NeoVolta(US:NEOV) Globenewswire·2026-02-17 13:30Core Insights - NeoVolta Inc. reported a transformational quarter, setting the stage for strong growth and aiming to capture a $45 billion market opportunity by 2030 across residential, commercial & industrial (C&I), and utility-scale segments [2][4] Financial Performance - Revenue for Q2 FY2026 reached $4.6 million, a 334% increase from $1.1 million in Q2 FY2025, with six-month revenue totaling $11.3 million, up 580% from $1.7 million in the prior year [5] - Gross profit for Q2 FY2026 was $0.8 million, representing a gross margin of approximately 17%, compared to $0.3 million and 30% in Q2 FY2025 [5] - Operating expenses for Q2 FY2026 totaled $5.2 million, up from $1.3 million in Q2 FY2025, primarily due to higher share-based compensation and investments in infrastructure [5] - Net loss for Q2 FY2026 was $(5.5) million, or $(0.16) per share, compared to $(1.0) million, or $(0.3) per share in Q2 FY2025 [5] Strategic Initiatives - The company closed the acquisition of Neubau Energy, enhancing its modular battery storage technology [9] - A strategic collaboration with Luminia was advanced for up to 160 MWh of energy storage supply, potentially generating $39 million in equipment revenue [9] - A joint venture for U.S. battery manufacturing was launched in Georgia, with a 60% ownership stake, aimed at producing 2 GWh annually, scalable to 8 GWh [10][14] Market Segmentation - The residential platform focuses on brand visibility and recurring revenue through installer partnerships and innovative financing models [6] - The C&I platform targets the underserved "missing middle" market, with a pipeline exceeding 100 MW and significant growth expected in the next 2 to 3 years [7] - The utility-scale platform, supported by the Georgia manufacturing joint venture, aims to access higher-margin projects while meeting domestic content requirements [8] Capital and Financing - NeoVolta raised approximately $23 million in gross proceeds through two equity financing transactions since December 2025 [11][15] - The company has a strong financing position with approximately $16 million in working capital, positioning it to meet an $8 million funding obligation due by April 30, 2026 [12][16] Leadership and Governance - A planned change in the Chief Product Officer role was made, with product strategy and development timelines remaining intact [18] - The governance structure includes a 60% controlling interest in the joint venture, with three of five board seats held by NeoVolta [14]