Polar Power, Inc. (POLA) financial statements (2023 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments5,1011,6462,8405,64014,201
Cash and cash equivalents5,1011,6462,8405,64014,201
Receivables5,0303,5471,1658,4433,688
Inventory, net of allowances, customer advances and progress billings9,0179,09413,9128,4725,487
Inventory9,0179,09413,9128,4725,487
Prepaid expense4,0063581,265469237
Other undisclosed current assets2,000    
Total current assets:25,15414,64519,18223,02323,612
Noncurrent Assets
Operating lease, right-of-use asset9141,5632,187
Property, plant and equipment1,0191,4972,1002,123824
Other undisclosed noncurrent assets9394949487
Total noncurrent assets:2,0263,1544,3812,217912
TOTAL ASSETS:27,18017,79923,56325,24024,524
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3283115751,066758
Accounts payable3283115751,066758
Debt2421,696946283110
Customer advances and deposits40
Other undisclosed current liabilities2,8242,5151,229584586
Total current liabilities:3,3944,5222,7501,9341,494
Noncurrent Liabilities
Long-term debt and lease obligation5361,7862,437925127
Long-term debt, excluding current maturities268796778925127
Operating lease, liability2689901,660
Other undisclosed noncurrent liabilities(268)(990)   
Total noncurrent liabilities:5361,7862,437925127
Total liabilities:3,9306,3085,1872,8581,621
Stockholders' equity
Stockholders' equity attributable to parent23,25011,49118,37622,38222,903
Common stock11111
Treasury stock, value(40)(40)(40)  
Additional paid in capital36,81623,64319,65719,57819,251
Retained earnings (accumulated deficit)(13,527)(12,113)(1,242)2,8033,651
Total stockholders' equity:23,25011,49118,37622,38222,903
TOTAL LIABILITIES AND EQUITY:27,18017,79923,56325,24024,524

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues16,8969,03124,80124,04614,419
Revenue, net14,419
Cost of revenue(13,451)(14,654)(19,882)(16,615)(9,658)
Cost of goods and services sold(13,451)(14,654)  (9,658)
Gross profit:3,445(5,623)4,9197,4324,761
Operating expenses(6,543)(7,341)(8,901)(8,531)(5,563)
Operating loss:(3,098)(12,964)(3,981)(1,099)(802)
Nonoperating income (expense)1,684(46)(63)3645
Investment income, nonoperating   56 
Other nonoperating income2914   
Interest and debt expense(60)(60)(103)(20)(18)
Other undisclosed income from continuing operations before equity method investments, income taxes   2018
Loss from continuing operations before equity method investments, income taxes:(1,474)(13,070)(4,148)(1,063)(757)
Other undisclosed income from continuing operations before income taxes6060103  
Loss from continuing operations before income taxes:(1,414)(13,010)(4,045)(1,063)(757)
Income tax benefit 2,139 215 
Net loss available to common stockholders, diluted:(1,414)(10,871)(4,045)(848)(757)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net loss:(1,414)(10,871)(4,045)(848)(757)
Comprehensive loss, net of tax, attributable to parent:(1,414)(10,871)(4,045)(848)(757)

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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