NeoVolta (NEOV) investor relations material

Executive summary

• Revenue rebounded to $2.787M from ~ $13.5K in the prior quarter, driven by initial residential TPO project sales; gross profit returned to positive territory.

• Focus shifted to production execution at the Pendergrass facility and converting residential, C&I, and utility-scale commitments into shipments and revenue.

Financial highlights

• Revenue was $2.787M vs. $6.650M YoY; gross profit was $1.018M vs. $1.577M YoY.

• GAAP net loss was $7.733M, or $0.13 per share, vs. $1.243M, or $0.04 per share, YoY; prior-quarter net loss was $11.7M.

• Adjusted EBITDA loss was $5.514M vs. $0.388M in the prior-year quarter and $8.000M in the prior quarter.

• Gross margin was 36.5%, reflecting higher-value installed project sales and a return to positive gross profit.

• Cash and cash equivalents were $26.0M, plus $2.8M restricted cash, totaling $28.8M at quarter-end vs. $25.4M at June 30, 2026.

Outlook and guidance

• Residential volumes are expected to build as TPO scales and NV Wave is deployed; growth will be paced to manage execution and risk.

• Initial C&I deliveries from Georgia are scheduled for Q4 2026 under a commitment for at least $10M in purchases through 2027; utility-scale and C&I pipelines remain active.

• Deliveries under a new $116M master service agreement are targeted from late Q1 2027; timing depends on customer purchase orders, and management aims to pull as much as possible into H1.

• Priorities include ramping Pendergrass without compromising quality, meeting customer delivery requirements, converting pipeline to committed backlog, and aligning spending with demand.