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Side-by-side financial comparison of Northann Corp. (NCL) and NeoVolta Inc. (NEOV). Click either name above to swap in a different company.
NeoVolta Inc. is the larger business by last-quarter revenue ($4.6M vs $3.5M, roughly 1.3× Northann Corp.). NeoVolta Inc. runs the higher net margin — -119.2% vs -248.2%, a 129.0% gap on every dollar of revenue. On growth, NeoVolta Inc. posted the faster year-over-year revenue change (333.5% vs 38.6%). Over the past eight quarters, NeoVolta Inc.'s revenue compounded faster (304.5% CAGR vs 28.1%).
Northann Corp is a home furnishing enterprise specializing in the design, production and sales of home textile products, decorative accessories and related household goods. Its core markets cover North America, Western Europe and China, targeting mid-to-high end household consumer segments.
NeoVolta Inc. designs, manufactures and distributes intelligent lithium iron phosphate energy storage systems for residential and commercial use. Its products combine battery packs, inverters and smart management software to store solar power, cut grid dependence and offer outage backup, with core business focused on the North American market.
NCL vs NEOV — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.5M | $4.6M |
| Net Profit | $-8.8M | $-5.5M |
| Gross Margin | -40.6% | 16.6% |
| Operating Margin | -246.9% | -96.4% |
| Net Margin | -248.2% | -119.2% |
| Revenue YoY | 38.6% | 333.5% |
| Net Profit YoY | -1872.0% | -470.3% |
| EPS (diluted) | $-0.07 | $-0.16 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $4.6M | ||
| Q3 25 | $3.5M | $6.7M | ||
| Q2 25 | $1.7M | $4.8M | ||
| Q1 25 | $3.4M | $2.0M | ||
| Q4 24 | $4.3M | $1.1M | ||
| Q3 24 | $2.6M | $590.2K | ||
| Q2 24 | $3.9M | $579.2K | ||
| Q1 24 | $4.6M | $283.9K |
| Q4 25 | — | $-5.5M | ||
| Q3 25 | $-8.8M | $-1.2M | ||
| Q2 25 | $-2.3M | $-1.6M | ||
| Q1 25 | $-2.6M | $-1.4M | ||
| Q4 24 | $-3.9M | $-971.1K | ||
| Q3 24 | $496.6K | $-964.5K | ||
| Q2 24 | $-997.5K | — | ||
| Q1 24 | $60.0K | $-589.5K |
| Q4 25 | — | 16.6% | ||
| Q3 25 | -40.6% | 23.7% | ||
| Q2 25 | -53.6% | 12.1% | ||
| Q1 25 | 11.4% | 25.5% | ||
| Q4 24 | -2.2% | 30.2% | ||
| Q3 24 | 63.7% | 15.7% | ||
| Q2 24 | 23.2% | 3.0% | ||
| Q1 24 | 33.6% | 58.5% |
| Q4 25 | — | -96.4% | ||
| Q3 25 | -246.9% | -12.8% | ||
| Q2 25 | -128.6% | -30.2% | ||
| Q1 25 | -74.9% | -68.1% | ||
| Q4 24 | -32.2% | -88.4% | ||
| Q3 24 | 21.6% | -163.6% | ||
| Q2 24 | -30.0% | — | ||
| Q1 24 | 7.1% | -211.5% |
| Q4 25 | — | -119.2% | ||
| Q3 25 | -248.2% | -18.7% | ||
| Q2 25 | -132.5% | -34.7% | ||
| Q1 25 | -76.5% | -72.0% | ||
| Q4 24 | -91.4% | -90.6% | ||
| Q3 24 | 19.4% | -163.4% | ||
| Q2 24 | -25.6% | — | ||
| Q1 24 | 1.3% | -207.6% |
| Q4 25 | — | $-0.16 | ||
| Q3 25 | $-0.07 | $-0.04 | ||
| Q2 25 | $-0.02 | $-0.05 | ||
| Q1 25 | $-0.03 | $-0.04 | ||
| Q4 24 | $-0.16 | $-0.03 | ||
| Q3 24 | $0.02 | $-0.03 | ||
| Q2 24 | $-0.04 | — | ||
| Q1 24 | $0.01 | $-0.02 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $40.9K | $242.4K |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.8M | $5.0M |
| Total Assets | $15.0M | $10.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $242.4K | ||
| Q3 25 | $40.9K | $889.8K | ||
| Q2 25 | $1.1M | $794.8K | ||
| Q1 25 | — | $536.0K | ||
| Q4 24 | $245.2K | $328.7K | ||
| Q3 24 | — | $393.4K | ||
| Q2 24 | — | $986.4K | ||
| Q1 24 | — | $1.0M |
| Q4 25 | — | $5.0M | ||
| Q3 25 | $1.8M | $2.1M | ||
| Q2 25 | $4.4M | $2.9M | ||
| Q1 25 | $3.9M | $3.8M | ||
| Q4 24 | $2.6M | $3.3M | ||
| Q3 24 | $1.4M | $3.9M | ||
| Q2 24 | $969.0K | $4.6M | ||
| Q1 24 | $712.3K | $5.1M |
| Q4 25 | — | $10.1M | ||
| Q3 25 | $15.0M | $8.4M | ||
| Q2 25 | $16.5M | $6.8M | ||
| Q1 25 | $16.5M | $5.7M | ||
| Q4 24 | $13.9M | $4.0M | ||
| Q3 24 | $14.6M | $4.2M | ||
| Q2 24 | $13.1M | $4.7M | ||
| Q1 24 | $13.2M | $5.2M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-15.6K | $-2.1M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-2.1M | ||
| Q3 25 | $-15.6K | $-2.5M | ||
| Q2 25 | $-2.8M | $-924.2K | ||
| Q1 25 | $-1.0M | $-2.1M | ||
| Q4 24 | $-1.6M | $-858.3K | ||
| Q3 24 | $169.7K | $-593.0K | ||
| Q2 24 | $-122.2K | $-1.0M | ||
| Q1 24 | $297.9K | $-485.3K |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.34× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 4.96× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
