---
schema_version: "secwatch.filing_event.v1"
accession: "0001731122-23-000495"
form_type: "8-K"
ticker: "VEEE"
cik: "0001855509"
company_name: "Twin Vee PowerCats, Co."
filed_at: "2023-03-29T23:59:59+00:00"
generated_at: "2026-06-17T11:11:33.044912+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001731122-23-000495
- form_type: 8-K
- ticker: VEEE
- cik: 0001855509
- company_name: Twin Vee PowerCats, Co.
- filed_at: 2023-03-29T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1855509/000173112223000495/0001731122-23-000495-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1855509/000173112223000495/e4545_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001731122-23-000495
- JSON: https://secwatch.observer/filing/0001731122-23-000495.json
- Plain text: https://secwatch.observer/filing/0001731122-23-000495.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855509/000173112223000495/0001731122-23-000495-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.