Twin Vee PowerCats Reports 10% Revenue Growth in Q1 2026, Advances Bahama Brand Expansion

Twin Vee PowerCats Co. (NASDAQ: VEEE) announced first-quarter 2026 revenue growth of approximately 10% year over year and 31% sequentially, marking its fourth consecutive quarter of year-over-year revenue gains. The company also provided an update on the relaunch of Bahama Boat Works, an iconic luxury brand known for offshore fishing vessels.

For the quarter ended March 31, 2026, Twin Vee reported a net loss of $2.09 million, compared with $1.6 million in the prior-year quarter. Adjusted EBITDA loss improved 11% to $776,000. The company attributed the results to approximately $1.3 million in non-cash and one-time items tied to inventory adjustments, product development and field inventory management. Cash and equivalents increased by more than $4 million from the fourth quarter.

The revenue growth comes as Twin Vee continues to expand its product lineup and strengthen its presence in the recreational boating market. The company manufactures boats under the Twin Vee and Bahama Boat Works brands, focusing on stable, fuel-efficient catamaran hull designs. Twin Vee is recognized as one of the most recognizable brand names in the catamaran sport boat category, known as the “Best Riding Boats on the Water.”

The Bahama Boat Works brand, an iconic luxury brand celebrated for craftsmanship and timeless aesthetic, is being relaunched to target the high-end offshore fishing segment. This expansion is part of Twin Vee's strategy to diversify its product portfolio and capture market share in different boating segments.

“Our first-quarter results reflect continued momentum in revenue growth and operational improvements,” said a company spokesperson. “We are excited about the progress with Bahama Boat Works, which we believe will contribute to our long-term growth.”

The company is located in Fort Pierce, Florida, and has been building and selling boats for 30 years. More information is available at twinvee.com and bahamaboatworks.com.

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