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
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,6462,8405,64014,201
Cash and cash equivalents1,6462,8405,64014,201
Receivables3,5471,1658,4433,688
Inventory, net of allowances, customer advances and progress billings9,09413,9128,4725,487
Inventory9,09413,9128,4725,487
Prepaid expense3581,265469237
Total current assets:14,64519,18223,02323,612
Noncurrent Assets
Operating lease, right-of-use asset1,5632,187
Property, plant and equipment1,4972,1002,123824
Other undisclosed noncurrent assets94949487
Total noncurrent assets:3,1544,3812,217912
TOTAL ASSETS:17,79923,56325,24024,524
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3115751,066758
Accounts payable3115751,066758
Debt1,696946283110
Customer advances and deposits40
Other undisclosed current liabilities2,5151,229584586
Total current liabilities:4,5222,7501,9341,494
Noncurrent Liabilities
Long-term debt and lease obligation1,7862,437925127
Long-term debt, excluding current maturities796778925127
Operating lease, liability9901,660
Other undisclosed noncurrent liabilities(990)   
Total noncurrent liabilities:1,7862,437925127
Total liabilities:6,3085,1872,8581,621
Stockholders' equity
Stockholders' equity attributable to parent11,49118,37622,38222,903
Common stock1111
Treasury stock, value(40)(40)  
Additional paid in capital23,64319,65719,57819,251
Retained earnings (accumulated deficit)(12,113)(1,242)2,8033,651
Total stockholders' equity:11,49118,37622,38222,903
TOTAL LIABILITIES AND EQUITY:17,79923,56325,24024,524

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues9,03124,80124,04614,419
Revenue, net14,419
Cost of revenue(14,654)(19,882)(16,615)(9,658)
Cost of goods and services sold(14,654)  (9,658)
Gross profit:(5,623)4,9197,4324,761
Operating expenses(7,341)(8,901)(8,531)(5,563)
Operating loss:(12,964)(3,981)(1,099)(802)
Nonoperating income (expense)(46)(63)3645
Investment income, nonoperating  56 
Other nonoperating income14   
Interest and debt expense(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:(13,070)(4,148)(1,063)(757)
Other undisclosed income from continuing operations before income taxes60103  
Loss from continuing operations before income taxes:(13,010)(4,045)(1,063)(757)
Income tax benefit2,139 215 
Net loss available to common stockholders, diluted:(10,871)(4,045)(848)(757)

Comprehensive Income ($ in thousands)

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