Polar Power, Inc.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $6.3M | $14.0M | $15.3M | $16.1M | $16.9M | $9.0M | $24.8M |
| Cost of Revenue | — | $9.5M | $12.7M | $14.6M | $13.9M | $13.5M | $14.7M | $19.9M |
| Gross Profit | — | $-3.2M | $1.3M | $695.0K | $2.1M | $3.4M | $-5.6M | $4.9M |
| Gross Margin | — | -50.1% | 9.4% | 4.5% | 13.2% | 20.4% | -62.3% | 19.8% |
| Operating Expenses | ||||||||
| Research & Development | — | $646.0K | $771.0K | $1.2M | $1.5M | $2.0M | $1.7M | $2.3M |
| SG&A Expense | — | $3.4M | $3.9M | $4.3M | $4.7M | $3.1M | $4.1M | $4.0M |
| Operating Income | — | $-8.4M | $-4.4M | $-6.0M | $-5.5M | $-3.1M | $-13.0M | $-4.0M |
| Operating Margin | — | -133.6% | -31.3% | -39.2% | -34.5% | -18.3% | -143.5% | -16.1% |
| Interest Expense | — | — | — | $559.0K | $58.0K | $60.0K | $60.0K | $103.0K |
| Pretax Income | — | — | — | — | — | $-1.4M | $-13.0M | $-4.0M |
| Income Tax Expense | — | — | — | — | — | — | $-2.1M | — |
| Net Income | — | $-9.1M | $-4.7M | $-6.5M | $-5.6M | $-1.4M | $-10.9M | $-4.0M |
| Net Margin | — | -144.9% | -33.5% | -42.8% | -34.8% | -8.4% | -120.4% | -16.3% |
| EPS (Basic) | — | $-3.59 | $-1.86 | $-3.45 | $-0.43 | $-0.11 | $-1.01 | $-0.40 |
| EPS (Diluted) | — | $-3.59 | $-1.86 | $-3.45 | $-0.43 | $-0.11 | $-1.01 | $-0.40 |
| Shares Outstanding (Basic) | 3.6M | 2.5M | 2.5M | 1.9M | 12.9M | 12.7M | 11.8M | 10.1M |
| Shares Outstanding (Diluted) | 3.6M | 2.5M | 2.5M | 1.9M | 12.9M | 12.7M | 11.8M | 10.1M |
| Dividends Per Share | — | — | — | — | — | — | — | — |