Twin Vee PowerCats, Co. Q2 FY2025 earnings call

• Despite economic pressure in the recreational marine industry, Twin Vee delivered solid results. Revenues increased, and gross margin improved. - Completed acquisition of Bahama Boat Works, a respected name in offshore boating. - Launched a new 22' BayCat model. - Added 10 new dealers, expanding geographic reach. - Announced expansion of Bahama Boat Works model lineup to include new sizes. - Took delivery of a new 5-axis router for streamlined manufacturing and enhanced quality. - Launched a new interactive website with an innovative online 3D configurator. - Introduced WIZZ BANGER, a subsidiary with an AI-powered valuation tool for boats.

Revenues for Twin Vee Powercats came in at $4.8 million for the second quarter of 2025, representing a 9.9% increase over Q2 of the previous year. The gross margin was 13.8%, which is a 900 basis point improvement from the same period in 2024. In terms of sequential growth, revenues grew 32% from the first quarter of 2025 and had a 10% year-over-year increase. The company shipped 31 units in the second quarter, with an average sales price of $153,000. For the first 6 months of the year, the gross margin was 14.2%, also up over 900 basis points.

• Continue to focus on delivering high-quality boats. - Optimize the dealer network. - Reignite the premium Bahama brand. - Control costs to work towards profitability. - Actively developing new Bahama models (22', 24', 28', 31') expected to be available over the next several months. - Expect the 22' BayCat to play an important role in future growth.

• Economic pressure across the recreational marine industry poses a risk. - Previously, reliance on third parties for tooling was a risk, although the new 5-axis router helps, there are still uncertainties. - Forward-looking statements are subject to risks and uncertainties detailed in the company's SEC filings.

Q: Are there any questions?

A: There are no questions at this time.