NeoVolta (NEOV) Q4 2026 earnings summary

Executive summary

• Completed transformation into a multi-market energy storage platform, now serving residential, C&I, and utility-scale markets, anchored by a new U.S. BESS manufacturing joint venture.

• Opened the Pendergrass, Georgia, manufacturing facility, marking a major operational milestone.

• Launched NV Wave modular residential product and expanded C&I route to market.

• Established strategic supply and manufacturing relationships, notably with SK On for LFP cells, securing long-term U.S. battery cell supply and supporting capacity expansion through 2031.

• Fourth quarter saw a sharp revenue decline due to changes in federal incentives and tax law impacting residential demand.

Financial highlights

• Fiscal year 2026 revenue rose 58% to $13.3 million, up from $8.4 million in 2025.

• Q4 2026 revenue was $13,000, down from $4.8 million in Q4 2025, reflecting residential market headwinds.

• Fiscal year 2026 GAAP net loss was $21.5 million ($0.55/share), compared to $5 million ($0.15/share) in 2025.

• Q4 2026 GAAP net loss was $11.7 million, primarily due to $3.9 million in credit losses and $1.1 million in inventory obsolescence.

• Fiscal year 2026 adjusted EBITDA was -$12.8 million, versus -$2.6 million in 2025.

Outlook and guidance

• Focus for fiscal year 2027 is on operational execution, ramping Pendergrass production, and converting pipeline opportunities into binding orders, including a major LOI with Infinite Grid Capital.

• Expect sequential recovery in residential volumes as 2027 progresses, supported by NV Wave and third-party ownership financing.

• Anticipate first deliveries from new commercial product line in Q2 2027, with robust C&I and utility-scale demand pipeline.

• Second production line for pouch LFP cells targeted for ramp-up in second half of 2027, supporting up to 8 GWh annual capacity by 2028, backed by SK On agreements.