Highest-materiality recent filing
Polar Power issues $275K convertible note to Mayers Ventures with 10% OID and board seat
Issued $275,000 convertible promissory note to Mayers Ventures LLC; consideration $250,000 (10% OID).
Polar Power gets Nasdaq extension to Oct 28, 2026 to regain stockholders' equity compliance
Stockholders' equity was only $144,000 as of Dec 31, 2025, triggering Nasdaq Rule 5550(b) deficiency.
Polar Power Q1 net loss narrows 86% to $178K; gross margin expands to 65.7%
Q1 net loss of $178K vs $1.265M year ago; loss per share $(0.05) vs $(0.50).
Issued two 6% convertible notes totaling $970.6K principal; net proceeds $807.1K; conversion at 80% of 10-day VWAP.
Revolving credit facility up to $2.5M, 12% interest, one-year maturity; lender has sole discretion on draws.
Polar Power faces Nasdaq delisting due to stockholders' equity of only $144K vs $2.5M minimum
Received Nasdaq letter on May 1, 2026 for non-compliance with Listing Rule 5550(b)(1) due to low equity.
Shareholders approve 2026 equity plan; say-on-pay frequency set to annual
2026 Equity Incentive Plan approved with 862,506 for, 40,576 against, 508 abstain.
Polar Power Q3 net loss $4.1M on 74% sales decline; inventory write-down $1.97M
Net sales $1.3M, down 74% from $4.9M YoY; gross loss of $2.26M vs. prior gross profit of $1.4M.
Polar Power enters ATM equity offering up to $2,382,043 with ThinkEquity
ATM sales agreement with ThinkEquity LLC allows at-the-market sales of common stock up to $2,382,043.
Polar Power Q2 net loss $271K; revenue down 42% YoY to $2.7M
Net loss of $271K ($0.11 per share) vs net income of $501K ($0.20 EPS) in Q2 2024.
Polar Power Q1 net loss narrows 41% to $1.2M; gross margin turns positive
Net sales $1.7M flat YoY; net loss $1.2M ($0.50 EPS) vs $2.1M ($0.85) a year ago.
Polar Power reports FY 2024 net loss of $4.6M; sales down 6.7% but gross margin improved to 9.4%
Sales $14M, down 6.7% YoY; net loss $4.6M ($1.86/share) vs $6.5M ($3.45/share) in 2023.
Polar Power regains Nasdaq compliance; delisting hearing cancelled
Received Nasdaq letter on Dec 23, 2024 confirming compliance with minimum bid price rule.
Nasdaq notified Polar Power on Nov 19, 2024, of delisting due to failure to meet $1 minimum bid price by deadline.
Net sales of $4.9M, up 157% YoY, third consecutive quarter of sequential improvement.
Polar Power prelim Q3 revenue $4.7-$5.2M (+147-174% YoY); gross margin 26-32%; near breakeven
Preliminary Q3 net sales $4.7M-$5.2M, growth of 147%-174% YoY; gross margin improved to 26%-32%.
Polar Power swings to Q2 profit with $501K net income; sales up 163% sequentially
Net sales $4.6M, up 163% sequentially from Q1; gross margin improved to 39.3% from 26.4%.
Polar Power appoints Michael Field as independent director and compensation committee chair
Michael Field appointed to board effective July 25, 2024; fills vacancy from Peter Gross's resignation.
Polar Power prelim Q2 revenue $4.5-$5.0M; backlog $5.5M; receives $2.9M in tax refunds
Expects Q2 2024 revenue of $4.5-$5.0M and backlog of ~$5.5M as of June 30, 2024.
Polar Power gets 180-day Nasdaq extension to Nov 18, 2024 for $1 bid price rule
Received Nasdaq notification on May 30, 2024 granting 180 extra days to meet $1.00 minimum bid price.
Polar Power Q1 net sales drop 57% to $1.8M; net loss widens to $2.1M
Net sales of $1.8M vs $4.2M in Q1 2023; net loss of $2.1M ($0.12 per share) vs $1.1M ($0.09) a year ago.
Polar Power FY2023 net loss widens to $6.5M; Q4 revenue up 90% sequential, Q1 2024 bookings $5.1M
FY2023 net sales $15.3M (down 5% YoY); net loss $6.5M (($0.49)/share) vs. $5.6M loss in FY2022.
Polar Power receives Nasdaq notice for non-compliance with independent director rule
Nasdaq notified Polar Power on Jan 5, 2024 of non-compliance with Listing Rule 5605 due to director Peter Gross's resignation.
Director Peter Gross resigns; annual meeting elects three directors
Peter Gross resigned as director on Dec 18, 2023, for personal reasons; no disagreements with company.
Polar Power closes public offering of 4.6M shares at $0.40, raising $1.84M gross
Offering of 4,000,000 shares upsized to 4,600,000 shares after underwriter exercised over-allotment in full.
Polar Power receives Nasdaq deficiency notice for bid price below $1.00
Common stock bid price closed below $1.00 for 30 consecutive business days, triggering the Bid Price Rule.
Polar Power Q3 revenue $1.9M (+12% YoY), net loss narrows to $1.8M
Q3 net sales $1.9M (+12% YoY); net loss $1.8M ($0.14/sh) vs $2.3M loss ($0.19/sh) in Q3 2022.
Empery Entities hold all 24,122 warrants; exchange at 0.5 shares per warrant, issuing 12,062 shares.
Polar Power expands revolving credit facility to $7.5M via Fifth Modification with Pinnacle Bank
Total advance limit increased from $6.0M to $7.5M under the revolving credit facility.
Polar Power Q2 sales $5.5M (+31% YoY), net loss narrows to $0.03 per share
Q2 net sales $5.5M, up 31% from $4.2M; gross profit $1.4M (+39%), margin 26.4% vs 24.8% YoY.
Polar Power increases revolving credit facility to $6M and obtains $146K term loan
Third Modification adds $146,000 term loan from Pinnacle Bank dated April 13, 2023.
Polar Power Q1 revenue up 13% to $4.1M, net loss flat at $1.1M; Toyota generator launched
Net sales $4.1M (+13% YoY); net loss $1.1M ($0.09/share), identical to prior-year loss.
Polar Power board adopts triennial say-on-pay frequency after shareholder vote
Annual meeting shareholders indicated preference for say-on-pay vote every three years on non-binding basis.
Polar Power shareholders elect four directors, ratify auditor, approve say-on-pay
Elected Arthur D. Sams, Keith Albrecht, Peter Gross, Katherine Koster as directors; each received over 6.4M votes for.
Polar Power Q3 net sales down 59% to $1.7M; net loss $2.3M vs income of $942K last year
Net sales $1.7M in Q3 2022, down 59% from $4.1M in Q3 2021 due to supply chain constraints.
Polar Power Q2 net sales $4.2M, down 12% YoY; net loss narrows to $739K
Net sales $4.2M vs $4.8M in Q2 2021, a 12% decline; 6-month sales $7.9M down 2%.
Polar Power Q1 sales +13% to $3.7M; net loss narrows to $1.1M; backlog rises to $13M
Net sales $3.7M (+13% YoY); gross profit $905K vs. gross loss $58K; net loss $1.1M ($0.10/shr) vs. $1.9M ($0.15).
Polar Power COO Rajesh Masina resigns; EVP Balwinder Samra assumes duties
Rajesh Masina resigned as COO effective January 21, 2022, not due to any disagreement with the company.
Polar Power shareholders elect four directors and ratify auditor at 2021 annual meeting
All four director nominees elected: Arthur D. Sams (6,237,888 for), Keith Albrecht (6,235,733), Peter Gross (6,234,632), Katherine Koster (6,235,682).
Polar Power Q3 net sales up 65% to $4.1M; net income $0.9M vs loss
Net sales Q3 2021 $4.1M, up 65% YoY; nine-month $12.2M, up 89% YoY.
Keith Albrecht and Katherine Koster, two of the Company’s independent directors, resigned as members of the Board of the Company, effective May 19, 2026.
On May 14, 2026, Keith Albrecht and Katherine Koster, two of the Company’s independent directors, resigned as members of the Board of the Company, effective May 19, 2026.
On May 14, 2026, Keith Albrecht and Katherine Koster, two of the Company’s independent directors, resigned as members of the Board of the Company, effective May 19, 2026.
As previously disclosed, Peter Gross, a member of the Board of Directors (the “Board”) of Polar Power, Inc. (the “Company”), resigned as a member of the Board of Directors of the Company.
The remaining members of the Board appointed and ratified Mr. Michael G. Field, to serve as a member of the Board, effective as of July 25, 2024, and to assume the position of Mr. Gross as a member of the audit committee, chair of the compensation committee and chair of the nominating and corporate governance committee of the Board.
notified the Company of his intention to resign from the Company’s Board of Directors for personal reasons, effective immediately.
On January 10, 2022, Rajesh Masina notified Polar Power, Inc. (the “Company”) of his resignation from the position of the Chief Operating Officer of the Company, effective January 21, 2022.
Max materiality 0.90 · Median 0.60 · Most common event earnings