Financial Data and Key Metrics Changes - The company reported record first quarter revenue of $116.5 million, representing a 43% year-over-year growth from $81.4 million in Q1 2024 [21] - Gross profit for Q1 2025 was $43 million, up from $17.2 million in Q1 2024, marking a 150% improvement [21] - The gross margin improved to 36.9%, an increase of 15.7 percentage points from 21.2% in Q1 2024 [21] - The company achieved a net profit of $61.8 million in Q1 2025, compared to a net loss of $24.8 million in Q1 2024 [22] - Adjusted net profit was $19.3 million, a significant improvement from an adjusted net loss of $13 million in Q1 2024 [22] - Adjusted EBITDA reached $28.5 million, compared to a negative adjusted EBITDA of $3.7 million in Q1 2024 [23] Business Line Data and Key Metrics Changes - The EMEA region saw a remarkable growth of 108% year-over-year, accounting for 52% of quarterly revenue, up from 36% a year ago [23] - The US market share increased from 2% to 5% of revenue compared to Q1 2024, indicating progress with domestic commercial vehicle customers [23] - The APAC region experienced a slight decrease of less than 1% year-over-year as the company targets higher margin opportunities [23] Company Strategy and Development Direction - The company is focused on continuous innovation and expanding revenue streams through a diverse portfolio of products [11] - A key element of the strategy is to capture greater market share, supported by ongoing investments in commercialization of current and future products [11] - The company is on track with its Phase 3.2 expansion project, which will add up to 2 gigawatt hours of annual production capacity [12] Management's Comments on Operating Environment and Future Outlook - Management acknowledged headwinds from global supply chain uncertainties and trade disruptions affecting rollout timelines for certain vehicle platforms [14] - The company anticipates a year-over-year revenue increase of 18% to 25% for 2025, targeting a revenue range between $450 million and $475 million [27] - The focus remains on achieving positive cash flow, sustaining strong gross margins, and expanding market reach through innovation and strategic collaborations [29] Other Important Information - The company has made significant advancements in next-generation battery technologies, including proprietary 3D printing capabilities for all solid-state batteries [17] - Early results from bipolar stack cell architecture show promise for enhanced performance, with a current efficiency of 99.89% [18] Q&A Session Summary - No specific questions or answers were provided in the content regarding the Q&A session.

Financial Data and Key Metrics Changes - The company reported record first quarter revenue of $116.5 million, representing a 43% year-over-year growth from $81.4 million in Q1 2024 [21] - Gross profit for Q1 2025 was $43 million, up from $17.2 million in Q1 2024, marking a 150% improvement [21] - The gross margin improved to 36.9%, a 15.7 percentage point increase from 21.2% in Q1 2024 [21] - The company achieved a net profit of $61.8 million in Q1 2025, compared to a net loss of $24.8 million in Q1 2024 [22] - Adjusted net profit was $19.3 million, a significant improvement from an adjusted net loss of $13 million in Q1 2024 [22] - Adjusted EBITDA reached $28.5 million, compared to a negative adjusted EBITDA of $3.7 million in Q1 2024 [23] Business Line Data and Key Metrics Changes - The EMEA region saw triple-digit growth of 108% year-over-year, accounting for 52% of quarterly revenue, up from 36% a year ago [21][23] - The US revenue share increased from 2% to 5% compared to Q1 2024, indicating growth in domestic commercial vehicle customers [23] - The APAC region experienced a slight decrease of less than 1% year-over-year as the company targets higher margin opportunities [23] Company Strategy and Development Direction - The company is focused on continuous innovation and expanding its revenue streams through a diverse portfolio of products [12] - A key element of the strategy involves capturing greater market share through ongoing investments in commercialization of current and future products [12] - The company is on track with its Phase 3.2 expansion project, which will add up to 2 gigawatt hours of annual production capacity [13] Management's Comments on Operating Environment and Future Outlook - Management acknowledged headwinds from global supply chain uncertainties and trade disruptions affecting rollout timelines for certain vehicle platforms [15] - The company anticipates a year-over-year revenue increase of 18% to 25% for 2025, targeting a range between $450 million and $475 million [28] - The focus remains on achieving positive cash flow, sustaining strong gross margins, and expanding market reach through innovation and strategic collaborations [30] Other Important Information - The company has made significant advancements in next-generation battery technologies, including proprietary 3D printing capabilities for all solid-state batteries [18] - The company is actively engaged in further validation and long-term testing of its bipolar stack cell architecture, which shows promise for enhanced performance [19] Q&A Session Summary - No specific questions or answers were provided in the content regarding the Q&A session.

Core Viewpoint - Microvast Holdings, Inc. reported record financial results for Q1 2025, showcasing significant revenue growth and improved profitability metrics, driven by increasing demand for advanced battery solutions [2][8]. Financial Performance - Q1 2025 revenue reached $116.5 million, marking a 43.2% increase from $81.4 million in Q1 2024 [8][26]. - Gross margin improved to 36.9%, up from 21.2% year over year, reflecting a 15.7 percentage point increase [7][8]. - The company achieved a net profit of $61.8 million, compared to a net loss of $24.8 million in Q1 2024 [8][27]. - Adjusted EBITDA for Q1 2025 was positive at $28.5 million, a significant turnaround from a negative $3.7 million in Q1 2024 [8][36]. Cost Management - Operating expenses decreased to $25.5 million from $40.9 million in Q1 2024, indicating effective cost control measures [8][27]. - Non-GAAP adjusted operating expenses were $24.9 million, down from $30.1 million in the same period last year [8][32]. Cash Position - As of March 31, 2025, the company had cash, cash equivalents, restricted cash, and short-term investments totaling $123.0 million, an increase from $109.6 million at the end of 2024 [8][28]. 2025 Outlook - The company targets revenue growth of 18% to 25% year over year, with revenue guidance set between $450 million and $475 million for the year [9]. - A gross margin target of 30% is set for the remainder of 2025, supported by regional efficiencies and increased utilization [9].

Financial Performance - For the three months ended March 31, 2025, revenue increased by $35.1 million to $116.5 million, representing a 43.2% year-over-year growth[143]. - Revenue from Europe increased to $60.1 million, accounting for 52% of total revenue for the three months ended March 31, 2025, compared to 36% in the same period of 2024[161]. - Revenues increased from approximately $81.4 million in Q1 2024 to approximately $116.5 million in Q1 2025, driven by a sales volume increase from approximately 353.3 MWh to approximately 535.7 MWh[173]. - Gross profit rose to $43.0 million in Q1 2025, a 149.7% increase compared to $17.2 million in Q1 2024, with gross margin improving from 21.2% to 36.9%[172][175]. - The company generated an operating profit of $18.9 million and operating cash flow of $7.2 million in Q1 2025, with an order backlog of $350.5 million expected to be fulfilled in 2025 and 2026[189]. - The company generated $7.2 million in net cash from operating activities for the three months ended March 31, 2025, compared to $2.0 million in the same period of 2024, reflecting improved profitability[198][200]. Operational Highlights - The order backlog stood at $350.5 million, with the majority expected to be fulfilled in 2025 and 2026[143]. - As of March 31, 2025, the company had a backlog of approximately $350.5 million for electric vehicle battery systems, equivalent to about 1,606.5 MWh[152]. - The company introduced the Mega Energizer 6 MWh ESS container featuring LFP battery technology, which offers a cycle life exceeding 10,000 cycles and a lifespan of up to 30 years[141]. - The company has made significant investments in capacity expansion in Huzhou, China, completing a 2 GWh cell, module, and tray capacity expansion for the 53.5Ah cell technology[153]. - The company expanded its R&D footprint in Orlando by purchasing a 75,000 square foot facility dedicated to R&D, with plans for further expansion[150]. Cost Management - General and administrative expenses decreased by $13.3 million or 56.1% in Q1 2025 compared to Q1 2024, primarily due to reduced share-based compensation expenses[177]. - Research and development expenses decreased by $3.2 million or 28.2% in Q1 2025 compared to Q1 2024, attributed to reduced share-based compensation and headcount[178]. - The company recorded a gain of $43.2 million from changes in the fair value of the convertible loan in Q1 2025, significantly impacting overall profitability[179]. Liquidity and Financing - As of March 31, 2025, the company had a cash position of $123.0 million, including $64.4 million in cash and cash equivalents[180]. - The company secured a $28.2 million bank loan in Q1 2025 to enhance liquidity, with additional funds received in April and May 2025[185]. - The company is actively pursuing the sale of non-core U.S. real estate assets to enhance liquidity without affecting core operations[186]. - Cash used in investing activities for the three months ended March 31, 2025, totaled $2.3 million, primarily for capital expenditures related to manufacturing facility expansion[201]. - Cash generated from financing activities amounted to $9.5 million during the three months ended March 31, 2025, driven by $28.2 million in bank borrowings[202]. Strategic Focus - The company is focused on reducing reliance on overseas suppliers to strengthen national energy independence and drive long-term revenue growth[136]. - The company plans to pivot production from NMC to 565Ah lithium iron phosphate (LFP) batteries due to funding constraints impacting the Clarksville, Tennessee facility[140]. - The company is seeking alternative sources of capital to support its U.S. operations and complete the Tennessee facility expansion[193]. - The company may need to seek additional equity or debt financing to meet future capital requirements, which could adversely affect its business if not secured[194]. Risk Management - The company has a dedicated credit management team to mitigate credit risk, with a hypothetical 100-basis-point increase in expected loss rates potentially increasing the allowance for credit losses by approximately $0.7 million[209][210]. - An immediate 10% adverse change in foreign exchange rates on RMB-denominated accounts would result in a foreign currency loss of $14.2 million[207]. - The company has $62.1 million in non-cancelable purchase commitments as of March 31, 2025, most of which are short-term[196]. Seasonal Trends - The company has historically experienced higher sales during the third and fourth fiscal quarters compared to the first and second quarters, although the exact nature of seasonality remains uncertain[211].

Financial Performance - Record Q1 2025 revenue of $116.5 million, a 43.2% increase year over year from $81.4 million in Q1 2024[2][6] - Net profit of $61.8 million in Q1 2025, compared to a net loss of $24.8 million in Q1 2024; Non-GAAP adjusted net profit of $19.3 million versus a non-GAAP adjusted net loss of $13.0 million[6] - Revenues for Q1 2025 increased to $116,491,000, a 43.2% rise from $81,351,000 in Q1 2024[26] - Net profit for Q1 2025 was $61,790,000, a significant turnaround from a net loss of $24,825,000 in Q1 2024[26] - Basic net profit per share for Q1 2025 was $0.19, compared to a loss of $0.08 per share in Q1 2024[34] - For the three months ended March 31, 2025, Microvast Holdings, Inc. reported a net profit of $61.79 million, compared to a net loss of $24.83 million in the same period of 2024[35] Profitability Metrics - Gross margin improved to 36.9%, up 15.7 percentage points from 21.2% in Q1 2024; Non-GAAP adjusted gross margin increased to 37.0% from 22.6%[5][6] - Gross profit for Q1 2025 was $43,016,000, resulting in a gross margin of 36.9%, compared to a gross profit of $17,225,000 and a margin of 21.2% in Q1 2024[31] - Non-GAAP adjusted EBITDA of $28.5 million in Q1 2025, compared to a negative $3.7 million in Q1 2024[6] - The company's EBITDA for Q1 2025 was $70.98 million, a significant improvement from a negative EBITDA of $15.55 million in Q1 2024[35] - Adjusted EBITDA for the same period was $28.52 million, compared to an adjusted EBITDA loss of $3.72 million in Q1 2024[35] Operating Expenses - Operating expenses decreased to $25.5 million from $40.9 million in Q1 2024; Non-GAAP adjusted operating expenses reduced to $24.9 million from $30.1 million[6] - Operating expenses for Q1 2025 were $25,500,000, significantly lower than $40,877,000 in Q1 2024[32] - Interest expense decreased to $1.01 million in Q1 2025 from $1.61 million in Q1 2024[35] - Non-cash settled share-based compensation decreased significantly to $0.70 million in Q1 2025 from $11.87 million in Q1 2024[35] Cash and Assets - Cash, cash equivalents, restricted cash, and short-term investments totaled $123.0 million as of March 31, 2025, up from $109.6 million as of December 31, 2024[6] - Total current assets increased to $447,992,000 as of March 31, 2025, up from $428,026,000 at the end of 2024[25] - Cash and cash equivalents at the end of Q1 2025 were $90,898,000, an increase from $73,007,000 at the end of 2024[25] - Total liabilities decreased to $528,697,000 as of March 31, 2025, down from $563,972,000 at the end of 2024[25] Future Outlook - For 2025, the company targets revenue growth of 18% to 25% year over year, with revenue guidance of $450 million to $475 million[12] - The company aims for a gross margin of 30% through 2025, supported by regional efficiencies and increased utilization[12] - Production capacity will be enhanced with the installation of equipment for Huzhou Phase 3.2, targeting first qualified products in Q4 2025[12] - Continued focus on acquiring new customers to expand presence in differentiated commercial vehicle markets as electrification progresses[12] Other Financial Changes - The changes in fair value of warrant liability and convertible loan resulted in a loss of $43.16 million in Q1 2025, compared to a negligible loss of $42,000 in Q1 2024[35] - Depreciation and amortization increased slightly to $8.18 million in Q1 2025 from $7.66 million in Q1 2024[35]

Microvast Holdings, Inc. (MVST) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2025. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on May 12, 2025, might help the stock move higher if these key numbers are bett ...

Core Insights - Microvast Holdings, Inc. is set to release its consolidated financial results for Q1 2025 on May 12, 2025, after market close [1] - Following the earnings release, a webcast and earnings conference call will be held to discuss business results and outlook [2] - Microvast is recognized as a global leader in advanced battery technologies, particularly for electric vehicles and energy storage solutions, with over 18 years of experience [3] Company Overview - Founded in 2006 in Stafford, Texas, Microvast has developed a strong portfolio with more than 810 patents and patent applications [3] - The company focuses on delivering innovative battery systems that contribute to a cleaner and more sustainable future [3] - Microvast's commitment to excellence has established it as a trusted partner for customers globally [3]

Core Insights - Microvast Holdings, Inc. has appointed Carl T "Pat" Schultz as the new Chief Financial Officer, bringing over 20 years of financial leadership experience to the company [1][2][4] Company Overview - Microvast is a global leader in advanced battery technologies, focusing on electric vehicles and energy storage solutions, with a legacy of over 18 years [5] - The company has more than 775 patents that support solutions for electrification needs [5] Leadership Experience - Mr. Schultz previously served as Chief Financial Officer of North America at Air Liquide for 10 years and held various roles at Genworth Financial for 8 years [3] - His career began as an audit associate at KPMG [3] Educational Background - Mr. Schultz holds an MBA from the Fuqua School of Business at Duke University, a Master's in Professional Accounting from the University of Texas, and a Bachelor's in Accounting and Finance from Trinity University [4] - He is a Certified Public Accountant in North Carolina and Texas [4] Strategic Importance - The appointment of Mr. Schultz is expected to drive growth, optimize operations, and ensure financial transparency for Microvast [2][4]

STAFFORD, Texas, April 08, 2025 (GLOBE NEWSWIRE) -- Microvast Holdings, Inc. (NASDAQ:MVST) ("Microvast" or the "Company"), a global leader in advanced battery technologies, announced today a collaboration with Tonly Heavy Industries to deploy their TLH135 extended-range hybrid mining trucks equipped with Microvast's high-power battery systems at a mine in Inner Mongolia. This deployment marks a significant step towards establishing a new eco-friendly mining ecosystem. The Tonly TLH135 hybrid mining trucks, ...

Group 1 - The focus has shifted towards offshore drilling, supply industry, and shipping, including tankers, containers, and dry bulk [1] - The fuel cell industry is being monitored as it is still in its early stages of development [1] Group 2 - The individual has extensive experience in auditing and trading, having navigated significant market events such as the dotcom bubble and the subprime crisis [2] - The research provided aims to maintain high quality despite language barriers [2]