Twin Vee Powercats Co. reported third‑quarter 2025 results with net sales of $3.43 million, an 18 % sequential rise from $2.90 million in Q3 2024. The company posted a net loss of $2.76 million, or $(1.23) per share, a significant improvement over the $3.01 million loss ($2.60) reported in the same quarter last year.
Revenue growth was driven by a 20 % increase in dealer‑partner sales and disciplined overhead management. The company expanded its dealer network by adding 12 new outlets, which contributed $0.45 million to sales, while cost‑control initiatives reduced variable manufacturing expenses by 5 %.
Gross loss narrowed to $45,000 from $146,000 in Q3 2024, reflecting tighter cost control and a more favorable product mix. Operating expenses fell 8 % to $2.73 million, driven by a $0.15 million reduction in marketing spend and a $0.10 million decrease in general‑administrative costs. The combined effect of lower expenses and a higher gross margin reduced the net loss by $0.25 million compared with the prior year.
Liquidity improved markedly after the company closed the sale of its Marion, North Carolina property on October 31, 2025. The transaction generated $500,000 in cash at closing and $3.75 million in future payments, for a total consideration of $4.25 million—slightly lower than the $4.31 million figure originally reported. The proceeds are expected to strengthen the balance sheet and provide working‑capital flexibility.
The company also reported progress in integrating the Bahama Boat Works acquisition, completed in June 2025. Integration efforts have expanded Twin Vee’s product portfolio and dealer network, with early indications of increased cross‑selling opportunities and a 10 % lift in dealer‑partner revenue in the quarter.
CEO Joseph Visconti said the quarter demonstrated the effectiveness of the turnaround plan, noting that disciplined overhead and dealer expansion drove the 18 % revenue growth and narrowed losses. CFO Scott Searles highlighted the liquidity boost from the property sale and the ongoing integration of Bahama Boat Works as key pillars for future profitability.
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