Polar Power, Inc. Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9. SUBSEQUENT EVENTS On October 6, 2025, the Company entered into an ATM sales agreement (the “Sales Agreement”) with ThinkEquity LLC (the “Sales Agent”), pursuant to which the Company may offer and sell, from time to time through the Sales Agent, shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share, up to a maximum amount as set forth in the Sales Agreement, subject to the terms and conditions of the Sales Agreement. On October 6, 2025, the Company filed a prospectus supplement to its registration statement on Form S-3 (File No. 333-276705) offering the Shares up to an aggregate offering price of up to $2,382. As of November 19, 2025, the Company sold 147,144 Shares pursuant to the Sales Agreement at an average price per share of approximately $5.00 resulting in approximately $714 in net proceeds to the Company after deducting commissions. In October 2025, the Company received a $674 contract from a military customer for the delivery of compact, lightweight DC generators designed for mobile applications. In November 2025, the Company received a purchase order for $1,700 for fifty Mobile EV Chargers to be used in emergency roadside charging, EV dealership lots and EV car rental yards. These mobile EV chargers are independent of the grid and operate using a propane fueled Toyota engine driving a DC generator for direct EV charging. The Company is still in pre-production and these EV chargers are scheduled for delivery in 2026 over a 12-month period. Presently the Company has limited sales capability within this specialized market and its new customer performs as a distributor bringing the opportunity for volume sales well above the 50 units. The Company also receive new orders from its telecommunications customers in the U.S. for approximately $850. As of November 19, 2025, the Company’s backlog was $5,283, of which 53% is from telecommunications customers, 13% from military customers, 1% from marine customers, and 33% from its customer for EV mobile chargers. The Company expects that the majority of these orders will ship to customers within the next twelve months.

SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2025

NOTE 9. SUBSEQUENT EVENTS

On October 6, 2025, the Company entered into an ATM sales agreement (the “Sales Agreement”) with ThinkEquity LLC (the “Sales Agent”), pursuant to which the Company may offer and sell, from time to time through the Sales Agent, shares (the “Shares”) of the Company’s common stock, par value $0.0001 per share, up to a maximum amount as set forth in the Sales Agreement, subject to the terms and conditions of the Sales Agreement. On October 6, 2025, the Company filed a prospectus supplement to its registration statement on Form S-3 (File No. 333-276705) offering the Shares up to an aggregate offering price of up to $2,382.

As of November 19, 2025, the Company sold 147,144 Shares pursuant to the Sales Agreement at an average price per share of approximately $5.00 resulting in approximately $714 in net proceeds to the Company after deducting commissions.

In October 2025, the Company received a $674 contract from a military customer for the delivery of compact, lightweight DC generators designed for mobile applications.

In November 2025, the Company received a purchase order for $1,700 for fifty Mobile EV Chargers to be used in emergency roadside charging, EV dealership lots and EV car rental yards. These mobile EV chargers are independent of the grid and operate using a propane fueled Toyota engine driving a DC generator for direct EV charging. The Company is still in pre-production and these EV chargers are scheduled for delivery in 2026 over a 12-month period. Presently the Company has limited sales capability within this specialized market and its new customer performs as a distributor bringing the opportunity for volume sales well above the 50 units.

The Company also receive new orders from its telecommunications customers in the U.S. for approximately $850. As of November 19, 2025, the Company’s backlog was $5,283, of which 53% is from telecommunications customers, 13% from military customers, 1% from marine customers, and 33% from its customer for EV mobile chargers. The Company expects that the majority of these orders will ship to customers within the next twelve months.