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Twin Vee PowerCats (VEEE) investor relations material

Twin Vee PowerCats Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary6 Nov, 2025

Executive summary

  • Net sales for Q3 2025 increased 18% year-over-year to $3.43 million, driven by new dealer initiatives, higher unit sales, and improved average prices.

  • Net loss for Q3 2025 improved 8% to $2.76 million, or $(1.23) per share, reflecting better cost management and efficiency.

  • Operating expenses for the nine months ended September 30, 2025, fell 32% year-over-year, mainly from reduced R&D, lower professional fees, and decreased stock-based compensation.

  • Strategic initiatives included the sale of the North Carolina/Marion property and integration of Bahama Boat Works.

  • Dealer network expanded by 14 new locations in 2025, including international expansion to Australia.

Financial highlights

  • Q3 2025 net sales: $3.43 million (up 18% YoY); 23 boats sold at ~$149,000 average price.

  • Q3 2025 gross loss: $45,000 (improved from $146,000 in Q3 2024); gross margin improved by 3.7 percentage points.

  • Q3 2025 net loss: $2.76 million (improved from $3.01 million in Q3 2024); loss per share improved 53% to $(1.23).

  • Nine months 2025 net sales: $11.8 million (down 6% YoY); gross profit: $1.15 million (up 243% YoY); gross margin: 9.7% (up from 2.7%).

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

Outlook and guidance

  • Focus remains on disciplined cost management, dealer growth, and monetization of non-core assets.

  • Entering Q4 with a leaner cost base, stronger dealer coverage, and a healthier balance sheet.

  • Management anticipates continued improvements in gross margin and operating efficiency in Q4.

  • Substantial doubt remains about the ability to continue as a going concern due to ongoing losses and liquidity concerns.

  • Additional capital may be required; future funding is uncertain and may be dilutive or restrictive.

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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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