Twin Vee PowerCats has reported a 92% increase in its first quarter 2025 revenues compared to the previous quarter.
The financial results for the quarter ended March 31 2025, show revenues of $3.6 million – 91.7% up on the fourth quarter of 2024.
The company had a gross margin of 14.9%, and adjusted net loss averaged $333,000 per month during the quarter and adjusted net loss was $400,000 per month.
The company highlights its new dealer network which it says is expanding its brand presence and geographic footprint and says it also stayed disciplined with operating costs.
In March 2025, it was reported that Twin Vee had appointed six new dealers across the US in a bid to extend its reach.
Top-line growth
“We are pleased to report a strong start to 2025, with top-line growth and margin expansion that outpaced expectations,” said Joseph Visconti, CEO and president of Twin Vee.
“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.”
And he said Twin Vee expects the second quarter of 2025 to reflect a continued growth in revenue as market conditions gradually improve and consumer demand begins to rebound.
We are pleased to report a strong start to 2025, with top-line growth and margin expansion.
Joseph Visconti
“We are committed to scaling responsibly, that is, balancing production increases with expense control and working capital discipline,” concluded Joseph.
“With most of our heavy capital investments now behind us, we anticipate a more favourable cash profile going forward.”
Twin Vee acquired BoatsForSale.com and YachtsForSale.com earlier in 2025.
In January 2025, the company said it was seeing demand rebound and a return in consumer confidence following a difficult 2024.
