NeoVolta Reports Financial Results for Quarter Ended September 30, 2026
Residential revenue rebounds sequentially, supported by initial third-party ownership platform activity
Pendergrass manufacturing facility ramp on schedule
Utility-scale $116M Master Purchase Agreement for products built at the Georgia facility with deliveries anchoring the plant’s 2027 production ramp
SAN DIEGO, Nov. 12, 2026 (GLOBE NEWSWIRE) -- NeoVolta Inc. (NASDAQ: NEOV) (“NeoVolta” or the “Company”), a U.S.-based energy technology company delivering scalable energy storage solutions, today announced financial results for the quarter ended September 30, 2026.
Quarter Ended September 30, 2026 Financial Highlights
Business Highlights
During the quarter ended September 30, 2026, and subsequent to quarter-end, NeoVolta advanced its domestic manufacturing platform, expanded customer commitments and began generating revenue through its residential TPO platform.
“Our focus is straightforward: execute the Pendergrass ramp, meet customer requirements and convert pipeline to committed backlog,” said Ardes Johnson, Chief Executive Officer of NeoVolta. “The backlog from utility-scale and C&I customers and residential recovery going into 2027 give us a more defined foundation for growth. Our pipeline remains robust, with continued interest in U.S.-made energy storage systems, and our priority is to deliver against the opportunities we have secured.”
“Our results for the quarter ended September 30, 2026 reflect initial execution of our residential TPO business model alongside continued investment in our manufacturing platform and operating capabilities,” said Jing Nealis, Chief Financial Officer of NeoVolta. “We ended the quarter with $28.8 million in cash, restricted cash and cash equivalents following the completion of our senior secured term loan financing. As we prepare for increased manufacturing activity, our capital allocation priorities remain focused on working capital, customer delivery requirements and disciplined investment aligned with our customers demand.”
Conference Call Information
NeoVolta will host a conference call and webcast on Thursday, November 12, 2026, at 5:00 p.m. Eastern Time to discuss its first quarter fiscal 2027 financial and operating results. Management will also discuss recent operational progress and strategic priorities, followed by a question-and-answer session.
A telephonic replay will be available from 9:00 p.m. Eastern Time on November 12, 2026, through Thursday, November 26, 2026. To access the replay, dial +1 (844) 512-2921 and enter replay PIN 10213108.
The webcast replay and accompanying presentation will be available on the Investor Relations section of the Company’s website at neovolta.com/investors.
About NeoVolta
NeoVolta is an innovator in energy storage solutions dedicated to advancing reliable, high-performance power infrastructure for residential, commercial, and utility applications. With a focus on scalable technology, domestic manufacturing, and strategic partnerships, NeoVolta is positioned to support the accelerating transition toward resilient energy systems.
For more information, visit www.neovolta.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the production ramp and commercial production at the Company’s Pendergrass, Georgia facility, the SK Battery America supply agreement and related pack collaboration, expected recovery in residential volumes, conversion of pipeline opportunities into binding orders, the Company’s manufacturing agreements and related potential purchase orders and delivery schedules, the Company’s commercial and industrial sales commitments, the Company’s senior secured term loan facility, and the Company’s growth plans and strategic priorities. These statements are based on current expectations and assumptions that are subject to risks and uncertainties, and actual results may differ materially. Factors that could cause actual results to differ include, among others, risks related to the Company’s manufacturing ramp and facility commissioning, joint venture execution, customer order conversion, residential market conditions, changes in federal tax policy or IRA incentive programs, supply arrangements including the SK Battery America collaboration, availability and terms of additional financing, and access to capital, as well as other factors described in the Company’s filings with the U.S. Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The Company undertakes no obligation to update any forward-looking statements, except as required by law.
Non-GAAP Financial Measures
To supplement our financial results presented on a basis in conformity with generally accepted accounting principles in the United States (“GAAP”), we use the non-GAAP measure: Adjusted EBITDA which excludes from our GAAP net loss, interest, taxes, depreciation and amortization, as well as other significant expenses including stock-based compensation that we believe are helpful in understanding our past financial performance. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP.
Management believes that these non-GAAP financial measures reflect our ongoing business in a manner that allows for meaningful comparisons and analysis of trends in its business, as they exclude expenses and gains not reflective of ongoing operating results or that may be infrequent and/or unusual in nature. We exclude the nonoperating credit loss expenses as these costs were non-operational in nature and they are not indicative of our ongoing operational results. We also adjust for the effect of stock-based compensation expenses noting that such expenses will recur in future periods. Although stock-based compensation is a key incentive offered to our employees, we continue to evaluate our business performance internally excluding stock-based compensation expenses.
Management also believes that these non-GAAP financial measures provide useful information to investors in understanding and evaluating our operating results and future prospects in the same manner as management and in comparing financial results across accounting periods and to those of peer companies. These non-GAAP measures may not be comparable to similarly titled measures presented by other companies. In this press release, we have provided a reconciliation of non-GAAP Adjusted EBITDA to GAAP net loss, the most directly comparable GAAP financial measure, in the tables that follow.
Contacts
NEOV Investors
Bryan Baritot
Alliance Advisors IR
ir@neovolta.com
NEOV Media
Email: press@neovolta.com
Phone: 800-364-5464