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Twin Vee PowerCats
Twin Vee PowerCats (VEEE) investor relations material
Twin Vee PowerCats Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
Q3 net sales fell 19% YoY to $2.77M; gross loss widened to $377K and net loss increased 9% to $3.01M. Nine-month net loss was $8.01M, and management cited substantial doubt about the ability to continue as a going concern.
Lower boat volumes and unfavorable fixed-cost absorption weighed on margins; higher professional fees tied to merger and corporate ratification matters also pressured results.
Financial highlights
Q3 2026 net sales were $2.77M vs. $3.43M YoY; 10 boats sold at an average price of ~$277K, compared with 31 boats at ~$149K in Q3 2025.
Q3 gross loss was $377K vs. $45K; operating loss was $3.11M vs. $2.78M; net loss was $3.01M vs. $2.76M.
9M sales declined 16% to $9.87M; 47 boats sold vs. 78, while average unit price rose to ~$210K from ~$151K, mainly due to Bahama model mix.
9M gross loss was $364K vs. gross profit of $1.15M; operating loss reached $8.27M and net loss was $8.01M vs. $6.02M.
9M basic and diluted loss per share was $17.99; weighted average shares were 453,249 vs. 50,743, with share data adjusted for reverse splits.
Outlook and guidance
Management expects near-term revenue growth and expense reductions to be insufficient for cash-flow breakeven; cost controls, operational improvements and revenue initiatives are underway.
The USFM merger remains subject to stockholder approvals, an effective Form S-4, the pre-closing CVR restructuring and other conditions; the merger agreement sets a December 31, 2026 end date.
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Latest events from Twin Vee PowerCats
- Stockholders approved a 1-for-37 reverse split and a company name change; results to be filed soon.VEEE
EGM 2026 - Shareholders are asked to ratify a reverse stock split and approve a name change to support strategic goals.VEEEProxy filing
- Q2 2026 sales fell 34% YoY with a $2.9M net loss and ongoing going concern risks.VEEEQ2 2026
- Ratification of a reverse stock split and a strategic name change are key items for shareholder approval.VEEEProxy filing
- Driving growth with new models, expanded capacity, and entry into defense markets.VEEEInvestor presentation
- Net sales up 10% to $3.96M, net loss widened, and margin pressures and Nasdaq risks persist.VEEEQ1 2026
- Consecutive revenue growth, new product launches, and operational scale drive expansion.VEEEInvestor presentation
- Pre-effective amendment updates auditor consent for a flexible, multi-security public offering.VEEERegistration Filing
- Revenue growth, margin improvement, and reduced losses set the stage for scalable 2026 growth.VEEEQ4 2025
Next Twin Vee PowerCats earnings date
Q4 202626 Feb, 2027
Twin Vee PowerCats
Next Twin Vee PowerCats earnings date
Q4 202626 Feb, 2027
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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.