VEEE earnings analysis
What we found in VEEE's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth
- Revenue increased by 10% to $3,964,706 from $3,612,291 YoY.
- EPS Improvement
- Reported EPS improved to -$12.93 from -$40.05 YoY, a 68% improvement.
- Cash Position Strengthened
- Cash and cash equivalents rose to $5,456,639, up 281.2% from $1,431,578.
- Equity Offerings Completed
- Raised approximately $5,800,025 in net proceeds from three equity offerings.
- Working Capital Surge
- Working capital increased by 140% to $6,365,300 compared to $2,652,704 at the end of 2025.
- Operating Income Improved Slightly
- Net loss narrowed to $2,094,278 from $1,610,240; however, operational losses remain significant.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- High Net Loss
- Net loss increased by 30% compared to Q1 2025, reaching $2,094,278.
- Going Concern Doubts
- Management mentions substantial doubt about continuing as a going concern due to ongoing losses.
- Liquidity Risks
- Increased liability levels, with current liabilities at $3,232,034, rising 44% from the previous year.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-12.93
- Gross margin
- 5.0%
What they said about what is next.
Outlook deferred to future announcements.
The filing reads worse than the one before it.
What came before.
- 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…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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