Active matter is not only relevant to living matter and diverse nonequilibrium systems, but also constitutes a fertile ground for novel physics. Indeed, dynamic renormalization group (DRG) analyses have uncovered many new universality classes (UCs) in polar active fluids -an archetype of active matter systems. However, due to the inherent technical difficulties in the DRG methodology, almost all previous studies have been restricted to polar active fluids in the incompressible or infinitely compressible (i.e., Malthusian) limits, and, when the -expansion was used in conjunction, to the one-loop level. Here, we use functional renormalization group methods to bypass some of these difficulties and unveil for the first time novel critical behavior in compressible polar active fluids, and calculate the corresponding critical exponents beyond the one-loop level. Specifically, focusing on a multicritical region of the system, we find three novel UCs and quantify their associate scaling behavior near the upper critical dimension dc = 6.