Polar Power prelim Q3 revenue $4.7-$5.2M (+147-174% YoY); gross margin 26-32%; near breakeven

Polar Power, Inc.

2024-Q3 EPS reported -$0.09 revenue$11,348,000

Preliminary Q3 net sales $4.7M-$5.2M, growth of 147%-174% YoY; gross margin improved to 26%-32%.
Net earnings expected approximately breakeven, driven by higher sales, improved margins, lower R&D and G&A.
New customers contributed 18% of diesel product sales and 12% of natural gas product sales in Q3.
Improvements attributed to ERP investments, inventory optimization, and faster reaction time to telecom sector needs.
Full Q3 10-Q filing and final results expected on or before November 14, 2024.

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