Microvast Holdings (MVST) Tops Q3 EPS by 6c; Offers FY23 Revenue Guidance

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Go back to Microvast Holdings (MVST) Tops Q3 EPS by 6c; Offers FY23 Revenue Guidance

Microvast Reports Third Quarter 2023 Financial Results

November 9, 2023 4:05 PM EST

Revenue increased 107.5% year over year to $80.1 million Achieved record backlog of $678.7 million, up 382.7% year over year Gross margin increased from 5.2% to 22.3%, a 17.1 percentage point improvement year over year

STAFFORD, Texas--(BUSINESS WIRE)-- Microvast Holdings, Inc. (NASDAQ: MVST) (Microvast or the Company), a technology innovator that designs, develops and manufactures lithium-ion battery solutions, today announced unaudited condensed consolidated financial results for the third quarter ended September 30, 2023 (Q3 2023).

In the third quarter, we achieved excellent year over year revenue growth, led by increased deliveries of our 53.5Ah... More