Microvast Holdings Inc (MVST) Q3 2024 Earnings Call Highlights: Record Revenue and ... [Yahoo! Finance]
Microvast Holdings, Inc. (MVST)
Company Research
Source: Yahoo! Finance
Microvast Holdings Inc ( NASDAQ:MVST ) achieved profitability in Q3 2024 with a net profit of $13.2 million and an adjusted EBITDA of $29 million. The company reported a record third-quarter revenue of $101.4 million, marking a 27% year-over-year growth. Gross margin improved significantly to 33.2%, up from 22.3% in Q3 2023, driven by better economies of scale and operational efficiencies. Microvast Holdings Inc ( NASDAQ:MVST ) successfully expanded its commercial vehicle reach in EMEA, with revenue from this region growing by 212% year-over-year. The company is making strides in product innovation, unveiling new silicon-based cell technologies and achieving material progress on its OST battery. Global uncertainty around policy shifts in Europe and the US has impacted the rollout of certain light commercial vehicle platforms. Rapidly growing markets like India and Thailand are prioritizing LP chemistries for affordability, which may affect Microvast Holdings Inc ( NASDAQ:
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MVST
News
- Microvast Holdings, Inc. (NASDAQ: MVST) had its "buy" rating re-affirmed by analysts at HC Wainwright. They now have a $3.00 price target on the stock.MarketBeat
- Microvast Holdings, Inc. Beat Analyst Estimates: See What The Consensus Is Forecasting For Next Year [Yahoo! Finance]Yahoo! Finance
- Microvast Holdings, Inc.'s (NASDAQ:MVST) market cap rose US$199m last week; individual investors who hold 41% profited and so did insiders [Yahoo! Finance]Yahoo! Finance
- Microvast Reports Third Quarter 2024 Financial ResultsBusiness Wire
- Microvast Schedules Third Quarter Earnings CallBusiness Wire
MVST
Earnings
- 11/12/24 - Beat
MVST
Analyst Actions
- 11/18/24 - HC Wainwright
MVST
Sec Filings
- 11/21/24 - Form 4
- 11/21/24 - Form SC
- 11/21/24 - Form 4
- MVST's page on the SEC website