---
schema_version: "secwatch.filing_event.v1"
accession: "0001731122-24-000510"
form_type: "8-K"
ticker: "VEEE"
cik: "0001855509"
company_name: "Twin Vee PowerCats, Co."
filed_at: "2024-03-27T23:59:59+00:00"
generated_at: "2026-06-04T07:23:33.003197+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Twin Vee PowerCats FY2023 revenue up 4% to $33.4M, net loss widens to $7.2M consolidated

## Summary
- Revenue $33.4M (+4% YoY); Twin Vee standalone net loss $2.35M vs $2.14M prior year.
- Consolidated net loss $7.19M, driven by Forza X1 loss of $5.93M vs $3.63M prior year.
- Cash and marketable securities $21.2M consolidated; core gas-powered cash $8.4M.
- Aquasport monohull division posted net loss of $1.48M.
- CEO cites rising rates, lower demand; focusing on cost control and new model launches.

## SEC filing metadata
- accession: 0001731122-24-000510
- form_type: 8-K
- ticker: VEEE
- cik: 0001855509
- company_name: Twin Vee PowerCats, Co.
- filed_at: 2024-03-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1855509/000173112224000510/0001731122-24-000510-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1855509/000173112224000510/e5528_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001731122-24-000510
- JSON: https://secwatch.observer/filing/0001731122-24-000510.json
- Plain text: https://secwatch.observer/filing/0001731122-24-000510.txt

## Key facts
- Earnings Releases
  Twin Vee PowerCats, Co. reported the fiscal year ended December 31, 2023 results: revenue $33,426,000, net income net loss of $2,348,000.
  - Period: the fiscal year ended December 31, 2023
  - Revenue: $33,426,000
  - Net income: net loss of $2,348,000
  - Result: reported results
  source text: highlights and financial results for fiscal year ended December 31, 2023. Highlights for fiscal year 2023 : · Revenue for the year ended December 31, 2023 increased 4% to $33,426,000 as compared to $31,988,000 in 2022. · Twin Vee had a net loss of $2,348,000 for the year ended December 31, 2023, as compared to a net loss of $2,144,000 in 2022. · Aquasport had
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855509/000173112224000510/0001731122-24-000510-index.htm

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