Twin Vee PowerCats saw its net sales rise 18% to $3.43 million in the third quarter of 2025 ending September 30.
The company’s gross loss narrowed to $45,000 compared to $146,000 in the prior year and the net loss improved 8% to $2.76 million.
Operating expenses decreased 8% to $2.73 million.
For the first nine months of 2025 Twin Vee had net sales of $11.8 million compared to $12.5 million in 2024 and a gross profit of $1.15 million compared to $0.33 million in 2024.
The company’s operating loss reduced 41% year over year and its net loss improved to $6.02 million compared to $9.86 million in 2024.
Twin Vee continued to execute its turnaround and cost-reduction plan in the third quarter, improving both gross margin and operating efficiency.
Joseph Visconti
“Twin Vee continued to execute its turnaround and cost-reduction plan in the third quarter, improving both gross margin and operating efficiency,” explained Joseph Visconti, Twin Vee CEO and president.
“Our expanding dealer partnerships and disciplined overhead management supported 18% revenue growth while narrowing losses.”
Significant events during the period include the expansion of Twin Vee’s dealer coverage, and the integration of Bahama Boat Works with development of new monohull models underway following the June 2025 acquisition.
Strengthened balance sheet
In October 2025, Twin Vee signed with Terraglio Yacht Group to manage inbound lead flow and represent Twin Vee and Bahama Boats nationwide.
Twin Vee has also recently announced it has completed the sale of its Marion, North Carolina property, providing $500,000 in immediate proceeds and $3.75 million in future payments through 2027, including a $2.75 million balloon payment due October 31, 2027.
“We remain focused on liquidity, operating leverage, and cash flow,” said Scott Searles, interim chief financial officer.
“The Marion facility sale and the ongoing Bahama Boat Works integration strengthen our balance sheet and provide a platform for future model introductions.”
