Polar Power, Inc. (POLA) financial statements (2021 and earlier)

Company profile

Business Address 249 E. GARDENA BOULEVARD
GARDENA, CA 90248
State of Incorp. DE
Fiscal Year End December 31
SIC 369 - Miscellaneous Electrical Machinery, Equipment, and Supplies (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,6462,0717278992,8403,6665,431
Cash and cash equivalents1,6462,0717278992,8403,6665,431
Receivables3,5473,4912,4812,6531,1655,2706,132
Inventory, net of allowances, customer advances and progress billings9,09411,38013,88313,53313,91214,14312,125
Inventory9,09411,38013,88313,53313,91214,14312,125
Prepaid expense3583341,0181,4641,2651,1741,170
Total current assets:14,64517,27618,10918,54919,18224,25324,858
Noncurrent Assets
Operating lease, right-of-use asset1,5631,7211,8782,0332,1872,3392,491
Property, plant and equipment1,4971,6341,7781,9362,1002,2422,118
Deferred income tax assets 655655    
Other undisclosed noncurrent assets949893748949494
Total noncurrent assets:3,1544,1084,4044,7174,3814,6764,703
TOTAL ASSETS:17,79921,38422,51323,26623,56328,92929,561
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3113195845735758571,367
Accounts payable3113195845735758571,367
Debt1,696535315960946919841
Other undisclosed current liabilities2,5152,2582,0641,3631,2291,1711,366
Total current liabilities:4,5223,1122,9632,8962,7502,9463,573
Noncurrent Liabilities
Long-term debt and lease obligation1,7863,4463,6732,1952,4372,6782,810
Long-term debt, excluding current maturities7962,2842,342698778859835
Operating lease, liability9901,1621,3311,4971,6601,8191,975
Other undisclosed noncurrent liabilities(990)(1,162)(1,331)    
Total noncurrent liabilities:7963,4463,6732,1952,4372,6782,810
Total liabilities:6,3086,5586,6365,0915,1875,6246,384
Stockholders' equity
Stockholders' equity attributable to parent11,49114,82615,87718,17518,37623,30523,177
Common stock1111111
Treasury stock, value(40)(40)(40)(40)(40)  
Additional paid in capital23,64323,33019,65719,65719,65719,81519,736
Retained earnings (accumulated deficit)(12,113)(8,465)(3,741)(1,443)(1,242)3,4883,440
Total stockholders' equity:11,49114,82615,87718,17518,37623,30523,177
TOTAL LIABILITIES AND EQUITY:17,79921,38422,51323,26623,56328,92929,561

Income statement (P&L) ($ in thousands)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
Revenues2,5432,5011,1262,8608786,9399,237
Cost of revenue(6,996)(2,800)(1,837)(3,020)(3,545)(4,707)(6,274)
Cost of goods and services sold(6,996)(2,800)(1,837)    
Other undisclosed gross profit2,400(2,400)     
Gross profit:(2,053)(2,699)(711)(160)(2,667)2,2322,962
Operating expenses(1,582)(2,014)(1,584)(2,160)(2,009)(2,189)(2,390)
Operating income (loss):(3,635)(4,713)(2,295)(2,320)(4,676)43573
Nonoperating income (expense)(14)(10)(3)(19)(55)5(6)
Other nonoperating income 111    
Interest and debt expense(14)(11)(14)(21)(69)(14)(10)
Other undisclosed income from continuing operations before equity method investments, income taxes      10
Income (loss) from continuing operations before equity method investments, income taxes:(3,663)(4,734)(2,312)(2,360)(4,799)35567
Other undisclosed income from continuing operations before income taxes14111421103  
Income (loss) from continuing operations before income taxes:(3,649)(4,723)(2,298)(2,339)(4,696)35567
Income tax benefit   2,138   
Net income (loss):(3,649)(4,723)(2,298)(201)(4,696)35567
Other undisclosed net income (loss) attributable to parent    (34)14 
Net income (loss) available to common stockholders, diluted:(3,649)(4,723)(2,298)(201)(4,730)48567

Comprehensive Income ($ in thousands)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
Net income (loss):(3,649)(4,723)(2,298)(201)(4,696)35567
Comprehensive income (loss), net of tax, attributable to parent:(3,649)(4,723)(2,298)(201)(4,696)35567

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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