Twin Vee PowerCats FY2022 revenue $32M (+103% YoY); net loss from core gas boats $2.1M, electric segment $3.6M

Twin Vee PowerCats, Co.

Revenue $31.988M, up 103% from $15.774M in 2021.
Gross profit $10.657M vs $6.276M; net loss from core gas boats $2.144M, electric segment $3.578M.
Adjusted net loss $3.2M; adjusted net loss for core gas boats $135K (non-GAAP).
Cash and marketable securities $26.4M, no long-term debt; total assets $38.4M.
Operational: new models (400 GFX), 19 dealer additions, Mercury Marine agreement, LEAN manufacturing.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Twin Vee PowerCats, Co. reported the year ended December 31, 2022 results: revenue approximately $31,988,000, net income Net loss from operations of our core business, gas-powered boats, was approximately $2,144,000.

Period: the year ended December 31, 2022
Revenue: approximately $31,988,000
Net income: Net loss from operations of our core business, gas-powered boats, was approximately $2,144,000
Result: reported results

Exact text from the filing

facility upgrades and capital equipment in the past 12 months.” Year End 2022 Financial Highlights : ● Revenue for the year ended December 31, 2022 was approximately $31,988,000, representing a 103% increase compared to approximately $15,774,000 for the year ended December 31, 2021. ● Gross profit for the year ended December 31, 2022 was approximately

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Source: SEC EDGAR

accession 0001731122-23-000495

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