NEOV · NeoVolta Inc.
NeoVolta Inc. designs, manufactures, and sells energy storage systems in the United States. The company provides NV14, NV14-K, and NV 24 energy storage systems, which stores and uses energy through batteries and an inverter at residential or commercial sites; and NV16KAC. It markets and sells its products directly to certified solar installers and solar equipment distributors. The company was founded in 2018 and is headquartered in Poway, California.
Cap structure and valuation
| Cap structure | |
|---|---|
| SP | $2.18 |
| SO | 42.7M |
| Options | 1.2M |
| Warrants | 1.2M |
| FD SO | 45.1M |
| MC | $98.3M |
| Cash | $11.5M |
| Total debt | $0.6M |
| EV | $87.4M |
| TTM Multiples | |
|---|---|
| EV / Revenue | 4.8x |
| EV / EBITDA | — |
| MC / Net Income | — |
| EV / FCF | — |
| MC / FCF | — |
| Ownership & coverage | |
|---|---|
| Institutional | 19.2% |
| Insiders | 16.6% |
| # Institutions | 43 |
| Analysts | 3 |
| Consensus | Buy |
| Avg target | $8.00 |
| Short % float | 7.7% |
| Days to cover | 0.81 |
MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2026-05-14. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-07-13 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest per FINRA bi-monthly reporting, as of 2026-06-29; the float denominator can be unreliable on tiny floats.
Financial statements
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Total Revenue | 2.02 | 4.65 | 6.65 | 4.75 |
| Revenue YoY % | 0.5% | 333.5% | 1026.7% | 720.2% |
| Cost of Revenue | 1.10 | 3.87 | 5.07 | 4.18 |
| Gross Profit | 0.93 | 0.77 | 1.58 | 0.58 |
| Gross Profit YoY % | 80.3% | 138.5% | 1598.8% | 3254.0% |
| Gross Margin % | 45.8% | 16.6% | 23.7% | 12.1% |
| SG&A | 3.02 | 5.08 | 2.37 | 1.93 |
| R&D | 0.40 | 0.06 | 0.06 | 0.08 |
| Operating Expense | 3.55 | 5.25 | 2.43 | 2.01 |
| Operating Income | (2.63) | (4.48) | (0.85) | (1.43) |
| Operating Income YoY % | (91.5%) | (372.7%) | 11.6% | (95.2%) |
| Operating Margin % | (129.7%) | (96.4%) | (12.8%) | (30.2%) |
| EBITDA | (2.50) | (4.37) | — | — |
| EBITDA Margin % | (123.4%) | (94.0%) | — | — |
| Interest Expense | 0.05 | (0.00) | (0.00) | 0.22 |
| Other Income / (Expense) | — | (1.06) | — | — |
| Pretax Income | (3.03) | (5.54) | (1.24) | (1.65) |
| Net Income | (3.03) | (5.54) | (1.24) | (1.65) |
| Net Margin % | (149.6%) | (119.2%) | (18.7%) | (34.7%) |
| Diluted EPS | -$0.08 | -$0.16 | -$0.04 | -$0.05 |
| Basic EPS | -$0.08 | -$0.16 | -$0.04 | -$0.05 |
| Diluted Avg Shares | 40.2 | 35.0 | 34.2 | — |
| Basic Avg Shares | 40.2 | 35.0 | 34.2 | — |
| LTM | 6/30/25 | 6/30/24 | 6/30/23 | 6/30/22 | |
|---|---|---|---|---|---|
| Total Revenue | 18.07 | 8.43 | 2.65 | 3.46 | 4.47 |
| Revenue YoY % | 114.4% | 218.6% | (23.5%) | (22.7%) | — |
| Cost of Revenue | 14.22 | 6.92 | 2.13 | 2.77 | 3.81 |
| Gross Profit | 3.85 | 1.51 | 0.51 | 0.69 | 0.67 |
| Gross Profit YoY % | 155.7% | 195.2% | (25.8%) | 3.1% | — |
| Gross Margin % | 21.3% | 17.9% | 19.3% | 19.9% | 14.9% |
| SG&A | 12.41 | 6.07 | 2.83 | 3.29 | 6.35 |
| R&D | 0.60 | 0.16 | 0.02 | 0.03 | 0.07 |
| Operating Expense | 13.24 | 6.22 | 2.85 | 3.32 | 6.42 |
| Operating Income | (9.39) | (4.72) | (2.34) | (2.64) | (5.76) |
| Operating Income YoY % | (99.1%) | (101.8%) | 11.3% | 54.2% | — |
| Operating Margin % | (52.0%) | (56.0%) | (88.4%) | (76.3%) | (128.7%) |
| Interest Expense | 0.27 | 0.32 | 0.00 | 0.00 | 0.05 |
| Other Income / (Expense) | (1.80) | — | — | — | — |
| Pretax Income | (11.46) | (5.03) | (2.30) | (2.64) | (5.80) |
| Tax Provision | — | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income | (11.46) | (5.03) | (2.30) | (2.64) | (5.80) |
| Net Margin % | (63.4%) | (59.7%) | (87.1%) | (76.4%) | (129.8%) |
| Diluted EPS | -$0.33 | -$0.15 | -$0.07 | -$0.08 | -$0.28 |
| Basic EPS | -$0.33 | -$0.15 | -$0.07 | -$0.08 | -$0.28 |
| Diluted Avg Shares | 40.2 | 33.6 | 33.2 | 32.0 | 20.6 |
| Basic Avg Shares | 40.2 | 33.6 | 33.2 | 32.0 | 20.6 |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Cash & Equivalents | 11.48 | 0.24 | 0.89 | 0.79 |
| Receivables | 6.13 | 5.31 | 5.21 | 2.98 |
| Inventory | 2.19 | 1.86 | 1.48 | 2.14 |
| Other Current Assets | 2.43 | — | 0.78 | 0.75 |
| Total Current Assets | 22.23 | 7.78 | 8.36 | 6.66 |
| Net PPE | 1.31 | 0.09 | — | 0.00 |
| Operating Lease ROU | 0.84 | 0.87 | 0.09 | 0.14 |
| Intangible Assets | 1.18 | 1.30 | — | 0.00 |
| Total Assets | 25.66 | 10.11 | 8.45 | 6.81 |
| Accounts Payable | 0.73 | 0.42 | 0.14 | 0.69 |
| Current Lease Liabilities | 0.10 | 0.08 | 0.09 | 0.14 |
| Other Current Liabilities | 1.91 | 3.21 | 5.45 | 2.68 |
| Total Current Liabilities | 2.74 | 3.71 | 5.68 | 3.51 |
| Long-term Lease Liabilities | 0.74 | 0.77 | — | 0.00 |
| Other Liabilities | — | 0.63 | 0.63 | — |
| Total Liabilities | 3.48 | 5.11 | 6.31 | 3.90 |
| Retained Earnings | (35.59) | (32.56) | (27.02) | (25.78) |
| Total Equity | 22.18 | 5.00 | 2.13 | 2.91 |
| LTM | 6/30/25 | 6/30/24 | 6/30/23 | 6/30/22 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 11.48 | 0.79 | 0.99 | 2.00 | 0.33 |
| Receivables | 6.13 | 2.98 | 1.81 | 1.83 | 1.32 |
| Inventory | 2.19 | 2.14 | 1.79 | 2.58 | 2.24 |
| Other Current Assets | 2.43 | 0.75 | — | — | — |
| Total Current Assets | 22.23 | 6.66 | 4.66 | 6.51 | 4.13 |
| Net PPE | 1.31 | 0.00 | — | — | — |
| Operating Lease ROU | 0.84 | 0.14 | 0.00 | — | — |
| Intangible Assets | 1.18 | 0.00 | — | — | — |
| Total Assets | 25.66 | 6.81 | 4.66 | 6.51 | 4.13 |
| Accounts Payable | 0.73 | 0.69 | 0.01 | 0.00 | 0.21 |
| Current Lease Liabilities | 0.10 | 0.14 | 0.00 | — | — |
| Other Current Liabilities | 1.91 | 2.68 | — | — | 1.25 |
| Total Current Liabilities | 2.74 | 3.51 | 0.06 | 0.04 | 1.45 |
| Long-term Lease Liabilities | 0.74 | 0.00 | — | — | — |
| Total Liabilities | 3.48 | 3.90 | 0.06 | 0.04 | 1.51 |
| Retained Earnings | (35.59) | (25.78) | (20.74) | (18.44) | (15.80) |
| Total Equity | 22.18 | 2.91 | 4.60 | 6.47 | 2.62 |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Net Income | (3.03) | (5.54) | (1.24) | (1.65) |
| D&A | 0.13 | 0.11 | — | — |
| Stock-Based Comp | — | 2.55 | 0.47 | 0.73 |
| Δ Working Cap & Other | — | 0.79 | (1.72) | (0.01) |
| Operating Cash Flow | — | (2.08) | (2.49) | (0.92) |
| Other Financing | — | 1.94 | 2.59 | 1.18 |
| Financing Cash Flow | — | 1.94 | 2.59 | 1.18 |
| LTM | 6/30/25 | 6/30/24 | 6/30/23 | 6/30/22 | |
|---|---|---|---|---|---|
| Net Income | (11.46) | (5.03) | (2.30) | (2.64) | (5.80) |
| Stock-Based Comp | — | 2.10 | 0.43 | 1.53 | 5.31 |
| Δ Working Cap & Other | — | (1.49) | 0.85 | (1.00) | (0.67) |
| Operating Cash Flow | — | (4.43) | (1.02) | (2.11) | (1.16) |
| Other Financing | — | 4.23 | — | 3.78 | 1.07 |
| Financing Cash Flow | — | 4.23 | 0.00 | 3.78 | 1.07 |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Current Ratio | 8.10 | 2.10 | 1.47 | 1.90 |
| Quick Ratio | 7.30 | 1.60 | 1.21 | 1.29 |
| Debt / Equity | 0.16 | 1.02 | 2.96 | 1.34 |
| EBITDA Margin % | (123.4%) | (94.0%) | — | — |
| Working Capital | 19.49 | 4.08 | 2.68 | 3.15 |
| Net Debt | — | — | — | — |
| ROE % | (13.7%) | (110.7%) | (58.3%) | (56.7%) |
| ROA % | (11.8%) | (54.8%) | (14.7%) | (24.2%) |
| LTM | 6/30/25 | 6/30/24 | 6/30/23 | 6/30/22 | |
|---|---|---|---|---|---|
| Current Ratio | 8.10 | 1.90 | 76.21 | 164.74 | 2.84 |
| Quick Ratio | 7.30 | 1.29 | 46.96 | 99.40 | 1.30 |
| Debt / Equity | 0.16 | 1.34 | 0.01 | 0.01 | 0.58 |
| EBITDA Margin % | — | — | — | — | — |
| Working Capital | 19.49 | 3.15 | 4.60 | 6.47 | 2.67 |
| Net Debt | — | — | — | — | — |
| ROE % | (51.7%) | (173.0%) | (50.1%) | (40.8%) | (221.8%) |
| ROA % | (44.7%) | (74.0%) | (49.5%) | (40.6%) | (140.7%) |
Insider activity (last 2 years)
| Date Filed | Reporter | Relationship | Trans. Date | Code | Shares | Price | Total Value |
|---|---|---|---|---|---|---|---|
| 2026-06-02 | Bond Steve | Director, Officer (Executive Vice President) | 2026-06-01 | P | 43,000 | $1.99 | $85,626 |
| 2026-05-20 | Bond Steve | Director, Officer (Executive Vice President) | 2026-05-19 | P | 47,000 | $2.09 | $98,131 |
| 2026-05-19 | Nealis Jing | Officer (Chief Financial Officer) | 2026-05-18 | A | 1,000,000 | — | $0 |
| 2026-05-19 | Nealis Jing | Officer (Chief Financial Officer) | 2026-05-18 | A | 25,000 | — | $0 |
| 2026-03-23 | Ibrahim Amany | Officer (Chief Operating Officer) | 2026-03-19 | M | 37,500 | — | $0 |
| 2026-03-23 | Ibrahim Amany | Officer (Chief Operating Officer) | 2026-03-19 | M | 37,500 | — | $0 |
| 2026-03-23 | Enzendorfer Thomas | Officer (Chief Technology Officer) | 2026-03-19 | M | 37,500 | — | $0 |
| 2026-03-23 | Enzendorfer Thomas | Officer (Chief Technology Officer) | 2026-03-19 | M | 37,500 | — | $0 |
| 2026-02-25 | Bond Steve | Director, Officer (Chief Financial Officer) | 2026-02-23 | D | (240,000) | — | $-0 |
| 2026-02-25 | Bond Steve | Director, Officer (Chief Financial Officer) | 2026-02-23 | A | 352,531 | — | $0 |
| 2026-02-25 | Johnson Henry Ardes | Director, Officer (CEO & President) | 2026-02-23 | D | (1,280,000) | — | $-0 |
| 2026-02-25 | Johnson Henry Ardes | Director, Officer (CEO & President) | 2026-02-23 | A | 1,880,166 | — | $0 |
| 2025-12-05 | Ibrahim Amany | Officer (Chief Operating Officer) | 2025-10-01 | A | 450,000 | — | $0 |
| 2025-12-05 | Enzendorfer Thomas | Officer (Chief Technology Officer) | 2025-10-01 | A | 450,000 | — | $0 |
| 2025-10-10 | Willson Brent | 10% Owner | 2025-10-08 | S | (500,000) | $0.01 | -$5,000 |
| 2025-02-07 | Bond Steve | Director, Officer (Chief Financial Officer) | 2025-02-04 | A | 240,000 | — | $0 |
| 2025-01-15 | Mendik Michael | Officer (Chief Operating Officer) | 2025-01-01 | A | 150,000 | — | $0 |
| 2024-10-22 | Snow Susan H | Director | 2024-10-18 | A | 25,626 | — | $0 |
| 2024-10-22 | Hass John A | Director | 2024-10-18 | A | 36,609 | — | $0 |
| 2024-10-22 | Amos James F | Director | 2024-10-18 | A | 36,609 | — | $0 |
| 2024-10-22 | Snow Susan H | Director | 2023-10-11 | A | 14,250 | — | $0 |