Twin Vee PowerCats Co. Reports Second Quarter 2024 Results of Operations
Twin Vee PowerCats Co. (NASDAQ:VEEE) reported its Q2 2024 results, revealing significant challenges in the recreational marine industry. The company experienced a 47% decrease in revenue to $4,327,000, down from $8,125,000 in the previous year. This decline was attributed to higher interest rates and slowing economic demand for recreational vehicles.
The company reported a consolidated net loss of $4,519,000 for Q2, which includes Twin Vee's net loss of $1,681,000 and Forza X1's net loss of $2,832,000. Despite these challenges, Twin Vee maintained a strong financial position with consolidated holdings of cash, cash equivalents, restricted cash, and marketable securities totaling $15,134,000 at the end of Q2.
To mitigate the impact of slowing demand, Twin Vee implemented proactive measures including lowering production numbers, tightening financial controls, and reducing workforce. The company is also investing in new models, expanding its manufacturing facility, and enhancing vertical integration to prepare for future market upswings.
Twin Vee PowerCats Co. (NASDAQ:VEEE) ha riportato i risultati del secondo trimestre del 2024, rivelando sfide significative nell'industria nautica ricreativa. L'azienda ha registrato una riduzione del 47% dei ricavi, scendendo a $4,327,000, rispetto a $8,125,000 dell'anno precedente. Questa diminuzione è stata attribuita a tassi di interesse più elevati e a una domanda economica in rallentamento per i veicoli ricreativi.
L'azienda ha riportato una perdita netta consolidata di $4,519,000 per il secondo trimestre, che include una perdita netta di $1,681,000 per Twin Vee e una perdita netta di $2,832,000 per Forza X1. Nonostante queste sfide, Twin Vee ha mantenuto una posizione finanziaria solida, con attività consolidate di liquidità, disponibilità liquide, liquidità vincolata e titoli facilmente realizzabili pari a $15,134,000 alla fine del secondo trimestre.
Per mitigare l'impatto di una domanda in rallentamento, Twin Vee ha attuato misure proattive, tra cui una riduzione dei numeri di produzione, un inasprimento dei controlli finanziari e una riduzione della forza lavoro. L'azienda sta anche investendo in nuovi modelli, ampliando la propria struttura di produzione e migliorando l'integrazione verticale per prepararsi a future riprese di mercato.
Twin Vee PowerCats Co. (NASDAQ:VEEE) reportó sus resultados del segundo trimestre de 2024, revelando desafíos significativos en la industria marina recreativa. La compañía experimentó una disminución del 47% en los ingresos a $4,327,000, bajando de $8,125,000 en el año anterior. Esta disminución se atribuyó a tasas de interés más altas y una disminución en la demanda económica de vehículos recreativos.
La compañía reportó una pérdida neta consolidada de $4,519,000 para el segundo trimestre, que incluye una pérdida neta de $1,681,000 de Twin Vee y una pérdida neta de $2,832,000 de Forza X1. A pesar de estos desafíos, Twin Vee mantuvo una sólida posición financiera con tenencias consolidadas de efectivo, equivalentes de efectivo, efectivo restringido y valores negociables por un total de $15,134,000 al final del segundo trimestre.
Para mitigar el impacto de la disminución de la demanda, Twin Vee implementó medidas proactivas, incluyendo reducción de los números de producción, ajustes en los controles financieros y reducción de la plantilla. La compañía también está invirtiendo en nuevos modelos, expandiendo su instalación de fabricación y mejorando la integración vertical para prepararse para futuros repuntes del mercado.
Twin Vee PowerCats Co. (NASDAQ:VEEE)는 2024년 2분기 결과를 발표하며 레크리에이션 해양 산업에서의 중요한 도전 과제를 밝혔습니다. 회사는 수익이 47% 감소하여 4,327,000달러에 이르렀으며, 이는 지난해의 8,125,000달러에서 감소한 수치입니다. 이러한 감소는 높은 이자율과 레크리에이션 차량에 대한 경제적 수요 감소에 기인했습니다.
회사는 2분기 동안 4,519,000달러의 통합 순손실을 보고했으며, 여기에는 Twin Vee의 순손실 1,681,000달러와 Forza X1의 순손실 2,832,000달러가 포함됩니다. 이러한 도전 과제에도 불구하고 Twin Vee는 현금, 현금성 자산, 제한된 현금 및 시장성 유가증권 총 15,134,000달러의 통합 보유액을 2분기 말 기준으로 유지했습니다.
수요 감소의 영향을 완화하기 위해 Twin Vee는 생산 수치 감소, 재무 통제 강화, 인력 감소 등의 선제적 조치를 시행했습니다. 또한, 회사는 새로운 모델에 투자하고, 제조 시설을 확장하며, 수직적 통합을 강화하여 미래의 시장 회복에 대비하고 있습니다.
Twin Vee PowerCats Co. (NASDAQ:VEEE) a annoncé ses résultats du deuxième trimestre 2024, révélant des défis significatifs dans l'industrie marine de loisir. L'entreprise a connu une diminution de 47% de son chiffre d'affaires, passant à 4 327 000 $, contre 8 125 000 $ l'année précédente. Ce déclin a été attribué à des taux d'intérêt plus élevés et une demande économique en ralentissement pour les véhicules de loisirs.
L'entreprise a déclaré une perte nette consolidée de 4 519 000 $ pour le deuxième trimestre, comprenant une perte nette de 1 681 000 $ pour Twin Vee et une perte nette de 2 832 000 $ pour Forza X1. Malgré ces défis, Twin Vee a maintenu une solide position financière avec des avoirs consolidés en espèces, équivalents de liquidités, en espèces restreintes et titres négociables totalisant 15 134 000 $ à la fin du deuxième trimestre.
Pour atténuer l'impact d'une demande en ralentissement, Twin Vee a mis en œuvre des mesures proactives, notamment une réduction des chiffres de production, un durcissement des contrôles financiers et une réduction de la main-d'œuvre. L'entreprise investit également dans de nouveaux modèles, élargit son site de fabrication et améliore son intégration verticale pour se préparer à de futures reprises du marché.
Twin Vee PowerCats Co. (NASDAQ:VEEE) hat die Ergebnisse für das zweite Quartal 2024 veröffentlicht und erhebliche Herausforderungen in der Freizeitbootindustrie aufgezeigt. Das Unternehmen verzeichnete einen Rückgang der Einnahmen um 47% auf 4.327.000 USD, ein Rückgang von 8.125.000 USD im Vorjahr. Dieser Rückgang wurde auf höhere Zinssätze und eine nachlassende wirtschaftliche Nachfrage nach Freizeitfahrzeugen zurückgeführt.
Das Unternehmen meldete einen konsolidierten Nettoverlust von 4.519.000 USD für das zweite Quartal, der den Nettoverlust von 1.681.000 USD von Twin Vee und den Nettoverlust von 2.832.000 USD von Forza X1 umfasst. Trotz dieser Herausforderungen behielt Twin Vee eine starke Finanzlage mit konsolidierten Beständen an Bargeld, Bargeldäquivalenten, eingeschränktem Bargeld und handelbaren Wertpapieren in Höhe von insgesamt 15.134.000 USD zum Ende des zweiten Quartals bei.
Um die Auswirkungen der nachlassenden Nachfrage zu mindern, ergriff Twin Vee proaktive Maßnahmen, darunter Produktionseinschnitte, strengere finanzielle Kontrollen und Personalabbau. Das Unternehmen investiert auch in neue Modelle, erweitert seine Produktionsstätte und verbessert die vertikale Integration, um sich auf zukünftige Markterholungen vorzubereiten.
- Strong cash position with $15,134,000 in consolidated holdings of cash, cash equivalents, restricted cash, and marketable securities
- Proactive measures implemented to mitigate slowing demand challenges
- Investments in new models, manufacturing facility expansion, and vertical integration for future growth
- 47% decrease in revenue to $4,327,000 compared to $8,125,000 in the previous year
- Consolidated net loss of $4,519,000 for Q2 2024
- Decline in demand due to higher interest rates and slowing economic conditions
- Asset impairment charge of $1,674,000 for Forza X1's partially completed building
Insights
Twin Vee's Q2 2024 results paint a challenging picture for the company. The
The company's cash position, while still substantial at
Positively, management's proactive cost-cutting measures and focus on efficiency improvements could help weather the downturn. The investments in new models and manufacturing capabilities may position Twin Vee well for a future market rebound, but they also increase near-term cash burn.
The recreational marine industry is facing significant headwinds, primarily due to high interest rates dampening consumer demand. This broader trend is clearly impacting Twin Vee, as evidenced by their sharp revenue decline.
The company's strategy to right-size operations while investing in future capabilities is a delicate balancing act. The focus on vertical integration, such as adding CNC machining capabilities, could provide a competitive edge when the market recovers. However, the effectiveness of these investments depends on the duration of the current downturn.
Twin Vee's product diversification with the Forza electric boat segment could be a long-term positive, but it's currently a significant drag on financials. The market's appetite for electric boats remains uncertain, making this a high-risk, high-reward venture in the current economic climate.
Twin Vee's investment in technology and manufacturing capabilities, particularly the addition of state-of-the-art CNC machining, is a strategic move. This vertical integration can potentially improve quality control, reduce outsourcing costs and increase flexibility in product development.
The company's commitment to new product development, despite financial pressures, could be important for future competitiveness. However, the
The balance between investing in future technologies and managing cash burn will be critical. The success of these tech investments hinges on market recovery timing and the company's ability to capitalize on efficiency gains in the interim.
FORT PIERCE, FL / ACCESSWIRE / August 14, 2024 / Twin Vee PowerCats Co. (NASDAQ:VEEE) ("Twin Vee" or the "Company"), manufactures Twin Vee PowerCats and AquaSport boats knows as offshore, family-friendly fishing boats from its factory in Fort Pierce, Florida today reported operational highlights and financial results for three months ended June 30, 2024.
Highlights for three months ended June 30, 2024: (Unless otherwise noted, all comparisons are to the three months ended June 30, 2023, "Q1" refers to the three months ended March 31, 2024, "Q2" refers to the three months ended June 30, 2024, "Twin Vee" refers to the gas-powered segment, "Forza" refers to the electric boat and development segment, and "consolidated" refers to the consolidated results of Twin Vee PowerCats Co.)
Twin Vee experienced a decline in demand for its products due to higher interest rates and slowing economic demand for recreational vehicles
Proactive measures were taken to mitigate slowing demand challenges, including lowering production numbers, tightened financial controls, and a reduction in workforce.
Revenue for Q2 decreased by
47% to$4,327,000 from$8,125,000 in the previous year.Twin Vee reported a minimal reduction in cash of
$132,000 b efore capital purchases of$351,000 in Q2.Consolidated holdings of cash, cash equivalents, restricted cash, and marketable securities totaled
$15,134,000 at the end of Q2 as compared to$17,381,000 at the end of Q1.Twin Vee reported
$6,945,000 in cash, cash equivalents, restricted cash, at the end of Q2, down$483,000 from$7,428,000 at the end of Q1.Forza's cash and cash equivalents were
$8,189,000 at the end of Q2 compared to$9,950,000 at the end of Q1.Consolidated net loss for Q2 was
$4,519,000 , which includes Twin Vee's Q2 net loss of$1,681,000 and Forza X1's Q2 net loss of$2,832,000. The decrease in cash reserves was primarily due to the Forza building additions, funds allocated by Twin Vee for new product development and building expansion as well as operational cash losses from reduced revenue in the second quarter of 2024, partially offset by favorable working capital management.
At June 30, 2024;
Consolidated total assets were
$33,753,000. Forza's total assets were
$13,157,000. Twin Vee's total assets were
$20,596,000.
Forza reduced cash burn during Q2 through lower SG&A, including salaries, wages, and R&D spending to less than
$150,000 a month.Asset impairment charge of
$1,674,000.
"The recreational marine industry has continued to be challenged by declining customer demand partially a result of the stubbornly high-interest rate environment," explained Joseph Visconti, Chief Executive Officer of Twin Vee PowerCats Co.
"During the second quarter we again took steps to right-size the labor force while also tightly controlling operating costs. At the same time, we are using this slower period to lay the groundwork for the next market upswing. Twin Vee is investing in new models and expanding our Fort Pierce, FL manufacturing facility to increase production capacity and create a more efficient factory layout. We are also investing in vertical integration and efficiency by adding a state-of-the-art CNC machine into our manufacturing process. This will save on costs associated with outsourcing and enhance the quality of the boat molds we use to build our products. We are committed to reducing cash burn while making smart investments in infrastructure, product development, and other revenue generating opportunities for the Company."
Twin Vee reported a
Forza X1, Inc. (NASDAQ:FRZA), the electric boat and development subsidiary in which Twin Vee has a
The consolidated net loss attributed to stockholders of Twin Vee was
Conference Call
Joseph Visconti, Chief Executive Officer and Michael P. Dickerson, Chief Financial & Administrative Officer, will hold a conference call today, Wednesday August 14, 2024, at 4:00 p.m. (Eastern). To listen to the conference call, interested parties should dial-in 1-877-407-3982 and use Conference ID 13747918. All callers should dial in approximately 10 minutes prior to the scheduled start time and ask to join the Twin Vee conference call.
The conference call will also be available through a live audio webcast that can be accessed at the LINK HERE.
The Company's complete financial statements are being filed today with the Securities and Exchange Commission and can be accessed via https://ir.twinvee.com/sec-filings.
About Twin Vee PowerCats Co.
Twin Vee PowerCats Co. manufactures Twin Vee and AquaSport branded boats designed for activities including fishing, cruising, and recreational use. Twin Vee PowerCats are recognized for their stable, fuel-efficient, and smooth-riding catamaran hull designs. Twin Vee is one of the most recognizable brand names in the catamaran sport boat category and is known as the "Best Riding Boats on the Water™." The Company is located in Fort Pierce, Florida, and has been building and selling boats for nearly 30 years. Learn more at twinvee.com.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements and include statements regarding taking steps to right-size the Company's labor force while tightly controlling operating costs, using this slower period to lay the groundwork for the next market upswing, expanding the Fort Pierce, FL manufacturing facility to increase production capacity and create a more efficient factory layout, adding a state-of-the-art CNC to bring the tooling of brand-new boat models in house, saving costs associated with outsourcing and enhancing the quality of the boat molds the Company uses to build its products and reducing cash burn while making smart investments in infrastructure, product development and other revenue generating opportunities. These forward-looking statements are based on management's expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict, that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to lay the groundwork for the next market upswing and reduce cash burn while continuing to invest in infrastructure, product development and other revenue generating investments, and the risk factors described in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and the Company's subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events, except as required by law.
CONTACT:
Glenn Sonoda
investor@twinvee.com
(Tables Follow)
| June 30, |
|
| December 31, |
|
|
|
|
|
|
| |||||
| 2024 |
|
| 2023 |
|
| $ Change |
|
| % Change |
| |||||
Cash and cash equivalents |
| $ | 13,927,460 |
|
| $ | 16,497,703 |
|
| $ | (2,570,243 | ) |
|
| (15.6 | %) |
Restricted cash |
| $ | 210,876 |
|
| $ | 257,530 |
|
| $ | (46,654 | ) |
|
| (18.1 | %) |
Current assets |
| $ | 19,582,107 |
|
| $ | 26,646,318 |
|
| $ | (7,064,211 | ) |
|
| (26.5 | %) |
Current liabilities |
| $ | 4,560,560 |
|
| $ | 4,216,345 |
|
| $ | 344,215 |
|
|
| 8.2 | % |
Working capital |
| $ | 15,021,548 |
|
| $ | 22,429,973 |
|
| $ | (7,408,425 | ) |
|
| (33.0 | %) |
|
|
|
|
|
|
|
|
| ||||||||
| 2024 |
|
| 2023 |
|
| $ Change |
|
| % Change |
| |||||
Net sales |
| $ | 4,326,821 |
|
| $ | 8,124,632 |
|
| $ | (3,797,811 | ) |
|
| (47 | %) |
Cost of products sold |
| $ | 4,124,481 |
|
| $ | 7,188,917 |
|
| $ | (3,064,436 | ) |
|
| (43 | %) |
Gross profit |
| $ | 202,340 |
|
| $ | 935,715 |
|
| $ | (733,375 | ) |
|
| (78 | %) |
Operating expenses |
| $ | 4,861,416 |
|
| $ | 3,979,942 |
|
| $ | 881,474 |
|
|
| 22 | % |
Loss from operations |
| $ | (4,659,076 | ) |
| $ | (3,044,227 | ) |
| $ | (1,614,849 | ) |
|
| 53 | % |
Other income |
| $ | (139,880 | ) |
| $ | (1,140,484 | ) |
| $ | 1,000,605 |
|
|
| (88 | %) |
Net loss |
| $ | (4,519,196 | ) |
| $ | (1,903,743 | ) |
| $ | (2,615,453 | ) |
|
| 137 | % |
| Six Months Ended June 30, |
|
|
|
|
|
|
| ||||||||
| 2024 |
|
| 2023 |
|
| $ Change |
|
| % Change |
| |||||
Net sales |
| $ | 9,603,164 |
|
| $ | 17,001,847 |
|
| $ | (7,398,683 | ) |
|
| (44 | %) |
Cost of products sold |
| $ | 9,123,511 |
|
| $ | 14,456,574 |
|
| $ | (5,333,063 | ) |
|
| (37 | %) |
Gross profit |
| $ | 479,653 |
|
| $ | 2,545,273 |
|
| $ | (2,065,620 | ) |
|
| (81 | %) |
Operating expenses |
| $ | 7,681,934 |
|
| $ | 7,959,023 |
|
| $ | (277,089 | ) |
|
| (3 | %) |
Loss from operations |
| $ | (7,202,281 | ) |
| $ | (5,413,750 | ) |
| $ | (1,788,531 | ) |
|
| 33 | % |
Other income |
| $ | 347,891 |
|
| $ | 1,681,542 |
|
| $ | (1,333,651 | ) |
|
| (79 | %) |
Net loss |
| $ | (6,854,390 | ) |
| $ | (3,732,208 | ) |
| $ | (3,122,182 | ) |
|
| 84 | % |
| Six Months Ended June 30, |
|
|
|
|
|
|
| ||||||||
|
|
|
|
|
|
|
|
| ||||||||
| 2024 |
|
| 2023 |
|
| $ Change |
|
| % Change |
| |||||
Cash used in operating activities |
| $ | (2,232,013 | ) |
| $ | (3,430,097 | ) |
| $ | 1,198,084 |
|
|
| 35 | % |
Cash provided by (used in) investing activities |
| $ | (247,855 | ) |
| $ | (655,669 | ) |
| $ | (407,814 | ) |
|
| (62 | %) |
Cash provided by (used in) financing activities |
| $ | (137,029 | ) |
| $ | 6,921,886 |
|
| $ | (7,058,915 | ) |
|
| (102 | %) |
Net Change in Cash |
| $ | (2,616,896 | ) |
| $ | 2,836,120 |
|
| $ | (5,453,016 | ) |
|
| (192 | %) |
The following table shows information by reportable segments for three months ended March 31, 2024 and 2023, respectively:
Non-GAAP Financial Measures
We have presented a supplemental non-GAAP financial measure in this earnings release. We believe that this supplemental information is useful to investors because it allows for an evaluation of the company with a focus on the performance of its core operations, including more meaningful comparisons of financial results to historical periods. Adjusted Net Loss is a non-GAAP financial measure which excludes certain non-cash expenses. Our executive management team uses these same non-GAAP measures internally to assess the ongoing performance of the Company. Adjusted Net (Loss) is not intended to be a substitute for any GAAP financial measures, and, as calculated, may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry.
For the Three Months Ended June 30, 2024 |
|
|
|
|
|
|
|
|
|
|
|
| ||||
| Gas-Powered Boats |
| Franchise |
|
| Electric Boat and Development |
|
|
| Total |
| |||||
Net sales |
| $ | 4,326,821 |
|
| $ | - |
|
| $ | - |
|
| $ | 4,326,821 |
|
Cost of products sold |
|
| 4,097,640 |
|
|
| - |
|
|
| 26,841 |
|
|
| 4,124,481 |
|
Operating expense |
|
| 1,943,927 |
|
|
| 927 |
|
|
| 2,916,563 |
|
|
| 4,861,416 |
|
Loss from operations |
|
| (1,714,746 | ) |
|
| (927 | ) |
|
| (2,943,404 | ) |
|
| (4,659,076 | ) |
Other income (expense) |
|
| 22,733 |
|
|
| 5,297 |
|
|
| 111,850 |
|
|
| 139,880 |
|
Net loss |
| $ | (1,681,419 | ) |
| $ | (6,224 | ) |
| $ | (2,831,554 | ) |
| $ | (4,519,196 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
For the Three Months Ended June 30, 2023 |
|
|
|
|
|
|
|
|
|
|
|
| ||||
| Gas-Powered Boats |
| Franchise |
|
|
| Electric Boat and Development |
|
|
| Total |
| ||||
Net sales |
| $ | 8,124,632 |
|
| $ | - |
|
| $ | - |
|
| $ | 8,124,632 |
|
Cost of products sold |
|
| 7,148,121 |
|
|
| - |
|
|
| 40,796 |
|
|
| 7,188,917 |
|
Operating expense |
|
| 2,400,942 |
|
|
| 278 |
|
|
| 1,578,722 |
|
|
| 3,979,942 |
|
Loss from operations |
|
| (1,424,431 | ) |
|
| (278 | ) |
|
| (1,619,518 | ) |
|
| (3,044,227 | ) |
Other income (expense) |
|
| 1,008,741 |
|
|
| (4,122 | ) |
|
| 135,865 |
|
|
| 1,140,484 |
|
Net loss |
| $ | (415,690 | ) |
| $ | (4,400 | ) |
| $ | (1,483,653 | ) |
| $ | (1,903,743 | ) |
Below is a reconciliation of Adjusted Net loss to GAAP net loss for the three months ended June 30, 2024 and 2023, respectively:
| Gas-Powered Boats |
|
| Franchise |
|
| Electric Boat and Development |
| ||||||||||||||||
| 2024 |
|
| 2023 |
|
| 2024 |
|
| 2023 |
|
| 2024 |
|
| 2023 |
| |||||||
Net loss |
| $ | (1,681,419 | ) |
| $ | (415,690 | ) |
| $ | (6,224 | ) |
| $ | (4,400 | ) |
| $ | (2,831,554 | ) |
| $ | (1,483,653 | ) |
Stock based compensation |
|
| 133,928 |
|
|
| 148,198 |
|
|
| - |
|
|
| - |
|
|
| 183,815 |
|
|
| 341,163 |
|
Impairment of property & equipment |
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| 1,674,000 |
|
|
| - |
|
Depreciation and amortization |
|
| 371,151 |
|
|
| 236,332 |
|
|
| - |
|
|
| - |
|
|
| 63,807 |
|
|
| 48,230 |
|
Change in inventory reserve |
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
|
| 175,820 |
|
|
| - |
|
Government grant income |
|
| - |
|
|
| (937,482 | ) |
|
| - |
|
|
| - |
|
|
| - |
|
|
| - |
|
Adjusted net income (loss) |
| $ | (1,176,340 | ) |
| $ | (968,642 | ) |
| $ | (6,224 | ) |
| $ | (4,400 | ) |
| $ | (734,112 | ) |
| $ | (1,094,260 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
SOURCE: Twin Vee PowerCats Co.
View the original press release on accesswire.com
FAQ
What was Twin Vee PowerCats Co.'s (VEEE) revenue for Q2 2024?
How much was Twin Vee PowerCats Co.'s (VEEE) net loss for Q2 2024?
What measures did Twin Vee PowerCats Co. (VEEE) take to address slowing demand in Q2 2024?
What was Twin Vee PowerCats Co.'s (VEEE) cash position at the end of Q2 2024?
