---
schema_version: "secwatch.filing_event.v1"
accession: "0001731122-24-000805"
form_type: "8-K"
ticker: "VEEE"
cik: "0001855509"
company_name: "Twin Vee PowerCats, Co."
filed_at: "2024-05-15T23:59:59+00:00"
generated_at: "2026-06-01T23:36:40.073016+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Twin Vee PowerCats Q1 revenue down 41% to $5.28M; net loss widens to $2.34M

## Summary
- Revenue $5.276M, down 41% YoY from $8.877M.
- Consolidated net loss $2.335M, vs. $1.828M loss in prior year; includes Forza X1 loss of $1.168M.
- Gas-powered boat segment net loss $1.164M vs. net income $0.182M in prior year.
- Cash and marketable securities $17.381M, down from $21.218M at Dec 31, 2023.
- Company cites high interest rates reducing demand; reduced workforce and production.

## SEC filing metadata
- accession: 0001731122-24-000805
- form_type: 8-K
- ticker: VEEE
- cik: 0001855509
- company_name: Twin Vee PowerCats, Co.
- filed_at: 2024-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1855509/000173112224000805/0001731122-24-000805-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1855509/000173112224000805/e5674_8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001731122-24-000805
- JSON: https://secwatch.observer/filing/0001731122-24-000805.json
- Plain text: https://secwatch.observer/filing/0001731122-24-000805.txt

## Key facts
- Earnings Releases
  Twin Vee PowerCats, Co. reported three months ended March 31, 2024 results: revenue $5,276,343, net income net loss of $2,335,194.
  - Period: three months ended March 31, 2024
  - Revenue: $5,276,343
  - Net income: net loss of $2,335,194
  - Result: reported results
  source text: Twin Vee reported a 41% decline in consolidated revenue for the three months ended March 31, 2024, to $5,276,343 as compared to $8,877,215 in the same period in 2023. For the three months ended March 31, 2024, Twin Vee had a consolidated net loss of $2,335,194, as compared to a net loss of $1,828,465 in the prior year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855509/000173112224000805/0001731122-24-000805-index.htm

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