Microvast Earnings Reports

In Q4 2024, Microvast achieved record quarterly revenue of $113.4 million, marking an 8.4% year-over-year increase. The company significantly improved its gross margin to 36.6% and reduced its non-GAAP adjusted net loss to $0.6 million. While GAAP net loss stood at $82.3 million, operational efficiency gains and restructuring helped generate positive cash from operations.

Microvast reported a strong Q3 2024 with record revenue, a significant increase in gross margin, and a shift to net profit compared to the previous year. The company also saw improvements in operating expenses and adjusted EBITDA.

Microvast reported a record Q2 revenue of $83.7 million, an 11.6% increase year-over-year. The gross margin improved significantly from 15.3% to 32.5%. However, the company experienced a net loss of $78.4 million, compared to a net loss of $26.1 million in Q2 2023.

Microvast reported a strong first quarter with a 73.2% increase in revenue year-over-year, reaching $81.4 million. The gross margin improved significantly from 10.3% to 21.2%. Net loss decreased to $24.8 million, and adjusted EBITDA improved to negative $3.7 million.

Microvast reported record quarterly revenue of $104.6 million, a 61.4% increase year-over-year. The company's gross margin increased to 22.0% from 3.4% in Q4 2022. Net loss was $24.6 million, compared to a net loss of $33.7 million in Q4 2022.

Microvast reported a strong third quarter with a 107.5% increase in revenue year-over-year, reaching $80.1 million. The company also achieved a record backlog of $678.7 million, up 382.7% year-over-year, and improved gross margin to 22.3%.

Microvast reported a 16.4% increase in revenue to $75.0 million, exceeding guidance, and achieved a record backlog of $675.9 million, up 541.9% year-over-year. Gross margin improved from 7.5% to 15.3%. The company is focused on ramping up production in its Huzhou, China facility and commencing trial production in its Clarksville, Tennessee facility in Q4.

Microvast reported a slight decrease in revenue but an increase in gross profit for Q4 2022. The company's backlog reached a record high, positioning it for future growth. They expect to achieve profitability within the next two to three years.

Microvast reported a 4.7% increase in revenue compared to Q3 2021, reaching $38.6 million. The company also significantly improved its gross margin, moving from a negative 97.3% to a positive 5.2%.

Microvast reported a strong second quarter with a 93% increase in revenue compared to the previous year, driven by higher sales volumes. The company also saw a significant improvement in gross margin, although operating expenses increased due to share-based compensation and growth initiatives. Microvast reaffirms its revenue guidance for the year.

Microvast reported a significant increase in revenue, exceeding expectations with a 145.5% increase compared to Q1 2021. The company is focused on sales growth, expanding its order book, and executing capacity expansion plans.

Microvast reported a 39% increase in revenue for Q4 2021 compared to Q4 2020, but experienced a net loss due to increased operating expenses and a reduction in gross profit. The company's backlog grew significantly, and it ended the year with a strong cash position.

Microvast reported a 20% increase in revenue for Q3 2021 compared to Q3 2020, driven by increased sales of battery products. However, the company experienced a significant net loss due to a one-time product warranty accrual, inventory write-down, increased raw material prices, and share-based compensation expenses. The company ended Q3 2021 with $612.5 million in cash, cash equivalents, and restricted cash.