05:50 AM EDT, 04/02/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

Microvast's ( MVST ) shares slid 24% in premarket activity on Tuesday after the company reported a wider loss than anticipated in Q4, and its guidance for Q1 revenue also missed estimates.

The company reported a Q4 non-GAAP net loss late Monday of $0.04 per diluted share, compared with a $0.05 loss per share a year earlier.

Three analysts polled by Capital IQ expected a loss of $0.03.

Revenue for the quarter ended Dec. 31 rose to $104.6 million from $64.8 million a year earlier. Three analysts surveyed by Capital IQ expected $94.5 million.

For Q1, the company expects revenue of $65 million to $75 million. The consensus is for $107.4 million in a Capital IQ poll.

Price: 0.6802, Change: -0.21 , Percent Change: -24.00