Microvast Reports First Quarter 2024 Financial Results
Microvast Holdings, Inc. (MVST)
Company Research
Source: Business Wire
Record company Q1 revenue, increased 73.2% year over year to $81.4 millionGross margin increased from 10.3% to 21.2%, a 10.9 percentage point improvement year over year STAFFORD, Texas--(BUSINESS WIRE)--Microvast Holdings, Inc. (NASDAQ: MVST) (“Microvast” or the “Company”), a technology innovator that designs, develops and manufactures lithium-ion battery solutions, today announced unaudited condensed consolidated financial results for the first quarter ended March 31, 2024 (“Q1 2024”).Results for Q1 2024Revenue of $81.4 million, compared to $47.0 million in Q1 2023, an increase of 73.2%Gross margin increased to 21.2% from gross margin of 10.3% in Q1 2023; Non-GAAP adjusted gross margin increased to 22.6%, up from 13.5% in Q1 2023Operating expenses of $40.9 million, compared to $36.2 million in Q1 2023; Adjusted operating expenses of $30.1 million, compared to $19.8 million in Q1 2023Net loss of $24.8 million, compared to net loss of $29.6 million in Q1 2023; Non-GAAP adjusted net
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MVST
Earnings
- 5/9/24 - Beat
MVST
Sec Filings
- 6/4/24 - Form 8-K
- 5/9/24 - Form 8-K
- 5/9/24 - Form 10-Q
- MVST's page on the SEC website