SAN DIEGO, Nov. 24, 2025 (GLOBE NEWSWIRE) -- NeoVolta Inc. (NASDAQ: NEOV) (“NeoVolta” or the “Company”), a U.S.-based energy technology company delivering scalable storage for resilient residential and commercial power infrastructure, today announced that it has entered into agreements for a $13 million private placement financing anchored by Infinite Grid Capital (“IGC”), in connection with a long-term relationship to support NeoVolta’s next phase of scalable growth and U.S.-based manufacturing expansion. ...

Core Insights - NeoVolta Inc. reported a revenue of $6.7 million for Q1 2026, reflecting a year-over-year growth of 1,027%, marking the fourth consecutive record-setting quarter [1][2] Financial Highlights - Revenue increased from $590,000 in the prior-year quarter to $6.7 million, driven by expansion into broader U.S. distribution and installer networks [5][9] - Gross margin improved to 24% from 16% in the prior-year quarter, attributed to manufacturing efficiencies and higher production volumes [5][6] - Operating expenses rose to $2.4 million from $1.1 million, primarily due to investments in leadership and infrastructure [9] - Loss from operations decreased to $854,000 from $966,000 in the prior-year quarter, reflecting significant revenue growth [9] - Net loss was $1.2 million, or $(0.04) per share, compared to a net loss of $964,000, or $(0.03) per share, in the prior-year quarter [9][12] Recent Developments - The acquisition of select assets from Neubau Energy was completed on October 15, 2025, enhancing NeoVolta's growth strategy and product offerings [2][5] - The neuClick™ modular battery platform was launched, promising a 30-minute installation time and targeting over 1,000 pre-orders by December 2025 [5][6] - The company secured a long-term lease extension for its Poway, California manufacturing facility through March 2031, ensuring operational stability [5] Market Strategy - NeoVolta's multi-channel growth strategy has led to increased market adoption of distributed energy storage solutions [2] - The company is expanding its installer base and financing channels to improve accessibility and affordability for customers nationwide [5]

Financial Performance - Revenues from contracts with customers for the three months ended September 30, 2025, were $6,650,258, a significant increase from $590,236 in the same period of 2024, representing a growth of approximately 1,025%[17] - Gross profit for the same period was $1,577,252, compared to $92,847 in 2024, indicating a substantial increase in profitability[17] - The net loss for the three months ended September 30, 2025, was $1,243,322, compared to a net loss of $964,494 in the same period of 2024, representing an increase in losses of approximately 29%[17] - Cost of goods sold for the three months ended September 30, 2025, was $5,073,006, compared to $497,389 in 2024, resulting in gross profits of approximately 24% in 2025 versus 16% in 2024[70] - General and administrative expenses increased to $2,374,668 for the three months ended September 30, 2025, from $1,050,119 in 2024, largely due to the hiring of a new CEO and additional personnel[71] - Net cash used in operating activities for the three months ended September 30, 2025, was $2,494,069, up from $593,031 in 2024, reflecting increased operating expenses[75] - Net cash provided by financing activities in the three months ended September 30, 2025, was $2,589,052, compared to zero in 2024, due to short-term borrowings for inventory purchases[76] Assets and Liabilities - Total current assets increased to $8,357,393 as of September 30, 2025, up from $6,664,633 as of June 30, 2025, reflecting a growth of approximately 25.4%[15] - Total liabilities rose to $6,313,803 as of September 30, 2025, compared to $3,895,451 as of June 30, 2025, marking an increase of approximately 62.2%[15] - Total stockholders' equity decreased to $2,133,165 as of September 30, 2025, down from $2,909,722 as of June 30, 2025, indicating a decline of approximately 26.6%[15] - Cash and cash equivalents at the end of the period were $889,819, up from $794,836 at the beginning of the period, indicating a net increase of approximately 12%[22] Stock and Compensation - The company reported stock compensation expense of $466,765 for the three months ended September 30, 2025, compared to $265,399 in the same period of 2024, representing an increase of approximately 76%[23] - The company recognized stock compensation expense of $293,025 for RSUs in the three months ended September 30, 2025, compared to $221,524 in the same period of 2024[51][52] - The company has made total awards of 2,669,219 shares under its 2019 Stock Plan, which was amended to increase the number of shares authorized for issuance by 5,000,000[53] - The company issued Non-Qualified Stock Options for 147,000 shares at an exercise price of $3.60 per share, with a total fair value of approximately $349,500[45] Borrowings and Credit - The company obtained a line of credit for borrowings of up to $5,000,000 with a 16% annual interest rate, maturing on September 3, 2028, and had net borrowings of $633,538 as of September 30, 2025[38] - The company initiated short-term borrowings of $4,199,549 from a commercial accounts receivable lender, with an outstanding balance of $4,142,275 as of September 30, 2025[39] - The company had accrued interest of $48,646 on its line of credit as of September 30, 2025[38] Acquisitions and Agreements - The company closed an Asset Purchase Agreement on October 15, 2025, acquiring assets from Neubau Energy Inc. for approximately $1.5 million, including cash and stock[58] - The company plans to account for the acquisition of Neubau as an acquisition of assets and will assign the total purchase price to the fair value of the assets acquired[58] - The company entered into an Asset Purchase Agreement dated October 1, 2025, with Neubau Energy Inc. and its shareholders[95] - The company commenced plans for a private equity offering, receiving a cash deposit of $800,000 from a potential investor as of September 30, 2025[40] Internal Controls and Legal Proceedings - As of September 30, 2025, the Chief Executive Officer and Chief Financial Officer concluded that the disclosure controls and procedures were not effective due to a material weakness related to the lack of segregation of duties[85] - Management acknowledged that any controls and procedures can only provide reasonable assurance of achieving desired control objectives, considering resource constraints[86] - There were no changes in internal controls over financial reporting during the quarter ended September 30, 2025, that materially affected internal controls[87] - The company is not currently a party to any material legal proceedings and is not aware of any material legal or governmental proceedings against it[89] - There have been no material changes from the risk factors previously disclosed in the Company's Annual Report on Form 10-K for the year ended June 30, 2025[90] Share Issuance and Trading - During the three months ended September 30, 2025, the company issued 78,565 shares of common stock to a distributor under a distribution agreement[91] - The company has not experienced any defaults upon senior securities[92] - No directors or executive officers adopted or terminated any trading arrangements during the period covered by the Quarterly Report[94] Shares Outstanding - The weighted average shares outstanding for the period were 34,193,531, compared to 33,244,061 in the same period of 2024, reflecting an increase of approximately 2.9%[17] - As of September 30, 2025, the company had outstanding warrants for a total of 1,081,150 shares of common stock, exercisable at $4.00 per share until August 1, 2027[43]

Financial Results - NeoVolta, Inc. announced financial results for the fiscal quarter ended September 30, 2025[4] - The press release detailing financial results was issued on October 23, 2025[4] - The report includes a cover page interactive data file embedded within the Inline XBRL document[6] Company Classification - The company is classified as an emerging growth company under the Securities Act[3] Stock Information - Common stock is traded under the symbol NEOV on the NASDAQ Stock Market[3]

Core Insights - NeoVolta Inc. anticipates revenue exceeding $6.5 million for Q1 of fiscal 2026, reflecting a year-over-year increase of over ~1,000% and marking the fourth consecutive record-setting quarter for the company [1][7] Company Performance - The significant revenue growth is attributed to the successful expansion of sales and distribution channels beyond the traditional Southern California market, along with enhanced financing options that improve accessibility to energy storage solutions [2][3] - The company is strengthening its regional distribution network and operational capacity to meet increasing demand, aiding homeowners and businesses in managing electricity costs and ensuring power during outages [3] Future Outlook - NeoVolta plans to release full financial results for the first quarter in November 2025, indicating ongoing transparency and commitment to stakeholder communication [4]

Core Insights - NeoVolta Inc. has successfully acquired strategic assets from Neubau Energy, enhancing its product offerings and revenue potential [1] - The company aims to secure over 1,000 pre-orders for its neuClick™ battery modules by the end of 2025, with shipments set to commence in January 2026 [2][7] - The neuClick™ platform features a modular design that allows for quick installation and scalability, significantly reducing deployment and maintenance costs [3][6] Company Overview - NeoVolta designs and manufactures advanced energy storage systems aimed at promoting energy independence and sustainability for homeowners and businesses [4] - The company's products are compatible with solar systems, ensuring continuous power during outages and maximizing returns on solar investments [4] Product Features - The neuClick™ system integrates battery, inverter, and communications into a compact unit that can be installed by a licensed electrician in under 30 minutes [2][5] - Each module offers scalable capacity ranging from 10 kWh to 15 kWh, with stackable configurations up to 60 kWh for residential and light commercial use [2] - The platform utilizes industry-leading lithium-iron-phosphate (LFP) cells, providing high energy density and enhanced safety [6] Strategic Advantages - The acquisition of Neubau Energy's assets is expected to improve NeoVolta's market reach, gross margins, and domestic content mix, which will help mitigate the impact of anticipated tariffs in 2026 [1][5] - The neuClick™ platform is designed to drive efficiency across the entire value chain, from manufacturing to installation and long-term service [3]

Core Insights - NeoVolta Inc. is rapidly expanding its energy storage business through the acquisition of Neubau Energy's modular battery platform, which is expected to enhance revenue and gross margins immediately after the transaction closes [1][4]. Company Overview - NeoVolta is a leading innovator in energy storage solutions, focusing on sustainable and high-performance systems for residential and commercial applications [9]. - Neubau Energy, founded in 2023, specializes in installer-friendly residential battery systems with high energy density and a modular architecture protected by numerous patents [8]. Acquisition Details - The acquisition includes a cash payment of $500,000 and the issuance of 200,000 restricted common shares, with additional royalties of $10 per neuClick Battery Module sold for three years [7]. - NeoVolta may issue up to 4 million additional restricted shares if revenue milestones related to Neubau are met before December 31, 2028 [7]. Leadership Changes - Amany Ibrahim has been appointed as Chief Operating Officer, and Thomas Enzendorfer as Chief Technology Officer, both coming from Neubau Energy [1][2]. - Michael Mendik will transition from COO to Chief Product Officer, remaining with the company [1]. Technology Integration - The integration of Neubau's modular energy storage technology is expected to accelerate NeoVolta's expansion in the residential storage market, with installation times reduced by up to 75% [3][5]. - Neubau's technology provides tariff-free access to advanced battery technology, enhancing NeoVolta's competitive position [4][5]. Market Impact - The acquisition is anticipated to deepen NeoVolta's presence in both U.S. and international energy storage markets, increasing gross margins and market reach [5][7].

Core Insights - NeoVolta Inc. has entered into an asset purchase agreement to acquire strategic assets from Neubau Energy, with the acquisition expected to close by October 15, 2025 [1][2] - The acquisition aims to enhance NeoVolta's market position in residential energy storage and is anticipated to be immediately accretive to revenue and gross margins [2][5] - Key executives from Neubau, Amany Ibrahim and Thomas Enzendorfer, have been appointed as Chief Operating Officer and Chief Technology Officer, respectively, to lead operational and technological integration [1][4] Transaction Summary - The acquisition includes a cash payment of $500,000 and 200,000 shares of restricted common stock, along with potential royalty payments and additional shares based on revenue milestones [5] - The integration of Neubau's technology is expected to provide tariff-free access to advanced battery technology and enhance NeoVolta's intellectual property portfolio [5][6] - The acquisition is projected to reduce deployment costs by 75% and improve installation times to under 30 minutes, thereby expanding market opportunities [5][6] Executive Profiles - Amany Ibrahim, previously Chief Strategy Officer at Neubau, co-founded the next-generation modular residential battery platform and brings over a decade of operational growth experience [3] - Thomas Enzendorfer, former CEO of Neubau Energy, has extensive leadership experience in solar manufacturing and distribution [4] Company Background - Neubau Energy, founded in 2023, specializes in installer-friendly residential battery systems with high energy density and a modular architecture protected by numerous patents [6] - NeoVolta is recognized as a leading innovator in energy storage solutions, focusing on sustainable and high-performance systems for residential and commercial applications [7]

Core Insights - NeoVolta Inc. reported a significant revenue increase of 219% in fiscal 2025 compared to fiscal 2024, driven by a robust go-to-market strategy and new product introductions [2][6] - The company launched a new commercial and industrial battery energy storage system and a hybrid inverter, which are expected to enhance its market position [3][8] - Despite the revenue growth, NeoVolta experienced a net loss of $5 million in fiscal 2025, an increase from a $2.3 million loss in the previous year [6][14] Financial Highlights - Fiscal Q4 2025 revenues reached $4.8 million, a 720% increase from the same quarter last year, with a gross margin of 12% [5][8] - For the full fiscal year 2025, total revenues were $8.4 million, with gross margins at 18% [6][8] - Operating expenses rose to $1.9 million in Q4 2025, up from $0.8 million in the prior year, reflecting increased personnel and marketing costs [5][8] Operational Developments - The company signed a letter of intent to acquire strategic assets from Neubau Energy, which is expected to help mitigate the impact of 2026 import tariffs [8] - NeoVolta achieved record installer growth in Texas, signing over 10% of statewide installers [8] - A strategic relationship was formed with Virtual Peaker to enhance energy storage integration and participation in virtual power plants [8] Product Innovations - NeoVolta unveiled a 250kW/430kWh commercial and industrial battery energy storage system at RE+ 2025, with availability expected in Q4 2025 [3][8] - The NV16kW AC hybrid inverter was introduced, which offers enhanced power and solar integration capabilities [3][8]

Product Development and Market Expansion - The company has expanded its product portfolio to include the NVPlus energy storage system and the NV7600 stand-alone inverter, with a new 250 kW / 430 kWh C&I Battery Energy Storage System and NV16 kW AC hybrid inverter expected to be available in November 2025[27][30][42]. - The newly introduced 250 kW / 430 kWh C&I product positions the company to compete in the emerging commercial and industrial storage market, addressing demand for resiliency and demand-charge management[35][43]. - Battery adoption in new solar projects is projected to rise from 6% in 2020 to an estimated 15-20% by 2024, with California seeing about 60% of new residential systems paired with storage under the new net-billing tariff[35]. - The addressable market includes approximately 4.2 million U.S. homes with solar panels, of which over 3 million lack battery storage, presenting a significant retrofit opportunity[33]. Financial Performance - For the fiscal year ended June 30, 2025, the company incurred a net loss of $5.0 million, compared to a net loss of $2.3 million for the fiscal year ended June 30, 2024, resulting in an accumulated deficit of $25.8 million as of June 30, 2025[68]. - Revenues for the year ended June 30, 2025, were $8,426,835, a significant increase from $2,645,072 in 2024, marking the highest annual sales in the company's history[140]. - Cost of goods sold for the year ended June 30, 2025, was $6,920,130, compared to $2,134,725 in 2024, resulting in gross profits of approximately 18% and 19% for each year respectively[141]. - General and administrative expenses increased to $6,065,590 for the year ended June 30, 2025, from $2,828,147 in 2024, primarily due to the hiring of a new CEO and additional personnel[142]. - Net loss for the year ended June 30, 2025, was $5,034,596, up from $2,303,310 in 2024, with no income tax benefit recognized due to uncertainty of realization[145]. Supply Chain and Production - The company transitioned to in-house production in 2023, enhancing quality control and supply chain resilience, and secured a larger facility in February 2025 to support increased production[26][27]. - The company maintains buffer stocks of key components to mitigate risks from supply chain disruptions and is pursuing multi-sourcing arrangements[62]. - The company is dependent on two main component vendors for batteries and inverters, which poses a risk if these suppliers fail to deliver necessary components[71]. - The company has begun stockpiling inventory components in anticipation of potential tariff increases on imports from China[150]. Regulatory and Competitive Environment - The regulatory environment is evolving, with California implementing new safety and interconnection standards that enhance barriers to entry for new competitors[55][57]. - The company competes with established firms like Tesla and LG Chem but differentiates itself through product availability, installer service, and a focus solely on energy storage[45][49]. - The energy storage market is highly competitive, with many established and new companies entering, which may lead to lower sales, price reductions, and loss of market share[89]. Strategic Initiatives - The company aims to expand revenue through strategic sales channel development and broaden financing options through partnerships, especially as federal incentives phase down by December 31, 2025[39][41]. - The company has developed a Certified Installer Program to provide education and support to installers, fostering loyalty and reducing installation risk[47]. - The company is actively working to increase domestic content across its products to ensure compliance with federal incentive programs[62]. Human Resources and Management - The company had 17 full-time employees as of June 30, 2025, with a focus on manufacturing and quality control for its NV14 and NV24 systems[63]. - The company relies heavily on key personnel, including its CEO and CFO, and their departure could disrupt operations[100]. Risks and Challenges - The company is exposed to risks related to cybersecurity, including potential breaches that could compromise sensitive data and disrupt business operations[93]. - The company is facing increased costs and supply disruptions due to geopolitical tensions, particularly from the ongoing military conflicts between Russia and Ukraine and between Gaza and Israel, which could materially affect its financial condition and operations[86]. - Continued high mortgage interest rates may decrease demand for residential energy storage systems, affecting sales volume in the homeowner channel[84]. Intellectual Property and Innovation - The company holds three issued U.S. utility patents as of September 2025, with ongoing investments in research and development to expand its technology portfolio[50][52]. - The company anticipates that technological advancements and customer preferences will require continuous development of new and improved products[97]. - The company may face challenges in protecting its intellectual property rights, which are crucial for maintaining its competitive advantage[96]. Stock and Financing - The company is authorized to issue up to 100 million shares of common stock and 5 million shares of preferred stock, which may lead to dilution of existing shareholders' ownership interests[110]. - The company completed a private equity offering, generating proceeds of $1,087,000 in 2025[176]. - The company has a line of credit with a 16% annual interest rate, with principal and unpaid interest due by September 3, 2028[194].