Microvast reports Q2 adjusted EPS 5c vs 28c last year

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.