that run out of battery, offering a quick 15-30 minute charge to help stranded drivers reach the nearest charging station.
Polar Power received an initial purchase order for 50 next-generation mobile EV fast chargers that can provide emergency roadside charging for electric vehicles using propane, natural gas, or diesel-powered generators.
Polar Power experienced a significant decline in Q2 2025, with revenue dropping 42% year-over-year, primarily due to weakened telecom and international sales. The company reported a net loss and continues to focus on product diversification and new technology launches.
Polar Power expects to report revenues between $4.5 million and $5.0 million for Q2 2024, with a backlog of approximately $5.5 million. The company has also received $2.9 million in tax refunds and Employee Retention Credits, strengthening its balance sheet.
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.
