Twin Vee PowerCats Co. (VEEE) shares were up more than 34% Monday after the boat maker reported first-quarter results that showed steady revenue growth and a fresh product push.
Revenue for the quarter rose about 10% from a year ago, marking the fourth consecutive quarter of annual growth. It also climbed 31% from the fourth quarter of 2025. That's the kind of momentum investors like to see, especially from a smaller player in the marine industry.
The net loss widened to $2.09 million from $1.6 million in the same quarter last year. But adjusted EBITDA loss improved 11% year over year to $776,000, which works out to a monthly cash burn of roughly $259,000. The company said results included about $1.3 million in non-cash and one-time charges tied to inventory adjustments, product development, and field inventory management.
Cash and cash equivalents increased by more than $4 million from the fourth quarter, helped by equity raises that funded growth initiatives, product launches, and working capital needs.
On the operational side, Twin Vee relaunched its Bahama Boat Works brand at the Palm Beach International Boat Show. The company introduced new 21-foot and 23-foot models alongside its existing lineup of 35-foot, 37-foot, and 41-foot vessels. It also delivered its first Bahama 35-foot boat, built at the company's own manufacturing facility.
Twin Vee PowerCats shares were trading at $8.00 at the time of publication Monday, up 34.45%.
