Polar Power Q3 net sales $4.9M (+157% YoY), net income $13k vs loss; shareholders approve reverse split

Polar Power, Inc.

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

Net sales of $4.9M, up 157% YoY, third consecutive quarter of sequential improvement.
Gross profit $1.4M (29% of sales) vs gross loss $108k in Q3 2023.
Net income $13k ($0.00 EPS) vs net loss $1.844M ($0.14 loss per share) YoY.
Working capital $10.1M; backlog $3.1M at Sept 30, 2024.
Shareholders approved reverse stock split at ratio 1:3 to 1:20 to regain Nasdaq compliance.

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