Twin Vee PowerCats Co. Reports Third Quarter 2024 Results of Operations
Twin Vee PowerCats Co. Reports Third Quarter 2024 Results of Operations
Twin Vee continues to experience industry wide declining demand for recreational marine vehicles.FORT PIERCE, FL / ACCESSWIRE / November 14, 2024 / Twin Vee PowerCats Co. (Nasdaq:VEEE) ("Twin Vee" or the "Company"), a manufacturer of Twin Vee PowerCats and AquaSport boats known as offshore, family-friendly fishing boats from its factory in Fort Pierce, Florida, today reported operational highlights and financial results for the three months ended September 30, 2024.
FORt PIERCE, FL / ACCESSWIRE / 2024年11月14日 / Twin Vee PowerCats Co. (納斯達克:VEEE) ("Twin Vee" 或 "公司"), 是一家位於佛羅里達州Fort Pierce工廠的Twin Vee PowerCats和AquaSport船隻製造商，致力於生產遠洋、適合家庭垂釣的船隻。今天報告了截至2024年9月30日三個月的運營亮點和財務業績。
Highlights: (Unless otherwise noted, all comparisons are to the three months ended September 30, 2023, "Q1" refers to the three months ended March 31, 2024, "Q2" refers to the three months ended June 30, 2024, "Q3" refers to the three months ended September 30, 2024, "Twin Vee" refers to the gas-powered segment, "Forza" refers to the electric boat and development segment, and "consolidated" refers to the consolidated results of Twin Vee PowerCats Co.)
亮點:（除非另有說明，所有比較均與截至2023年9月30日的三個月相比，「Q1」指的是截至2024年3月31日的三個月，「Q2」指的是截至2024年6月30日的三個月，「Q3」指的是截至2024年9月30日的三個月，「Twin Vee」指的是燃料幣段，「Forza」指的是電動船和發展部門，而「合併」指的是Twin Vee PowerCats Co.的合併業績。
Shareholders of both Twin Vee and Forza X1, Inc. (OTC: FRZA) voted in favor of the merger of these two entities.
Twin Vee continues to experience industry wide declining demand for recreational marine vehicles.
Proactive measures were taken to mitigate slowing demand challenges, including lowering production numbers, tightened financial controls, and a reduction in workforce.
Consolidated revenue for Q3 decreased by 64% to $2,901,000 from $8,077,000 in Q3 2023.
Consolidated holdings of cash, cash equivalents, restricted cash, and marketable securities totaled $11,358,000 at the end of Q3 as compared to $15,134,000 at the end of Q2.
Consolidated net loss for Q3, was $3,010,000, which includes Twin Vee's Q3 net loss of $2,114,000 and Forza X1 Q3 net loss of $896,000.
Twin Vee adjusted net loss was $1,402,000 or $467,000 per month in Q3.
Forza adjusted net loss was $427,000 or $155,000 per month in Q3.
The decrease in cash reserves was primarily due to the Twin Vee building expansion, new product development, merger related costs and operational cash losses from reduced revenue in the third quarter of 2024 and payments against vendor balances that had grown during the second quarter.
-
At September 30, 2024:
Consolidated total assets were $30,140,000.
Consolidated total equity was $23,208,000
Twin Vee和Forza X1, Inc. (場外交易: FRZA)的股東都同意這兩家公司的合併。
Twin Vee繼續經歷製造業寬泛的娛樂船隻需求下降。
採取了積極措施來應對下降需求的挑戰，包括降低生產量，加強財務控制，以及裁減工作人員。
Q3的合併營收從2023年Q3的$8,077,000下降了64%，降至$2,901,000。
Q3末，現金、現金等價物、受限現金和可市場銷售證券的合併持有額爲$11,358,000，而Q2末爲$15,134,000。
Q3的合併淨損失爲$3,010,000，其中包括Twin Vee的Q3淨損失$2,114,000和Forza X1的Q3淨損失$896,000。
Twin Vee調整後的淨損失爲$1,402,000，每月爲$467,000，在Q3。
Forza調整後的淨損失爲$427,000，每月爲$155,000，在Q3。
現金儲備下降主要是由於Twin Vee大樓擴建、新產品開發、合併相關成本以及第四季度2024年收入減少和在第二季度增加的供應商餘額的營運現金虧損。
-
2024年9月30日：
合併總資產爲$30,140,000。
合併總股權爲$23,208,000
"The recreational marine industry has continued to be challenged by declining customer demand. The recent Fort Lauderdale International Boat Show was well-attended and Twin Vee had several models on display, with dealers reporting several sales and leads resulting from the show. Further, the results of the recent election are now behind us removing one uncertainty in the market, and in recent days, the Federal Reserve reduced interest rates by one quarter point. While this interest rate reduction by itself is not significant, we believe the directional move is an important signal to the market," explained Joseph Visconti, Chief Executive Officer of Twin Vee PowerCats Co.
「娛樂航海行業由於客戶需求下降而持續受到挑戰。最近的FT.勞德代爾堡國際船展參與者衆多，Twin Vee展示了幾種機型，經銷商表示展會帶來了多次銷售和線索。此外，最近的選舉結果已經過去，消除了市場中的一個不確定因素，最近幾天，聯邦儲備降低了利率四分之一。儘管單獨的利率降低並不重要，我們認爲這一方向性舉措對市場是一個重要信號，」 Twin Vee PowerCats Co.的首席執行官Joseph Visconti解釋道。
"During the third quarter we again took steps to right-size the labor force while also tightly controlling operating costs. At the same time, we are using this slower period to lay the groundwork for the next market upswing. Twin Vee is investing in new models and expanding our Fort Pierce, FL manufacturing facility to increase production capacity and create a more efficient factory layout. We are also investing in vertical integration and efficiency by adding a state-of-the-art CNC machine into our manufacturing process. This will save on costs associated with outsourcing and enhance the quality of the boat molds we use to build our products."
「在第三季度，我們再次採取措施來調整勞動力規模，同時嚴格控制營業費用。與此同時，我們利用這個較慢的時期爲下一個市場升勢奠定基礎。Twin Vee正在投資於新型號，並擴建我們在佛羅里達州Fort Pierce的製造廠，以提高產能並創建更高效的工廠佈局。我們還通過在製造過程中添加最先進的CNC機牀來投資於垂直整合和效率。這將節省外包成本，並增強我們用於建造產品的船模的質量。」
Twin Vee reported a 64% decline in revenue for the three months ended September 30, 2024, to $2,901,000 as compared to $8,058,000 in the same period in 2023. For the three months ended September 30, 2024, Twin Vee had a net loss of $2,114,000, as compared to a net loss of $1,393,000 in the prior year.
Twin Vee報告，截至2024年9月30日三個月的營業收入下降了64%，爲290.1萬美元，而2023年同期爲805.8萬美元。截至2024年9月30日三個月，Twin Vee淨損失爲211.4萬美元，而去年同期爲139.3萬美元。
Forza had a net loss of $896,000 for the three months ended September 30, 2024, compared to a net loss of $1,046,000 for the comparable period in 2023.
Forza截至2024年9月30日爲期三個月的淨損失爲89.6萬美元，而2023年同期爲104.6萬美元。
The consolidated net loss attributed to stockholders of Twin Vee was $2,512,000 for the three months ended September 30, 2024, compared to $1,862,000 for the comparable period in 2023. Generally Accepted Accounting Principles ("GAAP") require Twin Vee to file consolidated financial statements based on Twin Vee's controlling interest in Forza X1, Inc. (Nasdaq: FRZA).
Twin Vee歸屬於股東的綜合淨虧損爲2024年9月30日爲期三個月的251.2萬美元，而2023年同期爲186.2萬美元。通用會計準則(GAAP)要求Twin Vee根據其對Forza X1, Inc. (納斯達克: FRZA)的控股權利進行合併財務報表申報。
Michael P. Dickerson, Chief Financial & Administrative Officer added, "The entire team is focused on reducing our operational cash burn by driving sales and reducing operating costs, while continuing to make smart investments in infrastructure, product development, and other revenue generating opportunities. While there can be no assurances, our goal is to achieve a run rate of a consolidated adjusted net loss of $400,000 on a monthly basis as we exit the first quarter of 2025."
Michael P. Dickerson，致富金融(臨時代碼)及行政官員，表示"整個團隊致力於通過推動銷售、降低營業費用，同時繼續在基礎設施、產品開發和其他營收機會上進行明智投資，來降低我們的運營現金消耗。雖然不能保證，但我們的目標是在2025年第一季度結束時以每月40萬美元的合併調整淨虧損率運行。"
Conference Call
電話會議
Joseph Visconti, Chief Executive Officer and Michael P. Dickerson, Chief Financial & Administrative Officer, will hold a conference call today, Thursday November 14, 2024, at 12:00 p.m. (Eastern). To listen to the conference call, interested parties should dial-in 1-877-407-3982 and use Conference ID 13749913. All callers should dial in approximately 10 minutes prior to the scheduled start time and ask to join the Twin Vee conference call.
首席執行官Joseph Visconti和首席財務及行政官Michael P. Dickerson將於2024年11月14日星期四下午12:00舉行電話會議。要收聽電話會議，感興趣的各方應撥打1-877-407-3982並使用會議ID 13749913。所有參與者應在計劃開始時間前約10分鐘撥入並要求參加Twin Vee電話會議。
The conference call will also be available through a live audio webcast that can be accessed at the LINK HERE.
電話會議還將通過可以在此處訪問的現場音頻網絡廣播提供。
The Company's complete financial statements are being filed today with the Securities and Exchange Commission and can be accessed via .
公司的完整財務報表今天已向證券交易委員會提交，並可通過鏈接進行訪問。
About Twin Vee PowerCats Co.
關於Twin Vee PowerCats Co.
Twin Vee PowerCats Co. manufactures Twin Vee and AquaSport branded boats designed for activities including fishing, cruising, and recreational use. Twin Vee PowerCats are recognized for their stable, fuel-efficient, and smooth-riding catamaran hull designs. Twin Vee is one of the most recognizable brand names in the catamaran sport boat category and is known as the "Best Riding Boats on the Water." The Company is located in Fort Pierce, Florida, and has been building and selling boats for nearly 30 years. Learn more at twinvee.com.
Twin Vee PowerCats Co.製造帶有Twin Vee和AquaSport品牌的船隻，設計用於釣魚、巡航和休閒等活動。Twin Vee PowerCats以其穩定、燃油高效和平穩航行的雙體船設計而聞名。Twin Vee是雙體運動船類別中最知名的品牌之一，被譽爲"水上最佳乘船船隻"。該公司位於佛羅里達州Fort Pierce，並已經建造和銷售船隻近30年。了解更多信息，請訪問twinvee.com。
Forward Looking Statements
前瞻性聲明
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements and include statements regarding taking actions to mitigate slowing demand challenges, the Federal Reserve's recent interest rate reduction being an important signal to the market, taking steps to right-size the Company's labor force while tightly controlling operating costs, laying the groundwork for the next market upswing, investing in new models and expanding the Fort Pierce, FL manufacturing facility to increase production capacity and create a more efficient factory layout, adding a state-of-the-art CNC to bring the tooling of brand-new boat models in house, saving costs associated with outsourcing and enhancing the quality of the boat molds the Company uses to build its products, reducing operational cash burn by driving sales and reducing while making smart investments in infrastructure, product development and other revenue generating opportunities and achieving a run rate of a consolidated adjusted net loss of $400,000 on a monthly basis as the Company exits the first quarter of 2025. These forward-looking statements are based on management's expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict, that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to lay the groundwork for the next market upswing and reduce operational cash burn while continuing to invest in infrastructure, product development and other revenue generating investments, and the risk factors described in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and the Company's subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events, except as required by law.
本新聞稿包含根據1995年《證券訴訟改革法案》的安全港規定確定的某些前瞻性聲明。這些聲明通過使用"能夠"、"相信"、"預測"、"有意"、"估計"、"期望"、"可能"、"持續"、"預測"、"潛在"、"計劃"等表達方式進行識別，旨在確定前瞻性聲明，幷包括有關採取行動以減輕需求減緩挑戰、聯儲局最近的利率降低對市場的重要信號、採取措施來權衡公司的勞動力規模，同時嚴格控制營業成本、爲下一輪市場回升打下基礎、投資於新型號並擴展佛羅里達州Fort Pierce的製造設施以增加產能並創建更高效的工廠佈局、增加一臺先進的數控機牀，將全新船型的工裝內部化，節約外包造船模具相關成本並提升公司用於製造產品的船型的質量、通過推動銷售和減少來降低運營現金燃燒，同時在基礎設施、產品開發和其他產生營收的機會上做出明智的投資，使調整後的合併淨虧損在2025年第一季度結束時達到40萬美元/月的運行速率等方面的聲明。這些前瞻性聲明基於本新聞稿日期的管理層的期望和假設，並受到許多難以預測的風險和不確定性的影響，這些風險和不確定性可能導致實際結果與當前期望和假設存在實質差異，與制定或暗示的任何前瞻性聲明。可能導致實際結果與當前期望存在實質差異的重要因素包括但不限於，公司在繼續投資於基礎設施、產品開發和其他產生收入的投資的同時，爲下一輪市場回升打下基礎和減少運營現金燃燒的能力，以及公司年度報告10-k中描述的風險因素，截至2023年12月31日的年度報告，以及公司接下來向證券交易委員會提交的文件，包括隨後的10-Q和8-k表格。此發佈中的信息僅截至此發佈日期提供，公司不承擔更新或公開修訂任何前瞻性聲明的義務，除非有新信息、未來事件或其他情況發生，這些情況是在作出或反映前述聲明的日期之後發生的或反映的，或者法律另有規定。
CONTACT:
聯繫人：
Glenn Sonoda
investor@twinvee.com
Glenn Sonoda
投資者服務郵箱：investor@twinvee.com。
(Tables Follow)
（表格如下）
September 30, |
December 31, |
% |
||||||||||||||
2024 |
2023 |
Change |
Change |
|||||||||||||
Cash and cash equivalents |
$ |
11,144,929 |
$ |
16,497,703 |
$ |
(5,352,774) | (32.4%) | |||||||||
Restricted cash |
$ |
212,963 |
$ |
257,530 |
$ |
(44,567) | (17.3%) | |||||||||
Current assets |
$ |
15,378,981 |
$ |
26,646,318 |
$ |
(11,267,337) | (42.3%) | |||||||||
Current liabilities |
$ |
3,843,294 |
$ |
4,216,345 |
$ |
(373,051) | (8.8%) | |||||||||
Working capital |
$ |
11,535,687 |
$ |
22,429,973 |
$ |
(10,894,286) | (48.6%) | |||||||||
9月30日, |
2023年12月31日, |
% |
||||||||||||||
2024 |
2023 |
變化 |
變化 |
|||||||||||||
現金及現金等價物 |
$ |
11,144,929 |
$ |
16,497,703 |
$ |
(5,352,774) | (32.4%) | |||||||||
受限現金 |
$ |
212,963 |
$ |
257,530 |
$ |
(44,567) | (17.3%) | |||||||||
流動資產 |
$ |
15,378,981 |
$ |
26,646,318 |
$ |
(11,267,337) | (42.3%) | |||||||||
流動負債 |
$ |
3,843,294 |
$ |
4,216,345 |
$ |
(373,051) | (8.8%) | |||||||||
流動資金 |
$ |
11,535,687 |
$ |
22,429,973 |
$ |
(10,894,286) | (48.6%) | |||||||||
Three Months Ended September 30, |
||||||||||||||||
2024 |
2023 |
$ Change |
% Change |
|||||||||||||
Net sales |
$ |
2,901,318 |
$ |
8,076,545 |
$ |
(5,175,227) | (64%) | |||||||||
Cost of products sold |
$ |
3,046,975 |
$ |
7,471,034 |
$ |
(4,424,059) | (59%) | |||||||||
Gross (loss) profit |
$ |
(145,657) | $ |
605,511 |
$ |
(751,168) | (124%) | |||||||||
Operating expenses |
$ |
2,843,573 |
$ |
3,384,934 |
$ |
(541,361) | (16%) | |||||||||
Loss from operations |
$ |
(2,989,230) | $ |
(2,779,423) | $ |
(209,807) | (8)% | |||||||||
Other (expense) income |
$ |
(20,677) | $ |
335,414 |
$ |
(356,091) | (106%) | |||||||||
Net loss |
$ |
(3,009,907) | $ |
(2,444,009) | $ |
(565,898) | (23)% | |||||||||
截至9月30日的三個月 |
||||||||||||||||
2024 |
2023 |
變化金額 |
變更百分比 |
|||||||||||||
淨銷售額 |
$ |
2,901,318 |
$ |
8,076,545 |
$ |
(5,175,227) | (64%) | |||||||||
產品銷售成本 |
$ |
3,046,975 |
$ |
7,471,034 |
$ |
(4,424,059) | (59%) | |||||||||
總（虧損）利潤 |
$ |
(145,657) | $ |
605,511 |
$ |
(751,168) | (124%) | |||||||||
運營費用 |
$ |
2,843,573 |
$ |
3,384,934 |
$ |
(541,361) | (16%) | |||||||||
營業損失 |
$ |
(2,989,230) | $ |
(2,779,423) | $ |
(209,807) | (8)% | |||||||||
其他（費用）收入 |
$ |
(20,677) | $ |
335,414 |
$ |
(356,091) | (106%) | |||||||||
淨虧損 |
$ |
(3,009,907) | $ |
(2,444,009) | $ |
(565,898) | (23)% | |||||||||
Nine Months Ended September 30, |
||||||||||||||||
2024 |
2023 |
$ Change |
% Change |
|||||||||||||
Net sales |
$ |
12,504,482 |
$ |
24,980,902 |
$ |
(12,476,420) | (50%) | |||||||||
Cost of products sold |
$ |
12,170,486 |
$ |
21,928,093 |
$ |
(9,757,607) | (44%) | |||||||||
Gross profit |
$ |
333,996 |
$ |
3,052,809 |
$ |
(2,718,813) | (89%) | |||||||||
Operating expenses |
$ |
10,525,509 |
$ |
11,245,982 |
$ |
(720,473) | (6%) | |||||||||
Loss from operations |
$ |
(10,191,513) | $ |
(8,193,173) | $ |
(1,998,340) | (24)% | |||||||||
Other income |
$ |
327,215 |
$ |
2,016,956 |
$ |
(1,689,741) | (84%) | |||||||||
Net loss |
$ |
(9,864,298) | $ |
(6,176,217) | $ |
(3,688,081) | (60)% | |||||||||
截至9月30日的九個月 |
||||||||||||||||
2024 |
2023 |
變化金額 |
變更百分比 |
|||||||||||||
淨銷售額 |
$ |
12,504,482 |
$ |
24,980,902 |
$ |
(12,476,420) | (50%) | |||||||||
產品銷售成本 |
$ |
12,170,486 |
$ |
21,928,093 |
$ |
(9,757,607) | (44%) | |||||||||
毛利潤 |
$ |
333,996 |
$ |
3,052,809 |
$ |
(2,718,813) | (89%) | |||||||||
運營費用 |
$ |
10,525,509 |
$ |
11,245,982 |
$ |
(720,473) | （6%） | |||||||||
營業損失 |
$ |
(10,191,513) | $ |
(8,193,173) | $ |
(1,998,340) | (24)% | |||||||||
其他收入 |
$ |
327,215 |
$ |
2,016,956 |
$ |
(1,689,741) | (84%) | |||||||||
淨虧損 |
$ |
(9,864,298) | $ |
(6,176,217) | $ |
(3,688,081) | (60)% | |||||||||
Nine Months Ended September 30, |
||||||||||||||||
2024 |
2023 |
Change |
% Change |
|||||||||||||
Cash used in operating activities |
$ |
(4,638,887) | $ |
(6,930,130) | $ |
2,291,243 |
(33)% | |||||||||
Cash provided by (used in) investing activities |
$ |
(567,889) | $ |
(11,061,664) | $ |
(10,493,775) | (95%) | |||||||||
Cash provided by (used in) financing activities |
$ |
(190,565) | $ |
6,892,338 |
$ |
(7,082,903) | (103%) | |||||||||
Net Change in Cash |
$ |
(5,397,341) | $ |
(11,099,456) | $ |
5,702,115 |
(51%) | |||||||||
截至9月30日的九個月 |
||||||||||||||||
2024 |
2023 |
變化 |
變更百分比 |
|||||||||||||
經營活動使用的現金 |
$ |
(4,638,887) | $ |
(6,930,130) | $ |
2,291,243 |
(33)% | |||||||||
投資活動產生的現金流量淨額 |
$ |
(567,889) | $ |
(11,061,664) | $ |
(10,493,775) | (95%) | |||||||||
融資活動產生的現金流量淨額 |
$ |
(190,565) | $ |
6,892,338 |
$ |
(7,082,903) | (103%) | |||||||||
現金淨增加額 |
$ |
(5,397,341) | $ |
(11,099,456) | $ |
5,702,115 |
(51%) | |||||||||
Non-GAAP Financial Measures
非依照普遍公認會計准則的財務措施
We have presented a supplemental non-GAAP financial measure in this earnings release. We believe that this supplemental information is useful to investors because it allows for an evaluation of the company with a focus on the performance of its core operations, including more meaningful comparisons of financial results to historical periods. Adjusted Net Loss is a non-GAAP financial measure which excludes certain non-cash expenses. Our executive management team uses these same non-GAAP measures internally to assess the ongoing performance of the Company. Adjusted Net (Loss) is not intended to be a substitute for any GAAP financial measures, and, as calculated, may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry.
我們在本業績中提供了一項補充的非GAAP財務指標。我們認爲這些補充信息對投資者很有用，因爲它允許評估公司的核心業務表現，包括將財務結果與歷史時期進行更有意義的比較。調整後的淨虧損是一項非GAAP財務指標，排除了某些非現金費用。我們的高管團隊也在內部使用這些非GAAP指標來評估公司的持續表現。調整後的淨（虧損）不打算替代任何GAAP財務指標，並且按照計算方式，可能與其他行業或同行業其他公司的類似指標不可比。
The following table shows information by reportable segments for three months ended September 30, 2024 and 2023, respectively:
以下表格顯示了截至2024年9月30日和2023年同期的各報告部門信息：
For the Three Months Ended September 30, 2024 |
||||||||||||||||
Gas-Powered Boats |
Franchise |
Electric Boat |
Total |
|||||||||||||
Net sales |
$ |
2,901,318 |
$ |
- |
$ |
- |
$ |
2,901,318 |
||||||||
Cost of products sold |
3,035,053 |
- |
11,922 |
3,046,975 |
||||||||||||
Operating expense |
1,990,512 |
610 |
852,451 |
2,843,573 |
||||||||||||
Loss from operations |
(2,124,247) | (610) | (864,373) | (2,989,230) | ||||||||||||
Other income (expense) |
10,857 |
(205) | (31,329) | (20,677) | ||||||||||||
Net loss |
$ |
(2,113,390) | (815) | (895,702) | (3,009,907) | |||||||||||
截至2024年9月30日三個月 |
||||||||||||||||
燃料幣動力船 |
特許經營 |
電動船 |
總計 |
|||||||||||||
淨銷售額 |
$ |
2,901,318 |
$ |
- |
$ |
- |
$ |
2,901,318 |
||||||||
產品銷售成本 |
3,035,053 |
- |
11,922 |
3,046,975 |
||||||||||||
營業費用 |
1,990,512 |
610 |
852,451 |
2,843,573 |
||||||||||||
營業損失 |
(2,124,247) | （610） | (864,373) | (2,989,230) | ||||||||||||
其他收入（費用） |
10,857 |
(205) | (31,329) | (20,677) | ||||||||||||
淨虧損 |
$ |
(2,113,390) | (815) | (895,702) | (3,009,907) | |||||||||||
For the Three Months Ended September 30, 2023 |
||||||||||||||||
Gas-Powered Boats |
Franchise |
Electric Boat |
Total |
|||||||||||||
Net sales |
$ |
8,057,986 |
$ |
- |
$ |
18,559 |
$ |
8,076,545 |
||||||||
Cost of products sold |
7,459,413 |
- |
11,621 |
7,471,034 |
||||||||||||
Operating expense |
2,124,980 |
988 |
1,258,966 |
3,384,934 |
||||||||||||
Loss from operations |
(1,526,407) | (988) | (1,252,028) | (2,779,423) | ||||||||||||
Other income (expense) |
133,885 |
(4,185) | 205,714 |
335,414 |
||||||||||||
Net loss |
$ |
(1,392,522) | $ |
(5,173) | $ |
(1,046,314) | $ |
(2,444,009) | ||||||||
截至2023年9月30日三個月的時間 |
||||||||||||||||
燃料幣動力船 |
特許經營 |
電動船 |
總計 |
|||||||||||||
淨銷售額 |
$ |
8,057,986 |
$ |
- |
$ |
18,559 |
$ |
8,076,545 |
||||||||
產品銷售成本 |
7,459,413 |
- |
11,621 |
7,471,034 |
||||||||||||
營業費用 |
2,124,980 |
988 |
1,258,966 |
3,384,934 |
||||||||||||
營業損失 |
(1,526,407) | (988) | (1,252,028) | (2,779,423) | ||||||||||||
其他收入（費用） |
133,885 |
(4,185) | 205,714 |
335,414 |
||||||||||||
淨虧損 |
$ |
(1,392,522) | $ |
(5,173) | $ |
(1,046,314) | $ |
(2,444,009) | ||||||||
Below is a reconciliation of Adjusted Net loss to GAAP net loss for the three months ended September 30, 2024 and 2023, respectively:
以下是截至2024年和2023年9月30日三個月的調整後淨虧損與GAAP淨虧損的對比：
Gas-Powered Boats |
Franchise |
Electric Boat and Development |
||||||||||||||||||||||
2024 |
2023 |
2024 |
2023 |
2024 |
2023 |
|||||||||||||||||||
Net loss |
$ |
(2,113,390) | $ |
(1,392,522) | $ |
(815) | $ |
(5,173) | $ |
(895,702) | $ |
(1,046,314) | ||||||||||||
Stock based compensation |
104,708 |
132,453 |
- |
- |
174,159 |
332,107 |
||||||||||||||||||
Net loss on sale of property & equipment |
- |
- |
- |
- |
122,587 |
- |
||||||||||||||||||
Depreciation and amortization |
375,769 |
291,344 |
- |
- |
64,689 |
50,482 |
||||||||||||||||||
Change in inventory reserve |
- |
- |
- |
- |
49,913 |
- |
||||||||||||||||||
Merger related professional fees |
230,664 |
- |
- |
- |
57,386 |
- |
||||||||||||||||||
- |
- |
- |
- |
- |
- |
|||||||||||||||||||
Adjusted net income (loss) |
$ |
(1,402,249) | $ |
(968,725) | $ |
(815) | $ |
(5,173) | (426,968) $ | $ |
(663,725) | |||||||||||||
燃料幣動力船 |
特許經營 |
電動船與開發 |
||||||||||||||||||||||
2024 |
2023 |
2024 |
2023 |
2024 |
2023 |
|||||||||||||||||||
淨虧損 |
$ |
(2,113,390) | $ |
(1,392,522) | $ |
(815) | $ |
(5,173) | $ |
(895,702) | $ |
(1,046,314) | ||||||||||||
基於股票的補償 |
104,708 |
132,453 |
- |
- |
174,159 |
332,107 |
||||||||||||||||||
出售房地產及設備的淨損失 |
- |
- |
- |
- |
122,587 |
- |
||||||||||||||||||
折舊和攤銷 |
375,769 |
291,344 |
- |
- |
64,689 |
50,482 |
||||||||||||||||||
庫存準備金變動 |
- |
- |
- |
- |
49,913 |
- |
||||||||||||||||||
併購相關專業費用 |
230,664 |
- |
- |
- |
57,386 |
- |
||||||||||||||||||
- |
- |
- |
- |
- |
- |
|||||||||||||||||||
調整後的淨收入（虧損） |
$ |
(1,402,249) | $ |
(968,725) | $ |
(815) | $ |
(5,173) | (426,968) $ | $ |
(663,725) | |||||||||||||
SOURCE: Twin Vee PowerCats Co.
信息來源:Twin Vee PowerCats Co.
