Microvast Holdings, Inc. (NASDAQ:MVST) released its first-quarter results after Monday's closing bell. Here's a look at the details from the quarter.
The Details: Microvast reported adjusted earnings of six cents per share. Quarterly revenue of $116.5 million beat the Street estimate of $103.75 million and is an increase of 43.2% compared to $81.4 million from the prior year’s quarter.
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For the first quarter, Microvast reported
“Building on our strong momentum from 2024, Microvast delivered exceptional first quarter results, achieving record first quarter revenue of $116.5 million, a significant 43.2% year-over-year increase. This impressive top-line growth is coupled with a substantial expansion in gross margin to 36.9%,” said Yang Wu, Microvast’s CEO.
“For the quarter, we booked a net profit of $61.8 million and a positive adjusted EBITDA of $28.5 million, underscoring the increasing demand for our advanced battery solutions and the effectiveness of our focus on profitability and operational efficiency,” Wu added.
Outlook: Microvast maintained its previous guidance for the remainder of 2025 with target revenue growth of 18% to 25% year-over-year and revenue guidance of $450 million to $475 million.
MVST Price Action: According to data from Benzinga Pro, Microvast stock was up 10.44% at $2.64 after-hours Monday.
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