Twin Vee PowerCats' Q1 net loss widens

Twin Vee PowerCats Co (Pre-Reincorporation)

07/05/2026 13:09

Overview

U.S. power sport boat maker's Q1 revenue rose yr/yr, fourth straight quarter of growth

Net loss widened to $2.09 mln, while adjusted EBITDA loss improved 11% yr/yr

Outlook

Company says it remains focused on strict cost management and optimized working capital

Twin Vee says it is making continued progress towards profitability

Result Drivers

PRODUCT LINE EXPANSION - Co said revenue growth was driven by the relaunch of Bahama Boat Works and introduction of new 21-foot and 23-foot models

REDUCED MARGINS - Co said gross profit fell due to sales incentives to reduce dealer inventory, reserves for inventory on hand related to a previously held licensed brand, and product development costs for the expanded Bahama Boat lineup

NON-CASH AND ONE-TIME ITEMS - Q1 results included about $1.3 mln of non-cash and one-time items related to inventory adjustments, new product development, and field inventory management

Company press release: ID:nACS2Bxd3a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
-$2.09 mln


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)