The company posted a quarterly loss of 16 cents per share, a sharp increase from the 3-cent loss reported during the same period last year. Revenue, however, provided a bright spot, climbing to $4.6 million from just $1.1 million a year ago. NeoVolta attributed this top-line momentum to an aggressive push into new geographic markets and the diversification of its distribution channels.
In section Market Quotes
NeoVolta Shares Slide 12% as Widening Q2 Loss Eclipses Revenue Growth
NeoVolta stock dropped 12% to $3.28 after the energy technology firm reported a second-quarter loss that ballooned to $5.5 million, even as revenue saw a fourfold increase. While the company successfully scaled its distribution footprint, the bottom line was weighed down by significant stock-based compensation and non-operating charges.
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