FORT PIERCE, FL / ACCESS Newswire / December 16, 2025 / Twin Vee PowerCats Co. (Nasdaq:VEEE),("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport boats, today announced favorable new industry data projecting sustained expansion in the center console power catamarans market. A 2025 report by DataHorizzon Research, titled "Center Console Power Catamarans Market Size, Growth & Forecast Report - 2033," forecasts that the global center console power catamarans market (defined a ...

Core Insights - Twin Vee PowerCats Co. has elected Carol Craig and Larry Swets, Jr. to its Board of Directors, effective December 4, 2025, following the departure of Marcia Kull and Neil Ross [1][5] Group 1: Board Member Profiles - Larry Swets, Jr. brings over 25 years of experience in financial services and is currently the Executive Chairman of Saltire Capital, Ltd. He has extensive governance experience and holds a Master's Degree in Finance [2][3] - Carol Craig is the founder and CEO of Sidus Space, a space and defense technology firm. She has a strong background in advanced technology solutions and is pursuing an MBA and a PhD in Systems Engineering [3][4] Group 2: Company Overview - Twin Vee PowerCats Co. manufactures a range of boats under the Twin Vee and Bahama Boats brands, known for their stable, fuel-efficient, and smooth-riding catamaran hull designs [6][7] - The company has been building and selling boats for 30 years and is recognized as a leading brand in the catamaran sport boat category [6][7]

Core Insights - Twin Vee PowerCats Co. is modernizing the marine industry by developing AI tools to enhance the buying, selling, trading, and financing of recreational boats [1] - The company has introduced the Wizz Banger Valuator, an AI platform aimed at providing consistent and reliable boat valuations, addressing a significant barrier in marine financing [1][2] Company Developments - Twin Vee is focusing on integrating AI technology to improve transparency and speed in the boat financing process, which currently takes two to three weeks compared to hours in automotive financing [1] - The Wizz Banger Valuator uses advanced AI to analyze high-resolution images of boats, assessing various conditions and providing standardized condition scores [1] - The platform combines condition scores with market data to deliver objective third-party valuations, free from subjective influences [1] Industry Impact - The marine industry has historically been slow to adopt advanced digital systems, but the integration of AI is expected to transform operations, enhancing speed and precision [1] - Twin Vee is actively engaging with banks, insurance carriers, and other stakeholders to promote the adoption of AI-driven valuations and streamline financing processes [1] - Early feedback from financial institutions indicates a strong interest in reducing evaluation costs and accelerating financing cycles through the use of the Wizz Banger Valuator [1]

Core Insights - Recent market activity has shown significant price movements and trading volumes for several companies, indicating key trends in their respective sectors [1] Company Summaries - SMX (Security Matters) Public Limited Company experienced a stock price surge to $60.18, marking a 245.86% increase, with trading volumes exceeding 20 million shares. The company's focus on brand protection and track and trace technology in the anti-counterfeit market has likely driven investor interest [2][6] - Pasithea Therapeutics Corp., a biotechnology firm, saw its stock price rise to $1.32, reflecting a 38% increase. The company's emphasis on ketamine infusions for depression treatment and potential expansion into anti-depression clinics aligns with the growing recognition of mental health treatment's importance [3][6] - Twin Vee Powercats Co. reported a stock price increase to $2.68, a rise of 50.84%. The company's focus on gas-powered and fully electric boats positions it favorably within the sustainable marine transportation market, further supported by federal tax advantages for boat buyers under the "Big Beautiful Bill" [4] Market Trends - The stock movements of these companies underscore their potential to leverage key market trends, including technology in brand protection, mental health treatment advancements, and sustainable transportation solutions [5]

Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential trading opportunities before the market opens [1] Premarket Gainers - Chijet Motor Company, Inc. (CJET) is up 40% at $2.67 - JX Luxventure Group Inc. (JXG) is up 19% at $4.12 - Inspire Medical Systems, Inc. (INSP) is up 15% at $103.50 - Epsium Enterprise Limited (EPSM) is up 15% at $4.14 - Oscar Health, Inc. (OSCR) is up 12% at $15.13 - Green Dot Corporation (GDOT) is up 11% at $13.21 - Butterfly Network, Inc. (BFLY) is up 6% at $2.82 - Cullinan Therapeutics, Inc. (CGEM) is up 5% at $10.00 - Vir Biotechnology, Inc. (VIR) is up 5% at $5.99 - Nvni Group Limited (NVNI) is up 5% at $3.17 [3] Premarket Losers - Clearside Biomedical, Inc. (CLSD) is down 69% at $0.82 - Twin Hospitality Group Inc. (TWNP) is down 20% at $2.84 - Shuttle Pharmaceuticals Holdings, Inc. (SHPH) is down 15% at $1.35 - Mobile-Network Solutions (MNDR) is down 12% at $4.16 - Waldencast plc (WALD) is down 10% at $2.75 - authID Inc. (AUID) is down 9% at $1.21 - EZGO Technologies Ltd. (EZGO) is down 6% at $1.98 - SciSparc Ltd. (SPRC) is down 5% at $2.34 - Twin Vee Powercats Co. (VEEE) is down 5% at $1.70 - Agape ATP Corporation (ATPC) is down 5% at $1.22 [4]

FORT PIERCE, FLORIDA / ACCESS Newswire / November 24, 2025 / Twin Vee PowerCats Co. (Nasdaq:VEEE), ("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport boats, today announced a significant financial opportunity now available to qualified boat buyers thanks to the federal "Big Beautiful Bill," which delivers powerful depreciation benefits for vessels used in business. Under the legislation, any boat - new or used - which is used 50% or more for business purposes qualifies f ...

Core Insights - Twin Vee PowerCats Co. has announced the commencement of customer deliveries for the Bahama Boats line, indicating a successful integration of the brand into its manufacturing platform [1] - This development marks the beginning of a broader commercial rollout targeting the global sportfishing and high-performance boating market [1] Company Developments - The integration of Bahama Boats into Twin Vee's operations signifies a strategic expansion in the company's product offerings [1] - The announcement highlights Twin Vee's commitment to enhancing its manufacturing capabilities and market presence [1] Market Implications - The launch of the Bahama Boats line is expected to strengthen Twin Vee's position in the competitive sportfishing and high-performance boating sectors [1] - This move may attract new customers and increase market share within the global boating industry [1]

Financial Performance - For the three months ended September 30, 2025, net sales were $3,428,977, an increase from $2,901,318 in the same period of 2024, representing a growth of approximately 18.2%[18] - The gross loss for the three months ended September 30, 2025, was $(45,229), compared to a gross loss of $(145,657) in the same period of 2024, indicating an improvement in gross margin[18] - Total operating expenses for the three months ended September 30, 2025, were $2,731,466, down from $2,966,160 in the same period of 2024, reflecting a decrease of about 7.9%[18] - The net loss for the three months ended September 30, 2025, was $(2,755,513), compared to a net loss of $(3,009,907) in the same period of 2024, showing a reduction of approximately 8.4%[18] - For the nine months ended September 30, 2025, the net loss was $6,019,824, a decrease of 39% compared to a net loss of $9,864,298 for the same period in 2024[23] - The basic and diluted loss per share for the three months ended September 30, 2025, was $(1.23), compared to $(2.64) for the same period in 2024, indicating an improvement in loss per share[18] Cash and Assets - Cash and cash equivalents as of September 30, 2025, were $2,704,571, down from $7,491,123 as of December 31, 2024, indicating a decrease of about 63.9%[15] - Total assets as of September 30, 2025, were $18,894,710, a decrease from $25,887,905 as of December 31, 2024, representing a decline of approximately 27%[15] - Cash, cash equivalents, and restricted cash at the end of the period totaled $2,919,688, down from $11,357,892 at the end of September 2024[23] - As of September 30, 2025, the company had cash, cash equivalents, and restricted cash totaling $2,919,688, down from $7,706,240 as of December 31, 2024[44] - As of September 30, 2025, total property and equipment amounted to $8,716,923, a decrease from $15,037,798 as of December 31, 2024, reflecting a reduction of approximately 42.5%[70] Liabilities and Deficits - Total liabilities as of September 30, 2025, were $2,963,090, down from $6,671,055 as of December 31, 2024, indicating a reduction of about 55.6%[15] - The accumulated deficit as of September 30, 2025, was $(31,412,779), compared to $(25,392,955) as of December 31, 2024, reflecting an increase in the deficit of approximately 23.7%[15] - As of September 30, 2025, accrued liabilities totaled $599,044, a decrease of approximately 24.6% from $794,253 as of December 31, 2024[80] Inventory and Receivables - Total inventory as of September 30, 2025, was $2,664,032, slightly up from $2,650,792 at December 31, 2024, with a reserve for excess and obsolete inventory of $201,891[69] - Accounts receivable increased to $312,993 as of September 30, 2025, compared to $0 at December 31, 2024, with all receivables collected in early October 2025[50] - The company had a reserve for excess and obsolete inventories of $201,891 as of September 30, 2025, compared to $134,032 at December 31, 2024[51] Operating Costs and Expenses - Research and development costs for the three months ended September 30, 2025, were $0, a decrease from $89,403 for the same period in 2024[58] - Advertising costs for the three months ended September 30, 2025, were $17,299, down from $24,196 in the same period of 2024[57] - The company recorded an impairment of $360,151 for a building classified as held for sale as of September 30, 2025[56] - Depreciation and amortization expense for the three months ended September 30, 2025, was $419,825, compared to $440,458 for the same period in 2024, indicating a decrease of about 4.4%[70] - Operating lease cost for the three months ended September 30, 2025, was $97,721, down from $120,071 in the same period of 2024, representing a decline of approximately 18.5%[74] Corporate Developments - The company formed a new subsidiary, Wizz Banger, Inc., to develop an enhanced used boat marketplace leveraging recently acquired URLs[28] - On June 5, 2025, the company entered into an Asset Purchase Agreement to acquire assets from Bahama Boat Works for a total consideration of $3,000,000, including a $100,000 upfront payment[29] - The Company operates in two segments: Twin Vee PowerCats and Wizz Banger, Inc., focusing on recreational and commercial powerboats and an AI-driven online marketplace, respectively[111] - Wizz Banger, Inc. generated limited revenue and represented less than 10% of the Company's consolidated assets, revenues, and net loss for the nine months ended September 30, 2025[112] Financing and Credit - The company has a line of credit with Wells Fargo and Yamaha Motor Finance totaling $1,250,000 and $1,000,000, respectively, as of September 30, 2025[81] - The interest rate on the Wells Fargo line of credit was approximately 12.7% as of September 30, 2025, compared to 11.1% as of December 31, 2024[82] - The company has an outstanding SBA Economic Injury Disaster Loan of $499,900 with a 3.75% interest rate, with interest-only payments of $2,437 starting from October 22, 2022[85] Subsequent Events and Reporting - There were no additional material subsequent events reported between September 30, 2025, and November 6, 2025[115] - The Company is classified as a smaller reporting company and is not required to provide certain market risk disclosures[182]

Financial Data and Key Metrics Changes - For Q3 2025, net sales were $3.43 million, an 18% increase year-over-year from $2.9 million in Q3 2024 [11] - The gross loss was approximately $45,000, an improvement from last year's loss of $146,000, indicating better production efficiency and cost control [11] - The net loss for the quarter was $2.76 million, improved from a $3 million loss in the same quarter last year [11] - For the first nine months of 2025, sales totaled $11.8 million with a gross margin of 9.6%, significantly up from 2.7% a year ago [11] Business Line Data and Key Metrics Changes - The company added 10 new dealer locations in Q2 and Q3, expanding into regions like the Southeastern Seaboard, Gulf Coast, and Australia [5] - The 22-foot BayCat model continues to perform well, with production aligned with dealer orders to avoid overstocking [6] Market Data and Key Metrics Changes - The boating industry is facing challenges due to high interest rates, inflation, and cautious consumer spending, which have slowed new boat sales [4][10] - Elevated inventory levels across the industry are creating a complex environment for manufacturers and dealers [10] Company Strategy and Development Direction - The company is focused on driving sales, dealer expansion, and customer engagement while managing costs and inventory [4] - Strategic moves include the completion of a four-tier headquarters expansion and the installation of a 46-foot five-axis CNC router to improve operational efficiencies [5][12] - The sale of the North Carolina property for $4.25 million is aimed at reducing overhead and strengthening the balance sheet [12][8] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenging environment but emphasizes a disciplined approach to navigate through it [10][15] - The strategy moving forward includes protecting liquidity, supporting dealers, and preparing for growth when demand improves [13][15] - The company aims to emerge stronger from current market conditions by focusing on high-quality boat production and dealer support [9][15] Other Important Information - The company maintains low leverage with only long-term debt being the SBA Economic Injury Disaster Loan at a fixed 3.75% rate [12] - The operational upgrades and strategic acquisitions are positioned to enhance competitiveness while protecting financial health [9] Q&A Session Summary - There were no questions during the Q&A session, and the conference call concluded without any inquiries from participants [16]

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