Latest news with #MicrovastHoldings
Yahoo
5 days ago
- Business
- Yahoo
Has Microvast (MVST) Outpaced Other Business Services Stocks This Year?
For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Microvast Holdings, Inc. (MVST) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question. Microvast Holdings, Inc. is one of 271 individual stocks in the Business Services sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst. The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Microvast Holdings, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy). Over the past three months, the Zacks Consensus Estimate for MVST's full-year earnings has moved 176% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive. Our latest available data shows that MVST has returned about 72.5% since the start of the calendar year. Meanwhile, stocks in the Business Services group have gained about 3.8% on average. As we can see, Microvast Holdings, Inc. is performing better than its sector in the calendar year. One other Business Services stock that has outperformed the sector so far this year is Nomura Research Institute (NRILY). The stock is up 37.2% year-to-date. For Nomura Research Institute, the consensus EPS estimate for the current year has increased 6.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy). Looking more specifically, Microvast Holdings, Inc. belongs to the Technology Services industry, a group that includes 130 individual stocks and currently sits at #49 in the Zacks Industry Rank. On average, this group has gained an average of 5.3% so far this year, meaning that MVST is performing better in terms of year-to-date returns. Nomura Research Institute is also part of the same industry. Microvast Holdings, Inc. and Nomura Research Institute could continue their solid performance, so investors interested in Business Services stocks should continue to pay close attention to these stocks. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Microvast Holdings, Inc. (MVST) : Free Stock Analysis Report Nomura Research Institute (NRILY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
21-05-2025
- Business
- Yahoo
Why Microvast (MVST) Might be Well Poised for a Surge
Investors might want to bet on Microvast Holdings, Inc. (MVST), as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook. Analysts' growing optimism on the earnings prospects of this company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- is principally built on this insight. The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008. Consensus earnings estimates for the next quarter and full year have moved considerably higher for Microvast, as there has been strong agreement among the covering analysts in raising estimates. The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate: For the current quarter, the company is expected to earn $0.01 per share, which is a change of +104.76% from the year-ago reported number. The Zacks Consensus Estimate for Microvast has increased 100% over the last 30 days, as one estimate has gone higher compared to no negative revisions. For the full year, the company is expected to earn $0.13 per share, representing a year-over-year change of +148.15%. The revisions trend for the current year also appears quite promising for Microvast, with two estimates moving higher over the past month compared to no negative revisions. The consensus estimate has also received a boost over this time frame, increasing 163.33%. Thanks to promising estimate revisions, Microvast currently carries a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500. Microvast shares have added 72.2% over the past four weeks, suggesting that investors are betting on its impressive estimate revisions. So, you may consider adding it to your portfolio right away to benefit from its earnings growth prospects. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Microvast Holdings, Inc. (MVST) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
The Wire
19-05-2025
- Business
- The Wire
Microvast at CIBF 2025: Powering What's Next
STAFFORD, Texas, May 19, 2025 /PRNewswire/ — Microvast Holdings, Inc. (NASDAQ: MVST) ('Microvast' or the 'Company'), a global leader in advanced battery technologies, has highlighted its comprehensive suite of high-performance battery products at the 17th China International Battery Fair (CIBF 2025) at the Shenzhen World Exhibition and Convention Center from May 15th to 17th, 2025. … Continue reading "Microvast at CIBF 2025: Powering What's Next"
Yahoo
13-05-2025
- Business
- Yahoo
Microvast Reports First Quarter 2025 Financial Results
Record company Q1 revenue, increased 43.2% year over year to $116.5 million Gross margin increased from 21.2% to 36.9%, a 15.7 percentage point improvement year over year STAFFORD, Texas, May 12, 2025 (GLOBE NEWSWIRE) -- Microvast Holdings, Inc. (NASDAQ:MVST) ('Microvast' or the 'Company'), a global leader in advanced battery technologies, announced today its unaudited condensed consolidated financial results for the first quarter ended March 31, 2025 ('Q1 2025'). "Building on our strong momentum from 2024, Microvast delivered exceptional first quarter results, achieving record Q1 revenue of $116.5 million, a significant 43.2% year over year increase. This impressive top-line growth is coupled with a substantial expansion in gross margin to 36.9%. For the quarter we booked a net profit of $61.8 million and a positive adjusted EBITDA of $28.5 million, underscoring the increasing demand for our advanced battery solutions and the effectiveness of our focus on profitability and operational efficiency," said Yang Wu, Microvast's Founder, Chairman, and Chief Executive Officer. Results for Q1 2025 Record first quarter revenue of $116.5 million, compared to $81.4 million in Q1 2024, an increase of 43.2% Gross margin increased to 36.9% from 21.2% in Q1 2024; Non-GAAP adjusted gross margin increased to 37.0%, up from 22.6% in Q1 2024 Operating expenses of $25.5 million, compared to $40.9 million in Q1 2024; Non-GAAP adjusted operating expenses of $24.9 million, compared to $30.1 million in Q1 2024 Net profit of $61.8 million, compared to net loss of $24.8 million in Q1 2024; Non-GAAP adjusted net profit of $19.3 million, compared to non-GAAP adjusted net loss of $13.0 million in Q1 2024 Net profit per share of $0.19 compared to net loss per share of $0.08 in Q1 2024; Non-GAAP adjusted net profit per share of $0.06, compared to non-GAAP adjusted net loss per share of $0.04 in Q1 2024 Non-GAAP adjusted EBITDA of positive $28.5 million in Q1 2025, compared to non-GAAP adjusted EBITDA of negative $3.7 million in Q1 2024 Capital expenditures of $6.6 million, compared to $10.2 million in Q1 2024 Cash, cash equivalents, restricted cash and short-term investments of $123.0 million as of March 31, 2025, compared to $109.6 million as of December 31, 2024, and $86.7 million as of March 31, 2024 Please refer to the tables at the end of this press release for reconciliations of gross profit to non-GAAP adjusted gross profit, operating expenses to non-GAAP adjusted operating expenses, net profit/(loss) to non-GAAP adjusted net profit/(loss), net profit/(loss) to non-GAAP adjusted EBITDA and gross margin to non-GAAP adjusted gross margin. 2025 Outlook For the remainder of 2025, the Company maintains its target revenue growth of 18% to 25% year over year and revenue guidance of $450 million to $475 million Through 2025, with continued regional efficiencies and utilization increases, the Company is targeting a gross margin of 30% Installation of production equipment for Huzhou Phase 3.2, increasing our capacity to meet strong customer demand and targeting first qualified products in Q4 2025 Sustained focus on new customer wins that will continue to expand our presence in differentiated commercial vehicle markets as OEM product lines and segments continue to electrify Webcast Information Company management will host a conference call and webcast on May 12, 2025, at 4:00 p.m. Central Time, to discuss the Company's financial results. The live webcast and accompanying slide presentation will be accessible from the Events & Presentations section of Microvast's investor relations website ( A replay will be available following the conclusion of the event. About Microvast Microvast is a global leader in providing battery technologies for electric vehicles and energy storage solutions. With a legacy of over 18 years, Microvast has consistently delivered cutting-edge battery systems that empower a cleaner and more sustainable future. The company's innovative approach and dedication to excellence have positioned it as a trusted partner for customers around the world. Founded in 2006 in Stafford, Texas, Microvast holds more than 810 patents and patent applications that enable solutions for today's electrification needs. For more information, please visit or follow us on LinkedIn (@microvast). Contact: Investor Relationsir@ Cautionary Statement Regarding Forward-Looking Statements This communication contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about our future results of operations and financial position, our operational performance, our anticipated growth and business strategy, our future capital expenditures and debt service obligations, the projected costs, prospects and plans and objectives of management for future operations, including regarding expected growth and demand for our batteries and energy storage solutions and introduction of new batteries and energy storage solutions, the adoption of such offerings by customers, our expectations relating to backlog, pipeline and contracted backlog, our ability to implement our remediation plan in connection with the material weakness in our internal control over financial reporting, current expectations relating to legal proceedings and anticipated impacts and benefits from the Inflation Reduction Act of 2022 as well as any other proposed or recently enacted legislation. In some cases, you may also identify forward-looking statements by words such as 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'might,' 'objective,' 'plan,' 'project,' 'predict,' 'outlook' 'should,' 'will,' 'would,' or the negative of these terms, or other comparable terminology intended to identify statements about the future. Such forward-looking statements are based upon the current beliefs and expectations of management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements. Many factors could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements, including, among others: (1) our ability to remain a going concern; (2) risk that we may not be able to execute our growth strategies or achieve profitability; (3) risk that we will be unable to raise additional capital to execute our business plan or pay our debts as they come due, which may not be available on acceptable terms or at all; (4) potential difficulties in maintaining manufacturing capacity and establishing expected mass manufacturing capacity in the future; (5) risks relating to delays, disruptions and quality control problems in our manufacturing operations; (6) restrictions in our existing and any future credit facilities; (7) risks of operations in China; (8) the effects of mechanics liens filed by contractors that we do not have sufficient funds to pay; (9) the effects of existing and future litigation; (10) changes in general economic conditions, including increases in interest rates and associated Federal Reserve policies, a potential economic recession, and the impact of inflation on our business; (11) changes in the highly competitive market in which we compete, including with respect to our competitive landscape, technology evolution or regulatory changes; (12) changes in availability and price of raw materials; (13) labor relations, including the ability to attract, hire and retain key employees and contract personnel; (14) heightened awareness of environmental issues and concern about global warming and climate change; (15) risk that we are unable to secure or protect our intellectual property; (16) risk that our customers or third-party suppliers are unable to meet their obligations fully or in a timely manner; (17) risks related to possible future reductions in pricing or order volume or loss of one or more of our significant customers; (18) risks relating to our status as a relatively low-volume purchaser as well as from supplier concentration and limited supplier capacity; (19) risk that our customers will adjust, cancel or suspend their orders for our products; (20) risk of product liability or regulatory lawsuits or proceedings relating to our products or services; (21) our ability to maintain and enhance our reputation and brand recognition; (22) the effectiveness of our information technology and operational technology systems and practices to detect and defend against evolving cyberattacks; (23) changing laws regarding cybersecurity and data privacy, and any cybersecurity threat or event; (24) the effects and associated cost of compliance with existing and future laws and governmental regulations, such as the Inflation Reduction Act; (25) risks relating to whether renewable energy technologies are suitable for widespread adoption or if sufficient demand for our offerings does not develop or takes longer to develop than we anticipate; (26) economic, financial and other impacts such as a pandemic, including global supply chain disruptions; (27) the impacts of geopolitical events, including the ongoing conflicts between Russia and Ukraine and in the Middle East; and (28) Tariffs imposed on products of the PRC into the United States may lead to increased costs and impact our business. Microvast's annual, quarterly and other filings with the U.S. Securities and Exchange Commission identify, address and discuss these and other factors in the sections entitled 'Risk Factors.' Actual results, performance or achievements may differ materially, and potentially adversely, from any forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as forward-looking statements are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date hereof except as may be required under applicable securities laws. Forecasts and estimates regarding our industry and end markets are based on sources we believe to be reliable, however, there can be no assurance these forecasts and estimates will prove accurate in whole or in part. All references to the 'Company,' 'we,' 'us' or 'our' refer to Microvast Holdings, Inc. and its consolidated subsidiaries other than certain historical information which refers to the business of Microvast prior to the consummation of the Business Combination. Non-GAAP Financial Measures To provide investors with additional information regarding our financial results, Microvast has disclosed in this earnings release non-GAAP financial measures, including non-GAAP adjusted gross profit, non-GAAP adjusted EBITDA, non-GAAP adjusted operating expenses, non-GAAP adjusted net profit/(loss) and non-GAAP adjusted gross margin which are non-GAAP financial measures as defined under the rules of the SEC. These are intended as supplemental measures of our financial performance that are not required by, or presented in accordance with U.S. generally accepted accounting principles ('GAAP'). Reconciliations to the most comparable GAAP measures, gross profit, gross margin, operating expenses and net profit/(loss), are contained in tabular form in the unaudited financial statements below. Non-GAAP adjusted gross profit is GAAP gross profit as adjusted for non-cash stock-based compensation expense included in cost of revenues. Non-GAAP adjusted net profit/(loss) is GAAP net profit/(loss) as adjusted for non-cash stock-based compensation expense and change in valuation of warrant and Convertible loan. Non-GAAP adjusted net profit/(loss) per common share is GAAP net profit/(loss) per common share as adjusted for non-cash stock-based compensation expense and change in valuation of warrant and Convertible loan per common share. Non-GAAP adjusted EBITDA is defined as net profit/(loss) excluding depreciation and amortization, non-cash settled share-based compensation expense, interest expense, interest income, changes in fair value of our warrant and Convertible loan and income tax expense or benefit. Non-GAAP adjusted operating expenses is defined as operating expenses excluding non-cash stock-based compensation expense. Non-GAAP adjusted gross margin is defined as GAAP gross margin as adjusted for non-cash stock-based compensation expense included in cost of revenues. We use non-GAAP adjusted gross profit, non-GAAP adjusted EBITDA, non-GAAP adjusted operating expenses, non-GAAP adjusted net profit/(loss) and non-GAAP adjusted gross margin for financial and operational decision-making and as a means to evaluate period-to-period comparisons. We consider them to be important measures because they help illustrate underlying trends in our business and our historical operating performance on a more consistent basis. We believe that these non-GAAP financial measures, when taken together with their most directly comparable GAAP measures, gross profit and net profit/(loss), provide meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our recurring core business operating results. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting, and analyzing future periods. These non-GAAP financial measures also facilitate management's internal comparisons to our historical performance. We believe these non-GAAP financial measures are useful to investors both because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making and (2) they are used by our institutional investors and the analyst community to help them analyze the health of our business. Accordingly, we believe that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating our operating results in the same manner as our management team and board of directors. Non-GAAP financial measures have limitations as an analytical tool, and you should not consider them in isolation, or as a substitute for, financial information prepared in accordance with GAAP. For example, our calculation of non-GAAP adjusted EBITDA may differ from similarly titled non-GAAP measures, if any, reported by our peer companies, or our peer companies may use other measures to calculate their financial performance, and therefore our use of non-GAAP adjusted EBITDA may not be directly comparable to similarly titled measures of other companies. The principal limitation of non-GAAP adjusted EBITDA is that it excludes significant expenses and income that are required by GAAP to be recorded in our financial statements. In addition, it is subject to inherent limitations as it reflects the exercise of judgments by management about which expense and income are excluded or included in determining this non-GAAP financial measure. In order to compensate for these limitations, management presents non-GAAP financial measures in connection with GAAP results. In addition, such financial information is unaudited and does not conform to SEC Regulation S-X and as a result, such information may be presented differently in our future filings with the SEC. For example, with respect to the warrant liability resulting from the merger, we now exclude changes in fair value from net profit/(loss) in our non-GAAP adjusted EBITDA and non-GAAP adjusted net profit/(loss) calculation, which had not been done in prior periods. MICROVAST HOLDINGS, CONDENSED CONSOLIDATED BALANCE SHEETS(In thousands of U.S. dollars, except share and per share data, or as otherwise noted) March 31,2025 December 31,2024 Assets Current assets: Cash and cash equivalents $ 90,898 $ 73,007 Restricted cash, current 32,096 36,572 Accounts receivable (net of allowance for credit losses of $6,523 and $5,090 as of March 31, 2025 and December 31, 2024, respectively) 135,654 120,626 Notes receivable 10,362 7,579 Inventories, net 129,059 143,327 Prepaid expenses and other current assets 30,027 27,019 Assets held for sale 19,896 19,896 Total Current Assets 447,992 428,026 Restricted cash, non-current — 22 Property, plant and equipment, net 485,157 478,189 Land use rights, net 11,366 11,371 Acquired intangible assets, net 2,496 2,607 Operating lease right-of-use assets 18,205 17,628 Other non-current assets 17,716 14,024 Total Assets $ 982,932 $ 951,867 Liabilities Current liabilities: Accounts payable $ 56,771 $ 64,940 Advance from customers 44,204 43,678 Accrued expenses and other current liabilities 104,136 98,456 Amounts due to related parties — 5 Income tax payables 653 652 Short-term bank borrowings 86,241 70,666 Notes payable 47,901 51,756 Total Current Liabilities 339,906 330,153 Long-term bonds payable 41,693 43,157 Long-term bank borrowings 41,302 41,062 Warrant liability 64 290 Share-based compensation liability 98 98 Operating lease liabilities 14,793 14,596 Convertible loan measured at fair value 60,996 104,613 Other non-current liabilities 29,845 30,003 Total Liabilities $ 528,697 $ 563,972 Stockholders' Equity Common Stock (par value of US$0.0001 per share, 750,000,000 and 750,000,000 shares authorized as of March 31, 2025 and December 31, 2024; 325,216,389 and 324,831,634 shares issued, and 323,528,889 and 323,144,134 shares outstanding as of March 31, 2025 and December 31, 2024) $ 33 $ 33 Additional paid-in capital 1,513,685 1,512,982 Statutory reserves 6,032 6,032 Accumulated deficit (1,031,168 ) (1,092,958 ) Accumulated other comprehensive loss (34,347 ) (38,194 ) Total Equity $ 454,235 $ 387,895 Total Liabilities and Equity $ 982,932 $ 951,867 MICROVAST HOLDINGS, CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(In thousands of U.S. dollars, except share and per share data, or as otherwise noted) Three Months EndedMarch 31, 2025 2024 Revenues $ 116,491 $ 81,351 Cost of revenues (73,475 ) (64,126 ) Gross profit 43,016 17,225 Operating expenses: General and administrative expenses (10,453 ) (23,794 ) Research and development expenses (8,248 ) (11,492 ) Selling and marketing expenses (6,799 ) (5,591 ) Total operating expenses (25,500 ) (40,877 ) Subsidy income 1,416 534 Profit/(loss) from operations 18,932 (23,118 ) Other income and expenses: Interest income 177 119 Interest expense (1,188 ) (1,732 ) Changes in fair value of warrant liability and convertible loan 43,160 42 Gain on debt restructuring 389 — Other income/(expense), net 320 (136 ) Profit/(loss) before provision for income taxes 61,790 (24,825 ) Income tax expense — — Net profit/(loss) $ 61,790 $ (24,825 ) Less: net profit/(loss) attributable to noncontrolling interests — — Net profit/(loss) attributable to Microvast Holdings, Inc.'s stockholders $ 61,790 $ (24,825 ) Net profit/(loss) per common share Basic $ 0.19 $ (0.08 ) Diluted $ 0.05 $ (0.08 ) Weighted average shares used in calculating net profit/(loss) per share of common stock Basic 323,430,721 315,367,121 Diluted 374,425,026 315,367,121 MICROVAST HOLDINGS, CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands of U.S. dollars, except share and per share data, or as otherwise noted) Three Months Ended March 31, 2025 2024 Cash flows from operating activities Net profit/(loss) $ 61,790 $ (24,825 ) Adjustments to reconcile net profit/(loss) to net cash used in operating activities: Loss/(gain) on disposal of property, plant and equipment 95 (34 ) Gain on debt restructuring (389 ) — Depreciation of property, plant and equipment 7,985 7,470 Amortization of land use right and intangible assets 192 194 Noncash lease expenses 666 664 Share-based compensation 703 11,865 Changes in fair value of warrant and convertible loan (43,160 ) (42 ) Allowance of credit losses 1,358 578 Product warranty 4,825 3,269 Changes in operating assets and liabilities: Notes receivable (5,263 ) 10,577 Accounts receivable (14,108 ) 12,011 Inventories 15,783 16,341 Prepaid expenses and other current assets (2,402 ) 4,305 Amounts due to related parties (5 ) — Operating lease right-of-use assets (654 ) (323 ) Other non-current assets (1,388 ) (275 ) Notes payable (4,150 ) 1,042 Accounts payable (8,547 ) (27,843 ) Advance from customers 462 (1,694 ) Accrued expenses and other liabilities (6,812 ) (10,623 ) Operating lease liabilities (340 ) (500 ) Other non-current liabilities 528 (126 ) Net cash generated from operating activities 7,169 2,031 Cash flows from investing activities Purchases of property, plant and equipment (2,346 ) (10,241 ) Proceeds on disposal of property, plant and equipment 14 152 Proceeds from maturity of short-term investments — 5,564 Net cash used in investing activities (2,332 ) (4,525 ) MICROVAST HOLDINGS, CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS-Continued(In thousands of U.S. dollars, except share and per share data, or as otherwise noted) Three Months EndedMarch 31, 2025 2024 Cash flows from financing activities Proceeds from borrowings 28,187 18,780 Repayment of bank borrowings (13,062 ) (12,520 ) Repayment of bonds payable (1,375 ) — Deferred payment related to purchases of property, plant and equipment (4,287 ) — Net cash generated from financing activities 9,463 6,260 Effect of exchange rate changes (907 ) (5,251 ) Increase/ (decrease) in cash, cash equivalents and restricted cash 13,393 (1,485 ) Cash, cash equivalents and restricted cash at beginning of the period 109,601 88,189 Cash, cash equivalents and restricted cash at end of the period $ 122,994 $ 86,704 Three Months EndedMarch 31, 2025 2024 Reconciliation to amounts on consolidated balance sheets Cash and cash equivalents $ 90,898 $ 39,451 Restricted cash 32,096 47,253 Total cash, cash equivalents and restricted cash $ 122,994 $ 86,704 MICROVAST HOLDINGS, OF GROSS PROFIT TO ADJUSTED GROSS PROFIT(Unaudited, in thousands of U.S. dollars) Three Months EndedMarch 31, 2025 2024 Revenues $ 116,491 $ 81,351 Cost of revenues (73,475 ) (64,126 ) Gross profit (GAAP) $ 43,016 $ 17,225 Gross margin 36.9 % 21.2 % Non-cash settled share-based compensation (included in cost of revenues) 62 1,138 Adjusted gross profit (non-GAAP) $ 43,078 $ 18,363 Adjusted gross margin (non-GAAP) 37.0 % 22.6 % MICROVAST HOLDINGS, OF OPERATING EXPENSES TO ADJUSTED OPERATING EXPENSES(Unaudited, in thousands of U.S. dollars) Three Months EndedMarch 31, 2025 2024 General and administrative expenses (10,453 ) (23,794 ) Research and development expenses (8,248 ) (11,492 ) Selling and marketing expenses (6,799 ) (5,591 ) Operating expenses (GAAP) $ (25,500 ) $ (40,877 ) Non-cash settled share-based compensation (included in Operating expenses) 641 10,729 Adjusted operating expenses (non-GAAP) $ (24,859 ) $ (30,148 ) MICROVAST HOLDINGS, OF NET PROFIT/(LOSS) TO ADJUSTED NET PROFIT/(LOSS)(Unaudited, in thousands of U.S. dollars, except per share data, or as otherwise noted) Three Months EndedMarch 31, 2025 2024 Net profit/(loss) (GAAP) $ 61,790 $ (24,825 ) Changes in fair value of warrant and Convertible loan* (43,160 ) (42 ) Non-cash settled share-based compensation* 703 11,867 Adjusted net profit/(loss) (non-GAAP) $ 19,333 $ (13,000 ) *The tax effect of the adjustments was nil. Three Months EndedMarch 31, 2025 2024 Net profit/(loss) per common share-Basic (GAAP) $ 0.19 $ (0.08 ) Changes in fair value of warrant and Convertible loan per common share (0.13 ) — Non-cash settled share-based compensation per common share — 0.04 Adjusted net profit/(loss) per common share-Basic (non-GAAP) $ 0.06 $ (0.04 ) MICROVAST HOLDINGS, OF NET PROFIT/(LOSS) TO EBITDA AND ADJUSTED EBITDA (Unaudited, in thousands of U.S. dollars) Three Months EndedMarch 31, 2025 2024 Net profit/(loss) (GAAP) $ 61,790 $ (24,825 ) Interest expense (income), net 1,011 1,613 Income tax expense — — Depreciation and amortization 8,177 7,664 EBITDA (non-GAAP) $ 70,978 $ (15,548 ) Changes in fair value of warrant liability and convertible loan (43,160 ) (42 ) Non-cash settled share-based compensation 703 11,867 Adjusted EBITDA (non-GAAP) $ 28,521 $ (3,723 )Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
Microvast Holdings, Inc. (MVST) Q1 Earnings and Revenues Surpass Estimates
Microvast Holdings, Inc. (MVST) came out with quarterly earnings of $0.06 per share, beating the Zacks Consensus Estimate of a loss of $0.02 per share. This compares to loss of $0.04 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 400%. A quarter ago, it was expected that this company would post a loss of $0.02 per share when it actually produced a loss of $0.01, delivering a surprise of 50%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Microvast , which belongs to the Zacks Technology Services industry, posted revenues of $116.49 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 12.28%. This compares to year-ago revenues of $81.35 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Microvast shares have added about 6.3% since the beginning of the year versus the S&P 500's decline of -3.8%. While Microvast has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Microvast: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.02 on $109.77 million in revenues for the coming quarter and -$0.01 on $457 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Technology Services is currently in the top 27% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Society Pass Incorporated (SOPA), is yet to report results for the quarter ended March 2025. This company is expected to post quarterly loss of $0.22 per share in its upcoming report, which represents a year-over-year change of +81.8%. The consensus EPS estimate for the quarter has been revised 20.4% higher over the last 30 days to the current level. Society Pass Incorporated's revenues are expected to be $2.2 million, up 18.9% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Microvast Holdings, Inc. (MVST) : Free Stock Analysis Report Society Pass Incorporated (SOPA) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
