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 Reports Third Quarter 2024 Financial ResultsBusiness Wire
- Microvast Schedules Third Quarter Earnings CallBusiness Wire
- Microvast Powers the Next Generation of Electric Commercial Vehicles with Groundbreaking Battery Technology at IAA Transportation 2024PR Newswire
- Microvast and Minespider to Show Battery Passport Demo at IAA Transportation 2024 [Yahoo! Finance]Yahoo! Finance
- Microvast and Minespider to Show Battery Passport Demo at IAA Transportation 2024Business Wire
MVST
Earnings
- 11/12/24 - Beat
MVST
Sec Filings
- 11/12/24 - Form 10-Q
- 10/31/24 - Form 3
- 10/23/24 - Form 8-K
- MVST's page on the SEC website