Polar Power reported a narrowed net loss of $178,000 for the first quarter of 2026. This figure compares to a $1.27 million loss during the same period last year. Gross margins increased to 65.7% while net sales remained essentially flat at $1.73 million. Telecom sales accounted for 96% of total revenue.
The company faces a severe liquidity crisis with only $27,000 in cash. Current liabilities exceeded $9 million as of March 31, 2026. Polar Power is currently operating under a forbearance agreement with a key lender until July 31, 2026.
During the quarter, the company raised a net $2.42 million by selling shares. These proceeds were used to improve stockholders' equity.