Shares of Microvast Holdings, Inc. (MVST) surged 9.24% in after-hours trading on Monday following the release of its third-quarter 2025 financial results. The company, which specializes in battery technology for electric vehicles and energy storage systems, reported robust revenue growth and positive adjusted EBITDA, surpassing market expectations.

Microvast's Q3 revenue reached $123.3 million, marking a significant 21.6% increase compared to the same period last year. This figure beat analyst estimates of $120.018 million. The company also reported a positive adjusted EBITDA of $21.9 million, showcasing improved operational efficiency. Despite a slight miss on adjusted earnings per share, which came in at $0.04 compared to the expected $0.05, investors appeared to focus on the strong top-line growth and positive EBITDA.

Adding to the optimistic outlook, Microvast maintained its full-year 2025 revenue growth target of 18% to 25%, projecting annual revenue between $450 million and $475 million. The company also updated its gross margin outlook to a range of 32% to 35%. These factors, combined with ongoing expansion efforts such as the Huzhou Phase 3.2 production capacity increase, seem to have bolstered investor confidence in Microvast's growth trajectory, driving the after-hours stock price surge.