NeoVolta Inc. (NASDAQ:NEOV) are trading lower on Wednesday. Last week, the company reported mixed financial results and strategic updates.
The designer and manufacturer of energy storage systems announced a third-quarter loss per share of 8 cents. It beat the consensus loss of 12 cents. Meanwhile, revenue of $2 million, came below analyst expectations of $3.41 million.
The results were impacted by a slowdown in the residential solar market following the expiration of the U.S. residential solar investment tax credit at the end of 2025.
Gross margin expanded to ~46% versus ~26% a year earlier, driven by a higher-margin product mix.
Cash stood at approximately $11.5 million as of March 31, 2026.
CEO …