A small manufacturer specializing in energy storage systems for residential and commercial use is experiencing a strong spring, driven by increased demand from distributors and solar installers.
NeoVolta Inc., which produces lithium iron phosphate (LFP) batteries that store excess solar energy for later use, including during grid outages, reported more than $3 million in distributor purchase orders for the current quarter. According to the company, that figure marks the highest quarterly total from the distributor channel in its seven-year history.
“These distributor orders represent a major milestone in our expansion strategy,” said Ardes Johnson, CEO of NeoVolta. “They show that demand for NeoVolta systems is scaling across the country through established installer networks.”
The company said the surge in purchase orders came from three major, unnamed U.S. distributors of solar and energy equipment. NeoVolta attributed the increased activity to rising demand from solar contractors for its battery systems, which are compatible with both AC and DC configurations.
While NeoVolta’s total revenue includes both direct and distributor sales, the growth in distributor orders is seen as a sign of broader adoption. Distributors place larger volume orders once they observe sustained installer demand across multiple regions, the company noted.
NeoVolta said April revenue exceeded $2 million. The company had previously projected unaudited first-quarter revenue of more than $2 million, which it said represented a year-over-year increase of more than 600%.
“Delivering record-breaking revenue in April and immediately following a record-breaking first quarter is a clear signal that our growth trajectory is just beginning,” Johnson said. He added that the company expects continued momentum as it enters new markets and expands its installer base.
NeoVolta said its recent growth is being driven by rising demand for backup power amid grid instability, higher energy costs, and weather-related disruptions. The company pointed to its expanded installer network, particularly in Texas, and stronger distribution partnerships as key contributors to this next phase of growth.
For the fiscal 2025 third quarter ended March 31, revenue totaled $2.01 million, up from $283,900 in the same period in 2024. Net loss for the quarter was $1.44 million, compared with $589,473 a year earlier.
For the first nine months of fiscal 2025, revenue reached $3.65 million, up from $2.06 million in the prior year period. Net loss for the period was $3.38 million, compared with $1.57 million a year ago.
NeoVolta currently has installations in Arizona, Utah, Colorado, Wyoming, Texas, Oklahoma, Missouri, Tennessee, Alabama, Georgia, Florida, and Puerto Rico, according to the company.
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