secwatch.observer — SEC 8-K summary
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Issuer:     Polar Power, Inc. (POLA)
CIK:        0001622345
Form:       8-K
Filed at:   2022-11-14T23:59:59+00:00
Accession:  0001493152-22-032069
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Polar Power Q3 net sales down 59% to $1.7M; net loss $2.3M vs income of $942K last year
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- Net sales $1.7M in Q3 2022, down 59% from $4.1M in Q3 2021 due to supply chain constraints.
- Net loss of $2.3M ($0.19 per share) vs net income of $942K ($0.07) in Q3 2021.
- Gross loss of $247K vs gross profit of $966K in prior year; operating expenses rose to $2.1M.
- Cash and equivalents $363K at Sep 30, 2022, down from $5.1M at Dec 31, 2021; working capital $18.4M.
- Sales backlog $13.6M; $3.3M in new purchase orders received post-quarter.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1622345/000149315222032069/0001493152-22-032069-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1622345/000149315222032069/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-032069

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