Overview

* Microvast ( MVST ) Q3 revenue rose 21.6% yr/yr, beating analyst expectations

* Adjusted net income for Q3 missed analyst expectations

* Adjusted EBITDA for Q3 missed analyst expectations

Outlook

* Company maintains 2025 revenue guidance of $450 mln to $475 mln

* Microvast ( MVST ) updates 2025 gross margin outlook to 32%-35%

* Company to complete Huzhou Phase 3.2 expansion by year-end

Result Drivers

* REVENUE GROWTH - Co attributes 21.6% revenue increase to strong demand for battery solutions

* GROSS MARGIN IMPROVEMENT - Co cites efficiency and product mix as reasons for 4.4 percentage point gross margin increase

* ADJUSTED EBITDA - Positive adjusted EBITDA of $21.9 mln reflects focus on profitability and operational excellence, per CEO Yang Wu

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $123.3 $120.02

Revenue mln mln (2

Analysts

)

Q3 Miss $11.9 $17.34

Adjusted mln mln (1

Net Analyst)

Income

Q3 Net -$1.5

Income mln

Q3 Miss $21.9 $25.13

Adjusted mln mln (2

EBITDA Analysts

)

Q3 $33.5

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the electrical components & equipment peer group is "buy"

* Wall Street's median 12-month price target for Microvast Holdings Inc ( MVST ) is $5.50, about 10.4% above its November 7 closing price of $4.93

* The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)