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 / October 25, 2022 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport catamaran boats, today announced that it has hired industry veteran Zachary Crane as its Director of National Sales to support its continued growth and enhance its presence in key national markets and other territories. Mr. Crane's new position is effective immediately.

Zach Crane Joins Twin Vee PowerCats Co. as Director of National Sales

FORT PIERCE, FL / ACCESSWIRE / October 20, 2022 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport catamaran boats, today announced that it will be participating in The ThinkEquity Conference, which will take place on October 26, 2022 at The Mandarin Oriental Hotel in New York. The ThinkEquity Conference gathers industry insiders, investors, and leading executives from around the world.

Twin Vee PowerCats Co. Attending ThinkEquity Conference on October 26

FORT PIERCE, FL / ACCESSWIRE / October 3, 2022 / Twin Vee PowerCats Co. (Nasdaq:VEEE) ("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport catamaran boats, today announced the closing of its previously announced public offering of 2,500,000 shares of its common stock at a public offering price of $2.75 per share, for gross proceeds of $6,875,000, before deducting underwriting discounts and offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 375,000 shares of common stock to cover over-allotments, if any, at the public offering price, less underwriting discounts and commissions.

Twin Vee PowerCats Co. Announces Closing of Public Offering

FORT PIERCE, FL / ACCESSWIRE / September 28, 2022 / Twin Vee PowerCats Co. (NASDAQ:VEEE) ("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport catamaran boats, today announced the pricing of its underwritten public offering of 2,500,000 shares of its common stock at a public offering price of $2.75 per share, for gross proceeds of $6,875,000, before deducting underwriting discounts, commissions and offering expenses. All of the shares of common stock are being offered by the Company.

Twin Vee PowerCats Co. Announces Pricing of Public Offering

FORT PIERCE, FL / ACCESSWIRE / September 28, 2022 / Twin Vee PowerCats Co. (Nasdaq:VEEE) ("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport catamaran boats, today announced that it intends to offer to sell shares of its common stock in an underwritten public offering. All of the shares of common stock are to be sold by the Company.

Twin Vee PowerCats Co. Announces Proposed Public Offering of Common Stock

Twin Vee Powercats Co. (NASDAQ:VEEE ) Q2 2022 Results Conference Call August 11, 2022 4:30 PM ET Company Participants Joseph Visconti - CEO Carrie Gunnerson - CFO Operator Good day, and welcome to the Twin Vee Powercats Co. Second Quarter 2022 Investor Call. As a reminder, this call is being recorded, and all participants are in a listen-only mode.

Twin Vee Powercats Co. (VEEE) CEO Joseph Visconti on Q2 2022 Results - Earnings Call Transcript

The stock price of Twin Vee Powercats (VEEE) surged by over 65% during intraday trading today. This is why.

Twin Vee Powercats (VEEE) Stock: Why It Skyrocketed Over 65% Today

FORT PIERCE, FL / ACCESSWIRE /, August 12, 2022 / Twin Vee PowerCats Co. (NASDAQ:VEEE) ("Twin Vee" or the "Company"), a designer, manufacturer, distributor, and marketer of power sport catamaran boats, today reported operational highlights and financial results for the second quarter of fiscal 2022. "We are pleased to report a 158% increase in net revenue for the three months ended June 30, 2022, compared to 2021, while also adding additional models to our lineup and expanding our dealer network.

Twin Vee Powercats Co. Reports a 158% Increase in Revenue, Adjusted Net Profits Of $607,000 for Its Gas-Powered Division for the Second Quarter of 2022

FORT PIERCE, FL / ACCESSWIRE / August 11, 2022 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company") has rescheduled its conference call and audio webcast to Friday, August 12, 2022, at 11:00 a.m. (Eastern Time).

Twin Vee PowerCats Co. Reschedules Second Quarter 2022 Earnings Call to 11 A.M. on August 12, 2022

FORT PIERCE, FL / ACCESSWIRE / August 5, 2022 / 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 Thursday, August 11, 2022, at 4:30 p.m. (Eastern Time) to discuss and answer questions about the Company's operational and financial highlights for the second quarter of 2022.

Twin Vee PowerCats Co. Announces Second Quarter 2022 Earnings Call on August 11

FORT PIERCE, FL / ACCESSWIRE / July 29, 2022 / During a press conference yesterday with North Carolina Governor Roy Cooper, Twin Vee PowerCats, Co. (NASDAQ:VEEE) ("Twin Vee" or the "Company"), announced that Forza X1, Inc. ("Forza X1"), Twin Vee's wholly-owned EV subsidiary, would obtain incentives from the North Carolina Department of Commerce and the McDowell County local government to establish its electric boat manufacturing operations in McDowell County, North Carolina. Jim Leffew, President and CEO of Forza X1, lead the efforts with state and local entities, which resulted in selecting the site in McDowell County.

Twin Vee PowerCats and Wholly-Owned EV Subsidiary Forza X1 Make Joint Announcement with North Carolina Governor Roy Cooper to Build Large Scale Electric Boat Factory in McDowell County, NC

FORT PIERCE, FL / ACCESSWIRE / July 12, 2022 / Twin Vee PowerCats Co. (NASDAQ:VEEE) ("Twin Vee" or the "Company"), a designer, manufacturer, distributor, and marketer of power sport catamaran boats, today announced that its all-new, all-composite, 26-foot Go Fish X (GFX) center console and 40-foot center console GFX sport boats are now in full production and have officially been added to the Company's expanding model line. Twin Vee's 400 GFX out in the water in Stuart, Florida A part of the Twin Vee team in front of the first 400 GFX at the Company's headquarters in Fort Pierce, FL Twin Vee's All-New 260 GFX on the water Initial designs for Twin Vee's 260 GFX were originally released last October before the Fort Lauderdale International Boat Show.

Twin Vee PowerCats Co. Launches Production of Two New Models: The All-New 400 GFX and 260 GFX

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FORT PIERCE, FL / ACCESSWIRE / July 7, 2022 / Twin Vee PowerCats Co. (Nasdaq:VEEE) ("Twin Vee" or the "Company"), a designer, manufacturer, distributor, and marketer of power sport catamaran boats, today announced that Kevin Schuyler was appointed to its Board of Directors on July 6, 2022. He replaces Steven Shallcross, who stepped down on June 30th.

Twin Vee PowerCats Co.'s Board of Directors Appoints Kevin Schuyler as Newest Director

Twin Vee Powercats Co. (NASDAQ:VEEE ) Q1 2022 Earnings Conference Call May 12, 2022 4:00 PM ET Company Participants Joseph Visconti - Chairman, President & CEO Carrie Gunnerson - CFO Conference Call Participants Brian Carstens - ThinkEquity Bank Keith Van Allen - Private Investor Operator Welcome to the Twin Vee Powercats Co. First Quarter 2022 Investor Call. As a reminder, this call is being recorded, and all participants are in a listen-only mode.

Twin Vee Powercats Co. (VEEE) CEO Joseph Visconti on Q1 2022 Results - Earnings Call Transcript

FORT PIERCE, FL / ACCESSWIRE / May 12, 2022 / Twin Vee PowerCats Co. (NASDAQ:VEEE) ("Twin Vee" or the "Company"), a designer, manufacturer, distributor, and marketer of power sport catamaran boats, today reported operational highlights and financial results for the three months ended March 31, 2022. "We are pleased to report an 83% increase in net revenue for the three months ended March 31, 2022, compared to 2021," said Joseph Visconti, CEO of Twin Vee PowerCats Co. "We continue to experience a strong demand for our products.

Twin Vee PowerCats Co. Reports a 83% Increase in Revenue for First Quarter of 2022

FORT PIERCE, FL / ACCESSWIRE / May 5, 2022 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a manufacturer of recreational and commercial power catamaran boats, will host a conference call and audio webcast on Thursday, May 12, 2022 at 4:00 p.m. (Eastern Time) to discuss and answer questions about the Company's operational and financial highlights for the first quarter of 2022.

Twin Vee PowerCatsCo. to Hold First Quarter 2022 Earnings Call on May 12

FORT PIERCE, FL / ACCESSWIRE / March 30, 2022 / Twin Vee PowerCats Co. (Nasdaq:VEEE) ("Twin Vee" or the "Company"), a designer, manufacturer, distributor, and marketer of recreational and commercial power catamaran boats, today reported operational highlights and financial results for the year ended December 31, 2021. "We are pleased to report a 43% increase in top line revenue for the year ended December 31, 2021, compared to 2020, and continue to be encouraged by our strong backlog of orders" said Joseph Visconti, CEO of Twin Vee PowerCats Co. "We continued to strengthen our performance throughout 2021 thanks to robust demand for our products.

Twin Vee Powercats Co. Reports a 43% Increase in Revenue for the Year Ended December 31, 2021

FORT PIERCE, FL / ACCESSWIRE / March 24, 2022 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a manufacturer of recreational and commercial power catamaran boats, will host a conference call and audio webcast on Wednesday, March 30, 2022, at 4:00 p.m. (Eastern Time) to discuss and answer questions about the Company's operational and financial highlights for the fourth quarter of 2021.

Twin Vee PowerCats Co. to Host Fourth Quarter 2021 Earnings Call on March 30

FORT PIERCE, FL / ACCESSWIRE / February 9, 2022 / Twin Vee PowerCats, Co. (NASDAQ:VEEE) ("Twin Vee" or the "Company"), is set to attend the Discover Boating Miami International Boat Show from February 16 - 20, 2022 at the Sea Isle Marina & Yachting Center located at 1635 N Bayshore Dr, Miami, FL 33132, located at the end of Pier 2 in the Suzuki Marine slips. There, Twin Vee will be displaying two of its latest Go Fish X (GFX) models: the 340 GFX and the 280 GFX.

Twin Vee PowerCats will Showcase Its New 340 GFX and 280 GFX at the Miami Boat Show February 16 - 20

FORT PIERCE, FL / ACCESSWIRE / January 10, 2022 / Twin Vee PowerCats, Co. (NASDAQ:VEEE) ("Twin Vee" or the "Company"), announced that Forza X1, Inc. ("Forza X1"), the Company's wholly-owned EV subsidiary, has signed a five-year supply agreement with Michigan-based company American Battery Solutions ("ABS") for production-grade, 52 kWh, high-powered lithium-ion batteries that will be used to power Forza X1's electric boats. ABS is a team of battery system experts with decades of experience in designing, developing, and manufacturing advanced battery systems for the transportation industry, with OEM customers across the commercial and industrial segments.

Twin Vee PowerCats Wholly Owned Subsidiary Forza X1 and American Battery Solutions Sign a 5-year Agreement to Supply Forza X1's New Electric Boats with High-Powered, Lithium-ion Battery Packs

The company's subsidiary is in process to IPO at a potential valuation that could dwarf existing market cap. This IPO is still under the radar as the company did not issue a press release yet - this could happen any day now.

Twin Vee Powercats: Sailing Away With The Electric Revolution

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FORT PIERCE, FL / ACCESSWIRE / December 13, 2021 / Forza X1, Inc. ("Forza X1"), a wholly-owned EV subsidiary of Twin Vee PowerCats, Co. (NASDAQ:VEEE) ( "Twin Vee" or the "Company"), today released renderings of its first all-electric vehicle, to be named the ‘FX1'. "We are excited to share our current designs for our debut FX1 model with boat enthusiasts and those interested in purchasing a fully electric recreational boat," says Joseph Visconti, CEO of Twin Vee.

Twin Vee PowerCats EV Subsidiary Forza X1 Releases Initial Design Images of 100% Electric Boat the FX1

FORT PIERCE, FL / ACCESSWIRE / November 15, 2021 / Twin Vee PowerCats Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company") a designer, manufacturer, distributor, and marketer of recreational and commercial power catamaran boats, today reported operational highlights and financial results for the third quarter of fiscal 2021. We are reporting a 65% increase in top line revenue for the third quarter 2021 compared to the third quarter 2020 and are encouraged by the strong backlog for the remainder of the year," said Joseph Visconti, CEO of Twin Vee PowerCats Co. "We continued to strengthen our performance in the third quarter thanks to robust demand for our products as well as the impressive execution of our team to manage component shortages and other supply chain constraints.

Twin Vee PowerCats Co. Reports a 65% Increase in Revenue for the Third Quarter

FORT PIERCE, FL / ACCESSWIRE / November 10, 2021 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a manufacturer of recreational and commercial power catamaran boats, will host a conference call and audio webcast on Monday, November 15, 2021, at 4:30 p.m. (Eastern Time) to discuss and answer questions about the Company's operational and financial highlights for the third quarter of 2021.

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