NeoVolta Reports Fiscal Year 2025 Revenues of $8.4 Million, up 219% from Year Ago
Delivered $4.8 million in fiscal Q4 2025 revenues, more than doubling fiscal Q3 2025
SAN DIEGO, Sept. 30, 2025 (GLOBE NEWSWIRE) -- NeoVolta Inc. (NASDAQ: NEOV), a U.S.-based energy technology company delivering scalable storage, for resilient residential and commercial power infrastructure, reported fiscal Q4 and full year results for the period ending June 30, 2025.
“By executing our go-to-market strategy of expanding distribution, driving dealer growth, introducing new products, and improving unit economics, we dramatically accelerated our growth momentum in 2025. Converting our growing pipeline, we delivered record revenues, up 219% in fiscal 2025 from fiscal 2024 fueled by fiscal Q4 2025 contributions that increased 135% sequentially from fiscal Q3 2025,” said Ardes Johnson, CEO of NeoVolta.
“This is only the start. Our strengthened foundation supports continued revenue growth and margin expansion in fiscal 2026 and beyond, and key expansion initiatives are actively in progress. At RE+ 2025, we launched our commercial and industrial solution battery energy storage system a 250kW / 430kWh and our NV16kW AC hybrid inverter, both of which we believe may be game changers for our installer base. Further, we are pursuing avenues for increasing domestic battery manufacturing and augmenting software solutions that will increase the demand and differentiation of NeoVolta’s premium solutions.”
Recent Operating Highlights
- Unveiled a 250kW/430kWh Commercial & Industrial battery energy storage system (BESS) at RE+ 2025, with availability beginning in calendar Q4 2025.
- Signed a letter of intent to acquire strategic assets of Neubau Energy, which included the launch of integrated operations during RE+ 2025 and is expected to mitigate the effect of 2026 import tariffs.
- Introduced the NV16kW AC hybrid inverter (24kW PV input), which delivers more power and solar integration and sets a new standard for clean energy storage solutions and began pre-sales at RE+ 2025.
- Exceeded $3 million in quarterly distributor purchase orders before the end of the June quarter, which was the strongest channel performance in company history.
- Achieved record installer growth in Texas, signing over 10% of statewide installers and expanding via our Solartek Distributors, LLC agreement.
- Formed a strategic relationship with Virtual Peaker to enable smarter energy storage integration and virtual power plant (VPP) participation.
Fiscal Q4 2025 Financial Highlights
- Revenues from contracts with customers increased 720% to $4.8 million in fiscal Q4 2025, compared to the prior year, reflecting rapid expansion of various new sales channels and significant marketing efforts.
- Gross margin was 12% in fiscal Q4 2025, reflecting an increase to cost of goods sold that in fiscal Q4 2025 included some marketing expenses. This compared to 3% in the prior year period.
- Operating expenses totaled $1.9 million in fiscal Q4 2025, compared to $0.8 million in the prior year period, reflecting increased personnel and marketing costs.
- Loss from operations was $1.4 million in fiscal 2025, compared to $0.7 million in the prior year period.
- Net loss was $1.6 million, or $(0.05) per basic share, vs. a loss of $0.7 million, or $(0.02) per basic share, in the prior year period.
- As of June 30, 2025, cash balance was $0.8 million and net working capital was $3.2 million. The company anticipates that demand for its products will increase over time and that it will have sufficient cash to operate for at least the next 12 months.
Fiscal Year 2025 Financial Highlights
- Revenues increased 219% to $8.4 million fiscal 2025, compared to the prior year, primarily due to the rapid expansion of various new sales channels.
- Gross margins were 18%, reflecting an increase to cost of goods sold that in fiscal Q4 2025 included some marketing expenses, compared to 19% in fiscal 2025.
- Net loss was $5.0 million, or $(0.15) per basic share, compared to $2.3 million, or $(0.07) per basic share, in the prior year.
About NeoVolta
NeoVolta is a leading innovator in energy storage solutions dedicated to advancing the future of clean energy. Founded to provide reliable, sustainable, and high-performance energy storage systems, the company has quickly established itself as a critical player in the industry. NeoVolta’s flagship products are designed to meet the growing demand for efficient energy management in residential and commercial applications. With a focus on cutting-edge technology and strategic partnerships, NeoVolta is committed to driving progress in renewable energy and enhancing how the world stores and uses power.
For more information visit: www.NeoVolta.com
Forward-Looking Statements
Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this release include, without limitation, the success of the newly launched commercial and industrial solution battery energy storage systems, increasing domestic battery manufacturing, and the closing of the announced the asset acquisition with Neubau Energy. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. The Company has attempted to identify forward-looking statements by terminology including ‘believes,’ ‘estimates,’ ‘anticipates,’ ‘expects,’ ‘plans,’ ‘projects,’ ‘intends,’ ‘potential,’ ‘may,’ ‘could,’ ‘might,’ ‘will,’ ‘should,’ ‘approximately’ or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those discussed under Item 1A. “Risk Factors” in the Company’s most recently filed Form 10-K filed with the Securities and Exchange Commission (“SEC”) and updated from time to time in its Form 10-Q filings and in its other public filings with the SEC. Any forward-looking statements contained in this release speak only as of its date. The Company undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.
Contacts
Investors
David Barnard, Alliance Advisors IR, dbarnard@allianceadvisors.com 415-433-3777
Media
Email: press@neovolta.com
Phone: 800-364-5464
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NEOVOLTA INC. Balance Sheets | ||||||||
| June 30, | June 30, | |||||||
| 2025 | 2024 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 794,836 | $ | 986,427 | ||||
| Accounts receivable, net | 2,983,841 | 1,805,980 | ||||||
| Inventory, net | 2,137,912 | 1,787,308 | ||||||
| Prepaid expenses and other current assets (including prepaid inventory in amount of $535,938 as of June 30, 2025) | 748,044 | 76,815 | ||||||
| Total current assets | 6,664,633 | 4,656,530 | ||||||
| Other asset: | ||||||||
| Lease right-of-use asset, net | 140,540 | – | ||||||
| Total assets | $ | 6,805,173 | $ | 4,656,530 | ||||
| Liabilities and Stockholders' Equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 689,216 | $ | 5,316 | ||||
| Accrued liabilities | 78,934 | 55,784 | ||||||
| Lease liability | 140,540 | – | ||||||
| Short-term notes payable | 2,603,223 | – | ||||||
| Total current liabilities | 3,511,913 | 61,100 | ||||||
| Payable to line of credit lender | 383,538 | – | ||||||
| Total liabilities | 3,895,451 | 61,100 | ||||||
| Commitments and contingencies (Note 5) | ||||||||
| Stockholders' equity: | ||||||||
| Common stock, $0.001 par value, 100,000,000 shares authorized,34,124,873 shares and 33,236,091 shares issued and outstanding, respectively | 34,125 | 33,236 | ||||||
| Additional paid-in capital | 28,652,731 | 25,304,732 | ||||||
| Accumulated deficit | (25,777,134 | ) | (20,742,538 | ) | ||||
| Total stockholders' equity | 2,909,722 | 4,595,430 | ||||||
| Total liabilities and stockholders' equity | $ | 6,805,173 | $ | 4,656,530 | ||||
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NEOVOLTA INC. Statements of Operations | |||||||||||||||
| Three Months Ended June 30, | Year Ended June 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Revenues from contracts with customers | $ | 4,750,913 | $ | 579,214 | $ | 8,426,835 | $ | 2,645,072 | |||||||
| Cost of goods sold | (4,175,474 | ) | (562,057 | ) | 6,920,130 | 2,134,725 | |||||||||
| Gross profit | 575,439 | 17,157 | 1,506,705 | 510,347 | |||||||||||
| Operating expenses: | |||||||||||||||
| General and administrative | 1,929,423 | 742,171 | 6,065,590 | 2,828,147 | |||||||||||
| Research and development | 78,417 | 8,762 | 157,305 | 19,154 | |||||||||||
| Total operating expenses | 2,007,840 | 750,933 | 6,222,895 | 2,847,301 | |||||||||||
| Loss from operations | (1,432,401 | ) | (733,776 | ) | (4,716,190 | ) | (2,336,954 | ) | |||||||
| Other income (expense): | |||||||||||||||
| Interest income | 139 | 4,698 | 2,011 | 33,644 | |||||||||||
| Interest expense | (217,372 | ) | 0 | (320,417 | ) | – | |||||||||
| Total other income (expense) | (217,233 | ) | 4,698 | (318,406 | ) | 33,644 | |||||||||
| Net loss | $ | (1,649,634 | ) | $ | (729,078 | ) | $ | (5,034,596 | ) | $ | (2,303,310 | ) | |||
| Weighted average shares outstanding - basic and diluted | 34,124,873 | 33,236.091 | 33,589,818 | 33,213,306 | |||||||||||
| Net loss per share - basic and diluted | $ | (0.05 | ) | $ | (0.02 | ) | $ | (0.15 | ) | $ | (0.07 | ) | |||
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NEOVOLTA INC. Statements of Cash Flows | ||||||||
| Year Ended June 30, | ||||||||
| 2025 | 2024 | |||||||
| Cash flows from operating activities: | ||||||||
| Net loss | $ | (5,034,596 | ) | $ | (2,303,310 | ) | ||
| Adjustments to reconcile net loss to net cash used in operations: | ||||||||
| Stock compensation expense | 2,101,488 | 432,367 | ||||||
| Amortization of ROU asset | 80,570 | – | ||||||
| Provision for expected credit losses/bad debt expense | (4,253 | ) | 540,000 | |||||
| Reserve for obsolete inventory | (90,000 | ) | 90,000 | |||||
| Changes in current assets and liabilities | ||||||||
| Accounts receivable | (1,630,876 | ) | (519,595 | ) | ||||
| Inventory | 131,864 | 703,263 | ||||||
| Prepaid expenses and other current assets | (606,429 | ) | 19,304 | |||||
| Accounts payable | 683,900 | 5,316 | ||||||
| Accrued expenses | 23,150 | 16,293 | ||||||
| Operating lease obligation | (80,570 | ) | – | |||||
| Net cash flows used in operating activities | (4,425,752 | ) | (1,016,362 | ) | ||||
| Cash flows from financing activities: | ||||||||
| Proceeds of private equity offering | 1,087,000 | – | ||||||
| Borrowings under line of credit | 500,000 | – | ||||||
| Repayments of line of credit | (116,462 | ) | – | |||||
| Borrowings under short-term nots payable | 5,106,343 | – | ||||||
| Repayments of short-term nots payable | (2,503,120 | ) | – | |||||
| Proceeds from exercise of common stock warrants | 160,400 | – | ||||||
| Net cash flows from financing activities | 4,234,161 | – | ||||||
| Net decrease in cash and cash equivalents | (191,591 | ) | (1,016,362 | ) | ||||
| Cash and cash equivalents at beginning of period | 986,427 | 2,002,789 | ||||||
| Cash and cash equivalents at end of period | $ | 794,836 | $ | 986,427 | ||||
| Supplemental disclosures of cash flow information: | ||||||||
| Cash paid for interest | $ | 136,580 | $ | – | ||||
| Cash paid for income taxes | – | – | ||||||
| Supplemental investing and financing activities: | ||||||||
| ROU asset recognized from operating lease | $ | 221,110 | $ | – | ||||
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