Twin Vee Powercats Co Stock Price, News & Analysis

Twin Vee PowerCats (Nasdaq:VEEE) reports early signs of demand recovery in 2025 after experiencing its slowest quarter since going public during Q4 2024. The company expects boat deliveries to increase by over 50% in Q1 2025 compared to Q4 2024, marking their first sequential revenue increase in recent periods.

Under new Director of Sales Shawn Erb, Twin Vee is expanding its dealer network and has successfully reduced field inventory by approximately 40% from its peak of 110 units last year. The company attributes the Q4 2024 slowdown to multiple factors, including economic policy changes, election cycle uncertainty, and high interest rates.

Looking ahead, Twin Vee plans to launch a redesigned 22-foot BayCat in Q2 2025 and is developing new customer-centric technologies to improve the boat-buying experience.

Twin Vee PowerCats (Nasdaq: VEEE) announced the upcoming delivery of a state-of-the-art Multiax L Series 5-axis CNC router to enhance its manufacturing capabilities. This investment will enable the company to bring the tooling of high-quality plugs and molds for new boat models in-house.

CEO Joseph C. Visconti highlighted that the advanced robotics will streamline manufacturing processes, create complex curves and shapes impossible with traditional methods, and improve quality control at their Fort Pierce facility. The company expects this addition to accelerate product development while reducing costs by minimizing reliance on external vendors for tooling.

Twin Vee is also exploring additional robotic solutions to enhance various operational stages, from design and production to quality control and finishing, aiming to improve manufacturing efficiency, reduce waste, and enhance worker safety.

Twin Vee PowerCats Co. (Nasdaq:VEEE) has announced plans to accept Bitcoin (BTC) as payment for its Twin Vee and AquaSport power sport boats. The company aims to provide customers with more flexible payment options while potentially attracting tech-savvy and international buyers through cryptocurrency integration.

The company will work with its dealer network to facilitate Bitcoin transactions, offering credits or cash conversions to dealers who may not currently accept cryptocurrency. Twin Vee is currently finalizing the technological infrastructure needed for secure and efficient cryptocurrency transactions, with the first Bitcoin payment expected to be accepted soon.

Twin Vee PowerCats (Nasdaq: VEEE) is attending Dealer Week 2024 at the Orlando Convention Center from December 8th to 11th, focusing on expanding its dealer network across the United States and internationally. The company is showcasing two models at Booth 325: the Twin Vee 280 GFX2 and the AquaSport 280 Superboat.

Led by newly appointed Director of Sales and Dealer Relations Shawn Erb, the company is targeting expansion in key regions including the Eastern Seaboard, Michigan, the Great Lakes, the Ozarks, California, and international markets. Both displayed boats feature fully digital technology, representing the company's next generation of boating innovation.

Twin Vee PowerCats Co. (Nasdaq:VEEE) has appointed Shawn Erb as its new Director of Sales and Dealer Relations. Erb, who previously served as National Sales Manager for Four Winn's Boats, will lead the company's sales operations and manage dealer relationships both domestically and globally. His appointment comes as Twin Vee expands with a 30,000 sq. ft facility expansion to enhance manufacturing capabilities.

Erb brings extensive experience from various roles at companies including BRP, Inc., SHERP of North America, and Harley Davidson Motor Company. He holds an MBA in Human Resource Management and will focus on strengthening dealer networks and supporting Twin Vee's product lines.

Twin Vee PowerCats Co. (NASDAQ:VEEE) reported Q3 2024 results showing significant challenges. Revenue decreased 64% to $2.9 million from $8.1 million in Q3 2023. The company posted a consolidated net loss of $3 million, with Twin Vee's loss at $2.1 million and Forza X1's at $896,000. Cash and equivalents declined to $11.4 million from $15.1 million in Q2. The company implemented cost-cutting measures including workforce reduction and lowered production in response to declining industry demand. Shareholders approved the merger between Twin Vee and Forza X1. The company is investing in facility expansion and new manufacturing equipment while aiming to reduce monthly consolidated adjusted net loss to $400,000 by Q1 2025 exit.

Twin Vee PowerCats (Nasdaq:VEEE) and Forza X1 (OTC:FRZA) shareholders have approved their merger agreement at their respective annual meetings on November 11, 2024. Upon closing, Forza will become a wholly-owned subsidiary of Twin Vee, with the merged company operating under Twin Vee PowerCats Co. name and maintaining the 'VEEE' ticker on NASDAQ. Each Forza shareholder will receive 0.61166627 Twin Vee shares for each Forza share owned as of October 4, 2024, resulting in a maximum issuance of 5,355,000 Twin Vee shares. The company plans to leverage its assets for facility expansion, new boat designs, manufacturing improvements, and development of a web-based Pro-Direct Platform.

Twin Vee PowerCats Co. (Nasdaq: VEEE), a manufacturer of power sport boats, has scheduled its Third Quarter 2024 earnings conference call for Thursday, November 14, 2024, at 12:00 p.m. Eastern Time. The company will release its financial results via press release before the call. The earnings call will be accessible through both a toll-free telephone line and an audio webcast. Participants wishing to join the Q&A session must use the telephone option, as webcast listeners won't be able to submit questions. A recording of the call will be available for at least 90 days through the company's Investor Relations website.

Twin Vee PowerCats Co. (Nasdaq:VEEE) has launched 'CEO Hustle', a new webcast series hosted by CEO Joseph Visconti, providing behind-the-scenes looks at their manufacturing operations. The series showcases production processes, new boat models, and team member interviews. The company also announced a 30,000-square-foot factory expansion in Fort Pierce, Florida, which will increase total facility size to 100,000 square feet with capacity to build up to 1,000 boats annually. Additionally, Twin Vee introduced 'CEO Update', a newsletter delivering company news and updates to owners, investors, and enthusiasts.