Microvast Holdings Earnings Call Transcripts
Fiscal Year 2026
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Q3 revenue fell 62.8% YoY as volume and demand weakened, while inventory write-downs and impairments drove heavy losses. Priorities are liquidity preservation and near-term debt negotiations, with going-concern doubt unresolved.
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Q2 2026 revenue fell 4.5% year-over-year to $87.3 million, with gross margin down to 29.5% due to higher costs and lower utilization. European sales rose 35%, while APAC and U.S. sales declined. Huzhou Phase 3.2 expansion and advanced R&D remain key priorities.
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Q1 2026 revenue fell 48% year-over-year due to lower volumes and market headwinds, but gross margins remained resilient at 31.6%. Strategic investments in next-gen battery tech and U.S. manufacturing are expected to drive a revenue ramp-up in the second half of 2026.
Fiscal Year 2025
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Record 2025 revenue of $427.5M marked a 12.6% increase, with strong EMEA and U.S. growth, improved margins, and a shift to positive adjusted EBITDA. Strategic expansion and new product launches position the company for continued growth in 2026.
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Record quarterly revenue of $123.3 million marked a 21.6% year-over-year increase, with gross margin rising to 37.6% and adjusted net profit reaching $11.9 million. Expansion of production capacity and a new partnership with Škoda Group support continued growth and innovation.
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Record Q2 revenue and improved margins highlight strong operational execution and innovation, with adjusted net profit and EBITDA turning positive year-over-year. Guidance for 2025 remains robust, supported by new capacity and continued growth in EMEA and APAC.
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Record Q1 revenue grew 43% year-over-year to $116.5 million, with EMEA sales up 108% and gross margin rising to 36.9%. Net profit reached $61.8 million, and the company guides for 18–25% revenue growth in 2025, supported by capacity expansion and ongoing innovation.
Fiscal Year 2024
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Record 2024 revenue and gross margin gains were driven by EMEA and U.S. growth, while APAC declined due to strategic repositioning. 2025 guidance targets 18%-25% revenue growth, 30% gross margin, and continued innovation and expansion.
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Achieved record Q3 profitability with $13.2M net profit and $101.4M revenue, driven by 212% EMEA growth and improved margins. Outlook remains strong with targeted 15–18% annual revenue growth and continued focus on innovation and operational efficiency.
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Record Q2 revenue of $83.7M, up 12% year-over-year, with EMEA sales surging 401% and gross margin rising to 32.5%. Q3 revenue is projected at $85–90M, driven by continued EMEA and APAC growth, alongside new product launches and strategic partnerships.