Microvast Holdings, Inc. · NASDAQ:MVST
Microvast — Q4 2022 Earnings Presentation
14 slides from Microvast's earnings presentation, Mar 16, 2023
Slide 1: Q4 2022 | FY 2022
q4 2022 | Fy 2022
Slide 2: Forward-Looking Statements
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 future financial and operating results, our plans, objectives, expectation
Slide 3: 2022 Overview
3 2022 Overview Q4 2022 | fy 2022 35% revenue growth year over year to $204.5M >3.5x increase in backlog position $410.5M driven by energy storage business in the U.S. and strong demand in Europe = Established Microvast Energy division in Colorado substantially expanding our addressable market to en
Slide 4: Highlights
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Slide 5: Steady Business Growth Through Production Ramp-Up Period
5 Steady Business Growth Through Production Ramp-Up Period Q4 2022 § Raw material prices, especially lithium § Worldwide inflationary pressures § Increasing rate environment, led by Fed tightening § Staff impact due to China removing Covid Zero Policy $364.7M $410.5M$64.8M Revenue (-3.0% YoY) 4GWh 5
Slide 6: Major Product Developments in the Global Commercial Vehicle Market
6 Major Product Developments in the Global Commercial Vehicle Market Q4 2022 OEM & Market Vehicle Battery Type Highlights 98 – 128 kWh HpCO-53.5Ah Full electric skateboard platform Full electric agricultural tractor HpCO-53.5Ah MV-C Gen 4 pack Full day operation, one hour of recharge to 100% power B
Slide 7: Q4 2022 Highlights
7 Q4 2022 Highlights Q4 2022 Q4 ORDER INTAKE O N G O IN G M A JO R O R D E R ~$10M Airport cargo handling E-bus ~$6M Stable business growth with existing customers & new projects with $364.7M Q4 order value.
Slide 8: Financials
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Slide 9: Condensed Consolidated Statement of Operations
9 Condensed Consolidated Statement of Operations (USD’000) Q4 2022 | FY 2022 GAAP Income Statement Three-Month Ended December 31 Twelve-Month Ended December 31 2021 2022 YoY(%) 2021 2022 YoY (%) Revenue 66,772 64,797 -3% 151,976 204,495 35% Cost of revenues (65,619) (62,571) -5% (194,719) (195,422)
Slide 10: 2022 Adjusted Financials
10 2022 Adjusted Financials Non-GAAP (USD’000) Q4 2022 | FY 2022 Cost of Sales Adjustments Three-Month Ended December 31 Twelve-Month Ended December 31 Three-Month Ended December 31 Twelve-Month Ended December 31 2021 2022 2021 2022 2021 2022 2021 2022 Revenue 66,772 64,797 151,976 204,495 Non-Cash
Slide 11: 2022 Revenue by Region
11 2022 Revenue by Region (USD’000) Q4 2022 | FY 2022 Q4 Jan - Dec Revenue by region Three-Month Ended December 31 2021 2022 YoY % APAC (Excluding China) 16,842 7,146 -58% China 41,314 52,143 26% EMEA 8,076 4,747 -41% USA 540 761 41% Total 66,772 64,797 -3% Revenue by region Twelve-Month Ended Decem
Slide 12: 2022 Financial Highlights
12 2022 Financial Highlights Q4 2022 | fy 2022 $327.7M $128.7M Cash position $410.5M Order Backlog HpCO-53.5Ah Cell Expansion Capex Solid cash position – $327.7M cash (includes short-term investment) Expansion CAPEX of $128.7M, supporting ongoing 4GWh capacity expansions for HpCO-53.5Ah, Adds c. $1B
Slide 13: Outlook
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Slide 14: 2023 Outlook
14 2023 Outlook Q4 2022 | fy 2022 On the path to achieve profitability within the next 2-3 years. ANNUAL REVENUE POTENTIAL backlog Strong Backlog & Technology Supports Multi-Year High Growth Phase 65%-75% revenue growth $410.5M supported by energy storage business in the U.S. and strong demand in Eu