Executive Summary
NeoVolta Inc reported QQ3 2024 revenue of $283,900, a sharp YoY decline of 54.87% and a QoQ drop of 72.11%. The company posted a gross margin of 58.52% ($166,145 gross profit on $283,900 revenue), yet all measures of profitability remained negative: operating income at -$600,370 and EBITDA at -$589,473, with net income also -$589,473 and EPS -$0.0177. SG&A expenses stood at $756,118, dominating the cost base and driving the quarterly loss despite the strong gross margin. Cash flow from operations was -$485,330, leaving cash at period end of $1,013,962. The balance sheet shows a leveraged deficit position in accumulated retained earnings (-$20,013,460) but a solid equity base of $5,137,637 and a substantial cash cushion. Notably, liquidity ratios appear extremely favorable (current ratio 342.35, quick ratio 200.37, cash ratio 67.37), yet efficiency metrics imply unusual working capital dynamics (days sales outstanding ~598 days, days of inventory ~1,633 days). Management commentary is not included in the provided data; as a result, transcript-driven insights and quotes are not available for this quarter. The results depict a company in an investment phase with meaningful gross margin leverage but a need for revenue scale and expense discipline to reach profitability.
Key Performance Indicators
QoQ: -72.11% | YoY:-54.87%
QoQ: -19.30% | YoY:81.09%
Key Insights
Revenue: $283,900 in QQ3 2024; YoY vs. 2023 Q3: -54.87%; QoQ vs. 2024 Q2: -72.11%. Gross Profit: $166,145; Gross Margin: 58.52% (0.5852). Operating Income: -$600,370; Operating Margin: -2.11%. Net Income: -$589,473; Net Margin: -2.08%. EBITDA: -$589,473; EBITDA Margin: -2.08%. EPS: -$0.0177; Weighted Avg Shares: 33,236,091. Cash Flow: CFO -$485,330; Free Cash Flow: -$485,330. Balance Sheet: Cash & Equivalents $1,013,962; Total Current Assets $5,152,688; Total Assets $5,152,688; Total Current...
Financial Highlights
Revenue: $283,900 in QQ3 2024; YoY vs. 2023 Q3: -54.87%; QoQ vs. 2024 Q2: -72.11%. Gross Profit: $166,145; Gross Margin: 58.52% (0.5852). Operating Income: -$600,370; Operating Margin: -2.11%. Net Income: -$589,473; Net Margin: -2.08%. EBITDA: -$589,473; EBITDA Margin: -2.08%. EPS: -$0.0177; Weighted Avg Shares: 33,236,091. Cash Flow: CFO -$485,330; Free Cash Flow: -$485,330. Balance Sheet: Cash & Equivalents $1,013,962; Total Current Assets $5,152,688; Total Assets $5,152,688; Total Current Liabilities $15,051; Net Working Capital remains negative in the operating sense but with no long-term debt reported; Retained Earnings: -$20,013,460; Total Stockholders’ Equity: $5,137,637. Liquidity ratios reflect an extraordinary current and quick liquidity cushion (current ratio 342.35; quick ratio 200.37; cash ratio 67.37). Revenue concentration and working capital metrics imply a scale-up challenge; EV/Revenue and P/S multiples suggest a valuation lever driven by growth expectations rather than current profitability. YoY and QoQ changes are based on the provided quarterly comparisons; data consistency across quarters should be treated with caution given potential rounding and reporting idiosyncrasies.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
283.90K |
-54.87% |
-72.11% |
| Gross Profit |
166.15K |
81.09% |
-19.30% |
| Operating Income |
-600.37K |
5.13% |
-5.55% |
| Net Income |
-589.47K |
12.86% |
-6.01% |
| EPS |
-0.02 |
13.24% |
-5.99% |
Key Financial Ratios
operatingProfitMargin
-211%
operatingCashFlowPerShare
$-0.01
freeCashFlowPerShare
$-0.01
Management Commentary
Note: The earnings call transcript for QQ3 2024 is not provided in the data set. Transcript-driven insights and quotes are therefore unavailable. If an official transcript is retrieved, themes typically examined would include strategy execution (channel expansion, product mix, and go-to-market efficiency), operations (cost controls, supply chain resilience, and manufacturing scale), and market conditions (solar installation growth, regulatory incentives, and macro factors).
Forward Guidance
No explicit forward guidance was disclosed in the provided data for QQ3 2024. Investors should monitor: (1) trajectory of top-line growth to achieve operating leverage, (2) SG&A discipline relative to revenue to convert gross margin into operating profitability, (3) working capital dynamics given high DSO and DIO metrics (reported DSO ≈ 598 days, DIO ≈ 1,633 days, CCC ≈ 2,229 days), and (4) channel expansion efficiency with solar installers and distributors for the NV series (NV14, NV14K, NV24). Given the current quarter's negative earnings despite a healthy gross margin, an improvement in revenue scale and better working capital management are key invesment-sensitive catalysts. In the absence of formal guidance, the key factors investors should monitor include quarterly revenue progression, unit economics of the NV product family, and any announced cost-reduction initiatives or channel investments.