Polar Power Reports Second Quarter 2025 Financial Results

About this update from Polar Power, Inc.

GARDENA, CA, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Polar Power, Inc. (“Polar Power” or the “Company”) (NASDAQ: POLA), a global provider of prime, backup, and solar hybrid DC power solutions, reports its financial results for the three months ended June 30, 2025. Q2 2025 Financial Highlights Arthur Sams, Chairman and CEO of Polar Power, commented, “The telecom market continues to dominate our customer base for our DC power systems. During the second quarter of 2025, sales to our telecom customers represented 92% of total net sales, compared to 95%, in the same period in 2024. Sales to military customers represented 6% of total net sales, compared to 3% in the same period in 2024. Sales to customers in other markets represented 2% in the second quarter of 2025, and 2% in the same period in 2024. Sales to customers outside of the U.S. represented 3% of total net sales in the second quarter of 2025, compared to 25% in the same period in 2024. While sales of our gensets continued to be sluggish during the second quarter of 2025, we experienced increased sales in aftermarket parts and services of roughly 288%, compared to the same period in 2024. We believe that restructuring our US sales to include distribution through domestic resellers will be the fastest direction in rebuilding sales to pre-pandemic levels.” “From January 1, 2025, we have been restructuring our sales staff in the Middle East and Africa by adding new personnel along with establishing resellers overseas. With our new staff we have recently increased the number of field trials for our DC generators into South East Asia and Africa telecoms. One field trial in Sudan that was suspended due to civil war years back was restarted last week with favorable results.” “We are experiencing active participation from LPG fuel distributors in assisting Polar Power with marketing of our microgrids (as installed for the UNHCR in Nigeria) to their customer base. We added heat recovery to our microgrid systems to further increase fuel to useful energy conversion.” “After 1 year of testing, we plan to release our 30 kW mobile EV charger during the fourth quarter.” “We plan to continue to improve our sales and marketing proficiency, further diversifying our customer base,” concluded Mr. Sams. Polar Power, Inc. Polar Power (NASDAQ: POLA) is pioneering technological changes that radically change the production, consumption, and environmental impact of power generation and is a provider of DC advanced power and cooling systems, pioneering innovations across diverse industrial applications. Its product portfolio, known for innovation, durability, and efficiency, presently includes standard products for telecom, military, renewable energy, marine, EV charging, residential, commercial, oil field and mining applications. Polar Power’s systems can be configured to operate on any energy source including photovoltaics, diesel, LPG (propane and butane), and renewable fuels. Polar Power’s telecom power solutions offer significant cost savings with installation, permitting, site leases, and operation. Its military solutions provide compact, lightweight, fuel efficient, reliable power solutions for robotics, drone, communications, hybrid propulsion, and other applications. Its mobile rapid battery charging technology enables on-demand roadside charging for electric vehicles. Its combined heat and power (CHP) residential systems offer innovative vehicle charging and integrated home power systems via natural gas or propane feedstocks, optimizing performance and system costs. Polar Power’s micro / nano grid solutions provide lower cost energy in “bad-grid or no-grid” environments. Its commitment to technological advancement extends to hybrid propulsion systems for marine and specialty vehicles, ensuring efficiency, comfort, reliability, and cost savings. For more information, please visit www.polarpower.com . or follow Polar Power on www.linkedin.com/company/polar-power-inc/ . Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 This news release contains certain statements of a forward-looking nature relating to future events or future business performance. Forward-looking statements can be identified by the words “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plans,” “will,” “outlook” and similar expressions. Forward-looking statements are based on management’s current plans, estimates, assumptions and projections, and speak only as of the date they are made. With the exception of historical information, the matters discussed in this press release including, without limitation, that the Company plans to improve its operational efficiencies or expand its customer base in all market segments, that the Company plans to release its 30 kW mobile EV charger during the fourth quarter, and that the Company plans to continue to improve its sales and marketing proficiency, further diversifying its customer base, are forward-looking statements and considerations that involve a number of risks and uncertainties. The actual future results of Polar Power could differ from those statements. Factors that could cause or contribute to such differences include, but are not limited to, adverse domestic and foreign economic and market conditions, including demand for its; trade tariffs on raw materials; changes in domestic and foreign governmental regulations and policies; the impact of inflation and changing prices on raw materials; supply chain constraints causing significant delays in sourcing raw materials; labor shortages as a result of the pandemic, low unemployment rates, or other factors limiting the availability of qualified workers; and other events, factors and risks. The Company undertakes no obligation to update any forward-looking statement in light of new information or future events, except as otherwise required by law. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and are generally beyond Polar Power’s control. Actual results or outcomes may differ materially from those implied by the forward-looking statements as a result of the impact of a number of factors, many of which are discussed in more detail in Polar Power’s reports filed with the Securities and Exchange Commission. Company Contact: Polar Power, Inc. 249 E. Gardena Blvd. Gardena, CA 90248 Tel: 310-830-9153 [email protected] www.polarpower.com POLAR POWER, INC. CONDENSED BALANCE SHEETS (in thousands, except share and per share data) POLAR POWER, INC. UNAUDITED CONDENSED STATEMENTS OF OPERATIONS (in thousands, except share and per share data) POLAR POWER, INC. UNAUDITED CONDENSED STATEMENTS OF CASH FLOW (in thousands)

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