Microvast Holdings, Inc. (NASDAQ: MVST), a global leader in advanced battery technologies, saw its stock surge 12.97% in pre-market trading on Tuesday following the release of its impressive first-quarter 2025 financial results. The company reported record Q1 revenue and a significant turnaround in profitability, while maintaining a positive outlook for the remainder of the year.

For the first quarter of 2025, Microvast reported record revenue of $116.5 million, marking a substantial 43.2% increase compared to the same period last year. The company's bottom line showed remarkable improvement, with a net profit of $61.8 million, a dramatic turnaround from a net loss of $24.8 million in Q1 2024. Earnings per share came in at $0.19, compared to a loss of $0.08 per share in the prior year's quarter.

Microvast's profitability metrics saw considerable enhancement, with gross margin expanding from 21.2% to 36.9% year-over-year. The company's adjusted EBITDA turned positive at $28.5 million, contrasting with a negative $3.7 million in Q1 2024. Adding to investor optimism, Microvast maintained its previous guidance for the remainder of 2025, targeting revenue growth of 18% to 25% year-over-year and revenue between $450 million and $475 million. The company also aims to achieve a gross margin of 30% for the year, supported by regional efficiencies and increased utilization.