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 / 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.

Twin Vee PowerCats Co. Seeing Industry Growth in Saltwater Catamaran Sales

FORT PIERCE, FL / ACCESSWIRE / June 2, 2023 / Twin Vee PowerCats Co. (Nasdaq:VEEE),("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport catamaran boats, today announced that the boating website Boat Trader reviewed Twin Vee's 2023 400 GFX on Boat Trader's YouTube channel this week. Boat Trader's Ryan McVinney tours the Twin Vee 40-foot center console and highlights some of its amenities during the video.

Twin Vee PowerCats 400 GFX Reviewed by Boat Trader

FORT PIERCE, FL / ACCESSWIRE / June 1, 2023 / Twin Vee PowerCats Co. (NASDAQ:VEEE),("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport catamaran boats, today announced that its LFG Marine monohull brand would be folded into its newly formed Aquasport Co. subsidiary. According to Joseph Visconti, the CEO and President of Twin Vee PowerCats Co., the Company plans to invigorate the Aquasport brand with the ideals and goals LFG Marine were founded on.

Twin Vee PowerCats Launches Its Wholly-Owned Aquasport Brand Amidst Record Growth in US Recreational Boating Market

Twin Vee Powercats Co. (NASDAQ:VEEE ) Q1 2023 Earnings Conference Call May 15, 2023 12:00 PM ET Company Participants Joseph Visconti - President & CEO Jim Leffew - President & CEO, Forza X1, Incorporated Carrie Gunnerson - CFO Conference Call Participants Paul Johnston - Private Investor Mike Powell - Private Investor Operator Welcome to the Twin Vee PowerCats Company First 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) Q1 2023 Earnings Call Transcript

Forza X1 Inc

FORT PIERCE, FL / ACCESSWIRE / May 15, 2023 / Twin Vee PowerCats Co. (Nasdaq:VEEE) ("Twin Vee" or the "Company"), a designer, manufacturer and distributor of recreational and commercial, off-shore power catamaran boats, today reported operational highlights and financial results for the three months ended March 31, 2023. We are pleased to report a 51% increase in net revenue for the three months ended March 31, 2023 to $8.9 million compared to $5.9 million in the same period in 2022, and net income of $181,000 for our gas powered boats reportable segment for the three months ended March 31, 2023, compared to a net loss of $626,000 for the same period in 2022.

Twin Vee Powercats Co. Reports a 51% Increase in Revenue for the Three Months Ended March 31, 2023

Aquasport has Been an Established Player in the Recreational Marine Industry for Over 50 Years FORT PIERCE, FL / ACCESSWIRE / May 9, 2023 / Twin Vee PowerCats, Co. (NASDAQ:VEEE),("Twin Vee" or the "Company"), a manufacturer, distributer, and marketer of power sport catamaran boats, today announced that it has entered into an agreement with Ebbtide Corporation to acquire the AQUASPORT™ boat brand and manufacturing facility. The acquisition includes Aquasport's trademarks, its 150,000-square-foot manufacturing facility situated on 18.5 acres in White Bluff Tennessee, and related tooling, molds, and equipment to build five Aquasport models ranging in size from 21 to 25-foot boats.

Twin Vee PowerCats Set to Acquire Aquasport Boats and 150,000 sq. ft. Tennessee Manufacturing Facility

FORT PIERCE, FL / ACCESSWIRE / May 8, 2023 / 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 Monday, May 15, 2023, at 12:00 p.m. (Eastern Time) questions about the Company's operational and financial highlights for Q1 2023.

Twin Vee PowerCats Co. Announces Q1 2023 Earnings Call on May 15

The Company Invites Owners to an Open House on May 6 FORT PIERCE, FL / ACCESSWIRE / April 27, 2023 / 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 hold its first-ever Owners Appreciation and Sales Event at its Fort Pierce, Florida headquarters and factory from 10:00 am to 4:00 pm on Saturday, May 6, 2023. "This family-friendly event is dedicated to celebrating our shareholders, boat owners, and Twin Vee fans and thanking them for supporting us along our incredible journey so far.

Twin Vee PowerCats Co. to Host Owners Appreciation and Sales Event at Fort Pierce Factory

FORT PIERCE, FL / ACCESSWIRE / April 25, 2023 / 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 is moving forward with its planned factory expansion after the City Commission of the City of Fort Pierce voted to approve the plan last week. Twin Vee headquarters, located on a 7.27-acre parcel in Fort Pierce, Florida, currently consists of two detached buildings for boat production and storage.

Twin Vee PowerCats Co.'s Factory Expansion Receives Final Site Plan Approval from City Commission of Fort Pierce

FORT PIERCE, FL / ACCESSWIRE / April 13, 2023 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a manufacturer, distributor and marketer of power sport catamaran boats, today unveiled the designs for its all-new 280 Dual Console Go Fish X (GFX). "The 280 DC GFX is the latest entry in the Company's product lineup," explains Joseph Visconti, CEO and President of Twin Vee PowerCats Co. "We have seen the popularity of our 28-foot Center Console grow over the past couple of years and we are excited offer a new style of boat that will appeal to both families and fishers alike.

Twin Vee PowerCats Co. Grows Model Lineup By Announcing All-New 28-Foot Dual Console Boat Model

Call End: Twin Vee PowerCats Co. (NASDAQ:VEEE ) Q4 2022 Earnings Conference Call March 29, 2023, 10:00 AM ET Company Participants Joseph Visconti - Chief Executive Officer, President and Chairman of the Board Conference Call Participants Operator Welcome to the Twin Vee PowerCats Company Year-End 2022 Investor Call. As a reminder, this call is being recorded and all participants are on a listen-only mode.

Twin Vee PowerCats Co. (VEEE) Q4 2022 Earnings Call Transcript

FORT PIERCE, FL / ACCESSWIRE / March 29, 2023 / Twin Vee PowerCats Co. (NASDAQ:VEEE) ("Twin Vee" or the "Company"), a designer, manufacturer and distributor of recreational and commercial, off-shore power catamaran boats, today reported operational highlights and financial results for the year ended December 31, 2022. "We are pleased to report a 103% increase in net revenue for the year ended December 31, 2022, compared to 2021, while also adding additional models to our lineup and expanding our dealer network.

Twin Vee PowerCats Co. Reports a 103% Increase in Revenue for the Year Ended December 31, 2022

FORT PIERCE, FL / ACCESSWIRE / March 22, 2023 / 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 Wednesday, March 29, 2023, at 10:00 a.m. (Eastern Time) questions about the Company's operational and financial highlights for Year End 2022.

Twin Vee PowerCats Co. Announces Year End 2022 Earnings Call on March 29

FORT PIERCE, FL / ACCESSWIRE / March 8, 2023 / Twin Vee PowerCats, Co. (Nasdaq:VEEE),("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport catamaran boats, today announced that initial orders of LFG Marine's all-new twenty-two-foot center console boat exceeded the Company's expectations. Additionally, LFG Marine's first boat model received overwhelming accolades from national boat clubs at a recent franchise event and traditional boat dealers looking for the perfect boat for their customers.

Twin Vee PowerCats Receives Positive Response to Its All-New 22-Foot LFG Marine Boat and Begins Effort to Expand LFG's Monohull Line

FORT PIERCE, FL / ACCESSWIRE / February 17, 2023 / 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 attending Freedom Boat Club's Freedom Forum 2023 from February 19th to 24th in Cape Coral, Florida. Twin Vee will showcase its new 220 Center Console from its new boat brand, LFG Marine , and offer sea trials to the more than 600 franchisees and guests attending Freedom Boat Club's 5-day event.

LFG Marine, Twin Vee PowerCats New Boat Brand, Will Attend the Freedom Boat Club Forum from February 19-24 in Cape Coral, Florida

FORT PIERCE, FL / ACCESSWIRE / February 15, 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 launch of LFG Marine, an all-new monohull boat brand that will feature unique, new, and versatile boat models initially geared toward the freshwater market but can also be enjoyed in saltwater environments. "LFG Marine is a bold new custom boat brand set to re-energize the world of watercraft.

Twin Vee PowerCats Co. Launches All-New Boat Brand "LFG Marine"

FORT PIERCE, FL / ACCESSWIRE / February 9, 2023 / 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 offering test rides of its boats to attendees at the Discover Boating Miami International Boat Show from February 15-19, 2023. Located at the Suzuki Oasis at the Venetian Marina & Yacht Club, three of Twin Vee's Go Fish X (GFX) models will be on display and available for attendees to test ride: the thirty-four-foot 340 GFX, the forty-foot 400 GFX, and the all-new twenty-four-foot 240 Dual Console GFX ECO Visit Twin Vee at the Discover Boating Miami International Boat Show from February 15th - 19th, 2023, at the Venetian Marina & Yacht Club at 1635 N Bayshore Dr, Miami, FL 33132.

Twin Vee PowerCats to Offer Test Rides During Miami Boat Show Showcasing Why Twin Vee is Known for 'The Best Riding Boats on the Water'

FORT PIERCE, FL / ACCESSWIRE / February 7, 2023 / Twin Vee PowerCats Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport catamaran boats, today released more details and images on its all-new 240 DC ECO. Twin Vee announced last month that its 240 DC GFX ECO would be one of the boats it plans to display at the Discover Boating Miami International Boat Show from February 15-19 at the Suzuki Oasis at the Venetian Marina & Yacht Club.

Twin Vee PowerCats Partners with Suzuki to Unveil an All-New 240 Dual Console ECO Boat at the Miami Boat Show

FORT PIERCE, FL / ACCESSWIRE / January 25, 2023 / Twin Vee PowerCats, Co. (NASDAQ:VEEE),("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport catamaran boats, today announced that is has added nine new authorized Twin Vee dealers as well as 19 locations across the country. The Company now sells its products to 20 independent boat dealers in 34 locations and plans to continue growing its dealer network.

Twin Vee PowerCats Adds Nine New Dealers and Expands National Network

FORT PIERCE, FL / ACCESSWIRE / January 19, 2023 / 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 plans to launch its own line of Twin Vee branded apparel and accessories in the coming weeks. The inaugural collection includes trendy and expertly crafted clothing that is stylish, functional, and body-inclusive.

Twin Vee PowerCats Co. Announces All-New Branded Apparel

FORT PIERCE, FL / ACCESSWIRE / January 18, 2023 / 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 launched its new website (https://twinvee.com/) that enhances the boat buying experience for Twin Vee's customers and dealers. During the redesign, Twin Vee placed great emphasis on crafting an upgraded online experience, offering customers engaging and easily digestible content about the boats it manufactures and providing interactive features to greatly enrich the boat-buying process.

Twin Vee PowerCats Co. Launches All New Website with Lead Generation, Building on the Twin Vee Customer Buying Experience as Twin Vee Expands and Opens New Dealers

FORT PIERCE, FL / ACCESSWIRE / January 17, 2023 / Twin Vee PowerCats, Co. (NASDAQ:VEEE),("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport catamaran boats, today announced that its Board of Directors has approved a stock repurchase program authorizing the repurchase of up to $1,000,000 worth of shares of Twin Vee PowerCats Co. stock. Joseph Visconti, President and Chief Executive Officer, commented, "The Board of Directors understands that microcap stocks are facing challenges on multiple fronts.

Twin Vee PowerCats Co. Announces Stock Repurchase Program

FORT PIERCE, FL / ACCESSWIRE / January 13, 2023 / 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 is attending the Discover Boating Miami International Boat Show from February 15-19, 2023, located at the Suzuki Oasis at the Venetian Marina & Yacht Club. Three of the Company's Twin Vee Go Fish X (GFX) models will be on display for the public: the thirty-four-foot 340 GFX, the forty-foot 400 GFX, and the all-new twenty-four-foot 240 Dual Console GFX ECO.

Twin Vee PowerCats to Showcase All-New 240 Dual Console GFX ECO, 340 GFX, and 400 GFX at the Miami Boat Show February 15th to 19th

FORT PIERCE, FL / ACCESSWIRE / November 17, 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 is the fastest growing power catamaran manufacturer year over year through June 2022, according to information collected by a market share data company dealing in the marine, recreational vehicle, powersports, trailer and manufactured housing industries. The data shows that Twin Vee's sales grew 12.5% from June 2021 - 2022 compared to the previous year, while four other major competitors saw single-digit growth or declining sales during the same period.

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