Microvast reports FY 2023 revenue up 49.9% to $306.6M; Q4 revenue record $104.6M

Microvast Holdings, Inc.

2024-Q1 EPS reported -$0.08 revenue$81,351,000

FY 2023 gross margin improved to 18.7% from 4.4%; Q4 gross margin 22.0% vs 3.4%.
Net loss narrowed to $106.4M from $158.2M; adjusted net loss $41.6M vs $77.3M.
Cash and equivalents dropped to $93.8M from $327.7M due to capex of $186.8M.
Q1 2024 guidance: revenue $65M-$75M (40-60% YoY growth); gross margin target 20-25%.
Clarksville Phase 1A financing remains a key initiative to support U.S. operations.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Microvast Holdings, Inc. reported financial results for the fourth quarter and year ended December 31, 2023.

Period: the fourth quarter and year ended December 31, 2023
Result: reported results

Exact text from the filing

On April 1, 2024, Microvast Holdings, Inc. issued a press release announcing its consolidated financial results for the fourth quarter and year ended December 31, 2023.

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Source: SEC EDGAR

accession 0001760689-24-000011

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