NeoVolta's FY2026 revenue rose 58% to $13.3 million, but Q4 revenue fell to $13,000 from $4.8 million a year earlier. Executives linked the drop to weaker residential-installer demand after federal incentive changes; full-year net loss was $21.5 million.
The 210,600-square-foot Pendergrass, Georgia, factory officially opened last week; its first production line is undergoing commissioning and site-acceptance tests, and NeoVolta said initial production remains on track. A signed five-year agreement calls for SK On to supply 9 gigawatt-hours of U.S.-made LFP cells from 2027 to 2031. A framework for another 9 GWh of cells and SK On purchases of NeoVolta-made packs remains subject to final commercial terms and order documents. NeoVolta said a second line could help bring annual factory capacity to 8 GWh in 2028.
Q4 GAAP loss rose to $11.7 million from $1.6 million a year earlier; management cited $3.9 million in credit-loss and bad-debt charges and $1.1 million in residential inventory reserves. Year-end cash and equivalents totaled $22.2 million, with $3.2 million restricted. After year-end, a $20 million senior secured term loan was funded; up to $10 million more may be available subject to mutual agreement and specified conditions. Management cited 1.1 GWh of early demand visibility under a nonbinding Infinite Grid Capital LOI representing about $200 million in potential deployments; it said about $53 million was secured through a binding capacity-reservation agreement.
