Reports Q2 revenue $91.3M, consensus $106.78M. “Continuing to build upon our momentum, Microvast (MVST) is charting an exceptional course. We delivered a record second quarter, with revenue reaching $91.3 million, marking a 9.2% year-over-year increase. This growth is matched with gross margin expansion to 34.7%. While we booked a GAAP net loss of $106.1 million, we also achieved a positive adjusted EBITDA of $25.9 million. These results are a testament to the increasing demand for our advanced battery solutions and the effectiveness of our relentless focus on profitability and operational efficiency,” said Yang Wu, Microvast’s Founder, Chairman, and Chief Executive Officer.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MVST:
- Microvast Holdings options imply 20.3% move in share price post-earnings
- Microvast Holdings Appoints Rodney Worthen as Interim CFO
- Microvast Holdings options imply 14.9% move in share price post-earnings
- Microvast Holdings CFO Carl Schultz Steps Down
- Microvast short report from Grizzly cites ‘ties to Chinese Communist Party’