Twin Vee reveals Q2 results
Power sport boats manufacturer Twin Vee PowerCats Co. announced its financial results for the second quarter ended June 30, 2025.
In the second quarter of 2025, the company reported $4.8 million in revenue, up 9.9%, and a gross margin of 13.8%, an improvement of 910 basis points year-over-year. Cash, cash equivalents and restricted cash increased to $6.2 million in Q2.
Twin Vee also added 10 new dealer locations and acquired Bahama Boat Works in the second quarter of 2025.
“We are pleased to report another quarter of revenue growth and over 900 basis points of margin expansion in the second quarter,” said Joseph Visconti, CEO and president of Twin Vee PowerCats Co. “Our team continues to execute on a number of fronts, including new dealer expansion leading to revenue growth, cost improvement initiatives, integration of the newly acquired Bahama Boat Works and leveraging our boatsforsale.com website to enhance customer and dealer interaction with the new and used boat market infrastructure utilizing advanced AI tools. Looking ahead, we are expanding the Bahama Boat lineup to include 22, 24 and 28-foot models to complement their existing 35, 37, 41 and 41GT portfolio.”
