10-K · February 27, 2026
Twin Vee PowerCats (VEEE) remains a small, product-focused boat manufacturer that expanded its model lineup and completed integration of the Bahama Boat Works brand in 2025 while developing the Wizz Banger…
Earnings analysis · 10-Q
VEEE earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
In Q1 2026, Twin Vee PowerCats Co. reported a 10% revenue increase to $3,964,706, driven by new dealer initiatives despite recognizing significant losses. Gross profit decreased by 63%, lowering the gross margin to 5.0%…
Read full summary
In Q1 2026, Twin Vee PowerCats Co. reported a 10% revenue increase to $3,964,706, driven by new dealer initiatives despite recognizing significant losses. Gross profit decreased by 63%, lowering the gross margin to 5.0% from 14.9% year-over-year, while EPS improved to -$12.93 from -$40.05 in the previous year, indicating operational challenges persist.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-12.93
- Gross margin
- 5.0%
What stood out
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Revenue Growth
Revenue increased by 10% to $3,964,706 from $3,612,291 YoY.
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EPS Improvement
Reported EPS improved to -$12.93 from -$40.05 YoY, a 68% improvement.
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Cash Position Strengthened
Cash and cash equivalents rose to $5,456,639, up 281.2% from $1,431,578.
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Equity Offerings Completed
Raised approximately $5,800,025 in net proceeds from three equity offerings.
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Working Capital Surge
Working capital increased by 140% to $6,365,300 compared to $2,652,704 at the end of 2025.
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Operating Income Improved Slightly
Net loss narrowed to $2,094,278 from $1,610,240; however, operational losses remain significant.
What to watch
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High Net Loss
Net loss increased by 30% compared to Q1 2025, reaching $2,094,278.
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Going Concern Doubts
Management mentions substantial doubt about continuing as a going concern due to ongoing losses.
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Liquidity Risks
Increased liability levels, with current liabilities at $3,232,034, rising 44% from the previous year.
Management's outlook
Outlook deferred to future announcements.
Earlier filings 4
10-Q · November 6, 2025
Twin Vee PowerCats reported Q3 net sales of $3,428,977 and GAAP diluted loss per share of $(1.23). Revenue and gross profit improved year-over-year (net sales up from $2,901,318 and gross loss narrowed from $(145,657)…
10-Q · May 8, 2025
Twin Vee reported Q1 2025 net sales of $3,612,291 (down from $5,276,343 in Q1 2024) with gross profit improving to $537,114 and gross margin of ~14.9%. Loss from operations narrowed to $(1,679,094) and net loss improved…
10-Q · November 14, 2024
Twin Vee reported Q3 net sales of $2,901,318 and a basic loss per share of $(0.26). Revenue fell sharply versus prior-year quarter ($8,076,545) and the company recorded a gross loss of $145,657 and an operating loss of…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.