Twin Vee Powercats Co.

Twin Vee Powercats Co. reported a net loss of $8.6 million for FY 2025, an improvement of 39% from a $14.0 million loss in FY 2024. Net sales increased 3% to $14.8 million, driven by a 7% increase in units sold to 93 boats, partially offset by a 5% decrease in average selling price. Gross profit improved significantly to $1.3 million (8.5% margin) from a loss of $0.8 million (-5.2% margin) in the prior year, reflecting cost reduction efforts and better utilization of manufacturing capacity. Operating expenses decreased 27% to $10.0 million, primarily due to reduced professional fees, salaries, and the discontinuation of electric boat R&D. The company ended the year with $1.6 million in cash and restricted cash, down from $7.7 million, and raised $2.6 million from a May 2025 equity offering. Management notes substantial doubt about the company's ability to continue as a going concern due to recurring losses and limited liquidity.

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