Polar Power Stock In Spotlight After Q4 Revenue Declines But Losses Narrow — Retail’s Not Convinced
Revenue fell 27% year over year to $2.62 million during the quarter, while the company’s net loss narrowed to $3 million or $1.22 per share compared to a loss of $3.16 million or $1.66 per share in the year-ago period.
Polar Power Inc. (POLA) drew investor attention on Tuesday after the company’s fourth-quarter revenues declined but losses narrowed compared to the same quarter a year ago,
Revenue fell 27% year over year (YoY) to $2.62 million during the quarter, while the company’s net loss narrowed to $3 million or $1.22 per share compared to a loss of $3.16 million or $1.66 per share in the year-ago period.
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Sales declined by 6.7% to $14 million in 2024. Net loss narrowed to $4.6 million, or $1.86 per basic and diluted share, compared to $6.5 million, or $3.45 per basic and diluted share, in 2023.
At the end of December 2024, the total net debt stood at $5 million, and total liquidity was $1.1 million, consisting of cash and availability under the line of credit.
CEO Arthur Sams said that although the company experienced volatility in bookings and sales during 2024, it was profitable in two of this year’s quarters.
“We have been successful in reducing our customer concentration in telecom business and reported the doubling in our military/government revenues to nearly $1.5 million for the year,” he said.
“We have begun to implement some internal changes to our sales and marketing protocol to broaden product penetration in our traditional markets as well as new ones, such as mobile electric vehicle chargers, a product line which we successfully tested in 2024 and plan to launch this year.”
Meanwhile, on Stocktwits, retail sentiment continued to trend in the ‘bearish’ territory (33/100).
POLA shares fell over 2% on Tuesday. The stock has lost over 32% on a year-to-date basis.
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