Filing Flows › Microvast Holdings (MVST) › Q1 2025
Microvast Holdings (MVST) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 12, 2025
Microvast Holdings (MVST) reported revenue of $116M for the first quarter 2025 (Q1 2025), +43% from a year earlier and +3% from the quarter before. Operating margin was 16.3%, net earnings $61.8M (53.0% of revenue).
Microvast Holdings, Q1 2025: revenue $116M (+43% year over year), operating margin 16.3%, net earnings $61.8M, operating cash flow $7.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $116M | +3% | +43% |
| Gross profit | $43.0M | +4% | +150% |
| Operating profit | $18.9M | — | — |
| Net earnings | $61.8M | — | — |
| Operating cash flow | $7.2M | +18% | +253% |
| Free cash flow | $4.8M | -16% | — |
What changed
Revenue was $116.5M in Q1 2025, up 43% year over year and up 3% from the previous quarter.
Gross margin was 36.9%, up 15.8 points from a year earlier. Operating profit was $18.9M, a 16.3% margin (up 44.7 points year over year). Operating expenses fell 40% while revenue rose 43%. Net earnings were $61.8M. The effective tax rate was 0.0%. Non-operating items added $42.9M, 69% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $7.2M (up 253% year over year), 12% of net earnings. Non-cash charges added back $703K of share-based compensation. Working capital and other items used $55.3M. Capital expenditures of $2.3M left free cash flow of $4.8M.
Questions
What was Microvast Holdings' revenue in the first quarter 2025?
Microvast Holdings (MVST) reported revenue of $116M for the first quarter 2025 (Q1 2025), +43% from a year earlier and +3% from the quarter before.
Was Microvast Holdings profitable in the first quarter 2025?
Operating profit was $18.9M (16.3% of revenue) and net earnings $61.8M.
Source: Microvast Holdings 10-Q on SEC EDGAR.