Twin Vee PowerCats (VEEE) Q4 2024 Earnings Call March 20, 2025 05:05 PM ET Company Participants Michael Dickerson - Chief Financial & Administrative Officer Operator Welcome to the Twinbee Power Cats Company Year End twenty twenty four Investor Call. As a reminder, this call is being recorded and all participants are in a listen only mode. Your speaker for today's program is Chief Financial and Administrative Officer, Mike Dickerson. Before I turn the call over to Mike, please remember that certain statemen ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission file number 001-40623 TWIN VEE POWERCATS CO. (Exact name of registrant as specified in its charter) Delaware 27-1417610 (State or other jurisdiction of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission File Number: 001-40623 TWIN VEE POWERCATS CO. (Exact name of registrant as specified in its charter) Delawar ...

Twin Vee Powercats Co. (NASDAQ:VEEE) Q3 2024 Earnings Conference Call November 14, 2024 12:00 PM ET Company Participants Joseph Visconti - Chairman and CEO Michael Dickerson - Chief Financial and Administrative Officer Operator Welcome to the Twin Vee PowerCats Company Third Quarter 2024 Investor Call. As a reminder, this call is being recorded and all participants are in a listen only mode. Your speakers for today's program are Chairman and CEO, Joseph Visconti; and Chief Financial and Administrative Offic ...

Financial Data and Key Metrics - Net sales for Q2 2024 were $4.3 million, a 47% decrease from $8.1 million in Q2 2023 [14] - Gross margin remained positive at close to 5% despite challenging market conditions [14] - Operating expenses decreased by $793,000 (20%) compared to Q2 2023, excluding a $1.674 million impairment charge [15] - General and administrative expenses decreased by $158,000 (17%) [15] - Salaries and wages decreased by $903,000 (43%) [15] - Research and development expenses increased by $150,000 due to an inventory valuation adjustment at Forza [15] Business Line Data and Key Metrics - Twin Vee segment operating expenses decreased by $457,000 (19%) compared to Q2 2023 [16] - Forza segment ended Q2 2024 with $8.2 million in cash and cash equivalents, a reduction of $1.75 million from Q1 2024 [17] - Twin Vee segment ended Q2 2024 with $6.945 million in cash and cash equivalents, a reduction of $483,000 from Q1 2024 [18] Market Data and Key Metrics - The company is expanding its factory in Fort Pierce, Florida, to nearly 100,000 square feet, aiming to produce up to 1,000 boats annually [10] - The merger with Forza is expected to strengthen the combined company's balance sheet, with approximately $1 per share in cash and $2 per share in net assets [12] Company Strategy and Industry Competition - The company is focusing on innovation, introducing the second-generation GFX model line with advanced technological features [7] - Twin Vee is investing in infrastructure to reduce long-term costs and increase manufacturing capacity [10] - The merger with Forza aims to create a stronger, more competitive brand with a focus on long-term profitable growth [11][12] Management Commentary on Operating Environment and Future Outlook - The company is navigating a complex economic environment with higher interest rates and shifting consumer confidence [4] - Management is confident in the company's ability to emerge stronger from the current downturn [4] - The merger with Forza is seen as a transformative step for future growth and shareholder value [11][12] Other Important Information - The company recorded a $1.674 million impairment charge related to a partially completed building in Marion, North Carolina [18] - The company is evaluating options to maximize shareholder value regarding the Marion building, including selling or completing the construction [19] Q&A Session Summary - No specific questions or answers were provided in the transcript [21][22]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission File Number: 001-40623 TWIN VEE POWERCATS CO. (Exact name of registrant as specified in its charter) Delaware (St ...

EXHIBIT 99.1 Twin Vee PowerCats Co. Reports Second Quarter 2024 Results of Operations FORT PIERCE, FLORIDA, August 14, 2024 – Twin Vee PowerCats Co. (Nasdaq: VEEE) ("Twin Vee" or the "Company"), manufactures Twin Vee PowerCats and AquaSport boats knows as offshore, family-friendly fishing boats from its factory in Fort Pierce, Florida today reported operational highlights and financial results for three months ended June 30, 2024. Highlights for three months ended June 30, 2024: (Unless otherwise noted, all ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to _______________ Commission File Number: 001-40623 TWIN VEE POWERCATS CO. (Exact name of registrant as specified in its charter) Delaware (S ...

Financial Performance - Revenue for the three months ended March 31, 2024, decreased by 41% to $5,276,343 from $8,877,215 in the same period in 2023[6] - Consolidated net loss for the first quarter of 2024 was $2,335,194, compared to a net loss of $1,828,465 in the prior year, reflecting an increase of 28%[7] - The gas-powered boat segment reported a net loss of $1,163,957 for the three months ended March 31, 2024, compared to net income of $181,849 in the comparable prior year period[7] - Net sales for the three months ended March 31, 2024, were $5,276,343, a decrease of 40.5% compared to $8,877,215 in the same period of 2023[20] - Gross profit for the same period was $277,314, down 82.8% from $1,609,558 year-over-year[20] - Adjusted net loss for the three months ended March 31, 2024, was $(1,361,809), an improvement compared to $(1,465,835) in 2023[20] - The company reported a net loss of $(2,335,194) for Q1 2024, compared to a net loss of $(1,828,465) in Q1 2023, reflecting a 27.8% increase in losses[20] - Basic and dilutive loss per share for Q1 2024 was $(0.18), compared to $(0.12) in Q1 2023[20] Cash Flow and Reserves - Cash reserves decreased to $17,381,000 on March 31, 2024, down from $21,218,000 on December 31, 2023, primarily due to R&D spending and operational cash losses[6] - Cash used in operating activities decreased by 22% to $1,749,920 in Q1 2024 from $2,232,650 in Q1 2023[16] - The company is committed to reducing cash burn while making strategic investments in infrastructure and product development[5] Operating Expenses - Operating expenses decreased to $2,820,520 in Q1 2024 from $3,979,081 in Q1 2023, a reduction of 29.1%[20] - Stock-based compensation for Q1 2024 was $426,283, down from $482,964 in Q1 2023[20] - Depreciation and amortization increased to $425,281 in Q1 2024 from $218,276 in Q1 2023, reflecting a 95% increase[20] Assets and Liabilities - Total assets as of March 31, 2024, were valued at $36,454,000, while total liabilities were $6,313,649[16] Production and Investment - Twin Vee is expanding its Fort Pierce, FL manufacturing facility to increase production capacity and improve efficiency[5] - The company is investing in new models, including the Generation 2 GFX boats, to prepare for the next market upswing[5] Inventory and Marketable Securities - The company recorded a change in inventory reserve of $113,252 in Q1 2024, while there was no such change in Q1 2023[20] - The net change in marketable securities was $15,548 in Q1 2024, compared to $(8,034) in Q1 2023[20] Employee Productivity - The revenue generated per direct labor employee increased to approximately $103,000 in Q1 2024, compared to approximately $72,000 in Q1 2023[6]

Twin Vee Powercats Co. (NASDAQ:VEEE) Q1 2024 Results Conference Call May 15, 2024 12:00 PM ET Company Participants Joseph Visconti - President and CEO Michael Dickerson - CFO Operator Welcome to the Twin Vee PowerCats Company First Quarter 2024 Investor Call. As a reminder, this call is being recorded and all participants are in a listen-only mode. Your speaker for today's program is Joseph Visconti, President and CEO of Twin Vee PowerCats Company. Before I turn the call over to Joseph, please remember tha ...