NeoVolta (NEOV) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 FY2026 reached $4.6 million, up 334% year-over-year, and $11.3 million for the first half, up 580% from the prior year period.

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

• Closed Neubau Energy acquisition, advanced Luminia collaboration for up to 160 MWh supply and $39 million potential equipment revenue, and launched a U.S. manufacturing joint venture with PotisEdge and LONGi.

• The addressable U.S. market is projected to reach $45 billion by 2030, spanning utility, residential, C&I storage, and services.

Financial highlights

• Q2 FY2026 revenue was $4.6 million, up from $1.1 million in Q2 FY2025; first half revenue was $11.3 million, up from $1.7 million.

• Gross profit for Q2 was $800,000 (17% margin), down from 30% margin last year due to strategic inventory investments and supply chain pressures.

• Operating expenses rose to $5.2 million, driven by $2.1 million in non-cash share-based compensation and investments in leadership and infrastructure.

• Net loss for Q2 was $5.5 million ($0.16/share), and $6.8 million ($0.20/share) for the first half, reflecting stock comp and debt exchange costs.

• Cash at December 31, 2025 was $212,000, with working capital of $3.4 million, rising to $16 million after recent financings.

Outlook and guidance

• Margins are expected to improve as volumes scale, the NV Wave platform ramps, and domestic production of higher-margin utility and C&I products begins.

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

• Gross margins for U.S. production are expected in the mid-20% range, with a goal of reaching 30% as operations mature.

• Continued focus on expanding recurring revenue streams and scaling Battery-as-a-Service and third-party ownership models.

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