Twin Vee PowerCats Co

Twin Vee PowerCats Co. designs, manufactures, and sells recreational and commercial power catamaran boats. The firm is focused on designing and developing its products under ELECTRA Power Sports brand. The company was founded by Roger Dunshee in 1996 and is headquartered in Fort Pierce, FL.

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Twin Vee Powercats Co adapts to economic challenges, maintains resilience

Twin Vee Powercats Co navigated economic challenges in Q1 2024 by implementing operational efficiencies, introducing successful new boat models, and maintaining a strong balance sheet. Despite a net loss and decreased cash reserves, the company's strategic focus on cost control and product innovation bodes well for future growth.

Twin Vee Powercats Co tackles challenges, eyes growth opportunities post-merger

Twin Vee Powercats Co faced challenges in Q2 2024 but maintained positive gross margins and implemented cost control measures. The company's focus on innovation, growth initiatives, and the merger with Forza position it for future success amidst market uncertainties.
Strong brand recognition, customer loyalty, and confidence in navigating market conditions are key strengths for Twin Vee Powercats Co. Challenges include economic shifts and the need to maximize shareholder value amidst uncertainties.

Twin Vee PowerCats Co tackles challenges, eyes market rebound

Twin Vee PowerCats Co navigated challenges in Q3 2024 with a focus on cost management and operational optimization
Despite reduced sales and operational losses, the company is strategically positioning for a market rebound
With a cash position of $11.4 million, Twin Vee is proactively addressing challenges and exploring growth opportunities

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Twin Vee PowerCats Co. engages in the design, manufacture, and sale of recreational and commercial power catamaran boats. The firm is focused on designing and developing its products under the ELECTRA Power Sports brand. It operates through the following segments: Gas-Powered Boats, Electric Boat and Development, and Franchise. The Gas-Powered Boats segment manufactures boats that use fuel. The Electric Boat and Development segment designs fully electric boats through Forza X1 Inc. The Franchise segment deals with developing a standard product offering that is sold for franchise. The company was founded by Roger Dunshee in 1996 and is headquartered in Fort Pierce, FL.

FORT PIERCE, FL / ACCESSWIRE / April 24, 2024 / Twin Vee PowerCats Co. (Nasdaq:VEEE), ("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport boats, today announced more details about its second-generation GFX model line (or GFX-2 for short). "Building upon the success of our GFX boats, Twin Vee has designed the next evolution of the GFX to include all-new equipment, amenities, and features that all come standard with our entire model line," stated Joseph Visconti, CEO and President of Twin Vee PowerCats Co. "We're manufacturing the GFX-2 to include newly designed and integrated upgrades to elevate our customer's experience on the water.

Twin Vee PowerCats Co. Details the Standards to Be Included in Its All-New Second Generation GFX Model Line

FORT PIERCE, FL / ACCESSWIRE / April 23, 2024 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport boats, today announced that it hired industry veteran Thomas Morford as its Director of National Sales to support its continued growth and enhance its presence in key national markets and other territories. Mr. Morford's new position is effective immediately.

Twin Vee PowerCats Co. Hires Tom Morford as Director of National Sales

FORT PIERCE, FL / ACCESSWIRE / April 5, 2024 / Twin Vee PowerCats Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a designer, manufacturer, and distributor of recreational and commercial power boats, today announced the appointment of Michael P. Dickerson as its Chief Financial & Administrative Officer, effective April 4, 2024.

Twin Vee PowerCats Co. Appoints Michael P. Dickerson as New Chief Financial & Administrative Officer

FORT PIERCE, FL / ACCESSWIRE / April 4, 2024 / Twin Vee PowerCats Co. (NASDAQ:VEEE),("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport boats, today announced the launch of the all-new second generation of its GFX model line that features a multitude of design, styling, and technological innovations that is expected elevate the Twin Vee brand above its competitors as well as the impressive legacy of the first-generation of GFX boats. The second generation of the GFX model line, or GFX-2 for short, will feature five lengths ranging in size from 24 feet to 40 feet in length.

Twin Vee PowerCats Co. Launches Next Generation of Its Successful GFX Model Line: The Best Riding Boat Just Got Smarter

Twin Vee PowerCats Co. (VEEE) Q4 2023 Earnings Call Transcript

Forza X1 Inc

FORT PIERCE, FL / ACCESSWIRE / March 26, 2024 / Twin Vee PowerCats Co. (NASDAQ:VEEE) ("Twin Vee" or the "Company"), a designer, manufacturer and distributor of recreational and commercial power boats, today reported operational 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 PowerCats Co. Reports 4% Increase in Revenue for the Year Ended December 31, 2023

(This release corrects the release that was posted earlier on March 19, 2024 to clarify that Twin Vee PowerCats Co.'s conference call and audio webcast will be held at 12:00 pm (Eastern Time) on Tuesday, March 26, 2024.) FORT PIERCE, FL / ACCESSWIRE / March 19, 2024 / Twin Vee PowerCats, Co. (NASDAQ:VEEE),("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport catamaran boats, will host a conference call and audio webcast on Tuesday, March 26, 2024, at 12:00 p.m.

CORRECTION: Twin Vee PowerCats Co. Announces Year End 2023 Earnings Call on March 26 at 12:00 pm Eastern

FORT PIERCE, FL / ACCESSWIRE / March 19, 2024 / Twin Vee PowerCats, Co. (Nasdaq:VEEE),("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport catamaran boats, will host a conference call and audio webcast on Tuesday, March 26, 2024, at 10:00 a.m. (Eastern Time) to discuss and answer questions about the Company's operational and financial highlights for Year End 2023.

Twin Vee PowerCats Co. Announces Year End 2023 Earnings Call on March 26

FORT PIERCE, FL / ACCESSWIRE / March 18, 2024 / Forza X1, Inc. (NASDAQ:FRZA) ("Forza," the "Company"), a developer of electric sport boats aimed at promoting sustainable recreational boating, announced last week the appointment of Joseph Visconti as the Company's Interim Chief Executive Officer and Daniel Norton as the Company's President, effective immediately. They replace Jim Leffew, who notified the Company of his resignation on March 6th.

Forza X1, Inc. Names Joseph Visconti as Interim CEO and Daniel Norton as President

FORT PIERCE, FL / ACCESSWIRE / March 15, 2024 / Twin Vee PowerCats Co. (NASDAQ:VEEE),("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport boats, today announced a significant expansion of its authorized dealer network with the addition of Maz Boats as its exclusive dealer for Dubai, United Arab Emirates (UAE) and other Gulf Cooperation Council countries like Kuwait, Saudi Arabia, Oman, and Qatar. This new partnership marks the first time in its nearly thirty-year history that Twin Vee products will be sold in the Middle East and underscores the Company's dedication to growing its market share internationally and tapping into the demand for high-quality marine vessels in the region.

Twin Vee PowerCats Co. Expands Dealership Network to Middle East with Latest Partnership with Maz Boats

FORT PIERCE, FL / ACCESSWIRE / March 13, 2024 / Twin Vee PowerCats Co. (Nasdaq:VEEE),("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport boats, today announced its upcoming dealer meeting on May 19-20, 2024, at The Ben Hotel in West Palm Beach, Florida. The annual event will bring together representatives from Twin Vee's nationwide dealer network to unveil the Company's Model Year 2025 offerings.

Twin Vee PowerCats Co. Announces Dealer Meeting in May to Launch Model Year 2025 Product Line That Includes 280 Autonomous Super Boat and 280 Dual Console

FORT PIERCE, FL / ACCESSWIRE / February 1, 2024 / Twin Vee PowerCats Co. (Nasdaq:VEEE),("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport boats, today announced that engineers from Avikus Co., Ltd. have arrived at Twin Vee's Fort Pierce, Florida facility to begin work on their partnership intended to create the world's first autonomously equipped recreational sport boat company.

Twin Vee PowerCats Co. Announce Arrival of Avikus Engineers to Fort Pierce to Begin Work on Autonomous A.I. Technology Partnership

FORT PIERCE, FL / ACCESSWIRE / January 29, 2024 / Twin Vee PowerCats Co. (NASDAQ:VEEE) ("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport boats, today announced organizational realignment initiatives intended to streamline the Company's size and complexity while leveraging its resources to design and build new boat models and grow its dealer base. As a result of these initiatives, the Company expects to reduce overhead costs and rightsize its operations based on demand as it heads into the 2025 model year in a few months.

Twin Vee PowerCats Co. Announces Internal Measures to Reduce Costs While Continuing Its Growth Efforts

SEOUL, SOUTH KOREA and FORT PIERCE, FL / ACCESSWIRE / January 11, 2024 / Forza X1, Inc. (NASDAQ:FRZA) ("Forza", the "Company"), a developer of electric sport boats, revealed yesterday that it entered a groundbreaking partnership with Avikus Co., Ltd. (a startup specializing in autonomous navigation solutions, was established in December 2020 by H.D.

Avikus, Forza X1, Inc. and Twin Vee PowerCats Co. Announce Plans for the Future of Recreational Boating with Autonomous A.I. Technology Partnership

SEOUL, SOUTH KOREA and FORT PIERCE, FL / ACCESSWIRE / January 10, 2024 / Twin Vee PowerCats Co. (Nasdaq:VEEE),("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport boats, and Avikus Co., Ltd. (a startup specializing in autonomous navigation solutions, was established in December 2020 by H.D.

Avikus and Aquasport Boats Announce Plans for the Future of Recreational Boating with Autonomous A.I. Technology Partnership

FORT PIERCE, FL / ACCESSWIRE / December 13, 2023 / Twin Vee PowerCats Co. (NASDAQ:VEEE),("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport boats, today announced the launch of three new boat models as it closes out the fourth quarter of 2023. The second-generation Twin Vee 400 GFX, the Aquasport 24 Center Console, and the Twin Vee 280 GFX Dual Console are the latest additions to the Company's diverse lineup of boats.

Twin Vee PowerCats Co. and AquaSport Co. Subsidiary Announce the Launch of Three New Boat Models as Company Continues Its Growth Strategy with Innovative Product Development

Twin Vee PowerCats Co. (NASDAQ:VEEE ) Q3 2023 Earnings Conference Call November 13, 2023 10:00 AM ET Company Participants Joseph Visconti - President and Chief Executive Officer Operator Welcome to the Twin Vee PowerCats Company Third Quarter 2023 Investor Call. As a reminder, this call is being recorded and all participants are in a listen-only mode.

Twin Vee PowerCats Co. (VEEE) Q3 2023 Earnings Call Transcript

FORT PIERCE, FL / ACCESSWIRE / November 13, 2023 / Twin Vee PowerCats Co. (Nasdaq:VEEE) ("Twin Vee" or the "Company"), a designer, manufacturer and distributor of recreational and commercial power boats, today reported operational highlights and financial results for the third quarter of fiscal year 2023. The Company is pleased to report an 8% increase in consolidated net revenue for the nine months ended September 30, 2023, to $24,980,902 as compared to $23,217,634 in the same period in 2022.

Twin Vee PowerCats Co. Reports an 8% Increase in Revenue for the Nine Months Ended September 30, 2023

FORT PIERCE, FL / ACCESSWIRE / November 8, 2023 / Twin Vee PowerCats Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport boats, today announced a strategic consolidation of its operations by moving the manufacturing of Aquasport products from Tennessee to its Fort Pierce, Florida facility. According to the Company, the decision is driven by the desire to increase efficiency and implement cost-saving initiatives throughout its brands.

Twin Vee PowerCats Co. Announces Move to Bring Aquasport Boat Production to Its Factory in Fort Pierce, Florida

FORT PIERCE, FL / ACCESSWIRE / November 6, 2023 / Twin Vee PowerCats, Co. (Nasdaq:VEEE), ("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport boats, will host a conference call and audio webcast on Monday, November 13, 2023, at 10:00 a.m. (Eastern Time) questions about the Company's operational and financial highlights for the third quarter of 2023.

Twin Vee PowerCats Co. Announces Third Quarter 2023 Earnings Call on November 13

FORT PIERCE, FL / ACCESSWIRE / October 16, 2023 / Twin Vee PowerCats, Co. (Nasdaq:VEEE),("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport boats, today announced that its subsidiary, AquaSport Co., is now shipping boats from its factory in White Bluff, Tennessee. Aquasport currently builds seven different models at its 150,000-square-foot manufacturing facility in Tennessee, ranging from 21-feet to 30-feet.

Twin Vee PowerCats Co. Announces Aquasport Has Begun Shipping Boats from the White Bluff, Tennessee Factory

Twin Vee PowerCats Co. (NASDAQ:VEEE ) Q2 2023 Earnings Conference Call August 14, 2023 8:00 AM ET Company Participants Joseph Visconti - President & CEO Jim Leffew - President & CEO, Forza X1, Inc. Carrie Gunnerson - CFO Conference Call Participants Josh Horowitz - Palm Ventures Raj Maheshwari - Charleston Capital Operator Welcome to the Twin Vee PowerCats Company Second Quarter 2023 Investor Call. As a reminder, this call is being recorded and all participants are in a listen-only mode.

Twin Vee PowerCats Co. (VEEE) Q2 2023 Earnings Call Transcript

FORT PIERCE, FL / ACCESSWIRE / August 14, 2023 / Twin Vee PowerCats Co. (Nasdaq:VEEE) ("Twin Vee" or the "Company"), a designer, manufacturer and distributor of recreational and commercial power boats, today reported operational highlights and financial results for the three and six months ended June 30, 2023. We are pleased to report an 18% increase in net revenue for the six months ended June 30, 2023, to $17,000,000 compared to $14,400,000 in the same period in 2022.

Twin Vee Powercats Co. Reports a 18% Increase in Revenue for the Six Months Ended June 30, 2023

FORT PIERCE, FL / ACCESSWIRE / August 7, 2023 / Twin Vee PowerCats, Co. (Nasdaq:VEEE),("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport boats, will host a conference call and audio webcast on Monday, August 14, 2023, at 10:00 a.m. (Eastern Time) questions about the Company's operational and financial highlights for the second quarter of 2023.

Twin Vee PowerCats Co. Announces Second Quarter 2023 Earnings Call on August 14

FORT PIERCE, FL / ACCESSWIRE / July 14, 2023 / Twin Vee PowerCats Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport catamaran boats, today announced the saltwater catamaran segment of the recreational marine industry continues to grow in the Northeast and Southeast United States since the segment experienced a record-breaking number of sales in 2021. Based on recent data received from Northeast and Southeast markets, sales of saltwater catamarans ranging in size from 24 to 40 feet in length have grown by approximately 7% from May 2022 to May 2023 compared to the previous rolling 12-month period.

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