Microvast Holdings (MVST) Company Report

Microvast Holdings reported record Q3 2025 revenue of $123.3 million, representing a 21.6% increase year-over-year, with gross margin improving to 37.6% from 33.2% in Q3 2024.
The company recorded a GAAP net loss of $1.5 million for Q3 2025, while delivering a positive adjusted EBITDA of $21.9 million.
As of September 30, 2025, Microvast's cash, cash equivalents, and restricted cash amounted to $142.6 million.
For the full year 2025, Microvast maintains its revenue guidance of $450 million to $475 million and has updated its gross margin outlook to a target range of 32% to 35%.

Nov 10, 2025, 10:00 PM

Microvast Announces Strong Q3 2025 Results and Positive Outlook

MVST

Earnings

Guidance Update

New Projects/Investments

Microvast reported record Q3 2025 revenue of $123.3 million, marking a 21.6% year-over-year increase, alongside a gross margin of 37.6%. The company also achieved $21.9 million in Adjusted EBITDA and $11.9 million in Adjusted Net Profit for the quarter.
The company's financial stability improved, ending Q3 2025 with $143 million in cash (including restricted cash), a $33 million increase, and reported a backlog of $238 million.
Microvast's Huzhou facility Phase 3.2 expansion is on track, with production equipment installation expected to be completed by year-end and initial production anticipated in Q1 2026, adding up to 2GWh of annual capacity.
For the full year 2025, Microvast provided revenue guidance of $450-475 million, targeting 18-25% revenue growth and an updated gross margin range of 32-35%.

Nov 10, 2025, 10:00 PM

Microvast Announces Strong Q3 2025 Results and Raised Full-Year Gross Margin Target

MVST

Earnings

Guidance Update

New Projects/Investments

Microvast reported record Q3 2025 revenue of $123.3 million, a 21.6% year-over-year increase, alongside a gross profit margin of 37.6%, up 4.4 percentage points from Q3 2024.
The company achieved Q3 2025 operating profit of $13 million, adjusted net profit of $11.9 million, and adjusted EBITDA of $21.9 million, continuing a trend of positive adjusted EBITDA.
Year-to-date, revenue grew 24.3% to $331 million, with adjusted net profit of $47.5 million and adjusted EBITDA of $76.3 million, significantly improving from the prior year.
Microvast generated positive operating cash flow of $59.5 million for the nine-month period, holding $142.6 million in cash, cash equivalents, and restricted cash at quarter's end.
The company affirmed its full-year 2025 revenue guidance of $450 million-$475 million and raised its full-year gross margin target to 32%-35%. The Huzhou phase 3.2 expansion, adding up to 2 GWh annual capacity, is expected to begin initial production in Q1 2026.

Nov 10, 2025, 10:00 PM

Microvast Holdings, Inc. Reports Q3 2025 Financial Results

MVST

Earnings

Guidance Update

Revenue Acceleration/Inflection

Microvast Holdings, Inc. reported record Q3 2025 revenue of $123.3 million, an increase of 21.6% year-over-year.
The company's gross margin for Q3 2025 increased to 37.6%, up from 33.2% in Q3 2024.
Microvast recorded a GAAP net loss of $1.5 million but delivered a positive adjusted EBITDA of $21.9 million for Q3 2025.
The company maintains its 2025 target revenue growth of 18% to 25% year over year, with revenue guidance of $450 million to $475 million, and updated its gross margin outlook for full year 2025 to a target range of 32% to 35%.
As of September 30, 2025, cash, cash equivalents and restricted cash stood at $142.6 million.

Nov 10, 2025, 9:54 PM

Microvast Holdings, Inc. enters into at-the-market equity offering agreement

MVST

Microvast Holdings, Inc. entered into a Controlled Equity OfferingSM Sales Agreement on October 3, 2025, with Cantor Fitzgerald & Co. and Needham & Company, LLC.
Pursuant to this agreement, the company may sell common stock with an aggregate offering price of up to $125,000,000.
The net proceeds from the offering are intended for general corporate purposes, which may include paying or refinancing indebtedness, funding acquisitions, capital expenditures, and working capital.
The company will pay the agents a commission of up to 3.0% of the aggregate gross proceeds from the offering.