Microvast Holdings, Inc. (NASDAQ: MVST), a global leader in advanced battery technologies, saw its stock surge 12.97% in pre-market trading on Tuesday following the release of its impressive first-quarter 2025 financial results. The company reported record Q1 revenue and a significant turnaround in profitability, while maintaining a positive outlook for the remainder of the year.
For the first quarter of 2025, Microvast reported record revenue of $116.5 million, marking a substantial 43.2% increase compared to the same period last year. The company's bottom line showed remarkable improvement, with a net profit of $61.8 million, a dramatic turnaround from a net loss of $24.8 million in Q1 2024. Earnings per share came in at $0.19, compared to a loss of $0.08 per share in the prior year's quarter.
Microvast's profitability metrics saw considerable enhancement, with gross margin expanding from 21.2% to 36.9% year-over-year. The company's adjusted EBITDA turned positive at $28.5 million, contrasting with a negative $3.7 million in Q1 2024. Adding to investor optimism, Microvast maintained its previous guidance for the remainder of 2025, targeting revenue growth of 18% to 25% year-over-year and revenue between $450 million and $475 million. The company also aims to achieve a gross margin of 30% for the year, supported by regional efficiencies and increased utilization.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.