Twin Vee Powercats, Inc. (IVA) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	12.3M	4.5M	9.2M	17.5M	12.2M
Cost of Revenue	2.8M	2.8M	3.9M	(23.0K)	995.0K
Gross Profit	9.4M	1.5M	9.2M	17.5M	17.1M
Operating Expenses
R&D Expense	177.2M	83.6M	90.9M	110.0M	60.5M
SG&A Expense	85.7M	53.9M	17.1M	15.6M	15.5M
General & Admin Expense	77.0M	49.1M	15.4M	13.9M	12.9M
Selling & Marketing Expense	8.7M	4.8M	1.7M	1.8M	2.6M
Other Expenses	(2.1M)	(133.6K)	(1.2M)	(5.4M)	(1.8M)
Total Operating Expenses	260.9M	137.4M	106.8M	120.2M	74.2M
Cost and Expenses	263.7M	137.4M	106.8M	120.2M	75.2M
Operating Income (EBIT)	(246.6M)	(130.9M)	(97.6M)	(102.7M)	(57.1M)
Non-Operating
Interest Income	6.3M	2.8M	1.1M	945.0K	390.0K
Interest Expense	60.3M	32.3M	12.2M	5.2M	707.0K
Net Interest Income	(54.0M)	(29.5M)	(11.1M)	(4.2M)	(317.0K)
Other Non-Op Income/Expense	(300.0M)	(211.4M)	(86.3M)	(7.1M)	2.8M
Non-Operating Income (excl Interest)	184.9M	—	74.2M	1.9M	48.0K
EBT (Pre-Tax Income)	(546.7M)	(342.3M)	(183.9M)	(109.8M)	(54.3M)
Income Tax Expense	(2.0M)	22.0K	313.0K	607.0K	(20.0K)
Bottom Line
Net Income	(558.4M)	(340.2M)	(184.2M)	(110.4M)	(54.3M)
Earnings from Cont. Ops	(557.5M)	(354.1M)	(184.2M)	(110.4M)	(54.3M)
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	(558.4M)	(340.2M)	(184.2M)	(110.4M)	(54.3M)
Per Share
Basic EPS	($4.76)	($1.82)	($3.54)	($2.43)	($1.31)
Diluted EPS	($4.76)	($1.82)	($3.54)	($2.43)	($1.31)
Revenue Per Share	$0.04	$0.02	$0.18	$0.39	$0.29
Shares
Basic Shares Outstanding	273.6M	186.8M	52.0M	45.4M	41.4M
Diluted Shares Outstanding	273.6M	186.8M	52.0M	45.4M	41.4M
Profitability Metrics
EBITDA	(432.0M)	(127.7M)	(166.5M)	(102.0M)	(55.5M)
D&A	6.0M	3.2M	5.2M	2.6M	1.7M
EBIT	(437.7M)	(130.9M)	(171.7M)	(104.6M)	(57.2M)

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026