Microvast reports FY2024 revenue up 23.9% to $379.8M; net loss widens to $195.5M

Microvast Holdings, Inc.

2025-Q1 EPS reported $0.05 revenue$116,491,000

Revenue $379.8M (+23.9% YoY); Q4 record $113.4M (+8.4% YoY).
Gross margin 31.5% vs 18.7% in 2023; Q4 gross margin 36.6%.
Net loss $195.5M ($0.61/share) vs $106.4M ($0.34) in 2023; adjusted net loss $84.6M ($0.27).
Backlog $401.3M; 2025 revenue guidance $450-475M (18-25% growth), gross margin target 30%.
Huzhou Phase 3.2 expansion online Q4 2025; CapEx $49.9M vs $186.8M in 2023.

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