Microvast Q3 2024 revenue $101.4M (+26.6% YoY); net profit $13.2M vs Q3 2023 loss

Microvast Holdings, Inc.

2024-Q3 EPS reported -$0.28 revenue$266,414,000

Revenue $101.4M (+26.6% YoY); gross margin expanded to 33.2% from 22.3%.
Net profit $13.2M ($0.04 EPS) vs net loss $26.2M ($0.08 loss); adj. net profit $16.8M.
Adjusted EBITDA turned positive at $28.6M vs negative $5.3M in Q3 2023.
FY 2024 revenue growth target 15-18% YoY; Q4 guidance $90M-$95M; gross margin target 25-30%.
Cash & equivalents $115M as of Sep 30, 2024, up from $93.8M at Dec 31, 2023.

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