Polar Power, Inc.POLAEarnings & Financial Report
Polar Electro Oy is a Finnish manufacturer of sports training computers, particularly known for developing the world's first wireless heart rate monitor.
Revenue
$1.8M
Gross Profit
$-402.0K
Operating Profit
$-2.0M
Net Profit
$-2.1M
Gross Margin
-22.6%
Operating Margin
-111.5%
Net Margin
-120.7%
YoY Growth
-57.6%
EPS
$-0.85
Polar Power, Inc. Q1 FY2024 Financial Summary
Polar Power, Inc. reported revenue of $1.8M (down 57.6% YoY) for Q1 FY2024, with a net profit of $-2.1M (down 92.5% YoY) (-120.7% margin). Cost of goods sold was $2.2M, operating expenses totaled $1.6M.
Key Financial Metrics
| Total Revenue | $1.8M |
|---|---|
| Net Profit | $-2.1M |
| Gross Margin | -22.6% |
| Operating Margin | -111.5% |
| Report Period | Q1 FY2024 |
Revenue Breakdown
Polar Power, Inc. Q1 FY2024 revenue of $1.8M breaks down across 2 segments, led by DC Power Systems at $1.6M (88.3% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| DC Power Systems | $1.6M | 88.3% |
| Other | $208.0K | 11.7% |
Polar Power, Inc. Revenue by Segment — Quarterly Trend
Polar Power, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as DC Power Systems and Other) has evolved quarter over quarter.
| Segment | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|
| Other | $101.0K | $84.0K | $304.0K | $491.0K |
Polar Power, Inc. Annual Revenue by Year
Polar Power, Inc. annual revenue history includes year-by-year totals (for example, 2024 revenue was $14.0M).
| Year | Annual Revenue |
|---|---|
| 2024 | $14.0M |
| 2023 | $15.3M |
| 2022 | $16.1M |
Polar Power, Inc. Quarterly Revenue & Net Profit History
Polar Power, 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 |
|---|---|---|---|---|
| Q3 FY2025 | $1.3M | -74.1% | $-4.1M | -320.9% |
| Q2 FY2025 | $2.7M | -41.9% | $-271.0K | -10.0% |
| Q1 FY2025 | $1.7M | -2.9% | $-1.3M | -73.4% |
| Q4 FY2024 | $2.6M | -27.3% | $-3.0M | -116.3% |
| Q3 FY2024 | $4.9M | +157.1% | $13.0K | 0.3% |
| Q2 FY2024 | $4.7M | -16.6% | $501.0K | 10.8% |
| Q1 FY2024 | $1.8M | -57.6% | $-2.1M | -120.7% |
| Q4 FY2023 | $3.6M | -43.4% | $-3.2M | -87.5% |
Income Statement
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.6M | $1.8M | $4.7M | $4.9M | $2.6M | $1.7M | $2.7M | $1.3M |
| YoY Growth | -43.4% | -57.6% | -16.6% | 157.1% | -27.3% | -2.9% | -41.9% | -74.1% |
Balance Sheet
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $25.3M | $23.9M | $22.2M | $20.9M | $17.5M | $16.6M | $16.5M | $12.3M |
| Liabilities | $12.1M | $12.8M | $10.6M | $9.4M | $9.0M | $9.3M | $9.6M | $9.4M |
| Equity | $13.2M | $11.0M | $11.5M | $11.6M | $8.5M | $7.3M | $7.0M | $2.9M |
Cash Flow
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-346000 | $-989000 | $1.2M | $-590000 | $-136000 | $-584000 | $-404000 | $399000 |