Twin Vee PowerCats Q1 Revenues Up 10% YoY; Net Loss Widens to $2.09M
Twin Vee PowerCats’ Q1 2026 revenues rose 10% year-over-year and 31% from the prior quarter, marking four consecutive quarters of growth as cash and equivalents climbed over $4 million. Net loss widened to $2.09 million; a 1-for-37 reverse split aims to meet Nasdaq requirements while relaunching Bahama Boat Works.
1. Financial Results
Twin Vee PowerCats reported a 10% increase in Q1 2026 revenues versus Q1 2025 and a 31% gain over Q4 2025, marking four straight quarters of growth. The company posted a net loss of $2.09 million and an adjusted EBITDA loss of $776,000, an 11% improvement year-over-year.
2. Cash Position and Equity Offering
Cash and cash equivalents rose by over $4 million compared to Q4 2025, primarily from equity offerings intended to support growth initiatives, product launches and working capital needs.
3. Product Line Expansion
The company relaunched the Bahama Boat Works brand at the Palm Beach International Boat Show, introducing new 21-foot and 23-foot models alongside its existing 35-, 37- and 41-foot vessels, and delivered the first Bahama 35 built in its Fort Pierce factory.
4. Nasdaq Compliance Measure
To address a Nasdaq minimum bid price deficiency, the company effected a 1-for-37 reverse stock split on May 4, 2026, though there is no guarantee it will regain or maintain compliance with listing requirements.