Overview

• U.S. energy storage firm's fiscal Q3 revenue was flat yr/yr at $2.0 mln

• Company cited residential solar slowdown after federal tax credit expiration for flat revenue

• Net loss widened on higher investment in infrastructure, R&D, and manufacturing ramp-up

Outlook

• Company expects Georgia facility production ramp to begin in Q3 of calendar 2026

• NeoVolta preparing to launch NVWAVE modular battery platform commercially

• Management actively evaluating financing options to support joint venture obligations and growth

Result Drivers

• RESIDENTIAL SOLAR SLOWDOWN - Co said flat revenue reflected a slowdown in the residential solar market after the federal solar investment tax credit for individuals expired at the end of 2025

• HIGHER-MARGIN PRODUCT MIX - Co said gross margin improved due to a higher-margin product mix during the quarter

• STRATEGIC INVESTMENT - Co said increased operating expenses and net loss reflected planned investment in commercial infrastructure, R&D for NVWAVE platform, and manufacturing ramp-up

Company press release: ID:nGNX29SLyW

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q3 Revenue	Miss	$2 mln	$3.41 mln (2 Analysts)
Q3 EPS		-$0.08

Analyst Coverage

• The one available analyst rating on the shares is "hold"

• The average consensus recommendation for the electrical components & equipment peer group is "buy."

• Wall Street's median 12-month price target for NeoVolta Inc is $6.00, about 100.7% above its May 13 closing price of $2.99

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