Forza X1 (FRZA) reports Q3 2023 cash of $15.3M; progressing electric boat orders

Twin Vee PowerCats, Co.

2024-Q3 EPS reported -$0.46 revenue$24,980,902

Cash, cash equivalents, and marketable securities of approximately $15.3M as of Sept 30, 2023.
Working capital of approximately $16.0M as of Sept 30, 2023.
OneWater Marine purchase order for 100 electric monohull units, ~$12M expected revenue.
Full construction underway at NC facility; 60,000 sq ft pad prepping for concrete, 500 boats annual capacity.
Successfully tested first 22-ft fully electrified dual console model; expects revenue from boat/motor sales in early 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Twin Vee PowerCats, Co. reported financial results for the quarter ended September 30, 2023.

Period: the quarter ended September 30, 2023
Result: reported results

Exact text from the filing

On November 6, 2023, Twin Vee PowerCats Co.’s subsidiary, Forza X1, Inc., issued a press release announcing its financial results for the quarter ended September 30, 2023.

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Source: SEC EDGAR

accession 0001731122-23-002030

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