Mon, May 12, 9:01 PM (63 days ago)
**Microvast Holdings, Inc. (MVST) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $116.5 million, up 43.2% YoY, driven by increased sales volume (535.7 MWh). - **Gross Profit:** $43.0 million, with a 36.9% margin, up from 21.2% in Q1 2024. - **Operating Expenses:** $25.5 million, down 37.6% YoY, with reductions in G&A and R&D expenses. - **Net Profit:** $61.8 million, a significant improvement from a loss of $24.8 million in Q1 2024. - **Cash Flow:** $7.2 million generated from operating activities. **Key Metrics & Trends:** - **Order Backlog:** $350.5 million, with most orders expected to be fulfilled in 2025 and 2026. - **Cash Position:** $123.0 million in cash and cash equivalents. - **Debt:** $127.5 million in bank borrowings and $41.7 million in convertible bonds. - **Capital Expenditures:** $6.6 million, primarily for manufacturing facilities. **Uncertainties & Future Operations:** - **Going Concern:** Management believes plans will alleviate substantial doubt about the company's ability to continue as a going concern. - **Litigation:** Multiple ongoing legal proceedings, with uncertain outcomes. - **Financing:** Seeking additional capital to complete the Clarksville, Tennessee facility and support U.S. operations. - **Market Risks:** Exposure to interest rate, foreign currency exchange, and credit risks. **Management's Outlook:** - Focus on scaling global production, driving battery innovation, and delivering sustainable energy solutions. - Continued investment in R&D, particularly in solid-state battery technology. - Expansion of ESS solutions to support the broader shift to electrification. - Strategic pivot to LFP technology for the U.S. ESS market, with the introduction of the ME6 ESS container. **Ticker:** MVST **Note:** Amounts are in thousands, 000s.