NeoVolta Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending December 31, 2025. The company generated revenues of $4.65 million for the three months ended December 31, 2025, a substantial increase from $1.07 million in the same period the previous year. For the six-month period, revenues reached $11.30 million, compared to $1.66 million in the prior year. Despite this revenue growth, NeoVolta reported a net loss of $5.54 million for the quarter and $6.78 million for the six months, widening from losses of $0.97 million and $1.94 million, respectively, in the prior year.
The increase in revenue is attributed to the expansion of sales channels beyond the traditional Southern California installer market, which has been facilitated by the engagement of a new CEO in April 2024. However, the company's cost of goods sold also rose significantly, reaching $3.87 million for the quarter and $8.95 million for the six months, compared to $0.75 million and $1.25 million in the respective prior periods. This resulted in gross profit margins of approximately 17% for the latest quarter, down from 30% a year earlier, primarily due to a reversal of a prior year reserve for obsolescence.
In terms of operational changes, NeoVolta completed an asset acquisition of Neubau Energy Inc. in October 2025, which included intellectual property and tangible assets. This acquisition is expected to enhance NeoVolta's product offerings, with sales of the new proprietary battery storage module anticipated to begin in 2026. The company also reported an increase in general and administrative expenses, which rose to $5.08 million for the quarter, largely due to higher personnel costs associated with the new CEO and additional hires.
As of December 31, 2025, NeoVolta's total assets amounted to $10.11 million, up from $6.81 million at the end of June 2025. The company’s cash and cash equivalents decreased to $0.24 million from $0.79 million, while accounts receivable increased significantly to $5.31 million, indicating a growing customer base. The company reported a total of 42.58 million shares outstanding as of February 13, 2026, reflecting its ongoing capital raising efforts, including a private equity offering that generated $3 million in December 2025.
Looking ahead, NeoVolta anticipates continued demand growth for its energy storage products, supported by recent financing activities, including a registered direct offering that raised $10 million in January 2026. The company plans to utilize these funds for working capital and to support its joint venture for a new battery manufacturing facility in the southeastern United States. However, NeoVolta acknowledges the challenges of achieving break-even cash flow from operations in the near term and will need to manage its capital contributions to the joint venture carefully to maintain its majority ownership.
About NeoVolta Inc.
NeoVolta, Inc. designs, manufactures, and sells high-end energy storage systems (ESS) primarily for residential and commercial solar applications. Its flagship products, NV14, NV24, and NV14-K, utilize lithium iron phosphate batteries and advanced inverters to store and supply renewable energy. Focused on installer relationships and regulatory compliance, NeoVolta emphasizes product versatility, safety, and rapid delivery to serve the growing US energy storage market.
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