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

• Non-GAAP adjusted gross margin increased to 37%, up from 22.6% last year.
• Non-GAAP adjusted operating expenses of $24.9 million, compared to $30.1 million in the first quarter of 2024.
• Non-GAAP adjusted net profit of $19.3 million, compared to non-GAAP adjusted net loss of $13 million in the first quarter of 2024.

“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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