Revenue: As of FY2025, the actual value is USD 6.304 M.EPS: As of FY2025, the actual value is USD -3.59.EBIT: As of FY2025, the actual value is USD -7.703 M.<h4>Net Sales</h4>Net sales for Polar Power, Inc. were $6,304 in 2025, a 55% decrease from $13,970 in 2024, primarily due to customers delaying projects amid geopolitical factors and economic uncertainties.<h4>Segment Revenue</h4>By Customer Type: Telecommunications: Accounted for 88% of total net sales in both 2025 and 2024. The largest customer (a U.S. Tier-1 telecommunications customer) contributed 65% of total net sales in 2025, compared to two largest customers representing 48% and 14% in 2024. Military: Represented 8% of total revenues in both 2025 and 2024. Marine: Decreased to 1% of total revenues in 2025 from 3% in 2024. Other Markets: Increased to 2% of total revenues in 2025 from 1% in 2024.By Product Type: DC Power Systems: Generated $4,485 in 2025, down from $12,577 in 2024. Engineering &amp; Tech Support Services: Generated $152 in 2025, down from $384 in 2024. Accessories: Generated $1,667 in 2025, up from $1,009 in 2024.By Geographical Region: United States: Accounted for $5,889 (93% of total net sales) in 2025, compared to $12,108 (87%) in 2024. International Sales (total): Decreased to $415 (7% of total net sales) in 2025 from $1,862 (13%) in 2024. Canada: Increased to $34 in 2025 from $2 in 2024. Australia and South Pacific Islands: Decreased to $41 in 2025 from $1,359 in 2024. Other Asia Pacific: Remained flat at $31 in both 2025 and 2024. United Kingdom, Europe and Middle East: Decreased to $309 in 2025 from $358 in 2024. S. Africa: Decreased to $0 in 2025 from $112 in 2024.<h4>Operational Metrics</h4><ul><li>Net Loss: Increased to $9,133 in 2025 from $4,677 in 2024.</li><li>Gross Profit (Loss): Polar Power, Inc. reported a gross loss of - $3,156 in 2025 (or -50.1% of net sales), compared to a gross profit of $1,314 in 2024 (or 9.4% of net sales), primarily due to increased factory overhead absorption, factory underutilization, and inventory adjustments.</li><li>Cost of Sales: Decreased by $3,196 or 25% to $9,460 in 2025 from $12,656 in 2024, but as a percentage of net sales, it increased from 90.6% in 2024 to 150.1% in 2025.</li><li>Inventory Write-downs: Included $1,967 in 2025 and $900 in 2024 to adjust inventory to net realizable value.</li><li>Sales and Marketing Expenses: Decreased by $203 to $807 in 2025 from $1,010 in 2024 due to a slight decrease in sales support staff.</li><li>Research and Development Expenses: Decreased by $125 to $646 in 2025 from $771 in 2024, attributed to a decrease in engineering staff.</li><li>General and Administrative Expenses: Decreased by $549 to $3,359 in 2025 from $3,908 in 2024 due to a decrease in staff.</li><li>Impairment of Right-of-Use Assets and Lease Deposits: Totaled $455 in 2025, with $347 related to right-of-use assets and $108 related to lease deposits.</li><li>Interest and Finance Costs: Increased to $720 in 2025 from $649 in 2024.</li></ul><h4>Cash Flow</h4><ul><li>Net Cash Used in Operating Activities: Was - $1,061 in 2025, compared to - $536 in 2024, mainly due to net loss, decreased proceeds from ERC receivable, and decreased refundable income taxes.</li><li>Net Cash Used in Investing Activities: Was - $0 in 2025, compared to - $19 in 2024.</li><li>Net Cash Provided by Financing Activities: Was $763 in 2025, compared to $504 in 2024, including $757 from ATM offering, $330 from related-party notes payable, and $437 from other notes payable.</li></ul><h4>Unique Metrics</h4><ul><li>Sales Backlog: Totaled $4,306 as of December 31, 2025, with 82% from telecommunications, 17% from military, and 1% each from marine and other markets.</li><li>Effective Tangible Net Worth: Was approximately $755 as of December 31, 2025, which was below the minimum covenant of $6,000 with Pinnacle Bank.</li></ul><h4>Outlook / Guidance</h4>Polar Power, Inc. plans to continue global marketing and customer base expansion across all market segments, aiming to improve inventory turns for cash flow generation and overhead reduction. The company anticipates growth in the telecommunications market due to 5G and rural infrastructure, and strong opportunities in bad-grid/off-grid applications for its natural gas/LPG product lines. In 2026, Polar Power, Inc. expects to increase its engineering team and invest in new product development to diversify its offerings.

Polar Power | 10-K: FY2025 Revenue: USD 6.304 M