NeoVolta Inc (NEOVW) Q3 2025 Earnings Report

NeoVolta reported a pronounced top-line uptick in QQ3 2025, with revenue of approximately $2.01 million, up about 609% year-over-year and 88% quarter-over-quarter. The gross margin stood at 25.5%, generating a gross profit of roughly $0.515 million, while the company posted an operating loss of about $1.371 million and a net loss of $1.45 million. EBITDA was negative at $1.37 million, and free cash flow remained negative at $2.05 million for the quarter. The company benefited from financing activity of about $2.26 million, yielding a modest net cash increase of $0.21 million for the period and ending cash around $0.54 million. liquidity metrics remained solid on a current-basis (current ratio 3.80) despite a tight earnings trajectory, with total current assets of ~$5.71 million against current liabilities of ~$1.50 million and total debt of ~$1.80 million.

Market context remains supportive for residential energy storage demand, underscoring NeoVolta’s opportunity to scale NV14/NV14K/NV24 deployments through a direct-to-installer/distributor model. However, near-term profitability remains elusive absent meaningful gross-margin expansion and operating-leverage realization. The QQ3 results imply early-stage growth in a fragmented, large-addressable market, with execution and cost discipline as critical drivers of durable value. Investors should monitor revenue progression, gross margin trajectory, SG&A containment, and the company’s ability to convert top-line growth into positive free cash flow.