NeoVolta (NEOV)
Market Price (6/22/2026): $2.81 | Market Cap: $98.4 MilSector: Industrials | Industry: Electrical Components & Equipment
NeoVolta (NEOV)
Market Price (6/22/2026): $2.81Market Cap: $98.4 MilSector: IndustrialsIndustry: Electrical Components & Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 615% Megatrend and thematic driversMegatrends include Renewable Energy Transition, Sustainable Infrastructure, and Smart Grids & Grid Modernization. Themes include Battery Storage & Grid Modernization, Show more. | Weak multi-year price returns2Y Excs Rtn is -43%, 3Y Excs Rtn is -81% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -8.1 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -45% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 26% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -42%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -42% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -14% High stock price volatilityVol 12M is 128% Key risksNEOV key risks include [1] its history of net losses and uncertain future profitability and [2] a dependence on single-source suppliers for crucial components. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 615% |
| Megatrend and thematic driversMegatrends include Renewable Energy Transition, Sustainable Infrastructure, and Smart Grids & Grid Modernization. Themes include Battery Storage & Grid Modernization, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -43%, 3Y Excs Rtn is -81% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -8.1 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -45% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 26% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -42%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -42% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -14% |
| High stock price volatilityVol 12M is 128% |
| Key risksNEOV key risks include [1] its history of net losses and uncertain future profitability and [2] a dependence on single-source suppliers for crucial components. |
Qualitative Assessment
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NeoVolta (NEOV) stock has lost about 5% since 2/28/2026 because of the following key factors:
1. Widening Losses in Fiscal Q2 2026.NeoVolta reported a significant increase in its net loss for fiscal Q2 2026, which ended December 31, 2025. The net loss for the quarter widened to $(5.5) million, or $(0.16) per share, a substantial increase compared to a $(1.0) million loss, or $(0.03) per share, in the prior fiscal Q2. Despite strong year-over-year revenue growth of 334% to $4.6 million, operating expenses surged to $5.2 million, largely driven by a $2.1 million increase in non-cash share-based compensation and investments in leadership and sales infrastructure. This widening loss, even amidst revenue growth, likely impacted investor confidence.
2. Dilutive Equity Offering in May 2026.In late May 2026, NeoVolta completed a public offering of common stock, raising approximately $23.5 million. This capital raise was intended to fund joint venture commitments, working capital, and general corporate needs. While providing necessary capital, such an offering typically leads to the dilution of existing shareholders' equity, which can exert downward pressure on the stock price.
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NeoVolta (NEOV) stock has lost about 5% since 2/28/2026 because of the following key factors:
1. Widening Losses in Fiscal Q2 2026.NeoVolta reported a significant increase in its net loss for fiscal Q2 2026, which ended December 31, 2025. The net loss for the quarter widened to $(5.5) million, or $(0.16) per share, a substantial increase compared to a $(1.0) million loss, or $(0.03) per share, in the prior fiscal Q2. Despite strong year-over-year revenue growth of 334% to $4.6 million, operating expenses surged to $5.2 million, largely driven by a $2.1 million increase in non-cash share-based compensation and investments in leadership and sales infrastructure. This widening loss, even amidst revenue growth, likely impacted investor confidence.
2. Dilutive Equity Offering in May 2026.In late May 2026, NeoVolta completed a public offering of common stock, raising approximately $23.5 million. This capital raise was intended to fund joint venture commitments, working capital, and general corporate needs. While providing necessary capital, such an offering typically leads to the dilution of existing shareholders' equity, which can exert downward pressure on the stock price.
3. Mixed Market Reaction to Non-Binding LOI and Residential Solar Slowdown.NeoVolta announced a non-binding Letter of Intent (LOI) with Infinite Grid Capital in late May 2026, signaling approximately $200 million in utility-scale deployments for up to 1.1 GWh of battery systems from its new Georgia factory, with production expected to ramp in calendar Q3 2026. Despite the large potential deal and its connection to the growing AI sector, the stock experienced a notable drop of approximately 24% following this announcement. This negative market reaction was primarily attributed to the LOI being non-binding, thus lacking guaranteed revenue, and the delayed production timeline of the Georgia facility. Additionally, the company's fiscal Q3 2026 revenue was impacted by a broader slowdown in the residential solar market, influenced by the expiration of the federal solar investment tax credit for individuals on December 31, 2025.
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Stock Movement Drivers
Fundamental Drivers
The -3.8% change in NEOV stock from 2/28/2026 to 6/21/2026 was primarily driven by a -3.8% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.89 | 2.78 | -3.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 18 | 18 | 0.0% |
| P/S Multiple | 5.6 | 5.4 | -3.8% |
| Shares Outstanding (Mil) | 35 | 35 | 0.0% |
| Cumulative Contribution | -3.8% |
Market Drivers
2/28/2026 to 6/21/2026| Return | Correlation | |
|---|---|---|
| NEOV | -3.8% | |
| Market (SPY) | 9.2% | 12.6% |
| Sector (XLI) | 2.4% | 14.4% |
Fundamental Drivers
The -31.5% change in NEOV stock from 11/30/2025 to 6/21/2026 was primarily driven by a -43.8% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.06 | 2.78 | -31.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 14 | 18 | 24.7% |
| P/S Multiple | 9.6 | 5.4 | -43.8% |
| Shares Outstanding (Mil) | 34 | 35 | -2.3% |
| Cumulative Contribution | -31.5% |
Market Drivers
11/30/2025 to 6/21/2026| Return | Correlation | |
|---|---|---|
| NEOV | -31.5% | |
| Market (SPY) | 9.9% | 18.7% |
| Sector (XLI) | 18.4% | 18.2% |
Fundamental Drivers
The -17.0% change in NEOV stock from 5/31/2025 to 6/21/2026 was primarily driven by a -79.7% change in the company's P/S Multiple.| (LTM values as of) | 5312025 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.35 | 2.78 | -17.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4 | 18 | 324.4% |
| P/S Multiple | 26.5 | 5.4 | -79.7% |
| Shares Outstanding (Mil) | 34 | 35 | -3.9% |
| Cumulative Contribution | -17.0% |
Market Drivers
5/31/2025 to 6/21/2026| Return | Correlation | |
|---|---|---|
| NEOV | -17.0% | |
| Market (SPY) | 28.1% | 17.4% |
| Sector (XLI) | 28.4% | 17.2% |
Fundamental Drivers
The -6.4% change in NEOV stock from 5/31/2023 to 6/21/2026 was primarily driven by a -42.1% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 5312023 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.97 | 2.78 | -6.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 18 | 0.0% |
| P/S Multiple | � | 5.4 | 0.0% |
| Shares Outstanding (Mil) | 20 | 35 | -42.1% |
| Cumulative Contribution | 0.0% |
Market Drivers
5/31/2023 to 6/21/2026| Return | Correlation | |
|---|---|---|
| NEOV | -6.4% | |
| Market (SPY) | 85.7% | 19.8% |
| Sector (XLI) | 95.3% | 18.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NEOV Return | - | -30% | -43% | 226% | -42% | -30% | -46% |
| Peers Return | 9% | -24% | -1% | -21% | 31% | 38% | 18% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| NEOV Win Rate | - | 17% | 33% | 58% | 42% | 50% | |
| Peers Win Rate | 45% | 42% | 43% | 43% | 47% | 53% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| NEOV Max Drawdown | - | - | -64% | -59% | -67% | -72% | |
| Peers Max Drawdown | -45% | -56% | -60% | -53% | -49% | -33% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TSLA, ENPH, GNRC, SEDG, RUN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)
How Low Can It Go
| Event | NEOV | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -47.6% | -18.8% |
| % Gain to Breakeven | 90.9% | 23.1% |
| Time to Breakeven | 23 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -36.8% | -9.5% |
| % Gain to Breakeven | 58.3% | 10.5% |
| Time to Breakeven | 152 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -43.0% | -6.7% |
| % Gain to Breakeven | 75.6% | 7.1% |
| Time to Breakeven | 20 days | 31 days |
In The Past
NeoVolta's stock fell -47.6% during the 2025 US Tariff Shock. Such a loss loss requires a 90.9% gain to breakeven.
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| Event | NEOV | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -47.6% | -18.8% |
| % Gain to Breakeven | 90.9% | 23.1% |
| Time to Breakeven | 23 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -36.8% | -9.5% |
| % Gain to Breakeven | 58.3% | 10.5% |
| Time to Breakeven | 152 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -43.0% | -6.7% |
| % Gain to Breakeven | 75.6% | 7.1% |
| Time to Breakeven | 20 days | 31 days |
In The Past
NeoVolta's stock fell -47.6% during the 2025 US Tariff Shock. Such a loss loss requires a 90.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About NeoVolta (NEOV)
NeoVolta Inc. specializes in the design, development, and manufacturing of advanced energy storage systems. The company's core mission is to provide efficient and reliable solutions for power management, primarily focusing on harnessing and storing renewable energy. By integrating cutting-edge battery technology with intelligent control systems, NeoVolta aims to empower consumers and businesses to achieve greater energy independence and resilience.
The company's primary products are its innovative line of residential and commercial energy storage systems, such as the NV14 and NV24. These systems feature high-capacity lithium iron phosphate (LiFePO4) batteries combined with an inverter and a sophisticated battery management system. They are designed to store electricity generated from solar panels or drawn from the utility grid, offering critical functionalities such as backup power during outages, demand charge management, and optimizing energy usage through time-of-use shifting.
NeoVolta's main customers are homeowners seeking to reduce their electricity bills, increase their energy independence, and ensure backup power during grid disruptions, especially those with solar panel installations. The company also serves commercial enterprises looking for scalable energy storage solutions to enhance operational resilience and manage energy costs. The primary markets include regions with high electricity rates, frequent power outages, and strong incentives for renewable energy adoption.
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Analogy 1: Tesla Powerwall for homes and businesses.
Analogy 2: Like Generac, but specializing in smart battery storage systems for solar energy.
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- NV14 Energy Storage System: A high-capacity residential energy storage system designed to store solar or grid electricity for home consumption and backup power.
- NV24 Energy Storage System: An upgraded and larger capacity residential energy storage system offering enhanced power output and energy storage for home backup and energy management.
- NV24X Energy Storage System: An expandable, high-capacity battery energy storage system suitable for larger residential and light commercial applications, providing significant energy resilience.
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NeoVolta Inc. (NEOV) primarily sells its energy storage systems and related products to other companies, specifically a network of authorized installers and distributors.
Historically, a significant customer for NeoVolta was:
- SolarMax Technology, Inc. (private company): While this company was a major customer in previous periods, NeoVolta has reported that SolarMax Technology, Inc. has significantly reduced its purchases.
NeoVolta's financial filings indicate that a substantial portion of their revenue comes from a concentrated number of customers (e.g., in 2023, two customers accounted for approximately 71% of their net revenue, described as an installer and a distributor). However, the specific names of these current major installer and distributor customers are not publicly disclosed by NeoVolta.
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Ardes Johnson, Chief Executive Officer
Mr. Johnson was appointed CEO in April 2024. He brings extensive experience in the energy sector, having served as Director of Americas Sales and Marketing for Tesla's Energy Products division, where he played a key role in developing Tesla's energy storage solutions and launched the partner channel program for their PowerWall and PowerPack products. Prior to joining NeoVolta, he was the President and General Manager at Meyer Burger Americas.
Steve Bond, Chief Financial Officer & Director
Mr. Bond's background is in executive consulting, specializing in finance, strategy, and revenue growth. He founded and managed his own regional CFO advisory firm for seven years before joining NeoVolta.
Brent Willson, Chairman & CTO
Mr. Willson is the Founder of NeoVolta, which was incorporated in 2018. He is a retired Marine Corps Colonel who previously directed a $100 billion aviation acquisition portfolio for the Defense Department, the Joint Staff, and Congress.
Amany Ibrahim, Chief Operating Officer
Ms. Ibrahim has over a decade of experience in energy storage, construction, and operations. She previously led strategy, product development, and market expansion at Neubau Energy, where she co-founded the company's modular residential battery platform. She transitioned to her current role at NeoVolta following its acquisition of Neubau.
Thomas Enzendorfer, Chief Technology Officer
Mr. Enzendorfer has more than 15 years of leadership experience in solar and battery storage technologies across the U.S. and Europe. He previously served as CEO of Neubau Energy Inc. and Managing Director of Neubau Energy GmbH, where he led the development of next-generation modular battery systems.
AI Analysis | Feedback
The key risks for NeoVolta Inc. (NEOV) include its ongoing financial performance and liquidity, intense competition within the energy storage market, and the challenges posed by a dynamic regulatory and technological landscape.
- Financial Performance and Liquidity: NeoVolta has a history of net losses and faces liquidity challenges, with significant net losses reported for the fiscal years ended June 30, 2024, and 2025. Despite recent revenue growth, operating expenses have increased, contributing to higher net losses. Analysts have also noted concerns about the company's profitability and valuation, suggesting it may be overpriced compared to peers.
- Intense Competition: NeoVolta operates in a highly competitive market against larger, established companies such as Tesla, LG Chem, Sonnen, Enphase Energy, and SunPower, as well as numerous smaller competitors. This intense competition can exert pressure on pricing, market share, and the company's ability to scale efficiently.
- Regulatory and Technological Changes: The energy storage industry is subject to evolving regulations, which can significantly impact product design, installation requirements, and marketability. For instance, California's Net Energy Metering 3 (NEM3) policy reduced solar credits, affecting solar sales and, consequently, demand for energy storage systems. Additionally, the rapid pace of technological advancements in the industry necessitates continuous investment in research and development to maintain a competitive product offering, posing a risk if the company fails to innovate effectively.
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The emergence and widespread commercialization of next-generation battery technologies, such as solid-state or advanced sodium-ion batteries, that offer significantly superior performance characteristics (e.g., higher energy density, lower cost, enhanced safety, or longer lifespan) compared to NeoVolta's current lithium iron phosphate (LiFePO4) systems. Should these alternative technologies mature rapidly and be adopted by competitors in the residential and commercial energy storage market, they could render NeoVolta's existing product offerings less competitive or obsolete.
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Residential Energy Storage Systems
- Globally, the residential energy storage market was valued at approximately USD 18.5 billion in 2025 and is projected to reach USD 68.0 billion by 2035, growing at a compound annual growth rate (CAGR) of 13.9% during that period.
- In the U.S. alone, the home energy storage market is estimated to be worth USD 10.81 billion in 2025 and is expected to grow at a CAGR of about 18.6% through 2035.
Commercial & Industrial (C&I) Energy Storage Solutions
- The global commercial and industrial energy storage market was valued at approximately USD 15 billion in 2023 and is projected to grow to USD 45 billion by 2032, at a CAGR of 12.5%.
- For NeoVolta's 250 kW / 430 kWh commercial platform, specifically, the addressable market in the U.S. is estimated at USD 5.19 billion.
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NeoVolta Inc. (NASDAQ: NEOV) anticipates several key drivers for future revenue growth over the next two to three years:
- Geographic Expansion and Diversified Distribution Channels: NeoVolta expects to continue expanding its presence beyond its traditional Southern California installer network into new geographic markets, including Texas and Puerto Rico, and through broader national distribution channels. This expansion has already been a significant contributor to revenue growth in fiscal year 2026.
- Expansion into Commercial & Industrial (C&I) and Utility-Scale Markets: The company is strategically transforming into an integrated energy solutions platform, aiming to serve residential, C&I, and utility-scale segments. This includes the acquisition of Neubau Energy, which adds the NV Wave/neuClick modular battery platform, and positions NeoVolta to capture a larger addressable market.
- U.S. Manufacturing Joint Venture and New Product Launches: NeoVolta's 60%-owned U.S. battery manufacturing joint venture, NeoVolta Power, LLC, is projected to begin initial production in the second half of fiscal year 2026. This facility, with an initial capacity of 2 GWh scalable to 8 GWh, is expected to enable domestic production for higher-margin utility and C&I markets while qualifying for tax incentives. The launch of the NV Wave/neuClick modular battery systems is also anticipated to drive growth.
- Strategic Collaborations and Partnerships: NeoVolta is leveraging strategic collaborations, such as the proposed partnership with Luminia, which could provide up to 160 MWh of energy storage supply, representing approximately $39 million in potential equipment revenue. Additionally, the joint venture with PotisEdge and LONGi brings manufacturing expertise and supply chain relationships, validating market demand for domestically produced, IRA-compliant battery energy storage solutions (BESS).
- Introduction of Innovative Financing Models: The company plans to introduce new financing models, including Battery-as-a-Service (BaaS) and third-party ownership (TPO) structures. These models aim to offer turnkey bankable solutions, broaden customer accessibility, and create additional revenue streams from development, engineering, procurement, construction (EPC), and operations and maintenance (O&M) services.
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Share Issuance
- NeoVolta completed a public offering in August 2022, raising approximately $3.78 million in net proceeds, which were intended to boost production, marketing, and sales efforts.
- In February 2025, the company raised $1.087 million through a private equity offering.
- Between December 2025 and January 2026, NeoVolta successfully raised approximately $23 million in gross proceeds through two equity financing transactions, comprising a $13 million private placement and a $10 million registered direct offering.
Inbound Investments
- NeoVolta secured a $5 million line of credit in September 2024, with $383,538 borrowed as of June 30, 2025.
- A $13 million private placement, anchored by Infinite Grid Capital (IGC) between December 2025 and January 2026, served as a strategic investment to support NeoVolta's domestic manufacturing initiative and enhance liquidity.
Outbound Investments
- In January 2026, NeoVolta formed NeoVolta Power, LLC, a 60% owned joint venture with U.S. affiliates of PotisEdge and LONGi Green Energy, aimed at establishing a domestic battery energy storage system (BESS) manufacturing facility in Georgia.
- The company completed an initial $7 million capital contribution to the NeoVolta Power, LLC joint venture in January 2026.
- NeoVolta committed to an $8 million second milestone contribution by April 30, 2026, and a $10 million contribution at commissioning via an Asset Purchase Agreement with a JV partner for the Georgia manufacturing facility.
Capital Expenditures
- In February 2025, NeoVolta expanded into a larger facility in Poway, California, to support increased production capabilities.
- The formation and development of the NeoVolta Power, LLC joint venture in Georgia, with an initial planned annual capacity of approximately 2 GWh for battery energy storage systems, represents significant capital expenditure, with mass production targeted for mid-2026.
- NeoVolta's total committed capital contribution to the joint venture for the Georgia facility is structured in three phases, totaling $25 million ($7 million initial, $8 million second milestone, and $10 million at commissioning).
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| NeoVolta Earnings Notes | 12/16/2025 | |
| Can NeoVolta Stock Recover If Markets Fall? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 55.16 |
| Mkt Cap | 5.2 |
| Rev LTM | 2,287 |
| Op Inc LTM | 48 |
| FCF LTM | 111 |
| FCF 3Y Avg | 168 |
| CFO LTM | 143 |
| CFO 3Y Avg | 199 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 20.7% |
| Rev Chg 3Y Avg | 2.4% |
| Rev Chg Q | 28.6% |
| QoQ Delta Rev Chg LTM | 5.3% |
| Op Inc Chg LTM | -28.6% |
| Op Inc Chg 3Y Avg | -33.2% |
| Op Mgn LTM | 1.8% |
| Op Mgn 3Y Avg | -7.0% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 9.5% |
| CFO/Rev 3Y Avg | 4.3% |
| FCF/Rev LTM | 6.6% |
| FCF/Rev 3Y Avg | -3.6% |
Price Behavior
| Market Price | $2.78 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 07/28/2022 | |
| Distance from 52W High | -54.1% | |
| 50 Days | 200 Days | |
| DMA Price | $2.51 | $3.72 |
| DMA Trend | down | down |
| Distance from DMA | 10.8% | -25.2% |
| 3M | 1YR | |
| Volatility | 172.4% | 128.3% |
| Downside Capture | 610.37 | 343.03 |
| Upside Capture | 223.93 | 238.22 |
| Correlation (SPY) | 6.1% | 15.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.93 | 2.54 | 1.83 | 2.61 | 2.01 | 1.46 |
| Up Beta | -10.26 | -0.56 | -0.91 | 1.51 | -0.16 | 1.14 |
| Down Beta | -15.49 | -9.33 | -2.65 | 0.58 | 1.90 | 1.48 |
| Up Capture | 349% | 198% | 349% | 341% | 350% | 305% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 8 | 17 | 29 | 54 | 118 | 356 |
| Down Capture | 1492% | 1238% | 432% | 302% | 203% | 112% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 11 | 21 | 30 | 64 | 122 | 372 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NEOV | |
|---|---|---|---|---|
| NEOV | -9.0% | 128.0% | 0.53 | - |
| Sector ETF (XLI) | 28.7% | 16.2% | 1.38 | 17.0% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 16.8% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | 6.0% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | 1.5% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | -0.9% |
| Bitcoin (BTCUSD) | -40.0% | 42.4% | -1.08 | 22.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NEOV | |
|---|---|---|---|---|
| NEOV | -8.1% | 104.9% | 0.37 | - |
| Sector ETF (XLI) | 13.5% | 17.5% | 0.61 | 15.4% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 15.8% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 0.4% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 3.3% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 5.3% |
| Bitcoin (BTCUSD) | 11.0% | 54.2% | 0.40 | 9.4% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NEOV | |
|---|---|---|---|---|
| NEOV | -4.1% | 104.9% | 0.37 | - |
| Sector ETF (XLI) | 14.2% | 20.0% | 0.62 | 15.4% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 15.8% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 0.4% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 3.3% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 5.3% |
| Bitcoin (BTCUSD) | 60.0% | 66.8% | 1.00 | 9.4% |
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Returns Analyses
Earnings Returns History
Updated 6/17/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/14/2026 | -9.2% | 5.0% | -36.9% |
| 1/23/2026 | 0.0% | -23.3% | -39.0% |
| 10/23/2025 | 4.8% | 3.5% | 12.3% |
| SUMMARY STATS | |||
| # Positive | 2 | 2 | 1 |
| # Negative | 1 | 1 | 2 |
| Median Positive | 2.4% | 4.2% | 12.3% |
| Median Negative | -9.2% | -23.3% | -37.9% |
| Max Positive | 4.8% | 5.0% | 12.3% |
| Max Negative | -9.2% | -23.3% | -39.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/14/2026 | -9.2% | 5.0% | -36.9% |
| 1/23/2026 | 0.0% | -23.3% | -39.0% |
| 10/23/2025 | 4.8% | 3.5% | 12.3% |
| SUMMARY STATS | |||
| # Positive | 2 | 2 | 1 |
| # Negative | 1 | 1 | 2 |
| Median Positive | 2.4% | 4.2% | 12.3% |
| Median Negative | -9.2% | -23.3% | -37.9% |
| Max Positive | 4.8% | 5.0% | 12.3% |
| Max Negative | -9.2% | -23.3% | -39.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/13/2026 | 10-Q |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 09/29/2025 | 10-K |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/07/2025 | 10-Q |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 09/27/2024 | 10-K |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 02/09/2024 | 10-Q |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 09/22/2023 | 10-K |
| 03/31/2023 | 05/12/2023 | 10-Q |
| 12/31/2022 | 02/10/2023 | 10-Q |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 09/27/2022 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/13/2026 | 10-Q |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 09/29/2025 | 10-K |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/07/2025 | 10-Q |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 09/27/2024 | 10-K |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 02/09/2024 | 10-Q |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 09/22/2023 | 10-K |
| 03/31/2023 | 05/12/2023 | 10-Q |
| 12/31/2022 | 02/10/2023 | 10-Q |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 09/27/2022 | 10-K |
Recent Forward Guidance
Updated 6/1/2026Latest: Q3 2026 Earnings Reported 5/14/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Phase 2 Capital Contribution | 8.00 Mil | ||||||
Prior: Q4 2025 Earnings Reported 1/23/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Gross Proceeds | 10.00 Mil | ||||||
Insider Activity
Updated 6/12/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hass, John A | Direct | Buy | 6122026 | 1.92 | 25,000 | 48,000 | 194,285 | Form | |
| 2 | Bond, Steve | Executive Vice President | Direct | Buy | 6022026 | 1.99 | 43,000 | 85,626 | 1,672,692 | Form |
| 3 | Bond, Steve | Executive Vice President | Direct | Buy | 5202026 | 2.09 | 47,000 | 98,131 | 1,664,056 | Form |
| 4 | Willson, Brent | See Footnote 2 | Sell | 10102025 | 0.01 | 500,000 | 5,000 | 35,500 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hass, John A | Direct | Buy | 6122026 | 1.92 | 25,000 | 48,000 | 194,285 | Form | |
| 2 | Bond, Steve | Executive Vice President | Direct | Buy | 6022026 | 1.99 | 43,000 | 85,626 | 1,672,692 | Form |
| 3 | Bond, Steve | Executive Vice President | Direct | Buy | 5202026 | 2.09 | 47,000 | 98,131 | 1,664,056 | Form |
| 4 | Willson, Brent | See Footnote 2 | Sell | 10102025 | 0.01 | 500,000 | 5,000 | 35,500 | Form |
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Electrical Components & Equipment Resources |
| EC&M (Electrical Construction & Maintenance) |
| Electrical Contracting News (ECN) |
| EE Times |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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