Twin Vee PowerCats
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Twin Vee PowerCats (VEEE) investor relations material

Twin Vee PowerCats Registration Filing summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Registration Filing summary9 Jan, 2026

Company overview and business model

  • Designs, manufactures, and markets recreational and commercial power boats, focusing on catamarans and monohull vessels under Twin Vee and Bahama Boat Works brands.

  • Operates from a 7.5-acre facility in Fort Pierce, Florida, with recent expansion to 100,000 sq. ft.

  • Sells primarily through a network of 22 independent dealers across North America, the Caribbean, and Central America.

  • Recently acquired Bahama Boat Works assets and launched Wizz Banger, an AI-driven marine retail and valuation platform.

  • Ceased electric boat development in 2024; Forza X1 merged as a wholly owned subsidiary.

Financial performance and metrics

  • Net sales for the nine months ended September 30, 2025: $11.8M, down 6% year-over-year; gross profit up 243% to $1.15M.

  • Net loss for the nine months ended September 30, 2025: $6.0M, improved from $9.9M loss in prior year.

  • Fiscal year 2024 net sales: $14.4M; net loss: $14.0M; accumulated deficit as of September 30, 2025: $31.4M.

  • Cash and equivalents as of September 30, 2025: $2.7M; working capital: $7.6M.

  • Gross margin improved due to cost controls and efficiency gains; operating expenses decreased 32% year-over-year.

Use of proceeds and capital allocation

  • Estimated net proceeds of $16.1M (up to $18.8M with full over-allotment) to be used primarily for working capital and general corporate purposes.

  • Management retains broad discretion over allocation; may pursue acquisitions or investments in complementary businesses.

  • Pending use, proceeds will be invested in short-term, interest-bearing securities.

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AGM 202621 Jan, 2026
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AGM 202621 Jan, 2026

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Frequently asked questions

Twin Vee PowerCats Co. is a designer, manufacturer, and marketer of recreational and commercial power catamaran boats. Twin Vee offers a range of gas-powered models, building different sizes starting from a 24-foot dual model, catering to both leisure and professional applications. These catamarans are designed with a focus on quality, performance, and style, aiming to deliver the best marine experience to customers by continually innovating and refining their power sport catamaran boat designs. The company is headquartered in Fort Pierce, Florida, and its shares are listed on the Nasdaq.

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