Core Insights - NeoVolta Inc. has introduced a 250kW / 430kWh battery energy storage solution aimed at commercial and industrial applications, expanding its product offerings beyond residential solutions [1][4] - The company launched the NV16kW AC hybrid inverter, which supports 24kW PV input and is designed for whole-home power solutions [1][5] - NeoVolta signed a Letter of Intent to acquire strategic assets from Neubau Energy, which will enhance its market position and help avoid potential tariffs on battery imports in 2026 [1][3] Product Offerings - The 250kW / 430kWh Commercial & Industrial (C&I) battery energy storage system (BESS) is designed for energy independence, demand charge reduction, and backup power resilience [4][6] - Key features of the C&I BESS include modular design, integrated controls for demand management, and compatibility with generator and grid-tied configurations [6][4] - The NV16kW AC hybrid inverter offers features such as generator readiness, solar retrofit compatibility, and is certified for both indoor and outdoor installations [10][7] Market Positioning - NeoVolta's expanded product lineup has generated significant interest from customers and partners, indicating strong market demand for its C&I solutions [3][1] - The company is focusing on building partnerships with distributors and EPC/installer networks to accelerate market access across select U.S. regions [5][4] - The pilot and early-access programs for the C&I portfolio are currently underway with select partners, with general availability to be announced as milestones are achieved [4][5]

Core Insights - NeoVolta Inc. has launched its first Commercial & Industrial (C&I) energy storage solution, a 250kW / 430kWh battery energy storage system (BESS), aimed at enhancing energy management for commercial properties and industrial sites [1][2] Company Overview - NeoVolta is recognized as a leading innovator in energy storage solutions, focusing on reliable, sustainable, and high-performance systems to meet the growing demand for efficient energy management in both residential and commercial applications [4] Product Features - The 250kW / 430kWh C&I BESS is designed with a modular and scalable architecture, integrated controls for demand management, and is compatible with solar, generator, and grid-tied configurations [7] - The product aims to provide energy independence, reduce demand charges, and ensure backup power resilience for businesses [2][7] Market Strategy - The company plans to begin accepting commercial project inquiries at the RE+ 2025 event, with installations expected to start in Q4 2025 [2] - The C&I BESS will be distributed through authorized NeoVolta distributors and directly for large-scale projects, indicating a strategic approach to market penetration [2]

Core Insights - NeoVolta Inc. has signed a letter of intent to acquire strategic assets of Neubau Energy, aiming to capture significant market share in the residential energy storage sector while avoiding potential 2026 battery import tariffs exceeding 28% [1][3] Strategic Rationale and Market Opportunity - The acquisition is expected to transform NeoVolta's competitive position by providing immediate tariff-free access to advanced battery technology through Neubau's patented technology and Austrian manufacturing capabilities [3][6] - The integration of Neubau's team into leadership roles is anticipated to accelerate NeoVolta's growth plans and enhance revenue and gross margins [3][6] - The acquisition will enable NeoVolta to reduce installation time from 4 hours to under 30 minutes, democratizing energy storage and expanding the installer base to any licensed electrician [4][6] Operational Integration - NeoVolta and Neubau are already collaborating at the RE+ 2025 event, demonstrating their integrated platform and generating significant market interest [2][4] - The transaction is structured as a cash and stock acquisition, with definitive documentation expected within 30 days, subject to board and shareholder approvals [5] Technology and Manufacturing Advantages - Neubau Energy has developed a modular residential battery system with the highest energy density in its class, integrating multiple components into a single unit that can be installed quickly [6][7] - The acquisition will enhance NeoVolta's intellectual property portfolio with over a dozen patents related to advanced modular battery architecture [6][7] - Neubau's Austrian manufacturing facility provides a tariff-advantaged platform for the U.S. residential storage market, aligning with the Inflation Reduction Act (IRA) requirements [6][7]

Core Insights - NeoVolta Inc. is set to unveil its latest product, the NV16kW AC hybrid inverter, at the RE+ 2025 clean energy trade show, with general availability starting in November 2025 [1][4] - The NV16kW AC hybrid inverter is designed to provide whole-home power solutions, featuring advanced capabilities such as generator input, solar compatibility, and hybrid performance [2][4] - The product is intended to work seamlessly with NeoVolta's NV+ 10.2kWh stackable battery, creating a powerful inverter-and-battery bundle for enhanced energy independence [3][4] Product Features - The NV16kW AC hybrid inverter has a 24kW PV input and 16kW AC input capacity, with a 200A pass-through for whole-home backup [8] - It is generator-ready, solar retrofit compatible, and rated for both indoor and outdoor installations [8] - The inverter supports hybrid functionality, including AC/DC coupling and off-grid capabilities, and has received multiple certifications [8] Company Overview - NeoVolta is recognized as a leading innovator in energy storage solutions, focusing on sustainable and high-performance systems for residential and commercial applications [6] - The company aims to meet the increasing demand for efficient energy management through cutting-edge technology and strategic partnerships [6]

Core Insights - NeoVolta Inc. has reported preliminary results for its fiscal fourth quarter, achieving approximately $5 million in revenue, marking its third consecutive record-setting quarter [1][6] - The company's full-year revenue for fiscal 2025 is projected to more than triple compared to fiscal 2024, indicating a growth rate significantly exceeding the typical annual growth of approximately 20% in the residential energy storage industry [1][2] Company Performance - NeoVolta's growth rate is approximately ten times the industry average, highlighting the accelerating demand for its American-assembled battery systems [2] - The CEO of NeoVolta emphasized the company's ability to scale production and capture market share, demonstrating clear product differentiation and operational momentum in a market with typically sub-20% annual growth [3] Market Positioning - The company is well-positioned to capitalize on the growing demand for residential energy storage, driven by rising utility rates, declining grid reliability, and increasing homeowner interest in American-assembled solutions [3] - NeoVolta's focus on cutting-edge technology and strategic partnerships aims to enhance energy management in residential and commercial applications, reinforcing its role as a critical player in the clean energy sector [4]

Core Insights - NeoVolta Inc. has achieved a record high in distributor purchase orders, exceeding $3 million in the current quarter, marking the highest quarterly total in the company's history [1][2] - The surge in orders indicates a significant milestone in NeoVolta's expansion strategy, reflecting growing demand for its energy storage systems across the U.S. through established installer networks [2][3] - The strength of the distributor channel highlights broader market traction, with sustained installer demand confirmed across diverse regions, particularly in markets like Puerto Rico where grid instability and rising electricity costs drive demand [3] Company Overview - NeoVolta is an innovator in energy storage solutions, focused on providing reliable and sustainable systems for residential and commercial applications [4] - The company aims to meet the increasing demand for efficient energy management, leveraging cutting-edge technology and strategic partnerships to enhance renewable energy storage and usage [4]

[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The company's unaudited financial statements for the period ended March 31, 2025, show significant asset and liability growth, substantial revenue increase, a widened net loss, and negative operating cash flow offset by financing activities Balance Sheet Summary (Unaudited) | Balance Sheet Items | March 31, 2025 | June 30, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $535,966 | $986,427 | | Accounts receivable, net | $2,356,468 | $1,805,980 | | Inventory, net | $2,279,725 | $1,787,308 | | **Total current assets** | **$5,711,691** | **$4,656,530** | | **Liabilities** | | | | Short-term notes payable | $1,420,116 | $– | | Payable to line of credit lender | $383,538 | $– | | **Total liabilities** | **$1,885,240** | **$61,100** | | **Total stockholders' equity** | **$3,826,451** | **$4,595,430** | Statement of Operations - Three Months Ended March 31 (Unaudited) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Revenues | $2,014,105 | $283,900 | | Gross profit | $514,508 | $166,145 | | General and administrative | $1,857,531 | $756,118 | | Loss from operations | ($1,370,970) | ($600,365) | | **Net loss** | **($1,449,331)** | **($589,473)** | | Net loss per share | ($0.04) | ($0.02) | Statement of Operations - Nine Months Ended March 31 (Unaudited) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Revenues | $3,675,922 | $2,065,858 | | Gross profit | $931,266 | $493,190 | | General and administrative | $4,136,167 | $2,085,976 | | Loss from operations | ($3,283,789) | ($1,603,178) | | **Net loss** | **($3,384,962)** | **($1,574,232)** | | Net loss per share | ($0.10) | ($0.05) | Cash Flow Summary - Nine Months Ended March 31 (Unaudited) | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | ($3,501,515) | ($988,827) | | Net cash provided by financing activities | $3,051,054 | $– | | **Net decrease in cash** | **($450,461)** | **($988,827)** | | Cash at end of period | $535,966 | $1,013,962 | - The company designs, sells, and manufactures Energy Storage Systems (ESS) for residential and commercial sites, primarily selling through wholesale customers[30](index=30&type=chunk) - Significant customer concentration exists. For the three months ended March 31, 2025, two dealers represented approximately **48% and 15% of revenues**. For the nine-month period, three dealers represented 26%, 24%, and 15% of revenues[34](index=34&type=chunk) - In September 2024, the company secured a line of credit for up to **$5,000,000**. As of March 31, 2025, net borrowings were **$383,538**. Additionally, the company initiated short-term borrowings from a commercial accounts receivable lender, with an outstanding balance of **$1,420,116** as of March 31, 2025[43](index=43&type=chunk)[45](index=45&type=chunk) - In February 2025, the company closed a private equity offering, issuing **543,500 shares** of common stock at **$2.00 per share** for gross proceeds of **$1,087,000**[46](index=46&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=15&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes significant revenue growth to new sales channels and CEO hiring, but increased G&A expenses led to a wider net loss, with liquidity bolstered by recent financing and a new tariff risk identified Quarterly Performance Comparison (Three Months Ended March 31) | Metric | 2025 | 2024 | Change Driver | | :--- | :--- | :--- | :--- | | Revenues | $2,014,105 | $283,900 | Impact of opening new sales channels. | | G&A Expense | $1,857,531 | $756,118 | Engagement of new CEO and other employees, leading to higher cash and stock compensation. | | Net Loss | ($1,449,331) | ($589,473) | Increased operating expenses outpaced gross profit growth. | Year-to-Date Performance Comparison (Nine Months Ended March 31) | Metric | 2025 | 2024 | Change Driver | | :--- | :--- | :--- | :--- | | Revenues | $3,675,922 | $2,065,858 | Impact of opening new sales channels. | | G&A Expense | $4,136,167 | $2,085,976 | Engagement of new CEO and other employees, leading to higher cash and stock compensation. | | Net Loss | ($3,384,962) | ($1,574,232) | Increased operating expenses outpaced gross profit growth. | - Net cash used in operating activities increased to **$3.5 million** for the nine months ended March 31, 2025, from **$0.99 million** in the prior year, due to a higher net loss and increased working capital needs, including inventory stockpiling[85](index=85&type=chunk) - Financing activities provided **$3.05 million** in cash, sourced from a private equity offering (**$1.09M**), borrowings under a new line of credit and other short-term debt, and proceeds from warrant exercises (**$160.4K**)[86](index=86&type=chunk) - The company has stockpiled its main components (batteries and inverters) from China in anticipation of significant tariff increases implemented by the new Trump Administration in April 2025. This mitigates the short-term impact, but prolonged tariffs could adversely affect sales and profitability[89](index=89&type=chunk)[90](index=90&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=19&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a "smaller reporting company," NeoVolta is exempt from providing quantitative and qualitative disclosures about market risk - The company is exempt from this disclosure requirement because it qualifies as a "smaller reporting company" under Exchange Act Rule 12b-2[93](index=93&type=chunk) [Controls and Procedures](index=20&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls were ineffective as of March 31, 2025, due to a material weakness from lack of segregation of duties, with no material changes to internal controls during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were **not effective** as of March 31, 2025[95](index=95&type=chunk) - The ineffectiveness is due to a **material weakness** stemming from a lack of segregation of duties, which is challenging to remediate given the company's size and resource constraints[95](index=95&type=chunk) - There were no changes in internal controls over financial reporting during the quarter that materially affected, or are reasonably likely to materially affect, these controls[97](index=97&type=chunk) [PART II. OTHER INFORMATION](index=20&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=21&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently a party to any material legal proceedings and is unaware of any such proceedings being contemplated against it - As of the report date, the company is **not involved in any material legal proceedings**[99](index=99&type=chunk) [Risk Factors](index=21&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors were reported, except for a new risk concerning significant tariff increases on key components from China, which could adversely affect sales and profitability despite inventory stockpiling - A new risk factor has been added regarding **significant tariff increases** on goods imported from China, which applies to the company's main raw material components: batteries and inverters[101](index=101&type=chunk) - The company has mitigated the short-term risk by **stockpiling inventory** but acknowledges that if a trade agreement is not reached, it may have to either absorb the costs or pass them to customers, both of which could **materially and adversely affect sales and/or profitability**[101](index=101&type=chunk)[102](index=102&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=21&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) On February 28, 2025, the company completed a private equity offering, issuing 543,500 common shares at $2.00 each for gross proceeds of $1,087,000, designated for working capital and general corporate purposes - The company closed a private placement on February 28, 2025, raising **$1,087,000** in gross proceeds by selling **543,500 shares** at **$2.00 per share**[103](index=103&type=chunk) - The sale was made to **accredited investors** under an exemption from registration pursuant to Section 4(a)(2) of the Securities Act and/or Rule 506 of Regulation D[103](index=103&type=chunk) [Defaults Upon Senior Securities](index=21&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports no defaults upon its senior securities - **None reported**[104](index=104&type=chunk) [Mine Safety Disclosures](index=22&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - **Not applicable**[105](index=105&type=chunk) [Other Information](index=22&type=section&id=Item%205.%20Other%20Information) During the reported quarter, none of the company's directors or executive officers adopted or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement - **No director or executive officer has adopted or terminated a Rule 10b5-1 trading plan or other non-Rule 10b5-1 trading arrangement** during the period[106](index=106&type=chunk) [Exhibits](index=22&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including corporate governance documents, recent agreements, and required certifications by the Principal Executive and Financial Officers - The report includes a list of filed exhibits, such as amended corporate articles, bylaws, employment agreements, and required **SOX 302 and 906 certifications**[107](index=107&type=chunk)

Core Insights - NeoVolta Inc. is projected to achieve over $2 million in revenue for April 2025, surpassing the total estimated revenue for the entire first quarter of 2025 [1] - The company previously estimated first quarter revenue exceeding $2 million, indicating a year-over-year increase of more than 600% [2] - The CEO of NeoVolta highlighted that the record revenue in April follows a record-breaking first quarter, indicating a strong growth trajectory [3] Company Growth Factors - The rapid expansion of NeoVolta is driven by increasing demand for backup power due to grid instability, rising energy costs, and weather-related disruptions [3] - The company is expanding its installer network and penetrating new markets, particularly in Texas, which is contributing to its growth [3] - NeoVolta is focused on delivering reliable and cost-saving energy storage solutions, which aligns with the rising demand in the market [3] Future Outlook - NeoVolta plans to announce finalized financial results for the first quarter of 2025 in May 2025 [4] - The company is committed to advancing clean energy through innovative energy storage solutions and strategic partnerships [5]

Company Overview - NeoVolta Inc. is a U.S.-based energy technology company focused on scalable storage solutions for residential and commercial power infrastructure [1][4] - The company aims to advance clean energy through reliable and high-performance energy storage systems [4] Market Growth - Texas has become one of the fastest-growing battery storage markets in the U.S., surpassing 6,200 megawatts of installed capacity by the end of 2024 [2] - NeoVolta has onboarded over 10% of Texas's solar installers as NeoVolta Certified Dealers, indicating strong demand for energy solutions among homeowners [2] Strategic Partnerships - NeoVolta has formed a distribution partnership with Solartek Distributors, LLC, which will enhance deployment and training for Texas-based installers [3] - Solartek's local presence and comprehensive portfolio of solar and storage equipment will support NeoVolta's growth in the Texas market [3][4]

Core Insights - NeoVolta Inc. has partnered with Virtual Peaker to enhance grid resilience and promote the adoption of distributed energy resources [1][2][3] - The collaboration integrates NeoVolta's advanced battery energy storage systems with Virtual Peaker's virtual power plant platform, enabling AI-driven energy management [2][3] - This partnership aims to empower energy consumers to actively participate in the energy ecosystem, benefiting both homeowners and utilities [3] Company Overview - NeoVolta is a leading innovator in energy storage solutions, focused on providing reliable and sustainable energy storage systems for residential and commercial applications [4] - The company is committed to advancing renewable energy and improving energy management through strategic partnerships and cutting-edge technology [4] Virtual Peaker Overview - Virtual Peaker is a prominent virtual power plant software company that helps utilities build a future-ready grid and achieve global decarbonization goals [5] - The company's software-as-a-service platform integrates distributed energy resource management, customer engagement, and load forecasting [5]