Polar Power, Inc. reports its financial results for the three months ended June 30, 2025.
Net sales declined by 42% compared to the same period in 2024.
Gross profit decreased by 49% and operating expenses declined by 24% in the second quarter of 2025.
Telecom Market Dominance
Sales to telecom customers accounted for 92% of total net sales in the second quarter of 2025.
International Sales
Sales to customers outside the U.S. represented 3% of total net sales in Q2 2025, compared to 25% in the same period in 2024.
Product Innovations
Plans to release a 30 kW mobile EV charger in the fourth quarter following successful field trials in South East Asia and Africa telecoms.
- The restructuring of sales strategies and the introduction of new personnel in key regions are aimed at diversifying the customer base and increasing market presence.
- Increased sales in aftermarket parts and services signal a shift towards potential revenue streams beyond core product sales.
Polar Power remains dedicated to enhancing sales and marketing strategies to broaden its reach and improve sales performance, focusing on technological advancements and customer diversification.