{"schema_version":"secwatch.filing_event.v1","accession":"0001731122-23-000956","form_type":"8-K","ticker":"VEEE","cik":"0001855509","company_name":"Twin Vee PowerCats, Co.","filed_at":"2023-05-16T23:59:59+00:00","discovered_at":"2026-05-14T18:03:41.280739+00:00","generated_at":"2026-06-15T00:04:58.755342+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Twin Vee Q1 revenue up 51% to $8.9M; core gas-boat segment nets $182K income","bullets":["Revenue of $8.9M, up 51% YoY from $5.9M; gross profit of $3.2M vs $2.4M.","Core gas-powered boats segment net income of $182K vs loss of $626K in Q1 2022.","Consolidated net loss of $1.8M due to majority-owned Forza X1 electric boat unit loss of $2.0M.","Core business cash and securities $12.6M; total consolidated cash $23.5M.","Conference call at 12:00 PM ET May 15; dial-in 1-877-407-3982 ID 13738651."],"urls":{"canonical":"https://secwatch.observer/filing/0001731122-23-000956","json":"https://secwatch.observer/filing/0001731122-23-000956.json","markdown":"https://secwatch.observer/filing/0001731122-23-000956.md","text":"https://secwatch.observer/filing/0001731122-23-000956.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1855509/000173112223000956/0001731122-23-000956-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1855509/000173112223000956/e4720_8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T00:04:58.755342+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0fb191058ccb4ebc241809e86a7c1774aad21831","claim":"Twin Vee PowerCats, Co. reported the three months ended March 31, 2023 results: revenue $8.9 million, net income total net loss of $1.8 million.","evidence_excerpt":"We are pleased to report a 51% increase in net revenue for the three months ended March 31, 2023 to $8.9 million compared to $5.9 million in the same period in 2022, and net income of $181 thousand for our gas powered boats reportable segment for the three months ended March 31, 2023, compared to a net loss of $626 thousand for the same period in 2022. The total net loss of $1.8 million for the three months ended March 31, 2023 is a direct reflection of Twin Vee’s majority ownership in Forza X1, Inc. (Nasdaq: FRZA), the electric boat company in which we own a majority stake and Twin Vee’s requirement to file consolidated financial statements in accordance to GAAP accounting policy.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1855509/000173112223000956/0001731122-23-000956-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the three months ended March 31, 2023"},{"label":"Revenue","value":"$8.9 million"},{"label":"Net income","value":"total net loss of $1.8 million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}