NeoVolta, Inc. reported financial results for the fiscal year and fourth quarter ended June 30, 2026, revealing a significant revenue increase alongside a widening net loss. For the fiscal year 2026, total revenue reached $13.3 million, representing a 58% year-over-year increase compared to $8.4 million in fiscal year 2025. This growth was attributed to the company's expansion beyond its historical residential base.
However, the company reported a GAAP net loss of $21.5 million for fiscal year 2026, or $(0.55) per share, compared to a net loss of $5.0 million, or $(0.15) per share, in the prior year. The fourth quarter of fiscal year 2026 saw a substantial decline in revenue to approximately $13.5 thousand, down from $4.8 million in the same period of fiscal year 2025. This drop was attributed to a decline in residential and traditional installer-channel sales following federal tax law changes in early calendar year 2026. The fourth quarter GAAP net loss was $11.7 million, driven by a $3.9 million provision for credit losses and bad debt expenses and $1.1 million of residential inventory obsolescence reserve.
Adjusted EBITDA for fiscal year 2026 was a loss of $(12.8) million, compared to a loss of $(2.6) million in fiscal year 2025. This is the first period the company has disclosed Adjusted EBITDA as a supplemental non-GAAP measure. As of June 30, 2026, the company held $22.2 million in cash and cash equivalents, plus $3.2 million in restricted cash, for a total of $25.4 million following a public offering in May 2026.
Operational highlights for the year included the launch of NeoVolta Power, LLC, an 80%-owned utility and C&I scale energy storage manufacturing joint venture in Pendergrass, Georgia. The company also received confirmation of Foreign Entity of Concern (FEOC) compliance for the facility and products, positioning them for eligibility under the Inflation Reduction Act (IRA) Section 48E. Additionally, the company expanded its commercial pipeline, including a non-binding letter of intent with Infinite Grid Capital for approximately 1.1 GWh of utility-scale battery systems, and subsequently entered a binding capacity reservation agreement with Infinite Grid Capital for datacenter projects in North Ontario for calendar year 2027.
Subsequent to fiscal year-end, on August 31, 2026, NeoVolta Power announced a five-year strategic collaboration with SK On. This collaboration includes a signed agreement for SK On to supply 9 GWh of U.S.-manufactured LFP battery cells from 2027 through 2031, along with a framework for broader collaboration. The company also entered into a senior secured term loan facility providing $20 million in initial funding, with the potential to increase the aggregate loan commitment by up to an additional $10 million.
