Microvast Reports Second Quarter 2024 Financial Results
Microvast Holdings, Inc. (MVST)
Company Research
Source: Business Wire
Record company Q2 revenue, increased 11.6% year over year to $83.7 millionGross margin increased from 15.3% to 32.5%, a 17.2 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 second quarter ended June 30, 2024 (“Q2 2024”).Results for Q2 2024Revenue of $83.7 million, compared to $75.0 million in Q2 2023, an increase of 11.6%Gross margin increased to 32.5% from gross margin of 15.3% in Q2 2023; Non-GAAP adjusted gross margin increased to 34.3%, up from 17.3% in Q2 2023Operating expenses of $103.6 million, compared to $39.0 million in Q2 2023; Adjusted operating expenses of $92.9 million, compared to $22.7 million in Q2 2023Net loss of $78.4 million, compared to net loss of $26.1 million in Q2 2023; Non-GAAP adjusted net
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MVST
News
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- Microvast and Minespider to Show Battery Passport Demo at IAA Transportation 2024Business Wire
- Microvast Powers the Next Generation of Electric Commercial Vehicles with Groundbreaking Battery Technology at IAA Transportation 2024 [Yahoo! Finance]Yahoo! Finance
- Microvast Powers the Next Generation of Electric Commercial Vehicles with Groundbreaking Battery Technology at IAA Transportation 2024Business Wire
MVST
Earnings
- 8/9/24 - Miss
MVST
Sec Filings
- 9/6/24 - Form 144
- 8/30/24 - Form DEFA14A
- 8/30/24 - Form ARS
- MVST's page on the SEC website