Twin Vee Powercats Co Stock Price, News & Analysis

Twin Vee PowerCats Co. (NASDAQ:VEEE), a manufacturer of power sport boats, has announced plans for an underwritten public offering of common stock. The company intends to use the proceeds for working capital and general corporate purposes. ThinkEquity will serve as the sole book-running manager for the offering, which will be conducted under a shelf registration statement filed with the SEC in August 2022.

Twin Vee, known as the "Best Riding Boats on the Water™," has been building and selling boats for 30 years from their Fort Pierce, Florida location. The company specializes in catamaran hull designs recognized for stability and efficiency. The completion, size, and terms of the offering remain subject to market conditions.

Twin Vee PowerCats (NASDAQ:VEEE) reported strong Q1 2025 financial results, showcasing significant growth. The company achieved revenues of $3.6 million, representing a 91.7% increase from Q4 2024, surpassing their 50% guidance. Gross margin improved to 14.9%, up 961 basis points year-over-year. The adjusted net loss averaged $333,000 per month, beating the guided $400,000 monthly loss by 17%. The power sport boat manufacturer expanded its dealer network, enhancing brand presence and geographic reach. Management expects continued sequential revenue growth in Q2 2025 as market conditions improve and consumer demand rebounds. The company emphasized its focus on responsible scaling, balancing production increases with expense control and working capital discipline.

Twin Vee PowerCats, a manufacturer and distributor of power sport boats, has successfully regained compliance with Nasdaq's minimum bid price requirement. The company received official notification from Nasdaq's Listings Qualifications Department on April 28, 2025.

The compliance was achieved after the company's common stock maintained a closing bid price of $1.00 or higher for 13 consecutive business days, from April 8 through April 25, 2025. This development confirms Twin Vee's continued listing on the Nasdaq Capital Market under Listing Rule 5550(a)(2).

CEO and President Joseph Visconti expressed satisfaction with resolving the Nasdaq listing matter, emphasizing that maintaining their Nasdaq listing was a priority. The company can now focus entirely on executing its business strategy and creating long-term value for investors.

Twin Vee PowerCats (Nasdaq: VEEE) announced updates on the development of BoatsForSale.com, their digital marketplace for boat sales. The platform is undergoing final migration to Microsoft Azure and AI Foundry tools, with completion expected by May 1, 2025.

The platform aims to revolutionize boat sales by offering dealers a cost-effective alternative to existing platforms like Boat Trader. Key features include advanced inventory management tools, dynamic dealer dashboards, real-time analytics, and integrated marine valuation tools (Wizz Banger™).

Under CIO Tom Huffman's leadership, the platform focuses on connecting buyers and sellers through improved listing and search processes. CEO Joseph Visconti reports positive feedback from early dealer onboarding, positioning BoatsForSale.com as a dealer-friendly alternative amid industry frustration with rising costs from legacy platforms.

Twin Vee PowerCats Co. (NASDAQ:VEEE) has announced a 1-for-10 reverse stock split effective April 7, 2025. The company's common stock will begin trading on a split-adjusted basis on the Nasdaq Capital Market on April 8, 2025, maintaining its 'VEEE' ticker symbol.

The split will reduce outstanding shares from approximately 14,874,452 to 1,487,445. The primary objective is to raise the per-share trading price to maintain Nasdaq Capital Market listing compliance, which requires a minimum bid price of $1.00 per share. The authorized shares will remain at 50,000,000 with a par value of $0.001 per share.

Stockholders will receive one new share for every 10 shares held, with cash payments issued for fractional shares based on the average closing price over the ten days preceding the split. The new CUSIP number will be 90177C200.

Twin Vee PowerCats Co. (NASDAQ:VEEE) reported its fiscal year 2024 results, marking a challenging period with significant revenue decline. The company's revenue decreased 57% to $14.39 million compared to $33.43 million in 2023, with Q4 reaching a multi-year low of $1.9 million.

Key financial metrics include an adjusted net loss of $7.7 million in 2024, cash and equivalents of $7.71 million, and total assets of $25.89 million as of December 31, 2024. The company completed the merger of Forza X1 on November 26, 2024, and expanded its facility to 100,000 sq. ft.

For 2025, Twin Vee projects over 50% sequential revenue growth in Q1, has added six new dealer locations, and plans to launch several new models, including the 22-foot BayCat. Management expresses cautious optimism about market recovery, citing renewed interest in both Twin Vee and Aquasport product lines.

Twin Vee PowerCats Co. (NASDAQ: VEEE), a manufacturer, distributor, and marketer of power sport boats, has announced it will host a conference call and audio webcast to discuss its Year End 2024 Financial Results on Thursday, March 20, 2025, at 12:00 p.m. Eastern Time.

The company will release its financial results via press release prior to the call. Investors can participate through:

• Toll-Free: 1-877-407-3982
• International: 1-201-493-6780
• Conference ID: 13752216

An audio webcast will be available through the Investor Relations section of Twin Vee's website, with a recording accessible for at least 90 days following the call.

Twin Vee PowerCats (Nasdaq: VEEE) has announced the addition of six new dealers in its first phase of dealer network expansion, strengthening its market presence. The new locations include dealerships in New Jersey, Massachusetts, Florida, and New York.

The company reports its dealer field inventory is at an 18-month low with approximately 60 boats in the field, down from over 160 units annually in the previous year. Twin Vee expects boat deliveries to increase by more than 50% in Q1 2025 compared to Q4 2024, marking their first sequential revenue increase in recent periods.

The company is already working on a second wave of dealer partnerships to further expand its reach in the recreational boating market.