Twin Vee PowerCats, Co. VEEE
"us" or the "Company") is a designer, manufacturer and marketer of recreational and commercial power boats. We
believe our company, founded in 1996, has been an innovator in the recreational and commercial power catamaran industry. Our twin-hull
catamaran running surface, known as a symmetrical catamaran hull design, adds to the Twin Vee ride quality by reducing drag, increasing
fuel efficiency and offering users a stable riding boat. Twin Vee's home base of operations in Fort Pierce, Florida is a 7.5-acre
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $14.8M | $14.4M | $33.4M | $32.0M | $15.8M | $11.1M | — |
| Cost of revenue | $13.6M | $15.1M | $30.2M | $21.3M | $9.5M | $6.3M | — |
| Gross profit | $1.3M | -$751.4K | $3.3M | $10.7M | $6.3M | $4.8M | — |
| R&D | — | $586.4K | $1.4M | $941.5K | $211.1K | $0 | — |
| SG&A | $2.5M | $3.1M | $3.7M | $2.8M | $1.7M | $872.7K | — |
| Total operating expenses | $10.0M | $13.8M | $15.3M | $16.7M | $7.9M | $4.1M | — |
| Operating income | -$8.8M | -$14.6M | -$12.0M | -$6.0M | -$1.6M | $720.8K | — |
| Interest expense | $81.2K | $222.6K | $221.2K | $164.2K | $136.7K | $178.6K | — |
| Pre-tax income | — | — | — | — | -$1.0M | $1.2M | — |
| Income tax | — | — | — | — | $0 | $0 | — |
| Net income | -$8.6M | -$11.0M | -$7.2M | -$5.1M | -$1.0M | $1.2M | — |
| EPS, basic | -4.37 | -11.01 | -0.76 | -0.67 | -0.19 | 0.29 | — |
| EPS, diluted | -4.37 | -11.01 | -0.76 | -0.67 | -0.19 | 0.29 | — |
| Shares, diluted (wtd. avg.) | $2.0M | $1.0M | $9.5M | $7.6M | $5.3M | $4.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.4M | $7.5M | $16.8M | $23.5M | $7.0M | $891.8K | $215.6K |
| Short-term investments | — | — | $4.5M | $1.5M | $3.0M | — | — |
| Receivables | — | — | $80.2K | $14.2K | $5.1K | — | — |
| Inventory | $2.5M | $2.5M | $4.9M | $4.0M | $1.8M | $936.7K | — |
| Total current assets | $4.9M | $10.4M | $26.6M | $29.9M | $13.1M | $1.8M | — |
| Property, plant and equipment | $8.3M | $15.0M | $12.3M | $5.5M | $2.9M | $1.4M | — |
| Total assets | $16.2M | $25.9M | $39.8M | $38.2M | $20.6M | $4.5M | — |
| Accounts payable | $1.1M | $2.2M | $2.4M | $2.1M | $1.2M | $799.3K | — |
| Total current liabilities | $2.2M | $3.7M | $4.2M | $3.8M | $2.2M | $1.4M | — |
| Long-term debt | $499.9K | $499.9K | $499.9K | $499.9K | $499.9K | — | — |
| Total liabilities | $2.8M | $6.7M | $7.8M | $5.2M | $3.9M | $3.0M | — |
| Retained earnings | -$34.0M | -$25.4M | -$14.3M | -$7.2M | -$2.0M | -$1.0M | — |
| Total equity | $13.5M | $19.2M | $32.0M | $33.0M | $16.7M | $1.5M | $115.6K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$6.9M | -$7.0M | -$6.9M | -$4.1M | -$1.9M | $364.6K | — |
| Depreciation and amortisation | $1.7M | $1.7M | $1.4M | $553.8K | $198.5K | $155.7K | — |
| Stock-based compensation | $303.1K | $1.2M | $1.9M | $1.4M | $309.8K | — | — |
| Capital expenditure | $2.2M | $6.3M | $5.2M | $3.4M | $1.9M | $525.2K | — |
| Investing cash flow | -$1.6M | -$1.9M | -$6.6M | -$195.6K | -$8.0M | -$200.5K | — |
| Financing cash flow | $2.4M | -$213.7K | $6.8M | $20.9M | $16.1M | $512.0K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001731122-26-000317.
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