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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.Company overview and business model
Designs, manufactures, and markets recreational and commercial power boats, focusing on catamaran and monohull models under Twin Vee and Bahama Boat Works brands.
Operates from a 7.5-acre facility in Fort Pierce, Florida, with about 70 employees and a recently completed 30,000 sq. ft. expansion.
Sells primarily through a network of 17 independent dealers across North America, Hawaii, and Australia, with ongoing efforts to expand dealer and distributor relationships.
Revenue is almost entirely from boat sales, with new initiatives in technology-enabled marine retail and valuation (Wizz Banger platform).
Acquired Bahama Boat Works assets in June 2025 and launched Black Line Defense subsidiary for defense and security maritime platforms in January 2026.
Financial performance and metrics
Net sales for the nine months ended September 30, 2025, were $11.8M, down 6% year-over-year; gross profit improved to $1.1M from $334K.
Net loss for the nine months ended September 30, 2025, was $6.0M, an improvement from $9.9M in the prior year period.
For the year ended December 31, 2024, net sales were $14.4M, with a net loss of $14.0M and an accumulated deficit of $25.4M.
Cash and cash equivalents as of September 30, 2025, were $2.7M; working capital was $7.6M.
Gross margin improved due to cost controls, reduced R&D, and efficiency gains, despite lower average selling prices.
Use of proceeds and capital allocation
Estimated net proceeds of $15.8M (assuming full exercise of pre-funded warrants) to be used primarily for working capital and general corporate purposes.
Management retains broad discretion over allocation; proceeds may also support potential acquisitions or investments.
Pending use, proceeds will be invested in short-term, interest-bearing securities.
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