Twin Vee today announced the financial results of its third quarter. Net sales were up 18% to $3.43 million, while gross loss narrowed to $45,000, driven by improved cost control and efficiency. Net loss improved 8% to $2.76 million, and cash and equivalents totaled $2.92 million at the end of the quarter.
“Twin Vee continued to execute its turnaround and cost-reduction plan in the third quarter, improving both gross margin and operating efficiency,” CEO Joseph Visconti said in a statement. “Our expanding dealer partnerships and disciplined overhead management supported 18% revenue growth while narrowing losses.”
The company said it remains focused on disciplined cost management, dealer growth and monetization of non-core assets, and “expects to enter 2026 with a leaner cost structure, a refreshed product portfolio and stronger cash flow generation potential.”
“We remain focused on liquidity, operating leverage and cash flow,” said interim chief financial officer Scott Searles. “The [recent] Marion facility sale and the ongoing Bahama Boat Works integration strengthen our balance sheet and provide a platform for future model introductions.”
