Microvast Q2 revenue $75M, up 16%; gross margin 15.3%; backlog record $676M

Microvast Holdings, Inc.

2023-Q2 EPS reported -$0.18 revenue$121,926,000

Revenue $75.0M (+16.4% YoY), beating guidance; gross margin 15.3% vs 7.5%.
Record backlog $675.9M (+541.9% YoY); net loss narrowed to $26.1M from $44.2M.
Q3 2023 revenue guidance $72M-$80M; full-year 2023 revenue guidance $348M-$368M.
Clarksville, TN trial production on track for Q4 2023; Huzhou 53.5Ah cells shipping.
Adjusted EBITDA loss improved to $(4.2)M from $(9.2)M; cash $195.8M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Microvast Holdings, Inc. reported the six months ended June 30, 2023 results: revenue $121.9 million.

Period: the six months ended June 30, 2023
Revenue: $121.9 million
Result: reported results

Exact text from the filing

Results for Six Months Ended June 30, 2023 (“YTD 2023”) • Revenue of $121.9 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Microvast Holdings, Inc. reported the second quarter ended June 30, 2023 results: revenue $75.0 million. Guidance reaffirmed.

Period: the second quarter ended June 30, 2023
Revenue: $75.0 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Microvast Reports Second Quarter 2023 Financial Results • Revenue increased 16.4% year over year to $75.0 million, exceeding guidance

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20 earnings releases filed in the last 30 days. Browse all earnings releases →

Microvast Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001760689-23-000024

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