Polar Power faces eviction, lender forbearance, and $9.1M loss amid 55% revenue collapse

Filed April 15, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 31, 2025 · ~2 min read

Key Changes

• high

  Company delinquent on rent at two facilities; landlord filed eviction summons at headquarters in October 2025, later paused for payment negotiations. If eviction proceeds, production could halt and inventory access could be impaired.

  Business: Eviction Proceedings verify on EDGAR →
• high

  Breached Pinnacle Bank's tangible net worth covenant ($755 actual vs. $6,000 minimum) after $2.0M inventory write-down. Forbearance agreement requires full loan repayment by July 31, 2026; failure allows lender to seize collateral and foreclose.

  Business: Pinnacle Forbearance verify on EDGAR →
• high

  Net sales fell 55% to $6.3M; gross margin swung from +9.4% profit to (50.1)% loss; net loss nearly doubled to $9.1M. Working capital turned negative at ($0.3M). Management cites customer project delays due to geopolitical and economic uncertainties.

  MD&A: Financial Performance verify on EDGAR →