Shares of Microvast Holdings, Inc. (NASDAQ: MVST) tumbled 5.6% in after-hours trading on Monday following the release of the company's third quarter 2025 financial results. The electric vehicle battery maker reported mixed results, with strong revenue growth offset by a surprise loss.

Microvast posted Q3 revenue of $123.3 million, up 21.6% year-over-year and ahead of analyst estimates. However, the company swung to a net loss of $1.5 million, compared to a profit of $13.2 million in the same quarter last year. Adjusted earnings per share came in at $0.04, missing the consensus estimate of $0.05.

Despite the earnings miss, Microvast highlighted its improved gross margin, which expanded to 37.6% from 33.2% a year ago. The company also maintained its full-year 2025 revenue growth target of 18% to 25%. However, investors appeared focused on the bottom-line disappointment, sending shares lower after the closing bell.