NeoVolta (NASDAQ:NEOV) held its third-quarter earnings conference call on Friday. Below is the complete transcript from the call.
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Access the full call at https://viavid.webcasts.com/starthere.jsp?ei=1762533&tp_key=aa34386620
Summary
NeoVolta reported a revenue of approximately $2 million for Q3 2026, consistent with the same period last year, with a nine-month revenue increase of 262% year-over-year to $13.3 million.
The company is transitioning into a vertically integrated energy solutions platform, with significant progress at the Georgia manufacturing facility, including equipment arrival and installation set for June.
NeoVolta increased its ownership in NeoVolta Power LLC to 80% and is enhancing commercial agreements, aiming to capitalize on the US Clean energy sector growth opportunities.
Despite near-term headwinds due to the expiration of the Federal Solar Investment Tax Credit, the company is optimistic about the residential storage market and is preparing for the NV Wave Modular platform launch.
NeoVolta was recognized as the 2026 Energy Storage Company of the Year by Cleantech Breakthrough, affirming its market position and strategic direction.
Full Transcript
OPERATOR
Greetings and welcome to NeoVolta third quarter fiscal 2026 earnings conference call. At this time, all participants are on a listen only mode. A question and answer will follow the formal presentation. If anyone should require operator assistance during the conference, please press Star 0 on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Mr. Artis Johnson. Thank you. You may begin.
Artis Johnson (Chief Executive Officer)
Thank you Operator and good morning everyone. Welcome to NeoVolta’s third quarter fiscal 2026 earnings call. I am Artis Johnson, Chief Executive Officer and I’m joined today by our Chief Financial Officer, Steve Bond. Before we begin, I would like to remind everyone that our remarks today will include forward looking statements within the meaning of federal securities laws. These statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from what we discussed today. For more information, please refer to the full Safe harbor statement on Slide 2 of our Investor presentation, as well as the risk factors Described in our Form 10K for the year ended June 30, 2025 and our Form 10Q for for the quarter ending March 31, 2026 filed with the SEC. We do not undertake any obligation to update these forward looking statements except as required by law. With that, let me turn to the quarter. On our last earnings call in February, we spent a significant amount of time walking investors through our strategy and vision the transformation of NeoVolta from a residential focused storage provider into a vertically integrated energy solutions platform spanning residential, C&I and utility scale markets. We laid out the roadmap in detail. We explained why we believe this is the right moment to build this platform and why Neo Volta is uniquely positioned to capture the opportunity. This quarter the story shifts from vision to execution and I’m pleased to report that the progress has been real and meaningful across every dimension of our platform. Before I walk through that progress, I want to address an important leadership announcement we made this week alongside our earnings release. We have appointed Gene Nealis as NeoVolta’s new Chief financial officer, effective May 18. Gene brings more than 20 years of financial leadership experience with deep expertise in the energy transition technology and manufacturing sectors. Most recently, she served as a CFO of SES AI Corporation where she led the company through a period of significant transformation and growth, raising substantial capital, expanding operations and establishing multiple revenue generating business units. Jing joins at exactly the right moment, we are ramping a domestic manufacturing platform, expanding commercial operations across multiple verticals, and pursuing one of the most significant growth opportunities in the US Clean energy sector. Her experience navigating this kind of complexity is precisely what the phase of NeoVolta’s growth requires. I want to take a moment to recognize Steve Bond. Steve has been a cornerstone of NeoVolta since the beginning. As co founder and CFO, he helped build the financial foundation that has made everything we are doing today possible and I’m grateful for his contributions. Steve is not going anywhere. He is stepping into a critical new role as Executive Vice President and President of NeoVolta Power LLC where he will lead our Georgia manufacturing facility through the production ramp and into mass output. Getting that plant to commercial production on time is mission critical for NeoVolta and there is no one I would rather have running it. Steve, thank you for everything and I know the best is still ahead. Now let me turn to the key highlights from the quarter and our progress since. Let me start where I believe the focus belongs the Georgia facility. Our manufacturing joint venture, NeoVolta Power LLC is on track. This is what the investment community has been watching closely and I want to be direct about where we stand. I am pleased to report that our manufacturing equipment has started to arrive on site at our Georgia facility. Installation is targeted for June and we expect initial production to begin ramping in Q3 of this calendar year. I want to put this into perspective. We formed this joint venture in January of this year. In less than six months we have secured a facility, finalize our production design, accepted equipment, and are weeks away from installing that equipment and commissioning our production line. That is a significant pace of execution. I also want to remind investors of something that is increasingly important in this market. NeoVolta Power is being structured to be fully FIAC compliant. We are one of only a handful of best suppliers in the United States that can offer FIAC compliant domestically assembled systems that qualify for the IRS Section 45X Advanced Manufacturing Production Credits and Section 48E Investment Tax Credits, including potential domestic content bonus treatment. As BEST demand continues to ramp and as procurement decisions increasingly turn on incentive qualification and supply chain compliance, this is a meaningful and durable competitive advantage. In April, we further strengthened that platform by increasing our ownership interest in neovolta power from 60 to 80% at no new cash cost while retaining full board and operational control. At the same time, we expanded our commercial agreement with POTUS Edge to support business development and customer engagement as we approach production. These are deliberate steps to deepen our economic stake and commercial reach as we near first output. Turning to our C&I platform, this quarter marked a defining commercial milestone. In March we received our first purchase order from Luminia LLC. The initial order, valued at approximately 1.9 million for 40 units of our NVGain 125K261 commercial industrial battery storage system, is the first concrete transaction under the Strategic Supply Collaboration framework we announced in December of 2025. Luminia is one of the most active C&I energy storage developers in the United States with contracted demand for approximately 160 megawatt hours and an additional pipeline of approximately 640 megawatt hours. This initial purchase order is the first step in what we expect to be a sustained multi year commercial relationship representing approximately 39 million in potential equipment revenue under the broader collaboration framework. On the utility scale front, we are in active discussions with prospective customers and partners as we build out our commercial pipeline. In this market, we are encouraged by the early engagement we are seeing and believe our integrated platform and domestic manufacturing capabilities position us well to compete. We will provide updates as this business develops further. Residential remains our foundation. We continue to expand our national installer and distributor network during the quarter with activity across Texas, Puerto Rico and additional new markets. Demand in the quarter was affected by the expiration of the Federal Solar Investment Tax Credit for individuals at the end of December 2025 which created a near term headwind across the residential, solar and storage market. We believe this is a temporary dynamic. The underlying drivers of residential storage adoption, resiliency, energy independence and cost savings remain firmly …
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