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Dec 31, 2023
Microvast Q4 2023 Earnings Report
Microvast achieved record quarterly revenue and improved gross margin.
Key Takeaways
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.
Record quarterly revenue of $104.6 million, up 61.4% year over year.
Gross margin increased to 22.0% from 3.4% in Q4 2022.
Net loss decreased to $24.6 million from $33.7 million in Q4 2022.
Adjusted EBITDA improved to negative $2.6 million from negative $11.8 million in Q4 2022.
Microvast
Microvast
Forward Guidance
For Q1 2024, the Company is targeting a revenue growth of 40% to 60% year over year and revenue guidance of $65 million to $75 million. Continued regional efficiencies and utilization increases, providing a Company gross margin target of 20% to 25%.
Positive Outlook
- Targeting a revenue growth of 40% to 60% year over year for Q1 2024
- Revenue guidance of $65 million to $75 million for Q1 2024
- Continued regional efficiencies and utilization increases
- Company gross margin target of 20% to 25%
- Targeting financing solutions to complete Clarksville Phase 1A and bringing in long term domestic customer contracts