Quarterly ResultMay 14, 2026, 04:32 PM
NeoVolta Q3 Revenue $2.0M; Gross Margin 46%; JV Ownership to 80%
AI Summary
NeoVolta reported Q3 FY2026 revenue of $2.0 million, flat year-over-year, impacted by a slowdown in the residential solar market. Gross profit improved significantly to $0.9 million (46% gross margin) from $0.5 million (26% gross margin) in Q3 FY2025, though net loss increased to $3.0 million. The company announced recent highlights including being named 2026 Energy Storage Company of the Year, increasing its NeoVolta Power JV ownership to 80%, and securing a first C&I purchase order of $1.9 million from Luminia. Its Georgia manufacturing facility is on track for equipment installation in June and production ramp in Q3 calendar 2026.
Key Highlights
- Increased NeoVolta Power JV ownership to 80% from 60% at no new cash cost.
- Received first C&I purchase order from Luminia for $1.9 million for 40 units.
- Q3 FY2026 revenue was $2.0 million, flat compared to Q3 FY2025.
- Gross profit for Q3 FY2026 was $0.9 million, or 46% gross margin, up from 26% YoY.
- Net loss for Q3 FY2026 was $3.0 million, or $(0.08) per share.
- Cash on hand was $11.5 million as of March 31, 2026.
- Georgia manufacturing facility targets equipment installation in June 2026 and production ramp in Q3 calendar 2026.
- Established a $3.0 million revolving credit facility in April 2026.