NeoVolta (NEOV) Q2 2026 earnings summary

Executive summary

• Q2 FY2026 revenue reached $4.6 million, up 334% year-over-year; first half revenue was $11.3 million, up 580% from the prior year.

• Achieved transformational growth through strategic acquisitions, new partnerships, and expansion into residential, commercial, industrial, and utility-scale markets.

• Closed Neubau Energy acquisition, advanced Luminia collaboration, and launched a U.S. manufacturing JV with PotisEdge and LONGi in Georgia.

• Revenue and gross profit saw significant year-over-year increases, though margin compression and higher operating expenses impacted net results.

• Advanced toward a vertically integrated energy solutions platform, launching the NVWAVE modular battery platform.

Financial highlights

• Q2 FY2026 revenue: $4.6 million (334% YoY growth); first half revenue: $11.3 million (580% YoY growth).

• Q2 gross profit: $800,000 (gross margin 17%); first half gross profit: $2.3 million (gross margin 21%).

• Q2 net loss: $5.5 million ($0.16/share); first half net loss: $6.8 million ($0.20/share).

• Operating expenses increased to $5.2 million in Q2, driven by non-cash share-based compensation and investments in scaling and infrastructure.

• Operating expenses as a percentage of revenue increased due to growth investments.

Outlook and guidance

• Margins expected to improve as volumes scale, NV Wave ramps, and domestic production of higher-margin products begins.

• Mass production at the Georgia facility targeted for mid-2026, aiming for up to 1 GWh output in the first year and rapid expansion to 8 GWh.

• Neubau acquisition and modular platform expected to accelerate installs and margin expansion.

• Continued focus on expanding recurring revenue streams and scaling BaaS and TPO models.

• C&I segment expected to offer significant near-term growth over the next 2–3 years.