Microvast Reports Third Quarter 2024 Financial Results
Microvast Holdings, Inc. (MVST)
Company Research
Source: Business Wire
Record company Q3 revenue, increased 26.6% year over year to $101.4 millionGross margin increased from 22.3% to 33.2%, 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 third quarter ended September 30, 2024 (“Q3 2024”).Results for Q3 2024Revenue of $101.4 million, compared to $80.1 million in Q3 2023, an increase of 26.6%Gross margin increased to 33.2% from gross margin of 22.3% in Q3 2023; Non-GAAP adjusted gross margin increased to 33.9%, up from 24.2% in Q3 2023Operating expenses of $27.5 million, compared to $44.7 million in Q3 2023; Adjusted operating expenses of $22.0 million, compared to $30.3 million in Q3 2023Net profit of $13.2 million, compared to net loss of $26.2 million in Q3 2023; Non-GAAP adjus
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MVST
News
- Microvast Holdings Inc (MVST) Q3 2024 Earnings Call Highlights: Record Revenue and ... [Yahoo! Finance]Yahoo! Finance
- 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