Twin Vee PowerCats Reports Third Quarter 2025 Financial Results

Rhea-AI Summary

Twin Vee PowerCats (NASDAQ:VEEE) reported third quarter 2025 results on November 6, 2025, with Q3 net sales up 18% to $3.43M and a narrowed gross loss of $45K (Q3 2024: $146K). Operating expenses fell 8% to $2.73M, and Q3 net loss improved 8% to $2.76M or $(1.23) per share. Cash and equivalents were $2.92M at September 30, 2025.

Subsequent event: sale of Marion, NC property closed Oct 31, 2025, delivering $500K upfront and $3.75M in future payments, including a $2.75M balloon due Oct 31, 2027. Company cited Bahama Boat Works integration and dealer expansion as strategic priorities.

Positive

• Q3 net sales +18% to $3.43 million
• Gross loss narrowed to $45,000 from $146,000
• Operating expenses down 8% to $2.73 million
• Nine-month gross profit $1.15M (up ~248%)
• Marion property sale: $500K immediate proceeds and $3.75M future payments

Negative

• Q3 net loss of $2.76M (loss per share $(1.23))
• Nine-month net loss remains $6.02M
• Cash and restricted cash of $2.92M at quarter-end

Insights

Equity analyst

Twin Vee shows operational improvement and near-term liquidity support from a property sale, narrowing losses while revenue grows.

Twin Vee increased net sales 18% to $3.43 million in Q3 and narrowed its gross loss to $45 thousand, driven by cost control and efficiency. Operating expenses fell 8%, producing an improved net loss of $2.76 million for the quarter and stronger nine‑month margins (gross profit rose to $1.15 million). These moves show the company is executing its turnaround levers: revenue expansion via dealers, tighter overhead, and integration of the acquired Bahama Boat Works platform.

Outcomes depend on cash conversion and integration execution. The October 31, 2025 sale delivers $500,000 now and contractual proceeds totaling $3.75 million through 2027, including a $2.75 million balloon on October 31, 2027; this materially improves near‑term liquidity but shifts reliance to future payments. Continued margin improvement requires successful product launches and dealer throughput; the Bahama Boat Works integration and the planned 2026 models are key operational risks and potential execution points.

Watch the cash receipts schedule and integration milestones over the next 12–24 months: confirm receipt of the initial $500,000, monitor development progress for the 2026 model launches, and verify the Bahama Boat Works integration milestones and dealer rollout metrics. Key timeframes to track are the remaining contractual payments through 2027 and commercial performance once the new models enter the market in 2026.

Company narrows quarterly loss 8%, strengthens liquidity with property sale, and advances Bahama Boat Works integration

FORT PIERCE, FLORIDA / ACCESS Newswire / November 6, 2025 / Twin Vee PowerCats Co. (NASDAQ:VEEE),("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport boats, today announced its financial results for the third quarter ended September 30, 2025.

Third Quarter 2025 Highlights

• Net sales up 18% to $3.43 million (Q3 2024: $2.90 million).

• Gross loss narrowed to $45 thousand (Q3 2024: $146 thousand), reflecting improved cost control and efficiency.

• Operating expenses decreased 8% to $2.73 million (Q3 2024: $2.97 million).

• Net loss improved 8% to $2.76 million, or $(1.23) per share (Q3 2024: $(2.64) per share).

• Cash, cash equivalents, and restricted cash totaled $2.92 million at quarter-end.

• Subsequent Event: Completed the sale of the Marion, North Carolina property on October 31, 2025, providing $500,000 in immediate proceeds and $3.75 million in future payments through 2027, including a $2.75 million balloon payment due October 31, 2027.

Management Commentary

"Twin Vee continued to execute its turnaround and cost-reduction plan in the third quarter, improving both gross margin and operating efficiency," said Joseph Visconti, CEO and President. "Our expanding dealer partnerships and disciplined overhead management supported 18% revenue growth while narrowing losses."

Scott Searles, Interim Chief Financial Officer, added, "We remain focused on liquidity, operating leverage, and cash flow. The Marion facility sale and the ongoing Bahama Boat Works integration strengthen our balance sheet and provide a platform for future model introductions."

Operational and Strategic Updates

• Dealer Coverage Expanded: Focus on higher-velocity markets and faster customer response.

• Bahama Boat Works Integration: Advancing development of new premium monohull models following the June 2025 acquisition.

• New Sales Partnership: In October 2025, Twin Vee signed with Terraglio Yacht Group to manage inbound lead flow and represent Twin Vee and Bahama Boats nationwide.

• Product Pipeline: Engineering and marketing teams are preparing 2026 model launches aimed at improving price realization and expanding in the offshore segment.

Nine-Month 2025 Financial Summary

• Net sales: $11.80 million (2024: $12.50 million).

• Gross profit: $1.15 million (2024: $0.33 million), up ~248%.

• Operating loss: Reduced 41% year over year.

• Net loss: $6.02 million (2024: $9.86 million), an improvement of ~39%.

Outlook

The Company remains focused on disciplined cost management, dealer growth, and monetization of non-core assets. Twin Vee expects to enter 2026 with a leaner cost structure, a refreshed product portfolio, and stronger cash flow generation potential.

Conference Call

Joseph Visconti, CEO and President, and Scott Searles, Interim Chief Financial Officer, will hold a conference call today, Thursday, November 6, 2025, at 12:00 p.m. (Eastern). To listen to the conference call, interested parties should dial-in to 1-877-407-3982 and use Conference ID 13756507. All callers should dial in approximately 10 minutes prior to the scheduled start time and ask to join the Twin Vee conference call.

The conference call will also be available through a live audio webcast that can be accessed at the LINK HERE.

The Company's complete financial statements are being filed today with the Securities and Exchange Commission and can be accessed via https://ir.twinvee.com/sec-filings

About Twin Vee PowerCats Co.

Twin Vee PowerCats Co. manufactures a range of boats designed for activities including fishing, cruising, and recreational use. Twin Vee PowerCats are recognized for their stable, fuel-efficient, and smooth-riding catamaran hull designs. Twin Vee is one of the most recognizable brand names in the catamaran sport boat category and is known as the "Best Riding Boats on the Water™." The Company is located in Fort Pierce, Florida, and has been building and selling boats for 30 years. Learn more at twinvee.com.

Visit Twin Vee PowerCats Co. on Facebook, Instagram, and YouTube.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements and include statements regarding the continued improvements in gross margin and operating efficiency in the fourth quarter, scaling responsibly and balancing production increases with expense control and working capital discipline, the development and expansion of a full-scale Bahama Boat Works model lineup in addition to updated Twin Vee model launches for 2026, growing Twin Vee's dealer network throughout the United States and abroad, and anticipating a more favorable cash profile going forward.

These forward-looking statements are based on management's expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to grow revenue in the fourth quarter, the Company's ability to continue to expand its dealer network, the Company's ability to expand gross margins and remain disciplined with operating costs, the Company's ability to realize the benefits of the disposition of its Marion facility, the Company's ability to leverage its sales partnership with Terraglio Yacht Group, and the risk factors described in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, the Company's Quarterly Reports on Form 10-Q, the Company's Current Reports on Form 8-K and subsequent filings with the SEC. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events, except as required by law.

Contact:

Glenn Sonoda
investor@twinvee.com

Condensed Consolidated Statements of Operations (Unaudited)

		Three Months Ended Sept 30								Nine Months Ended Sept 30
		2025				2024				2025				2024
Net sales			3,429				2,901				11,797				12,504
Gross profit (loss)			(45	)			(146	)			1,146				334
Operating expenses			2,731				2,966				7,278				10,648
Operating loss			(2,776	)			(3,112	)			(6,132	)			(10,314	)
Net loss			(2,756	)			(3,010	)			(6,020	)			(9,864	)
Net loss per share		$	(1.23	)		$	(2.64	)		$	(3.21	)		$	(7.50	)
Weighted avg. shares (000s)			2,237				952				1,878				952

(All figures in USD thousands except per share data)

SOURCE: Twin Vee PowerCats Co.

View the original press release on ACCESS Newswire

FAQ

What were Twin Vee (VEEE) Q3 2025 revenue and net loss figures?

Twin Vee reported Q3 2025 net sales of $3.43M and a net loss of $2.76M (or $(1.23) per share).

How did Twin Vee's margins change in Q3 2025 for VEEE?

Gross loss narrowed to $45K in Q3 2025 versus $146K in Q3 2024, reflecting improved cost control.

What liquidity impact did the Marion property sale have for Twin Vee (VEEE)?

The Marion sale closed Oct 31, 2025, providing $500K cash now and $3.75M in future payments, including a $2.75M balloon due Oct 31, 2027.

Does Twin Vee (VEEE) expect product changes after the Bahama Boat Works acquisition?

Yes; Twin Vee is advancing Bahama Boat Works integration and developing new premium monohull models for planned 2026 launches.

What was Twin Vee's nine-month 2025 financial performance for VEEE?

Nine-month 2025 net sales were $11.80M, gross profit $1.15M (up ~248%), and net loss $6.02M.

When and how can investors access Twin Vee's November 6, 2025 conference call for VEEE?

The conference call was on Nov 6, 2025 at 12:00 PM ET via dial-in 1-877-407-3982 (Conference ID 13756507) and a live audio webcast on the company site.