NeoVolta, Inc.

NEOVOLTA, INC. (NASDAQ: NEOV) INVESTIGATION: Johnson Fistel Investigates Potential Securities Claims

SAN DIEGO, September 28, 2026 — Johnson Fistel, PLLP, a leading stockholder rights law firm, is investigating NeoVolta, Inc. (NASDAQ: NEOV) on behalf of investors who may have suffered losses following the Company’s recent financial disclosures.

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Why Is Johnson Fistel Investigating NeoVolta?

On February 17, 2026, NeoVolta described its residential business as a source of revenue stability. In May, the Company completed a public offering that raised approximately $25 million in gross proceeds. Its offering materials incorporated a quarterly filing showing that three customers accounted for 90% of accounts receivable and that a $1.5 million note to a private solar developer had a net carrying value of approximately $1.41 million.

On September 23, 2026, NeoVolta reported fourth-quarter revenue of $13,460, compared with $4.75 million a year earlier, along with a $3.9 million provision for credit losses and bad-debt expense and a $1.1 million residential inventory reserve. Its annual report also disclosed that the developer note had originally been expected to be monetized through a corporate transaction with the borrower. After the parties’ priorities shifted, NeoVolta recognized a $1.54 million loss on the note as of June 30, 2026. Shares fell approximately 24% on September 24.

Johnson Fistel is investigating whether NeoVolta’s statements and May offering materials adequately disclosed the condition of its residential business and customer receivables, the basis for the note’s carrying value, and when the anticipated transaction with the borrower became unlikely.

About Johnson Fistel, PLLP | Top Law Firm, Securities Fraud, Investor Rights

Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. The firm also represents foreign investors who have purchased securities on U.S. exchanges.

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