Polar Power reports FY 2024 net loss of $4.6M; sales down 6.7% but gross margin improved to 9.4%

Polar Power, Inc.

2025-Q1 EPS reported -$0.50 revenue$1,723,000

Sales $14M, down 6.7% YoY; net loss $4.6M ($1.86/share) vs $6.5M ($3.45/share) in 2023.
Gross profit up 89% to $1.3M (9.4% sales) from $695K (4.5% sales); operating expenses down $1M.
Cash used in ops improved to $536K from $3.4M; inventories reduced $3.5M.
Military/government revenues doubled to ~$1.5M; new UNHCR reference account in Nigeria.
Plan to launch mobile EV charger product line in 2025.

item 2.02 item 7.01 item 9.01

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accession 0001641172-25-002014

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