Microvast (US:MVST) Globenewswireยท2025-08-11 21:00Core Insights - Microvast Holdings, Inc. reported a record revenue of $91.3 million for Q2 2025, representing a 9.2% year-over-year increase, alongside a gross margin expansion to 34.7% [2][5][6] - The company recorded a GAAP net loss of $106.1 million but achieved a positive adjusted EBITDA of $25.9 million, indicating a focus on profitability and operational efficiency [2][6][13] Financial Results for Q2 2025 - Revenue reached $91.3 million, up from $83.7 million in Q2 2024, a 9.2% increase [5][6] - Gross margin improved to 34.7% from 32.5% in Q2 2024, with a non-GAAP adjusted gross margin of 34.8% [5][6] - Operating expenses decreased significantly to $16.5 million from $126.7 million in Q2 2024 [6] - Non-GAAP adjusted net profit was $16.3 million compared to a loss of $87.9 million in Q2 2024 [6] - Non-GAAP adjusted EBITDA was positive at $25.9 million, a significant improvement from a negative $78.4 million in Q2 2024 [6] Financial Results for Six Months Ended June 30, 2025 - Total revenue for the first half of 2025 was $207.8 million, up 25.9% from $165.0 million in the same period of 2024 [6] - Gross margin for YTD 2025 increased to 36.0% from 26.9% in YTD 2024 [6] - Net loss for the first half of 2025 was $44.3 million, a reduction from a loss of $126.4 million in YTD 2024 [6] - Non-GAAP adjusted net profit for the first half of 2025 was $35.6 million compared to a loss of $100.9 million in YTD 2024 [6] 2025 Outlook - The company maintains a target revenue growth of 18% to 25% year-over-year, with revenue guidance of $450 million to $475 million for the full year 2025 [13] - Targeted gross margin has been updated from 30% to 32% [13] - The company is focused on expanding production capacity to meet strong customer demand, with completion of the Huzhou Phase 3.2 expansion expected by year-end [13]