VEEE | Market Cap: $13.2M (07/13/26)
Industry:
Consumer Goods

DESCRIPTION

Twin Vee PowerCats designs and manufactures recreational powerboats at its Fort Pierce, Florida facility, selling boats under two brands: Twin Vee power catamarans (24–40 feet, priced from roughly $90,000 to $900,000) and Bahama Boat Works premium monohull center console boats (22–41 feet), acquired in mid-2025. Twin Vee sells almost exclusively through a network of 17 independent dealers across North America and Australia, who resell to end consumers. Revenue is driven by unit volume and model mix, with larger offshore boats carrying significantly higher prices. Dealers typically finance inventory through floor plan lenders, who pay Twin Vee upon delivery. Engine costs, sourced primarily from Suzuki, are the largest single cost component. Demand is seasonal, peaking in the second quarter. Twin Vee also has two early-stage adjacent initiatives: Wizz Banger, a used-boat valuation and retail platform that includes an AI-powered appraisal tool and licensed online marketplace assets, and Black Line Defense, a new subsidiary targeting U.S. defense and homeland security contracts for manned and autonomous maritime vessels, leveraging Twin Vee's existing composite manufacturing infrastructure.

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