NeoVolta Inc. Releases Q2 2025 10-Q Report Highlighting Financial and Operational Performance
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NeoVolta Inc., a leading provider of energy storage solutions, has released its Form 10-Q report for the second quarter of 2025. The report provides a comprehensive overview of the company's financial performance and operational highlights, reflecting the impact of strategic initiatives and market expansion efforts.
Financial Highlights
- Revenues from contracts with customers: $1.07 million, reflecting a modest increase due to new sales channels opened since the engagement of the new CEO.
- Gross Profit: $0.32 million, with a gross margin improvement to approximately 30% from 20% in the prior year, largely due to the reversal of a prior year reserve for obsolescence.
- Loss from operations: $(0.95) million, increased from $(0.57) million in the prior year, primarily due to higher general and administrative expenses.
- Net loss: $(0.97) million, compared to $(0.56) million in the prior year, driven by increased operating expenses and interest expenses.
- Net loss per share - basic and diluted: $(0.03), compared to $(0.02) in the prior year, reflecting the increased net loss.
Business Highlights
- Revenue Segments: NeoVolta generates revenues primarily from contracts with wholesale dealers and installers, with two dealers representing significant portions of revenue in the reporting period. The company has expanded its sales channels since the engagement of a new CEO in April 2024.
- Geographical Performance: The company primarily operates in California but has expanded its installations to additional states including Arizona, Utah, Colorado, Wyoming, Texas, Oklahoma, Missouri, Tennessee, Alabama, Georgia, Florida, and Puerto Rico.
- Sales Units: NeoVolta's sales include its flagship products NV14, NV14-K, and NV-24. The company has seen a modest increase in revenues due to new sales channels and product offerings.
- New Product Launches: The company continues to focus on developing its flagship NV14, NV14-K, and NV-24 products, with efforts directed towards meeting specific industry needs for future product generations.
- Future Outlook: NeoVolta anticipates increased demand for its products over time, supported by a recently obtained line of credit and a private offering completed in February 2025. The company is also monitoring international developments but does not foresee significant impacts on its supply chain or domestic markets.