Polar Power Q2 sales $5.5M (+31% YoY), net loss narrows to $0.03 per share

Polar Power, Inc.

2023-Q2 EPS reported $0.12 revenue$9,777,000

Q2 net sales $5.5M, up 31% from $4.2M; gross profit $1.4M (+39%), margin 26.4% vs 24.8% YoY.
Net loss of $436k ($0.03/share) vs $739k ($0.06) in Q2 2022; six-month loss $1.5M ($0.12) vs $1.8M ($0.15).
Backlog $5.9M at June 30, 68% U.S. telecom; international telecom sales surged ~2100% YoY.
Cash $292k; inventory $17.7M, working capital $15.4M; launched Toyota 1KS engine platform.
Mobile EV chargers with CCS standard expected by Q1 2024; order taking underway.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Polar Power, Inc. reported the three and six months ended June 30, 2023 results: revenue $5.5 million, net income Net loss for Q2 2023 totaled $436,000, or $(0.03) per basic and diluted share, EPS $(0.03) per basic and diluted share.

Period: the three and six months ended June 30, 2023
Revenue: $5.5 million
Net income: Net loss for Q2 2023 totaled $436,000, or $(0.03) per basic and diluted share
EPS: $(0.03) per basic and diluted share
Result: reported results

Exact text from the filing

three and six months ended June 30, 2023. Key Q2 2023 Results and Highlights: Financial Results for the Three and Six Months Ended June 30, 2023 ● Net sales for Q2 2023 were $5.5 million, a 31% increase compared to $4.2 million in the same period last year. Net sales for the six months ended June 30, 2023 were $9.7 million, a 22% increase, as compared to $7.9

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Source: SEC EDGAR

accession 0001493152-23-028511

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