NeoVolta (NEOV) Q4 2026 earnings summary

Executive summary

• FY26 revenue grew 58% to $13.3 million as the business transformed into a multi-market energy storage platform.

• Expanded beyond residential into C&I and utility-scale markets; launched the NV Wave residential product and broadened C&I routes to market.

• Opened the Pendergrass, Georgia, manufacturing facility, with production ramp expected in Q2 FY27.

• Signed a five-year SK On agreement for 9 GWh of LFP cells, with a framework for up to 18 GWh of combined activity.

• Q4 revenue fell sharply amid federal tax law changes affecting residential demand.

Financial highlights

• FY26 revenue was $13.3 million, up 58% from $8.4 million in FY25.

• Q4 revenue was $13.5 thousand, down from $4.8 million a year earlier.

• FY26 GAAP net loss was $21.5 million ($0.55/share), versus $5.0 million ($0.15/share) in FY25.

• Q4 GAAP net loss was $11.7 million, including $3.9 million in credit losses and $1.1 million in inventory obsolescence.

• FY26 adjusted EBITDA was $(12.8) million versus $(2.6) million in FY25; Q4 adjusted EBITDA was $(8.0) million versus $(0.7) million.

Outlook and guidance

• FY27 priorities include executing the Pendergrass ramp and converting pipeline opportunities into binding orders.

• Residential volumes are expected to recover sequentially through FY27, supported by NV Wave and third-party ownership financing.

• First deliveries from the new commercial product line are anticipated in Q2 FY27; the updated solution is 313 kWh.

• A second pouch LFP production line is targeted to ramp in H2 2027, supporting up to 8 GWh of annual capacity by 2028.