Microvast Holdings, Inc. ( (MVST) ) has released its Q1 earnings. Here is a breakdown of the information Microvast Holdings, Inc. presented to its investors.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Microvast Holdings, Inc. is a global leader in advanced battery technologies, specializing in electric vehicle and energy storage solutions, with a strong focus on innovation and sustainability. The company recently reported its financial results for the first quarter of 2025, showcasing significant growth and profitability improvements.
In the first quarter of 2025, Microvast achieved a record revenue of $116.5 million, marking a 43.2% increase compared to the same period in the previous year. The company’s gross margin also saw a substantial improvement, rising from 21.2% to 36.9%. These financial gains were accompanied by a net profit of $61.8 million, a notable turnaround from a net loss of $24.8 million in Q1 2024.
Key financial metrics highlighted in the report include a positive adjusted EBITDA of $28.5 million, contrasting with a negative $3.7 million in the prior year. Operating expenses were reduced to $25.5 million from $40.9 million, and capital expenditures decreased to $6.6 million from $10.2 million. Additionally, the company’s cash and short-term investments increased to $123.0 million by the end of the quarter.
Looking ahead, Microvast maintains its revenue growth target of 18% to 25% for the remainder of 2025, with projected revenues between $450 million and $475 million. The company is also focused on expanding its production capacity and securing new customers in the commercial vehicle market as electrification continues to advance.