NASDAQ$MVST
Microvast Holdings Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Microvast's Q3 2023 earnings demonstrated significant revenue growth and improved gross margins.
Microvast reported a strong third quarter with a 107.5% increase in revenue year-over-year, reaching $80.1 million. The company also achieved a record backlog of $678.7 million, up 382.7% year-over-year, and improved gross margin to 22.3%.
- Revenue increased by 107.5% year-over-year to $80.1 million.
- Record backlog reached $678.7 million, a 382.7% increase year-over-year.
- Gross margin improved to 22.3% from 5.2% in Q3 2022.
- Net loss decreased to $26.2 million compared to $36.5 million in Q3 2022.
Headline financials
Revenue & EPS history
Microvast · Revenue · Quarterly
$80.1M
Forward guidance
Microvast anticipates adding major projects to its backlog and expects revenue to be in the range of $90 million to $100 million in Q4 2023, and $292 million to $302 million for the full year 2023.
Tailwinds
- Anticipates adding major projects to its record backlog.
- Continued growth in orders.
- Expects revenue to be in the range of $90 million to $100 million in Q4 2023.
- Full year 2023 revenue expected to be $292 million to $302 million.
- Continued ramp up of qualified product deliveries to customers of 53.5Ah cells from Huzhou, China.
Headwinds
- Work towards completion of construction and equipment installation in Clarksville, Tennessee to begin ramp up in Q1 2024.
- Delivering qualified products into Q2 2024.
- Begin incremental investment program for the Phase 3.2 additional capacity expansion.
- New flexible automated production line in Huzhou, China to meet growing demand.
- No specific negative financial guidance provided.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2023
+14.0%
Avg return
Earnings day
+8.6%
Avg return
5 days after
+14.8%
Avg return
30 days after
43%
12 / 28 earnings
Positive
+308.0%
Q3 2024
Best reaction
-29.5%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -5.6% | -33.8% | -47.4% | |
| Q4 2025 | +7.1% | -30.7% | -19.9% | |
| Q3 2025 | -10.1% | -22.9% | -32.9% | |
| Q1 2025 | +30.0% | +41.4% | +75.7% | |
| Q4 2024 | +32.5% | +53.0% | +60.7% | |
| Q3 2024 | +308.0% | +268.2% | +546.2% | |
| Q2 2024 | -5.2% | -11.4% | -33.3% | |
| Q1 2024 | +8.7% | +11.7% | -6.4% | |
| Q4 2023 | -29.5% | -41.2% | -51.7% | |
| Q3 2023 | +3.0% | -1.1% | -15.6% | |
| Q2 2023 | -2.0% | -16.5% | -11.7% | |
| Q1 2023 | +57.1% | +39.5% | +23.5% | |
| Q4 2022 | -4.6% | -3.8% | -1.5% | |
| Q3 2022 | +8.4% | +9.3% | -14.1% | |
| Q2 2022 | +4.2% | +3.2% | -10.9% | |
| Q1 2022 | +10.8% | +26.3% | -26.3% | |
| Q4 2021 | -4.6% | -17.3% | -31.1% | |
| Q3 2021 | -3.6% | -7.7% | -22.6% | |
| Q4 2020 | -3.6% | -7.7% | -22.6% | |
| Q2 2021 | -6.6% | -14.2% | -11.5% | |
| Q1 2021 | +2.2% | +1.1% | -2.3% | |
| Q3 2020 | -0.3% | +0.5% | +68.6% | |
| Q2 2020 | +0.0% | -0.1% | -0.2% | |
| Q1 2020 | +0.4% | +0.4% | +1.0% | |
| Q4 2019 | -2.9% | -4.3% | -0.1% | |
| Q3 2019 | -0.1% | -0.4% | +0.1% | |
| Q2 2019 | -0.5% | -0.6% | -0.4% | |
| Q1 2019 | -0.2% | -0.1% | -0.1% |
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