Twin Vee Powercats Inc
Twin Vee Powercats Inc designs and manufactures US-made power catamaran boats (22-40 ft) under Twin Vee, Bahama Boat Works, and STX brands, selling through authorized dealers and direct-to-consumer channels. It also operates the BoatsForSale.com marketplace and a defense-focused subsidiary, serving recreational boaters, charter operators, and government agencies.
- Company typePublic
- Founded1994
- HeadquartersFort Pierce, United States
- Headcount51–100
- GTM typeB2C
- OfferingHardware or Manufacturing
What Twin Vee Powercats Inc does
Twin Vee Powercats Inc (NASDAQ: VEEE) is a US-based designer and manufacturer of power catamaran boats headquartered in a 140,000+ square foot facility in Fort Pierce, Florida, founded in 1994 and currently employing 51-100 people. Its core technology is a proprietary twin-hull (power catamaran) design with vacuum-infused composite construction and a kinetic fluid induction system that uses counter-rotating hydrodynamic vortexes to cushion the ride; key product lines include the premium GFX/GFX2 series (22-40 foot center consoles and dual consoles), the value-oriented STX series, the single-engine 22 BayCat, and the recently relaunched Bahama Boat Works brand.
The business operates a hybrid go-to-market combining direct-to-consumer sales through an online boat configurator and factory tours with a multi-state authorized dealer network (The Boat House, Nautical Ventures, The Boat Yard), supplemented by exclusive territorial dealer arrangements in Florida and Louisiana. Revenue is generated primarily through hardware sales of new boats, with newer revenue streams from the BoatsForSale.com and YachtsForSale.com online marketplace platforms (third-largest US boat marketplace, 42,000+ listings, including an AI-driven natural language search), and from the Black Line Defense subsidiary pursuing crewed and autonomous maritime platforms for US Department of Defense, Department of Homeland Security, and other government agencies. Customers span recreational boaters, charter operators, commercial users, tourism operators (e.g., Exuma Water Sports), and government/defense agencies, with pricing built to order and boat, motor, and trailer packages able to exceed $100,000 for larger configurations.
Financially, the company is small and unprofitable: Q1 2026 revenue of $3.96 million represented the fourth consecutive quarter of positive YoY growth, but FY2025 operating losses of $8.78 million and an accumulated deficit of ~$34 million persist, funded in part by approximately $5.1 million in dilutive public stock offerings in 2025-2026. The company received a Nasdaq delisting notice and executed a 1-for-37 reverse stock split in May 2026 to maintain listing compliance, while continuing strategic moves including the Bahama Boat Works acquisition, marketplace acquisitions, and entry into defense/defense-adjacent markets.
Twin Vee Powercats Inc firmographics
Firmographics- Name
- Twin Vee Powercats Inc
- Legal name
- Twin Vee Powercats, Inc.
- Website
- https://twinvee.com
- Company type
- Public
- Founded year
- 1994
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Twin Vee Powercats Inc designs and manufactures US-made power catamaran boats (22-40 ft) under Twin Vee, Bahama Boat Works, and STX brands, selling through authorized dealers and direct-to-consumer channels. It also operates the BoatsForSale.com marketplace and a defense-focused subsidiary, serving recreational boaters, charter operators, and government agencies.
- Ownership category
- akta.pro rank
Twin Vee Powercats Inc industry classification
Industry- Product category
- Power Catamaran Boats
- NAICS
- Boat Building (336612)
- SIC
- Ship & Boat Building & Repairing (3730)
- akta.pro primary industry
- Catamaran & Multihull Leisure Craft Manufacturing (IMAJAEAC)
- akta.pro secondary industry
- Semi-Custom & Series Production Yacht Manufacturing (IMAJAEAM)
Keywords
Where Twin Vee Powercats Inc is headquartered
LocationHeadquarters
- HQ city
- Fort Pierce
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Twin Vee Powercats Inc business model
Business model- GTM type
- B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- New Boat Sales: Twin Vee designs, manufactures, and sells recreational and commercial power catamaran boats under the Twin Vee and Bahama Boat Works brands. Boats range from 22-foot bay boats to 40-foot offshore center consoles. Sales are generated through authorized dealers and direct factory orders.
- Digital Platform - BoatsForSale.com: Following the acquisition of BoatsForSale.com and YachtsForSale.com, Twin Vee operates an online boat marketplace with over 42,000 listings, targeting the $9 billion pre-owned boat market. The platform competes against Yachtworld and BoatTrader.
- Dealer Network Revenue: Revenue generated from selling boats through authorized dealership network, including exclusive dealer arrangements in key territories.
- Defense/Government Contracts: Through subsidiary Black Line Defense, Twin Vee pursues government contracts for crewed and autonomous maritime platforms for defense and homeland security applications.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Build & Price Custom Orders |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels6 records
Twin Vee Powercats Inc product offering
Product offeringCore offering
Twin Vee PowerCats designs, manufactures, and sells power catamaran (twin-hull) recreational and commercial boats ranging from 22-foot bay boats to 40-foot offshore center consoles under the Twin Vee and Bahama Boat Works brands. The company builds all-composite vacuum-infused hulls with proprietary twin-displacement geometry, and sells through authorized dealers, factory-direct online configurator orders, and an acquired pre-owned boat marketplace platform.
Product overview
Twin Vee Powercats Inc is a manufacturer of power sport boats organized around two primary product lines: the GFX2/GFX premium series and the STX practical value series, both built on the company's signature twin catamaran hull design. The GFX2 line represents the premium offering with integrated extruded aluminum tops, black acrylic dashes, powder coat finishes, and advanced lighting systems, while the STX line provides the same hull and ride quality with simplified systems and materials for families and charter captains seeking value. The 22 BayCat serves the bay boat market with single-engine capability. Beyond new boat manufacturing, Twin Vee has expanded into digital platforms through the acquisition of BoatsForSale.com and YachtsForSale.com, launched defense-focused subsidiary Black Line Defense for autonomous maritime platforms, and acquired the historic Bahama Boat Works brand. The company also announced development of an Adventure Series for the offshore adventure day boat category. All products share Twin Vee's core technology of vacuum-infused twin hull construction for stability, fuel efficiency, and smooth offshore ride characteristics.
Differentiator
Problem solved
Functional benefit
Products and services
- 400 GFX2 Center Console
Quantifiable outcome
- Reduced net loss by 39% in 2025 to $8.6M compared to prior year
- +4 more outcomes
Companies that use Twin Vee Powercats Inc
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles3 records
Twin Vee Powercats Inc technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration10 records
AI capability2 records
Feature5 records
Twin Vee Powercats Inc partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered minor, core, major and strategic.
- Exuma Water SportsminorBahamas-based Exuma Water Sports placed a repeat order for a second custom-built 400 GFX2 power catamaran, following successful deployment of the first vessel in Exuma's premium tourism market. The repeat order validates the 400 GFX2 platform for high-demand commercial applications.
- Nautical Ventures GroupcoreNautical Ventures Group, a subsidiary of Vision Marine Technologies, secured exclusive distribution rights for Twin Vee products in Broward County, Florida. The partnership includes collaboration on two custom 'Adventure Edition' models, with the first being a 34-foot 340 GFX-2 V Edition. Nautical Ventures will distribute through its retail network with initial inventory deliveries within weeks.
- The Boat YardcoreThe Boat Yard, a 10-acre full-service dealership in Marrero, Louisiana, became an authorized Twin Vee dealer. The company received state approval to conduct business in Louisiana and released its initial order which entered production immediately. Louisiana is expected to be a meaningful contributor to future growth.
- The Boat HousemajorThe Boat House is an authorized dealer with 7 locations across the US (3 in Florida: Naples, Port Charlotte, Cape Coral; 3 in Wisconsin: Lake Geneva, Nashotah, Elkhorn; 1 in Illinois: Prairie Grove). Recognized as Top 100 Dealer by Boating Industry for 3 consecutive years.
- OneWater Marine Inc.strategicTwin Vee acquired BoatsForSale.com and YachtsForSale.com from OneWater Marine Inc. The platforms represent the third-largest online boat marketplace in the US with over 42,000 listings, targeting the $9 billion pre-owned boat market.
- U.S. Department of DefensestrategicTwin Vee's subsidiary Black Line Defense registered on the Department of Defense's LYNX Platform to pursue government contracts related to maritime defense. Target agencies include DoD, Department of Homeland Security, and other federal, state, and municipal agencies involved in maritime patrol, interdiction, port security and coastal operations.
Scale indicators10 records
Recent moves10 records
Expansion highlights6 records
Twin Vee Powercats Inc competitors and assessment
Company assessmentDirect peers
- World Cat: World Cat is a leading manufacturer of power catamarans across a range of sizes, directly competing with Twin Vee in the twin-hull center console category. Both companies target the same offshore fishing and family recreational segments with similar hull-form propositions.
- Invincible Boats: Invincible is a premium power catamaran builder (24-46 foot center consoles) that competes head-to-head with Twin Vee's GFX2 line in the high-end offshore fishing segment. Both brands emphasize ride quality in rough seas and target the same charter/serious angler customer.
- Sailfish Boats: Sailfish Boats manufactures offshore center console fishing boats, overlapping with Twin Vee's GFX and STX lines. While Sailfish focuses primarily on monohull V-hulls, it competes for the same dealer shelf space and same customer wallet for 22-28 foot offshore fishing boats.
- Pursuit Boats: Pursuit Boats, a subsidiary of Malibu Boats, builds premium offshore and dual console boats that compete directly with Twin Vee's GFX2 line in the upper-middle of the center console market. Both target serious offshore boaters willing to pay for build quality and ride.
- Regulator Marine: Regulator Marine builds premium offshore center console fishing boats that compete with Twin Vee's GFX2 and 340 GFX models. Both brands emphasize hull engineering, ride quality, and appeal to serious offshore anglers and charter operators.
Broad incumbents
- Boston Whaler: Boston Whaler, owned by Brunswick Corporation, is a broad incumbent in unsinkable center console and dual console boats. While primarily monohull, it competes with Twin Vee across recreational, fishing, and family boating segments and benefits from far greater scale, dealer coverage, and capital resources.
- Grady-White Boats: Grady-White is an established premium center console and cabin boat manufacturer competing in the same offshore fishing and family recreational segments as Twin Vee. As an industry-recognized incumbent, it competes for dealer relationships, customer mind share, and aftermarket services.
- Maverick Boat Group: Maverick Boat Group owns multiple boat brands (Maverick, Cobia, Pathfinder, Hewes) that collectively compete across offshore, bay, and flats boat categories — overlapping with Twin Vee's center console, BayCat, and Adventure Series product lines. Significantly larger scale and capital base than Twin Vee.
- OneWater Marine: OneWater Marine is a large recreational marine retailer and former owner of the BoatsForSale.com and YachtsForSale.com platforms that Twin Vee acquired in 2025. As a major boat dealer and platform operator, it is both a commercial counterparty and a strategic comparator for Twin Vee's marketplace business model.
- Beneteau Group: Beneteau Group is a large global boat manufacturer whose Four Winns, Wellcraft, and Scarab brands compete with Twin Vee in the center console and bowrider segments. The group has far greater international manufacturing scale and capital resources, representing the global incumbent benchmark for recreational boat building.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Twin Vee Powercats Inc social profiles
Digital presenceTwin Vee Powercats Inc financial estimates
Financial estimateRevenue estimate
Valuation estimate
Twin Vee Powercats Inc leadership team
Management profileNumber of profiles
Profiles8 records
Twin Vee Powercats Inc subsidiaries and ownership
Company hierarchySubsidiaries4 records
Twin Vee Powercats Inc funding detail
Funding detailFunding overview
Funding rounds4 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Twin Vee Powercats Inc M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Twin Vee Powercats Inc
What does Twin Vee Powercats Inc do?
Twin Vee PowerCats designs, manufactures, and sells power catamaran (twin-hull) recreational and commercial boats ranging from 22-foot bay boats to 40-foot offshore center consoles under the Twin Vee and Bahama Boat Works brands. The company builds all-composite vacuum-infused hulls with proprietary twin-displacement geometry, and sells through authorized dealers, factory-direct online configurator orders, and an acquired pre-owned boat marketplace platform.
Is Twin Vee Powercats Inc a public or private company?
Twin Vee Powercats Inc is a public company. It is classified as public and is currently operating.
When was Twin Vee Powercats Inc founded?
Twin Vee Powercats Inc was founded in 1994. It employs 51 to 100 people.
Where is Twin Vee Powercats Inc based?
Twin Vee Powercats Inc is headquartered in Fort Pierce, United States, in the North America region.
How does Twin Vee Powercats Inc make money?
Four revenue lines are on record. New Boat Sales are the primary driver. The others are digital Platform - BoatsForSale.com, dealer Network Revenue and defense/Government Contracts.
Who are Twin Vee Powercats Inc's main competitors?
Direct peers on record are World Cat, Invincible Boats, Sailfish Boats, Pursuit Boats and Regulator Marine. Broad incumbents are Boston Whaler, Grady-White Boats, Maverick Boat Group, OneWater Marine and Beneteau Group.
Does Twin Vee Powercats Inc have an API?
No public API is recorded for Twin Vee Powercats Inc.
What industry is Twin Vee Powercats Inc in?
Twin Vee Powercats Inc's product category is Power Catamaran Boats. Its primary akta.pro industry code is IMAJAEAC, Catamaran & Multihull Leisure Craft Manufacturing, with a secondary code of IMAJAEAM, Semi-Custom & Series Production Yacht Manufacturing. Its NAICS code is 336612 and its SIC code is 3730.