NeoVolta Inc (NEOVW) Q1 2026 Earnings Report

NeoVolta Inc (NEOVW) reported QQ1 2026 results with a visible gross profit but an ongoing operating loss and negative net income. The company posted gross profit of 1.58 million against unspecified revenue, resulting in an EBITDA of -0.854 million and a net income of -1.243 million, translating to an EPS of -0.04. Operating expenses were elevated (G&A of 2.37 million and R&D of 56.9 thousand), contributing to the quarterly cash burn of approximately 2.49 million from operations. Financing activities provided a net inflow of 2.59 million, yielding a modest net cash increase of about 0.095 million for the quarter and ending with cash and cash equivalents of 0.89 million.

From the balance sheet, total assets stood at roughly 8.45 million, with total liabilities around 6.31 million and stockholders’ equity of 2.13 million. Notably, retained earnings are deeply negative (~27.02 million), indicating a long-running loss carryforward despite a positive near-term cash balance. The company carries total debt of ~4.87 million (short-term debt ~4.23 million, long-term debt ~0.63 million) and a net debt position of ~3.98 million after cash on hand. Liquidity metrics imply a modest current ratio (~1.47) and a quick ratio just above 1, signaling tight but tolerable short-term liquidity given the current financing dynamics.

Overall, QQ1 2026 presents a company in an early-stage transition phase: a meaningful gross profit signal exists, but without disclosed revenue, the sustainability of gross margin and the path to profitability remain uncertain. The near-term investment thesis hinges on revenue ramp, continued cost discipline, and access to favorable financing to bridge operating losses as the company scales its NV energy storage offerings (NV14, NV14K, NV24) through solar installers and distributors. Management commentary (when available) will be critical to validate volume expectations, pricing/margin trajectory, and the cadence of product adoption in a competitive U.S. residential/commercial energy-storage market.