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NeoVolta
(NASDAQ:NEOV)
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Rating:48Neutral
Price Target:
$3.00
▼(-11.50% Downside)
Action:Reiterated
Date:10/03/26
NEOV scores low primarily due to very weak financial performance (zero/volatile revenue, persistent losses, and deep negative cash flow) despite an improved balance sheet. Technicals remain soft with negative MACD and weak momentum, while valuation provides limited support given negative earnings and no dividend. Offsetting these is a moderately constructive earnings-call outlook tied to the manufacturing ramp and pipeline progress, though execution risk and funding/capital-structure considerations remain meaningful.
Positive Factors
Revenue Expansion
The 58% fiscal-year revenue increase indicates NeoVolta expanded beyond its historical residential base and gained broader market reach. If the company can sustain this growth through its new commercial and utility offerings, greater scale could support stronger operating leverage over the next several quarters.
Negative Factors
Unstable Commercialization
Revenue reaching zero in FY2026 demonstrates that NeoVolta’s commercialization has not yet become dependable, despite prior growth. Such volatility makes it difficult to absorb fixed operating costs, validate the business model, or establish a durable earnings base until production and customer deliveries stabilize.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Expansion
The 58% fiscal-year revenue increase indicates NeoVolta expanded beyond its historical residential base and gained broader market reach. If the company can sustain this growth through its new commercial and utility offerings, greater scale could support stronger operating leverage over the next several quarters.
Read all positive factors
NeoVolta (NEOV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$174.68M
Dividend YieldN/A
Average Volume (3M)1.78M
Price to Earnings (P/E)―
Beta (1Y)1.21
Revenue Growth58.22%
EPS Growth-243.18%
CountryUS
Employees17
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)-0.51
Shares Outstanding59,013,250
10 Day Avg. Volume2,118,775
30 Day Avg. Volume1,784,823
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)3.13
Price to Sales (P/S)9.28
P/FCF Ratio-8.15
Enterprise Value/Market Cap0.77
Enterprise Value/Revenue10.11
Enterprise Value/Gross Profit76.49
Enterprise Value/Ebitda-7.07
Forecast
1Y Price Target
$11.33Price Target Upside234.32% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-0.3
Revenue Forecast (FY)$97.39M
NeoVolta Business Overview & Revenue Model
Company Description
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 comme...
How the Company Makes Money
NeoVolta primarily makes money by selling its battery energy storage systems and related equipment into the solar-plus-storage market. Revenue is generally generated when NeoVolta sells systems through distribution and installer channels (e.g., so...
NeoVolta Earnings Call Summary
Earnings Call Date:Sep 23, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Nov 17, 2026
Earnings Call Sentiment Positive
The call presented substantial strategic and operational progress, including the opening of the Pendergrass facility, a 58% increase in fiscal-year revenue, new domestic manufacturing and supply relationships, early demand visibility, and planned capacity expansion. However, the quarter was materially weak, with revenue falling to approximately $13,000, significantly larger GAAP net losses, worsening adjusted EBITDA, credit-loss provisions, inventory reserves, and continued execution requirements before the pipeline becomes binding orders. The positive strategic developments outweighed the stated challenges, but the financial results and near-term ramp risks remained significant.Positive Updates
Fiscal-Year Revenue Growth
Fiscal year 2026 revenue increased 58% to $13.3 million from $8.4 million in fiscal year 2025, reflecting expansion beyond NeoVolta's historical residential base.
Negative Updates
Sharp Fourth-Quarter Revenue Decline
Fourth-quarter revenue was approximately $13,000 compared with $4.8 million in the prior-year fourth quarter. Management attributed the decline primarily to the sharp slowdown in residential and traditional installer channel demand following changes in the federal incentive environment earlier in calendar year 2026.
Read all updates
Q4-2026 Updates
Positive
Negative
Fiscal-Year Revenue Growth
Fiscal year 2026 revenue increased 58% to $13.3 million from $8.4 million in fiscal year 2025, reflecting expansion beyond NeoVolta's historical residential base.
Read all positive updates
Company Guidance
Fiscal year 2027 priorities are to execute the Pendergrass ramp, with initial production remaining on track, convert opportunities into binding orders, and support a sequential recovery in residential volumes as fiscal year 2027 progresses; NeoVolta expects to start receiving orders between now and the end of this year, build its first 10 units and start delivering that product this year, complete the SK On pack agreement in 6 to 8 weeks, begin moving into Line 2 at the beginning of next fiscal year, start producing from that line in the middle of next calendar year, and reach the second half of next calendar year for the additional pack capacity, with the Pendergrass facility moving from 2 to 4 to 6 to 8 gigawatt-hours and toward its target of 8 gigawatt hours of annual BESS production capacity in 2028; the commercial product is expected in the second quarter of next calendar year, with first deliveries in February, March, April time next year, following certification that could take 2 to 3 months, while the company expects the final BESS pace to remain the same as needed, with the potential to move to 1 to 2 shifts at the BESS on the back end.NeoVolta Financial Statement Overview
Summary
Income Statement
10
Very Negative
Balance Sheet
52
Neutral
Cash Flow
18
Very Negative
| Breakdown | Jun 2026 | Sep 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 13.33M | 8.43M | 2.65M | 3.46M | 4.47M |
| Gross Profit | 1.76M | 1.51M | 510.35K | 688.00K | 667.13K |
| EBITDA | -19.06M | -4.63M | -1.87M | -1.11M | 0.00 |
| Net Income | -21.47M | -5.03M | -2.30M | -2.64M | -5.80M |
Balance Sheet | |||||
| Total Assets | 53.64M | 6.81M | 4.66M | 6.51M | 4.13M |
| Cash, Cash Equivalents and Short-Term Investments | 22.20M | 794.84K | 986.43K | 2.00M | 330.38K |
| Total Debt | 9.21M | 3.13M | 0.00 | 0.00 | 1.12M |
| Total Liabilities | 14.07M | 3.90M | 61.10K | 39.49K | 1.51M |
| Stockholders Equity | 39.57M | 2.91M | 4.60M | 6.47M | 2.62M |
Cash Flow | |||||
| Free Cash Flow | -15.19M | -4.43M | -1.02M | -2.11M | -1.16M |
| Operating Cash Flow | -15.19M | -4.43M | -1.02M | -2.11M | -1.16M |
| Investing Cash Flow | -8.63M | 0.00 | 0.00 | 0.00 | 0.00 |
| Financing Cash Flow | 48.38M | 4.23M | 0.00 | 3.78M | 1.07M |
NeoVolta Technical Analysis
Neutral
3.39
Price Trends
3.14
Negative
2.70
Positive
3.11
Negative
Market Momentum
-0.16
Positive
46.16
Neutral
68.47
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NEOV, the sentiment is Neutral. The current price of 3.39 is above the 20-day moving average (MA) of 3.08, above the 50-day MA of 3.14, and above the 200-day MA of 3.11, indicating a bearish trend. The MACD of -0.16 indicates Positive momentum. The RSI at 46.16 is Neutral, neither overbought nor oversold. The STOCH value of 68.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for NEOV.
NeoVolta Risk Analysis
NeoVolta disclosed 37 risk factors in its most recent earnings report. NeoVolta reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
NeoVolta Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
57 Neutral | $107.14M | -16.33 | -4.95% | ― | 4.69% | -304.68% | |
48 Neutral | $174.68M | -5.57 | -124.68% | ― | 58.22% | -243.18% | |
47 Neutral | $1.44B | -6.02 | -22.15% | ― | 1.09% | 62.70% | |
43 Neutral | $11.14M | -1.28 | -261.63% | ― | -36.58% | 5.31% | |
43 Neutral | $65.44M | -0.47 | -63.44% | ― | -52.63% | -7.51% | |
42 Neutral | $6.31M | -0.05 | -1934.84% | ― | -119.02% | 53.13% |
* Industrials Sector Average
NEOV
NeoVolta
2.85
-2.87
-50.17%
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FLUX
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0.49
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GWH
ESS Tech
0.16
-1.73
-91.80%
NVX
NOVONIX Ltd Sponsored ADR
2.56
-17.95
-87.54%
NeoVolta Corporate Events
Business Operations and StrategyPrivate Placements and Financing
NeoVolta Secures $20 Million Term Loan Financing
Positive
Sep 4, 2026
On September 4, 2026, NeoVolta entered into a $20 million secured term loan agreement with Horizon Technology Finance, ROHO Capital Opportunity Fund and Monroe Capital, with potential expansion by up to $10 million subject to conditions. The loans...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.