---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-012371"
form_type: "8-K"
ticker: "POLA"
cik: "0001622345"
company_name: "Polar Power, Inc."
filed_at: "2024-04-01T23:59:59+00:00"
generated_at: "2026-06-04T04:41:42.478621+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Polar Power FY2023 net loss widens to $6.5M; Q4 revenue up 90% sequential, Q1 2024 bookings $5.1M

## Summary
- FY2023 net sales $15.3M (down 5% YoY); net loss $6.5M (($0.49)/share) vs. $5.6M loss in FY2022.
- Gross profit fell to $0.7M from $2.1M in FY2022; operating expenses reduced to $6.7M from $7.7M.
- Q4 2023 revenue $3.6M, ~90% sequential growth from Q3; backlog $3.9M at Dec 31, 2023.
- Announced $5.1M in new bookings in Q1 2024; current backlog $7.7M as of April 1, 2024.
- Customer base diversification: top two customers decreased from 89% to 68% of sales; international sales >20% for second year.

## SEC filing metadata
- accession: 0001493152-24-012371
- form_type: 8-K
- ticker: POLA
- cik: 0001622345
- company_name: Polar Power, Inc.
- filed_at: 2024-04-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1622345/000149315224012371/0001493152-24-012371-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1622345/000149315224012371/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-012371
- JSON: https://secwatch.observer/filing/0001493152-24-012371.json
- Plain text: https://secwatch.observer/filing/0001493152-24-012371.txt

## Key facts
- Earnings Releases
  Polar Power, Inc. reported three months and full year ended December 31, 2023 results: revenue $15.3 million, net income Net loss was $6.5 million, EPS $(0.49) per basic and diluted share.
  - Period: three months and full year ended December 31, 2023
  - Revenue: $15.3 million
  - Net income: Net loss was $6.5 million
  - EPS: $(0.49) per basic and diluted share
  - Result: reported results
  source text: solar hybrid DC power solutions, reports its financial results for the three months and full year ended December 31, 2023. 2023 Financial Highlights ● Net sales in 2023 were $15.3 million compared to $16.1 million in 2022 ● Gross profit for 2023 was $0.7 million compared to $2.1 million in 2022 ● Operating expenses for 2023 were $6.7 million compared to $7.7
  evidence_url: https://www.sec.gov/Archives/edgar/data/1622345/000149315224012371/0001493152-24-012371-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.