Polaris Inc.PIIEarnings & Financial Report
Polaris Inc. is an American automotive manufacturer headquartered in Medina, Minnesota, United States. Polaris was founded in Roseau, Minnesota, where it still has engineering and manufacturing facilities. The company manufactured motorcycles through its Victory Motorcycles subsidiary until January 2017, then produced motorcycles through the Indian Motorcycle subsidiary, which it purchased in April 2011 and announced its divestiture in October 2025. Polaris produced personal watercraft from 1...
Revenue
$1.5B
Gross Profit
$245.0M
Operating Profit
$-36.1M
Net Profit
$-66.8M
Gross Margin
16.0%
Operating Margin
-2.4%
Net Margin
-4.3%
YoY Growth
-11.6%
EPS
$-1.17
Polaris Inc. Q1 FY2025 Financial Summary
Polaris Inc. reported revenue of $1.5B (down 11.6% YoY) for Q1 FY2025, with a net profit of $-66.8M (down 1857.9% YoY) (-4.3% margin). Cost of goods sold was $1.3B, operating expenses totaled $281.1M.
Key Financial Metrics
| Total Revenue | $1.5B |
|---|---|
| Net Profit | $-66.8M |
| Gross Margin | 16.0% |
| Operating Margin | -2.4% |
| Report Period | Q1 FY2025 |
Revenue Breakdown
Polaris Inc. Q1 FY2025 revenue of $1.5B breaks down across 5 segments, led by Wholegoods at $837.3M (54.5% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Wholegoods | $837.3M | 54.5% |
| PGA | $361.3M | 23.5% |
| On Road Segment | $221.8M | 14.4% |
| Marine Segment | $115.4M | 7.5% |
| Financial Service | $22.1M | 1.4% |
Polaris Inc. Revenue by Segment — Quarterly Trend
Polaris Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Wholegoods and PGA) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Wholegoods | — | $1.1B | $1.1B | $1.0B |
| On Road Segment | — | $187.2M | $228.5M | $289.0M |
| Marine Segment | — | $138.3M | $103.4M | $155.3M |
| Financial Service | — | $19.7M | $19.7M | $22.8M |
Polaris Inc. Annual Revenue by Year
Polaris Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $7.2B).
| Year | Annual Revenue |
|---|---|
| 2025 | $7.2B |
| 2024 | $7.2B |
| 2023 | $8.9B |
| 2022 | $8.6B |
Polaris Inc. Quarterly Revenue & Net Profit History
Polaris Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $1.7B | +8.0% | $-47.2M | -2.8% |
| Q4 FY2025 | $1.9B | +9.5% | $-303.6M | -15.8% |
| Q3 FY2025 | $1.8B | +6.9% | $-15.8M | -0.9% |
| Q2 FY2025 | $1.9B | -5.5% | $-79.3M | -4.3% |
| Q1 FY2025 | $1.5B | -11.6% | $-66.8M | -4.3% |
| Q4 FY2024 | $1.8B | -23.3% | $10.6M | 0.6% |
| Q3 FY2024 | $1.7B | -23.4% | $27.7M | 1.6% |
| Q2 FY2024 | $2.0B | -11.5% | $68.7M | 3.5% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.96B | $1.72B | $1.76B | $1.54B | $1.85B | $1.84B | $1.92B | $1.66B |
| YoY Growth | -11.5% | -23.4% | -23.3% | -11.6% | -5.5% | 6.9% | 9.5% | 8.0% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $5.71B | $5.63B | $5.53B | $5.45B | $5.39B | $5.31B | $4.89B | $5.24B |
| Liabilities | $4.36B | $4.27B | $4.22B | $4.22B | $4.19B | $4.14B | $4.05B | $4.48B |
| Equity | $1.34B | $1.34B | $1.29B | $1.23B | $1.19B | $1.15B | $828.4M | $750.4M |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $146.3M | $21.0M | $206.3M | $83.2M | $320.3M | $158.8M | $178.7M |