secwatch.observer — SEC 8-K summary
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Issuer:     Polar Power, Inc. (POLA)
CIK:        0001622345
Form:       8-K
Filed at:   2021-11-15T23:59:59+00:00
Accession:  0001493152-21-028615
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Polar Power Q3 net sales up 65% to $4.1M; net income $0.9M vs loss
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- Net sales Q3 2021 $4.1M, up 65% YoY; nine-month $12.2M, up 89% YoY.
- Backlog $11.4M at end Q3, up 72% from Q2; $7.5M for 5G DC power systems.
- Net income Q3 $0.9M ($0.07 EPS) vs net loss $4.7M ($0.42 loss) in Q3 2020.
- Gross profit $0.9M vs gross loss $2.6M last year; operating expenses down to $1.7M.
- PPP loan forgiveness of $1.7M recognized as non-cash gain; cash $7.7M vs $1.6M year-end 2020.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1622345/000149315221028615/0001493152-21-028615-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1622345/000149315221028615/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-21-028615

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer