Twin Vee PowerCats yesterday announced its first quarter financial results. Revenues of $3.6 million were a 91.7% sequential increase from the fourth quarter of 2024 and exceeded forecasting by 50%.
Gross margin of 14.9% was an improvement of 961 basis points from the fourth quarter. Adjusted net loss of $333,000 per month during the quarter improved 17% from the previously guided net loss of $400,000 per month.
“We are pleased to report a strong start to 2025, with top-line growth and margin expansion
that outpaced expectations,” president and CEO Joseph Visconti said in a statement. “Our team executed well across the board, growing revenues by more than 90% over the fourth quarter of 2024, expanding gross margins and staying disciplined with operating costs. The addition of several new dealers in the first quarter underscores growing market confidence in the Twin Vee brand and further extends our reach into key regional markets.”
The company did not provide forward-looking guidance for the remainder of 2025.
