Microvast reports Q1 adjusted EPS (4c) vs 6c last year

Reports Q1 revenue $60.6M vs $116.5M last year. “Our first quarter results reflect a period of strategic agility as we navigate evolving geopolitical dynamics and a shifting global landscape. While revenue of $60.6 million was impacted by delivery timing and regional headwinds in APAC, our resilient gross margin of 31.6% underscores the value of our technology and our ability to maintain strong positioning. We are entering a pivotal phase for Microvast (MVST) with the launch of our 290Ah cell-based battery packs that we expect to integrate into the KAF electric powertrain solution and the ongoing ramp-up of our Huzhou Phase 3.2 expansion. By focusing on high-barrier segments and optimizing our production cycles, we remain committed to protecting our margins and accelerating our path to consistent profitability to drive long-term value for our stockholders,” said Yang Wu, Microvast’s Founder, Chairman, and Chief Executive Officer.