Microvast Holdings, Inc. · NASDAQ:MVST
Microvast — FY2024 Earnings Presentation
19 slides from Microvast's earnings presentation, Mar 31, 2025
Slide 1: Microvast 2024
eo Lo J microvast’ 2024
Slide 2: Disclaimer: Forward-Looking Statements
2 Disclaimer Forward-Looking Statements This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about our future results of operations and financial position, our
Slide 3: Microvast Snapshot
3 Click to edit text Microvast Snapshot 18 Years of Innovation in Electrification We strive to be a trusted global leader in sustainable energy technologies and solutions. We aspire to be the company with continued groundbreaking battery innovation across the technology stack. We aim to become a ste
Slide 4: Overview: Realizing Results
4 Overview Realizing Results Revenue Gross Profit $204 $307 $380 2022 2023 2024 M IL LI O N S U SD $9 $57 $120 4. 4% 18 .7 % 31 .5 % 0% 20% 40% 60% 80% 100% $0 $20 $40 $60 $80 $100 $120 $140 2022 2023 2024 M IL LI O N S U SD Revenue is up 24% Y/Y - Since 2022, we have almost doubled our revenue, w
Slide 5: Business Strategy for 2025
5 Innovate: Future Focus Capture: Significant Market Share Expand: Supporting Growth Remain focused on production innovations and exciting upcoming R&D developments. Deepen participation in the constantly developing battery supply chain economy. Win entry into new segments with new high- perfo
Slide 6: Operations & Development: Expanding Capacity, Continuing Innovation
6 Operations & Development Expanding Capacity, Continuing Innovation We are expanding our Huzhou facility with Phase 3.2, which will allow us to deliver more products to more customers to meet increasing demand: Expansion is well under way, with production anticipated in Q4 2025. Expected to pro
Slide 7: Highlights
7 HIGHLIGHTS 31.5% Gross Margin Strong 2024 Revenue Growth Expanding Commercial Vehicle Reach $380M Revenue 24% Y/Y Revenue Growth $401M Backlog Successes Customer nomination for next generation battery products by one of the leading European CV OEMs. Strong EMEA market demand for Microvast batt
Slide 8: Business Developments: High Performance Cells Driving Demand
8 Business Developments High Performance Cells Driving Demand OEM Vehicle Battery Type Highlights Market leader for mining trucks, a rapidly expanding market segment. Hybrid Mining Trucks HpCO-53.5Ah Gen 4 MV-B & C Pack HpCO-53.5Ah Gen 4 MV-B & C Pack Anticipate whole line of hybrid vehicles to be s
Slide 9: Business Developments: High Performance Cells Driving Demand
9 Business Developments High Performance Cells Driving Demand OEM Vehicle Battery Type Highlights Cooperating to bring mass production to market. Commercial Trucks MpCO-21Ah / MpCO-17.5Ah Gen 3 MV-B & C Pack MpCO-48Ah Gen 4 MV-B & C Pack HEV truck battery pack targeting the one million units/yr. tru
Slide 10: Business Developments: High Performance Cells Driving Demand
10 Business Developments High Performance Cells Driving Demand OEM Vehicle Battery Type Highlights Australian heavy-duty truck. Commercial Trucks MpCO-48Ah Gen 4 MV-B & C Pack MpCO-19Ah Gen 3 MV-B & C Pack India‘s leading company in battery swapping projects, large market potential due to low TCO. C
Slide 11: Business Developments: High Performance Cells Driving Demand
11 Business Developments High Performance Cells Driving Demand OEM Vehicle Battery Type Highlights XCMG's first hybrid truck with a crane arm using our batteries. Construction Machinery MpCO-21Ah-C Gen 3 MV-B & C Pack HpCO-53.5Ah Gen 4 MV-B & C Pack Preferred battery supplier for hydrogen fuel cell
Slide 12: 2024 Financials
eo Lo J microvast’ 2024 FINANCIALS
Slide 13: 2024 P&L
13 2024 P&L ($ in thousands) Twelve-Months Ended Dec. 31GAAP Income Statement 20232024 306,617 379,801 Revenue (249,390)(260,249)Cost of revenues 57,227 119,552 Gross Profit 18.7%31.5%Gross Margin (96,787)(81,486)General and administrative expenses (45,004)(41,065)Research and development expenses (
Slide 14: 2024 Revenue by Region
14 2024 Revenue by Region ($ in thousands) Twelve-Months Ended Dec. 31Revenue by region Y/Y %20232024 -19%62,65350,558APAC (Ex. China) -19%156,480127,138China 123%84,358187,718EMEA 360%3,12614,387USA 24%306,617379,801Total Twelve-Months Ended Dec. 31 Revenue Breakout More than doubled EMEA revenue
Slide 15: Cash Flow Statement
15 Cash Flow Statement ($ in thousands) Net Loss $195.5M partially offset by non-cash adjustments, including $30.8M in SBC, $30.8M in DD&A, $97.3M from impairments, write downs, and disposals, and $80M in changes in fair value of warrant liability and convertible loan. Operating Cash Flow Net in
Slide 16: Outlook
eo Lo J microvast’ OUTLOOK
Slide 17: 2025 Outlook
17 Global Maintain revenue growth and margin profile as catalysts to improved liquidity and profitability. 2025 Outlook $450-475M Revenue Guidance 18-25% Target Revenue Growth APAC 30% Target Gross Margin Targeting Phase 3.2 production in Q4 2025. Progress towards R&D new product pipeline. EMEA Expe
Slide 18: Appendix
eo Lo J microvast’ APPENDIX
Slide 19: Non-GAAP Reconciliations
19 Non-GAAP Reconciliations ($ in thousands) Twelve-Months Ended Dec. 31 20232024 306,617 379,801 Revenues (249,390)(260,249)Cost of revenues 57,227 119,552 Gross profit (GAAP) 18.7%31.5%Gross margin 6,091 3,479 Non-cash settled share-based compensation (included in cost of revenues) 63,318 123,031