Shares of Microvast Holdings Inc ( MVST ) are trading higher in premarket on Tuesday after the fourth-quarter earnings.

The company reported fourth-quarter sales growth of 8.4% year-on-year to $113.39 million, beating the analyst consensus estimate of $91.88 million.

Adjusted EPS loss for the quarter improved to $0.01 from $0.04 last year.

The gross margin expanded 1,460 basis points to 36.6%, and the gross profit was $41.5 million, an 80% increase.

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Operating expenses for the quarter came down to $43.2 million. Adjusted net loss narrowed to $0.6 million from a loss of $11.4 million last year.

Adjusted EBITDA for the quarter amounted to $8.6 million versus an adjusted EBITDA loss of $2.6 million last year.

The company held $109.6 million in cash and equivalents as of December 31, 2024. Operating cash flow for the year totaled $2.8 million.

“We achieved record quarterly revenue in the fourth quarter of 2024, beating revenue guidance. This brings our full year revenue growth to 23.9% and we delivered these revenues at a gross margin also above guidance. The revenue growth achieved in EMEA is encouraging and we would expect to continue this growth into 2025,” said Founder, Chairman and CEO Yang Wu.

FY25 Outlook: Microvast ( MVST ) is targeting a revenue growth of 18% – 25% to $450 million – $475 million versus the consensus of $463.45 million.

The company expects Huzhou Phase 3.2 production in fourth-quarter, increasing production capacity to meet strong customer demand.

Price Action: MVST shares traded higher by 12% at $1.31 premarket at last check Tuesday.

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