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Mar 31
Microvast Q1 2025 Earnings Report
Reported First Quarter 2025 Financial Results
Key Takeaways
Microvast reported record first quarter revenue of $116.5 million, a 43.2% increase year-over-year. The company achieved a net profit of $61.8 million and positive adjusted EBITDA of $28.5 million, demonstrating strong top-line growth and improved profitability.
Achieved record Q1 2025 revenue of $116.5 million, up 43.2% year-over-year.
Gross margin significantly improved to 36.9% in Q1 2025 from 21.2% in Q1 2024.
Reported a net profit of $61.8 million in Q1 2025, a substantial improvement from a net loss of $24.8 million in Q1 2024.
Achieved positive non-GAAP adjusted EBITDA of $28.5 million in Q1 2025 compared to a negative $3.7 million in Q1 2024.
Microvast
Microvast
Forward Guidance
For the remainder of 2025, the Company maintains its target revenue growth of 18% to 25% year over year and revenue guidance of $450 million to $475 million, targeting a gross margin of 30%.
Positive Outlook
- Targeting revenue growth of 18% to 25% year over year for the remainder of 2025.
- Maintaining revenue guidance of $450 million to $475 million for 2025.
- Targeting a gross margin of 30% through 2025.
- Installation of production equipment for Huzhou Phase 3.2 to increase capacity.
- Sustained focus on new customer wins in differentiated commercial vehicle markets.