Twin Vee PowerCats reports ‘strong start’ to FY25

Twin Vee PowerCats (VEEE) announced that early indicators from the first few weeks of the year suggest that the demand for Twin Vee’s products is rebounding from 2024 levels. Specifically, the Company has seen a noticeable uptick in orders and market activity after a sluggish Q4 last year. “Q4 2024 marked the slowest demand for our products since Twin Vee became publicly traded on the Nasdaq,” remarked Joseph Visconti, CEO. “The Company believes the slowdown resulted from a combination of factors, including economic policy shifts associated with ‘Bidenomics,’ the national election cycle, the ongoing elevated interest rates, and an overall sense of apprehension in the market. Since bringing on marine-industry veteran Shawn Erb as Twin Vee’s Director of Sales, we are signing new dealers who are placing orders with us. As a result of our dealer expansion efforts, deliveries of boats are expected to increase more than 50% in the first quarter of 2025 versus the number of boats we delivered in the fourth quarter of 2024, representing what we anticipate to be the first sequential increase in revenue in quite a while. We also anticipate further gains throughout the year.” According to Visconti, the improved 2025 outlook can also be attributed to Twin Vee’s field inventory reduction initiative. The Company’s field inventory peaked at approximately 110 units last year. To address this, Twin Vee worked diligently with dealers and customers to help sell boats and lower supply levels by approximately 40 percent, paving the way for dealers to replenish stock due to improved consumer demand. In addition to recruiting new Twin Vee dealers and actively reducing field inventory, Visconti believes that the marketplace is experiencing a tangible boost in confidence due to the incoming business-friendly Trump administration.