Twin Vee PowerCats Co. Reports 4% Increase in Revenue for the Year Ended December 31, 2023
Twin Vee PowerCats Co. Reports 4% Increase in Revenue for the Year Ended December 31, 2023
FORT PIERCE, FL / ACCESSWIRE / March 26, 2024 / Twin Vee PowerCats Co. (NASDAQ:VEEE) ("Twin Vee" or the "Company"), a designer, manufacturer and distributor of recreational and commercial power boats, today reported operational highlights and financial results for fiscal year ended December 31, 2023.
佛罗里达州皮尔斯堡/ACCESSWIRE /2024 年 3 月 26 日/Twin Vee PowerCats Co.休闲和商用摩托艇的设计、制造商和分销商纳斯达克股票代码：VEEE）（“Twin Vee” 或 “公司”）今天公布了截至2023年12月31日的财年的经营亮点和财务业绩。
Highlights for fiscal year 2023:
2023 财年的亮点：
- Revenue for the year ended December 31, 2023 increased 4% to $33,426,000 as compared to $31,988,000 in 2022.
- Twin Vee had a net loss of $2,348,000 for the year ended December 31, 2023, as compared to a net loss of $2,144,000 in 2022.
- Aquasport had a net loss of $1,482,897 for the year ended December 31, 2023.
- Forza X1 had a net loss of $ 5,933,000 for the year ended December 31, 2023, as compared to a net loss of $3,630,000 in 2022.
- Twin Vee's consolidated cash, cash equivalents, restricted cash and marketable securities were $21,218,000 on December 31, 2023, as compared to $26,249,000 on December 31, 2022.
- Announced Autonomous A.I. Technology Partnership to create the world's first autonomously equipped recreational sport boats.
- Forza announced construction of a new 60,000 square foot state-of-the-art manufacturing facility in Marion, North Carolina, is progressing on schedule.
- Twin Vee's core business, gas powered boats, had cash, cash equivalents, restricted cash and marketable securities of $8,396,000 on December 31, 2023, as compared to $13,529,000 on December 31,2022.
- Twin Vee's consolidated total asset value was $39,847,000 on December 31, 2023. Forza's total asset value was $16,922,000 on December 31, 2023. Twin Vee's core business, gas powered boats had a total asset value of $22,906,000 on December 31, 2023.
- 截至2023年12月31日的年度收入增长了4％，达到33,426,000美元，而2022年为31,988,000美元。
- 截至2023年12月31日的财年，Twin Vee的净亏损为234.8万美元，而2022年的净亏损为2,144,000美元。
- 截至2023年12月31日的财年，Aquasport的净亏损为1,482,897美元。
- 截至2023年12月31日的财年，极限竞速X1的净亏损为5,933,000美元，而2022年的净亏损为363万美元。
- 截至2023年12月31日，Twin Vee的合并现金、现金等价物、限制性现金和有价证券为21,218,000美元，而2022年12月31日为26,249,000美元。
- 宣布建立自主人工智能技术合作伙伴关系，以制造世界上第一艘装备自动驾驶的休闲运动艇。
- 极限竞速（Forza）宣布，位于北卡罗来纳州马里恩的新建占地60,000平方英尺的最先进制造工厂的建设正在按计划进行中。
- 截至2023年12月31日，Twin Vee的核心业务汽油动力船只的现金、现金等价物、限制性现金和有价证券为8,396,000美元，而2022年12月31日为13,529,000美元。
- 截至2023年12月31日，Twin Vee的合并总资产价值为39,847,000美元。2023年12月31日，极限竞速的总资产价值为16,922,000美元。截至2023年12月31日，Twin Vee的核心业务汽油动力船的总资产价值为22,906,000美元。
The Company is pleased to report a 4% increase in consolidated revenue for the year ended December 31, 2023, to $33,425,912 as compared to $31,987,724 in the same period in 2022. For the year ended December 31, 2023, Twin Vee alone had a net operating loss of $2,347,975, as compared to a net operating loss of $2,144,167 in the prior year. The Twin Vee operating loss is stated before consolidating Twin Vee's electric boat company Forza X1 and the expenses related to the Aquasport Facility in Tennessee. Twin Vee's new Aquasport monohull division, in Tennessee, contributed a cumulative net loss of $1,482,349, such that the gas-powered segment had a combined net loss of $3,830,872 for the year ended December 31, 2023, as compared to a net loss of $2,144,167 in the prior year.
公司欣然报告称，截至2023年12月31日止年度的合并收入增长了4％，达到33,425,912美元，而2022年同期为31,987,724美元。在截至2023年12月31日的财年中，仅Twin Vee的净营业亏损就为2,347,975美元，而上一年的净营业亏损为2,144,167美元。Twin Vee的营业亏损是在合并Twin Vee的电动船公司Forza X1以及与田纳西州Aquasport设施相关的费用之前公布的。Twin Vee在田纳西州的新Aquasport单体船部门累计净亏损1,482,349美元，因此截至2023年12月31日的财年，该天然气动力板块的合并净亏损为3,830,872美元，而上一年的净亏损为2,144,167美元。
Forza X1, Inc. (NASDAQ: FRZA), the electric boat and development subsidiary in which Twin Vee has a 44.35% controlling interest, had a net loss of $5,933,112 for the year ended December 31, 2023 as compared to a net loss of $3,630,081 in the prior year. The consolidated net loss attributed to stockholders of Twin Vee was $7,192,176 for the year ended December 31, 2023, as compared to a consolidated net loss attributed to stockholders of Twin Vee of $5,137,252 in the prior year. Generally Accepted Accounting Principles ("GAAP") require Twin Vee to file consolidated financial statements based on Twin Vee's controlling ownership interest in Forza X1, Inc. (Nasdaq: FRZA). Twin Vee, net of Forza X1, had cash, cash equivalents, restricted cash, and marketable securities of $8,395,709 as of December 31, 2023.
极限竞速X1公司（纳斯达克股票代码：FRZA）是电动船和开发子公司，Twin Vee持有44.35％的控股权，截至2023年12月31日的年度净亏损为5,933,112美元，而上一年度的净亏损为3,630,081美元。截至2023年12月31日的财年，归属于Twin Vee股东的合并净亏损为7,192,176美元，而去年归属于Twin Vee股东的合并净亏损为5,137,252美元。公认会计原则（“GAAP”）要求Twin Vee根据Twin Vee在极限竞速X1公司（纳斯达克股票代码：FRZA）的控股权益提交合并财务报表。截至2023年12月31日，扣除极限竞速X1后的Twin Vee的现金、现金等价物、限制性现金和有价证券为8,395,709美元。
"The general economic landscape, and the rising interest rate environment are creating challenges and downward pressure on customer demand across both brands," explained Joseph Visconti, CEO and President of Twin Vee PowerCats Co. "Not only are entry level buyers affected by higher interest rates, but cash buyers and boat clubs are also exhibiting reduced appetites. Due to the challenging environment and changing consumer behavior, Twin Vee's executive team is tightly controlling operating costs while continuing to develop exciting new models, expand the dealer network, and lay the groundwork for the next market upswing. Our goal is to reduce cash burn while continuing to invest in infrastructure, product development, and other revenue generating investments. For example, our brand-new Twin Vee Gen 2 400 GFX and the 280 GFX that are now in production."
Twin Vee PowerCats Co.首席执行官兼总裁约瑟夫·维斯康蒂解释说：“总体经济格局和利率上升的环境给两个品牌的客户需求带来了挑战和下行压力。”“不仅入门级买家受到更高利率的影响，而且现金购买者和游艇俱乐部的胃口也有所下降。由于充满挑战的环境和不断变化的消费者行为，Twin Vee的执行团队正在严格控制运营成本，同时继续开发令人兴奋的新车型，扩大经销商网络，为下一次市场上涨奠定基础。我们的目标是减少现金消耗，同时继续投资于基础设施、产品开发和其他创收投资。例如，我们全新的 Twin Vee Gen 2 400 GFX 和 280 GFX 现已投入生产。”
Conference Call
电话会议
Joseph Visconti, CEO and President, will hold a conference call today, Tuesday, March 26, 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 13745202. All callers should dial in approximately 10 minutes prior to the scheduled start time and ask to join the Twin Vee conference call.
首席执行官兼总裁约瑟夫·维斯康蒂将于今天，即2024年3月26日星期二中午12点（美国东部时间）举行电话会议。要收听电话会议，有兴趣的人士应拨打1-877-407-3982并使用会议编号13745202。所有来电者应在预定开始时间前大约 10 分钟拨入，并要求加入 Twin Vee 电话会议。
The conference call will also be available through a live audio webcast that can be accessed at the LINK HERE.
电话会议还将通过直播音频网络直播，可通过此处的链接进行观看。
The Company's complete financial statements are being filed today with the Securities and Exchange Commission and can be accessed via
该公司的完整财务报表今天已提交给美国证券交易委员会，可通过以下方式访问
About Twin Vee PowerCats Co.
关于 Twin Vee PowerCats Co.
Twin Vee is a designer, manufacturer, distributor, and marketer of power sport catamaran boats. The Company located in Fort Pierce, Florida, has been building and selling boats for nearly 30 years. Learn more at twinvee.com. 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".
Twin Vee 是动力运动双体船的设计师、制造商、分销商和营销商。该公司位于佛罗里达州皮尔斯堡，建造和销售船只已有近30年了。在 twinvee.com 上了解更多信息。Twin Vee 是双体船运动艇类别中最知名的品牌之一，被称为 “最佳水上骑行船”。
Forward Looking Statements
前瞻性陈述
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 creating the world's first autonomously equipped recreational sport boats through an autonomous A.I. technology partnership, construction of Forza's new 60,000 square foot state-of-the-art manufacturing facility in Marion, North Carolina progressing on schedule, tightly controlling operating costs while continuing to develop exciting new models, expand the dealer network, and lay the groundwork for the next market upswing and reducing cash burn while continuing to invest in infrastructure, product development and other revenue generating investments. 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 create the world's first autonomously equipped recreational sport boats through its autonomous A.I. technology partnership, Forza's ability to complete construction of its manufacturing facility in Marion, North Carolina as planned, the Company's ability to lay the groundwork for the next market upswing and reduce cash burn while continuing to invest in infrastructure, product development and other revenue generating investment, 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.
本新闻稿包含1995年《私人证券诉讼改革法》安全港条款所指的某些前瞻性陈述。这些陈述是通过使用 “可以”、“相信”、“预测”、“打算”、“估计”、“期望”、“可能”、“继续”、“预测”、“潜力”、“项目” 等词语来识别的，这些表述旨在识别前瞻性陈述，包括有关通过自主人工智能技术合作伙伴关系制造世界上第一艘自动装备的休闲运动艇、建造极限竞速新6万平方英尺的休闲运动艇的陈述位于北卡罗来纳州马里恩的最先进制造工厂正在按计划紧张地进行中控制运营成本，同时继续开发令人兴奋的新车型，扩大经销商网络，为下一次市场上涨奠定基础，减少现金消耗，同时继续投资基础设施、产品开发和其他创收投资。这些前瞻性陈述基于管理层截至本新闻稿发布之日的预期和假设，存在许多风险和不确定性，其中许多风险和不确定性难以预测，这可能导致实际业绩与当前的预期和假设与任何前瞻性陈述中提出或暗示的预期和假设存在重大差异。可能导致实际业绩与当前预期存在重大差异的重要因素包括，该公司有能力通过其自主人工智能技术合作伙伴关系制造世界上第一艘自动装备的休闲运动艇，极限竞速能够按计划完成其在北卡罗来纳州马里恩的制造工厂的建设，该公司有能力为下一次市场上涨奠定基础，减少现金消耗，同时继续投资基础设施、产品开发和其他创收活动投资，以及公司截至2023年12月31日止年度的10-K表年度报告中描述的风险因素，以及公司随后向美国证券交易委员会提交的文件，包括随后的10-Q表和8-K表定期报告。本新闻稿中的信息仅在本新闻稿发布之日提供，除非法律要求，否则公司没有义务在声明发表之日之后公开更新或修改任何前瞻性陈述，无论是由于新信息、未来事件还是其他原因，也没有义务反映意外事件的发生。
CONTACT:
联系人：
Glenn Sonoda
investor@twinvee.com
Glenn Sonoda
investor@twinvee.com
(Tables Follow)
（表格如下）
| December 31, | December 31, | |||||||||||||||
| 2023 | 2022 | Change | % Change | |||||||||||||
Cash, cash equivalents and restricted cash |
$ | 16,755,233 | $ | 23,501,007 | $ | (6,745,774) | (28.7%) | |||||||||
Current assets |
$ | 26,646,318 | $ | 29,887,529 | $ | (3,241,211) | (10.8%) | |||||||||
Current liabilities |
$ | 4,216,345 | $ | 3,791,063 | $ | 425,282 | 11.2% | |||||||||
Working capital |
$ | 22,429,973 | $ | 26,096,466 | $ | (3,666,493) | (14.0%) | |||||||||
| 十二月三十一日 | 十二月三十一日 | |||||||||||||||
| 2023 | 2022 | 改变 | % 变化 | |||||||||||||
现金、现金等价物和限制性现金 |
$ | 16,755,233 | $ | 23,501,007 | $ | (6,745,774) | (28.7%) | |||||||||
流动资产 |
$ | 26,646,318 | $ | 29,887,529 | $ | (3,241,211) | (10.8%) | |||||||||
流动负债 |
$ | 4,216,345 | $ | 3,791,063 | $ | 425,282 | 11.2% | |||||||||
营运资金 |
$ | 22,429,973 | $ | 26,096,466 | $ | (3,666,493) | (14.0%) | |||||||||
| December 31, | December 31, | |||||||||||||||
Balance Sheet Data: |
2023 | 2022 | Change | % Change | ||||||||||||
Cash |
$ | 16,755,233 | $ | 23,501,007 | $ | (6,745,774) | (29%) | |||||||||
Total assets |
$ | 39,846,713 | $ | 38,231,480 | $ | 1,615,233 | 4% | |||||||||
Total liabilities |
$ | 7,797,098 | $ | 5,210,591 | $ | 2,586,507 | 50% | |||||||||
Stockholder's equity |
$ | 23,511,193 | $ | 28,435,734 | $ | (4,924,541) | (17%) | |||||||||
| 十二月三十一日 | 十二月三十一日 | |||||||||||||||
资产负债表数据： |
2023 | 2022 | 改变 | % 变化 | ||||||||||||
现金 |
$ | 16,755,233 | $ | 23,501,007 | $ | (6,745,774) | (29%) | |||||||||
总资产 |
$ | 39,846,713 | $ | 38,231,480 | $ | 1,615,233 | 4% | |||||||||
负债总额 |
$ | 7,797,098 | $ | 5,210,591 | $ | 2,586,507 | 50% | |||||||||
股东权益 |
$ | 23,511,193 | $ | 28,435,734 | $ | (4,924,541) | (17%) | |||||||||
| Years Ended | ||||||||||||||||
| December 31, | ||||||||||||||||
| 2023 | 2022 | $ Change | % Change | |||||||||||||
Net sales |
$ | 33,425,912 | $ | 31,987,724 | $ | 1,438,188 | 4% | |||||||||
Cost of products sold |
$ | 23,702,885 | $ | 21,330,918 | $ | 2,371,967 | 11% | |||||||||
Gross profit |
$ | 9,723,027 | $ | 10,656,806 | $ | (933,779) | (9%) | |||||||||
Operating expenses |
$ | 21,710,326 | $ | 16,678,514 | $ | 5,031,812 | 30% | |||||||||
Loss from operations |
$ | (11,987,299) | $ | (6,021,708) | $ | (5,965,591) | 99% | |||||||||
Other expense |
$ | (2,205,103) | $ | (228,294) | $ | (1,976,809) | 866% | |||||||||
Net loss |
$ | (9,782,196) | $ | (5,793,414) | $ | (3,988,782) | 69% | |||||||||
Basic and dilutive income per share of common stock |
$ | (0.76) | $ | (0.67) | $ | (0.08) | 12% | |||||||||
Weighted average number of shares of common stock outstanding |
9,520,000 | 7,624,938 | ||||||||||||||
| 年份已结束 | ||||||||||||||||
| 十二月三十一日 | ||||||||||||||||
| 2023 | 2022 | $ Change | % 变化 | |||||||||||||
净销售额 |
$ | 33,425,912 | $ | 31,987,724 | $ | 1,438,188 | 4% | |||||||||
销售产品的成本 |
$ | 23,702,885 | $ | 21,330,918 | $ | 2,371,967 | 11% | |||||||||
毛利 |
$ | 9,723,027 | $ | 10,656,806 | $ | (933,779) | (9%) | |||||||||
运营费用 |
$ | 21,710,326 | $ | 16,678,514 | $ | 5,031,812 | 30% | |||||||||
运营损失 |
$ | (11,987,299) | $ | (6,021,708) | $ | (5,965,591) | 99% | |||||||||
其他费用 |
$ | (2,205,103) | $ | (228,294) | $ | (1,976,809) | 866% | |||||||||
净亏损 |
$ | (9,782,196) | $ | (5,793,414) | $ | (3,988,782) | 69% | |||||||||
普通股每股基本收益和摊薄收益 |
$ | (0.76) | $ | (0.67) | $ | (0.08) | 12% | |||||||||
已发行普通股的加权平均数 |
9520,000 | 7,624,938 | ||||||||||||||
| Years Ended | ||||||||||||||||
| December 31, | ||||||||||||||||
| 2023 | 2022 | Change | % Change | |||||||||||||
Cash used in operating activities |
$ | (6,934,773) | $ | (4,146,031) | $ | (2,788,742) | (67%) | |||||||||
Cash used in investing activities |
$ | (6,629,021) | $ | (195,605) | $ | 6,433,416 | 3,289% | |||||||||
Cash provided by financing activities |
$ | 6,818,020 | $ | 20,867,340 | $ | (14,049,320) | (67%) | |||||||||
Cash at end of year |
$ | 16,755,233 | $ | 23,501,007 | $ | (6,745,774) | (29%) | |||||||||
| 年份已结束 | ||||||||||||||||
| 十二月三十一日 | ||||||||||||||||
| 2023 | 2022 | 改变 | % 变化 | |||||||||||||
用于经营活动的现金 |
$ | (6,934,773) | $ | (4,146,031) | $ | (2,788,742) | (67%) | |||||||||
用于投资活动的现金 |
$ | (6,629,021) | $ | (195,605) | $ | 6,433,416 | 3,289% | |||||||||
融资活动提供的现金 |
$ | 6,818,020 | $ | 20,867,340 | $ | (14,049,320) | (67%) | |||||||||
年底现金 |
$ | 16,755,233 | $ | 23,501,007 | $ | (6,745,774) | (29%) | |||||||||
The following table shows information by reportable segments for fiscal year 2023 and 2022:
下表显示了2023年和2022财年按可报告的分部划分的信息：
| For the Year Ended December 31, 2023 | ||||||||||||||||
| Gas-Powered Boats | Franchise | Electric Boat and Development | Total | |||||||||||||
Net sales |
$ | 33,388,794 | $ | - | $ | 37,118 | $ | 33,425,912 | ||||||||
Cost of products sold |
23,545,248 | - | 157,637 | 23,702,885 | ||||||||||||
Operating expense |
15,234,159 | 3,253 | 6,472,914 | 21,710,326 | ||||||||||||
Loss from operations |
(5,390,613) | (3,253) | (6,593,433) | (11,987,299) | ||||||||||||
Other income (expense) |
1,559,741 | (14,959) | 660,321 | 2,205,103 | ||||||||||||
Net loss |
$ | (3,830,872) | $ | (18,212) | $ | (5,933,112) | $ | (9,782,196) | ||||||||
| For the Year Ended December 31, 2022 | ||||||||||||||||
| Gas-Powered Boats | Franchise | Electric Boat and Development | Total | |||||||||||||
Net sales |
$ | 31,988,756 | $ | (1,032) | $ | - | $ | 31,987,724 | ||||||||
Cost of products sold |
21,097,148 | 1,027 | 232,743 | 21,330,918 | ||||||||||||
Operating expense |
13,274,952 | 35,399 | 3,368,163 | 16,678,514 | ||||||||||||
Loss from operations |
(2,383,344) | (37,458) | (3,600,906) | (6,021,708) | ||||||||||||
Other income (expense) |
239,177 | (34,060) | 23,177 | 228,294 | ||||||||||||
Net loss |
$ | (2,144,167) | $ | (71,518) | $ | (3,577,729) | $ | (5,793,414) | ||||||||
| 截至2023年12月31日的财年 | ||||||||||||||||
| 汽油动力船 | 专营权 | 电动船与发展 | 总计 | |||||||||||||
净销售额 |
$ | 33,388,794 | $ | - | $ | 37,118 | $ | 33,425,912 | ||||||||
销售产品的成本 |
23,545,248 | - | 157,637 | 23,702,885 | ||||||||||||
运营费用 |
15,234,159 | 3,253 | 6,472,914 | 21,710,326 | ||||||||||||
运营损失 |
(5,390,613) | (3,253) | (6,593,433) | (11,987,299) | ||||||||||||
其他收入（支出） |
1,559,741 | (14,959) | 660,321 | 2,205,103 | ||||||||||||
净亏损 |
$ | (3,830,872) | $ | (18,212) | $ | (5,933,112) | $ | (9,782,196) | ||||||||
| 截至2022年12月31日的财年 | ||||||||||||||||
| 汽油动力船 | 专营权 | 电动船与发展 | 总计 | |||||||||||||
净销售额 |
$ | 31,988,756 | $ | (1,032) | $ | - | $ | 31,987,724 | ||||||||
销售产品的成本 |
21,097,148 | 1,027 | 232,743 | 21,330,918 | ||||||||||||
运营费用 |
13,274,952 | 35,399 | 3,368,163 | 16,678,514 | ||||||||||||
运营损失 |
(2,383,344) | (37,458) | (3,600,906) | (6,021,708) | ||||||||||||
其他收入（支出） |
239,177 | (34,060) | 23,177 | 228,294 | ||||||||||||
净亏损 |
$ | (2,144,167) | $ | (71,518) | $ | (3,577,729) | $ | (5,793,414) | ||||||||
Non-GAAP Financial Measures
非公认会计准则财务指标
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.
我们在本财报中提供了补充的非公认会计准则财务指标。我们认为，这些补充信息对投资者很有用，因为它允许以核心业务的业绩为重点对公司进行评估，包括将财务业绩与历史时期进行更有意义的比较。调整后净亏损是一项非公认会计准则财务指标，不包括某些非现金支出。我们的执行管理团队在内部使用相同的非公认会计准则指标来评估公司的持续业绩。调整后的净额（亏损）不能替代任何GAAP财务指标，并且根据计算，可能无法与其他行业或同一行业内其他公司的类似业绩指标进行比较。
Below is a reconciliation of Adjusted Net loss to GAAP net loss for the fiscal year 2023 and 2022:
以下是2023和2022财年调整后净亏损与GAAP净亏损的对账情况：
| Years Ended | ||||||||
| December 31, | ||||||||
| 2023 | 2022 | |||||||
Net sales |
$ | 33,425,912 | $ | 31,987,724 | ||||
Cost of products sold |
$ | 23,702,885 | $ | 21,330,918 | ||||
Gross profit |
$ | 9,723,027 | $ | 10,656,806 | ||||
Operating expenses |
$ | 21,710,326 | $ | 16,678,514 | ||||
Loss from operations |
$ | (11,987,299) | $ | (6,021,708) | ||||
Other expense |
$ | (2,205,103) | $ | (228,294) | ||||
Net loss |
$ | (9,782,196) | $ | (5,793,414) | ||||
Basic and dilutive income per share of common stock |
$ | (0.77) | $ | (0.67) | ||||
Weighted average number of shares of common stock outstanding |
9,520,000 | 7,624,938 | ||||||
| 年份已结束 | ||||||||
| 十二月三十一日 | ||||||||
| 2023 | 2022 | |||||||
净销售额 |
$ | 33,425,912 | $ | 31,987,724 | ||||
销售产品的成本 |
$ | 23,702,885 | $ | 21,330,918 | ||||
毛利 |
$ | 9,723,027 | $ | 10,656,806 | ||||
运营费用 |
$ | 21,710,326 | $ | 16,678,514 | ||||
运营损失 |
$ | (11,987,299) | $ | (6,021,708) | ||||
其他费用 |
$ | (2,205,103) | $ | (228,294) | ||||
净亏损 |
$ | (9,782,196) | $ | (5,793,414) | ||||
普通股每股基本收益和摊薄收益 |
$ | (0.77) | $ | (0.67) | ||||
已发行普通股的加权平均数 |
9520,000 | 7,624,938 | ||||||
| Adjusted Net Loss | ||||||||
| Years Ended | ||||||||
| December 31, | ||||||||
| 2023 | 2022 | |||||||
Net loss |
$ | (9,782,196) | $ | (5,793,414) | ||||
Stock based compensation |
1,902,749 | 1,448,751 | ||||||
Loss on disposal of assets |
- | 60,088 | ||||||
Depreciation and amortization |
1,353,383 | 553,750 | ||||||
Change of right-of-use asset and lease liabilities |
474,630 | 397,136 | ||||||
Net change in marketable securities |
(87,781) | 133,988 | ||||||
Change in inventory reserce |
419,616 | - | ||||||
Government grant income |
(1,267,055) | (355,986.99) | ||||||
Adjusted net (loss) |
$ | (7,406,270) | $ | (3,555,688) | ||||
| 调整后净亏损 | ||||||||
| 年份已结束 | ||||||||
| 十二月三十一日 | ||||||||
| 2023 | 2022 | |||||||
净亏损 |
$ | (9,782,196) | $ | (5,793,414) | ||||
基于股票的薪酬 |
1,902,749 | 1,448,751 | ||||||
资产处置损失 |
- | 60,088 | ||||||
折旧和摊销 |
1,353,383 | 553,750 | ||||||
使用权资产和租赁负债的变动 |
474,630 | 397,136 | ||||||
有价证券的净变化 |
(87,781) | 133,988 | ||||||
库存储备的变化 |
419,616 | - | ||||||
政府补助收入 |
(1,267,055) | (355,986.99) | ||||||
调整后的净额（亏损） |
$ | (7,406,270) | $ | (3,555,688) | ||||
| Gas-Powered Boats | Fix My Boat | Electric Boat and Development | ||||||||||||||||||||||
| Fiscal Year | Fiscal Year | Fiscal Year | ||||||||||||||||||||||
| December 31, | December 31, | December 31, | ||||||||||||||||||||||
| 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||
Net loss |
$ | (3,830,872) | $ | (2,091,815) | $ | (18,212) | $ | (71,518) | $ | (5,933,112) | $ | (3,630,081) | ||||||||||||
Stock based compensation |
557,479 | 990,405 | - | - | 1,345,270 | 458,346 | ||||||||||||||||||
Impairment loss |
- | - | - | - | - | - | ||||||||||||||||||
Loss on disposal of assets |
- | 10,098 | - | 18,408 | - | 31,582 | ||||||||||||||||||
Depreciation and amortization |
1,167,483 | 493,785 | - | - | 185,900 | 59,965 | ||||||||||||||||||
Gain from government grant |
- | - | - | - | - | - | ||||||||||||||||||
Change of right-of-use asset and lease liabilities |
387,708 | 559,205 | - | - | 86,922 | (162,069) | ||||||||||||||||||
Net change in marketable securities |
(36,903) | 133,988 | - | - | (50,878) | - | ||||||||||||||||||
Change in inventory reserve |
68,458 | - | - | - | 351,158 | - | ||||||||||||||||||
Government grant income |
(1,267,055) | (355,987) | - | - | - | - | ||||||||||||||||||
Adjusted net income (loss) |
$ | (2,953,702) | $ | (260,321) | $ | (18,212) | $ | (53,110) | $ | (4,014,740) | $ | (3,242,257) | ||||||||||||
| 汽油动力船 | 修好我的船 | 电动船与发展 | ||||||||||||||||||||||
| 财政年度 | 财政年度 | 财政年度 | ||||||||||||||||||||||
| 十二月三十一日 | 十二月三十一日 | 十二月三十一日 | ||||||||||||||||||||||
| 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||
净亏损 |
$ | (3,830,872) | $ | (2,091,815) | $ | (18,212) | $ | (71,518) | $ | (5,933,112) | $ | (3,630,081) | ||||||||||||
基于股票的薪酬 |
557,479 | 990,405 | - | - | 1,345,270 | 458,346 | ||||||||||||||||||
减值损失 |
- | - | - | - | - | - | ||||||||||||||||||
资产处置损失 |
- | 10,098 | - | 18,408 | - | 31,582 | ||||||||||||||||||
折旧和摊销 |
1,167,483 | 493,785 | - | - | 185,900 | 59,965 | ||||||||||||||||||
从政府补助中获得的收益 |
- | - | - | - | - | - | ||||||||||||||||||
使用权资产和租赁负债的变动 |
387,708 | 559,205 | - | - | 86,922 | (162,069) | ||||||||||||||||||
有价证券的净变化 |
(36,903) | 133,988 | - | - | (50,878) | - | ||||||||||||||||||
库存储备的变化 |
68,458 | - | - | - | 351,158 | - | ||||||||||||||||||
政府补助收入 |
(1,267,055) | (355,987) | - | - | - | - | ||||||||||||||||||
调整后净收益（亏损） |
$ | (2,953,702) | $ | (260,321) | $ | (18,212) | $ | (53,110) | $ | (4,014,740) | $ | (3,242,257) | ||||||||||||
SOURCE: Twin Vee PowerCats Co.
来源：Twin Vee PowerCats Co