Twin Vee Powercats Co. ( (VEEE) ) has released its Q1 earnings. Here is a breakdown of the information Twin Vee Powercats Co. presented to its investors.
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Twin Vee PowerCats Co., a prominent manufacturer and distributor of power sport boats, is known for its stable and efficient catamaran hull designs, catering to fishing, cruising, and recreational activities. The company, based in Fort Pierce, Florida, has been a key player in the catamaran sport boat category for 30 years.
In its latest earnings report, Twin Vee PowerCats Co. announced a significant 92% increase in revenues for the first quarter of 2025 compared to the previous quarter, surpassing its guidance of 50%. The company also reported an improvement in gross margins and a reduction in adjusted net loss, indicating a strong start to the year.
Key financial highlights include revenues of $3.6 million, a gross margin improvement of 961 basis points from the previous year, and an adjusted net loss reduction to $333,000 per month. The expansion of the company’s dealer network has been instrumental in enhancing its brand presence and geographic reach, reflecting growing market confidence in Twin Vee.
Looking ahead, Twin Vee PowerCats Co. anticipates continued revenue growth in the second quarter as market conditions improve and consumer demand rebounds. The company remains committed to scaling responsibly, balancing production increases with expense control, and expects a more favorable cash profile moving forward.