Microvast Holdings, Inc. · NASDAQ:MVST
Microvast — Q2 2025 Earnings Presentation
17 slides from Microvast's earnings presentation, 2025
Slide 1: Q2 2025
e Lot J microvast Q2 2025
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements Non-GAAP Financial Measures This communication contains “forward-looking statements” within the meaning of the Private Securities This presentation contains adjusted EBITDA and adjusted net profit/loss, which are non-GAAP financial Litigation Reform Act of 1995.
Slide 3: Microvast Snapshot
Microvast Snapshot Latest Technology Announcements 18 Years of Innovation in Electrification 810+ Patents Granted or Pending ME6 - Overhaulable ESS Containers 2,000+ Employees Globally Optimized TCO with a robust design allowing for overhauls. Increased capacity and stability with Founded
Slide 4: Q2 Overview
Q2 Overview Realizing Results Record Q2 Revenue Q2 Gross Margin Backlog Q2 Adj. EBITDA $91.3M 34.7% $320M $25.9M +9.2% Y/Y +2.2pp Y/Y Market Capture Strategic Execution Q2 Revenue Q2 Gross Profit & Gross Margin $91.3 $83.7 $35 $32 100% $75.0 $30 $27 $64.4 80% MILLIONS USD $25 MILLIONS USD $20 60% 34
Slide 5: Business Strategy
Business Strategy Innovate: Capture: Expand: Future Focus Significant Market Share Supporting Growth Remain focused on product innovations and Invest in commercialization of high demand Add production capacity to meet growing exciting upcoming R&D developments. and key future technologies. cus
Slide 6: Phase 3.2 Update
Phase 3.2 Update Capacity Expansion Expanding our Huzhou facility with Phase 3.2 will allow us to deliver more products to more customers: Expansion is well under way – installation completion is expected by year-end, with initial production to follow. Clean rooms completed. Utility equipment
Slide 7: All-Solid-State Battery Milestones
All-Solid-State Battery Milestones Pioneering Multi-Layer Bipolar Integration 5-Layer Cell: Stable Cycling with High Efficiency Cycling tests at 1C demonstrated a high coulombic efficiency of 99.89%. This indicates robust interfacial integrity and minimal energy loss during charge transfer, which is
Slide 8: Advancing ASSB Technology
Advancing ASSB Technology Key Milestones & Market Impact Endurance & Integration Advantages for Commercialization 5-Layer Cell: Stable Cycling with High Efficiency Simplified System Design: Traditional lithium-ion cells are constrained by electrolyte Building on the results demonstrated in Q1, o
Slide 9: Q2 2025 Financials
e Lot J microvast Q2 2025 FINANCIALS
Slide 10: Q2 2025 P&L
Q2 2025 P&L ($ in thousands) Three-Months Ended June 30 Six-Months Ended June 30 Revenue vs. Prior Year Periods GAAP Income Statement 2025 2024 2025 2024 Revenue rose 9.2% year-over-year (“Y/Y”). Growth of 25.9% for the six-month period, Revenue 91,339 83,675 207,830 165,026 driven by a ~300 MWh i
Slide 11: Q2 2025 Revenue by Region
Q2 2025 Revenue by Region ($ in thousands) Three-Months Ended June 30 Six-Months Ended June 30 2025 2024 2025 2024 USA, 5% USA, 2% USA, 5% USA, 2% APAC, 43% APAC, 47% EMEA, 43% EMEA, EMEA, EMEA, APAC, 55% 48% APAC, 52% 46% 52% Revenue by Three-Months Ended June 30 Revenue by Six-Months Ended June 30
Slide 12: Cash Flow Statement
Cash Flow Statement ($ in thousands) Operating Cash Flow Six-Months Condensed & Consolidated Cashflow Ended June 30 Net loss for the six-month period was primarily offset by a 2025 $7.1 million decrease in inventory, non-cash adjustments of GAAP net profit/(loss) (44,268) $16.5 million in D&A and
Slide 13: Outlook
e Lot J microvast OUTLOOK
Slide 14: 2025 Outlook
2025 Outlook 18-25% $450-475M 30% 32% Target Revenue Growth Revenue Guidance Updated Target Gross Margin APAC EMEA Americas Targeting Phase 3.2 completion by Expected >20% Y/Y revenue growth Anticipate ~50% Y/Y revenue Q4, followed by initial production. for 2025. growth for 2025. Progress towards R
Slide 15: Appendix
e Lot J microvast APPENDIX
Slide 16: Non-GAAP Reconciliations
Non-GAAP Reconciliations ($ in thousands) Three-Months Ended June 30 Six-Months Ended June 30 2025 2024 2025 2024 Revenues 91,339 83,675 207,830 165,026 Cost of revenues (59,616) (56,480) (133,091) (120,606) Gross profit (GAAP) 31,723 27,195 74,739 44,420 Gross margin 34.7% 32.5% 36.0% 26.9% Non-cas
Slide 17: Non-GAAP Reconciliations
Non-GAAP Reconciliations ($ in thousands) Three-Months Ended June 30 Six-Months Ended June 30 2025 2024 2025 2024 Net profit/loss (GAAP) (106,058) (101,556) (44,268) (126,381) Changes in fair value of warrant and convertible loan* 121,521 1,568 78,361 1,526 Non-cash settled share-based compensation*