Microvast Holdings, Inc. · NASDAQ:MVST
Microvast — Q4 2024 Earnings Presentation
19 slides from Microvast's earnings presentation, Mar 31, 2025
Slide 1: Microvast 2024
e Lot J microvast 2024
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 loss, which are non-GAAP financial Litigation Reform Act of 1995. Such s
Slide 3: Microvast Snapshot
Microvast Snapshot Recent Technology Announcements 18 Years of Innovation in Electrification 775+ Patents Granted or Pending ME6 - Overhaulable ESS Containers ~1,900 Employees Globally Optimized TCO with a robust design allowing for overhauls. Increased capacity and stability with Founded
Slide 4: Overview: Realizing Results
Overview Realizing Results Q4 Revenue Q4 Gross Margin Backlog Q4 Adj. EBITDA $113.4M 36.6% $401M $8.6M Exceeds Guidance Exceeds Guidance Market Capture Strategic Execution Revenue Gross Profit $380 $140 100% $120 $307 $120 80% MILLIONS USD MILLIONS USD $100 $204 $80 60% 31.5% $57 $60 40% 18.7% $40 2
Slide 5: Business Strategy
Business Strategy Innovate: Capture: Expand: Future Focus Significant Market Share Supporting Growth Remain focused on production innovations and Invest in commercialization of high demand and key Add production capacity to meet growing customer exciting upcoming R&D developments. future techn
Slide 6: Operations & Development
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 provi
Slide 7: Strong 2024 Revenue Growth
Strong 2024 Revenue Growth Expanding Commercial Vehicle Reach Successes Challenges 2024 Key Stats Customer nomination for next generation Meeting the high demand for capacity from battery products by one of the leading European CV OEMs. customers. The battery market remains price sensitive $38
Slide 8: Business Developments
Business Developments High Performance Cells Driving Demand OEM Vehicle Hybrid Mining Trucks Hybrid Mining Trucks Commercial Trucks Battery HpCO-53.5Ah HpCO-53.5Ah MpCO-17.5Ah Type Gen 4 MV-B & C Pack Gen 4 MV-B & C Pack Gen 3 MV-B & C Pack Highlights Anticipate whole line of hybrid vehicles Market
Slide 9: Business Developments
Business Developments High Performance Cells Driving Demand OEM BAIC Heavy Duty Vehicle Hybrid Trucks Commercial Trucks Agricultural Machinery Battery MpCO-48Ah MpCO-21Ah / MpCO-17.5Ah MpCO-48Ah Type Gen 4 MV-B & C Pack Gen 3 MV-B & C Pack Gen 4 MV-B & C Pack HEV truck battery pack targeting the Coo
Slide 10: Business Developments
Business Developments High Performance Cells Driving Demand APAC Leading Truck OEM OEM Confidential Commercial Trucks Vehicle Commercial Trucks Commercial Trucks (fast charge battery swapping) Battery MpCO-19Ah MpCO-48Ah HpCO-53.5Ah Type Gen 3 MV-B & C Pack Gen 4 MV-B & C Pack Gen 4 MV-B & C Pack In
Slide 11: Business Developments
Business Developments High Performance Cells Driving Demand European Leading Bus OEM OEM Dongfeng Confidential Liuzhou Motor Vehicle Commercial Trucks Construction Machinery 18m Articulated e-Bus Battery HpCO-53.5Ah MpCO-21Ah-C MpCO-48Ah Type Gen 4 MV-B & C Pack Gen 3 MV-B & C Pack Gen 4 MV-B & C Pa
Slide 12: 2024 Financials
e Lot J microvast 2024 FINANCIALS
Slide 13: 2024 P&L
2024 P&L ($ in thousands) Twelve-Months Ended Revenue vs. Prior Year Period GAAP Income Statement Dec. 31 Revenue rose 24% year-over-year, with EMEA contributing 2024 2023 almost half of twelve-month revenue. Revenue 379,801 306,617 Gross margin improved by 12.8 pp over the twelve-month Cost of
Slide 14: 2024 Revenue by Region
2024 Revenue by Region ($ in thousands) Twelve-Months Ended Dec. 31 Revenue Breakout More than doubled EMEA revenue Y/Y, with EMEA full year 2024 APAC (Ex. 2023 APAC (Ex. 2024 making up nearly half of our revenue split. We anticipate USA, 4% China), 13% EMEA, USA, 1% China), 21% another strong yea
Slide 15: Cash Flow Statement
Cash Flow Statement ($ in thousands) Net Loss Twelve-Months Condensed & Consolidated Cashflow Ended Dec. 31 $195.5M partially offset by non-cash adjustments, including 2024 Net income/(loss) $30.8M in SBC, $30.8M in DD&A, $97.3M from impairments, (195,457) write downs, and disposals, and $80M in c
Slide 16: Outlook
e Lot J microvast OUTLOOK
Slide 17: 2025 Outlook
2025 Outlook 18-25% $450-475M 30% Target Revenue Growth Revenue Guidance Target Gross Margin APAC EMEA Americas Targeting Phase 3.2 production Expected >20% Y/Y revenue growth Anticipate 50% Y/Y revenue in Q4 2025. for 2025. growth for 2025. Progress towards R&D new Emphasis on securing new strategi
Slide 18: Appendix
e Lot J microvast APPENDIX
Slide 19: Non-GAAP Reconciliations
Non-GAAP Reconciliations ($ in thousands) Twelve-Months Ended Dec. 31 2024 2023 Revenues 379,801 306,617 Cost of revenues (260,249) (249,390) Gross profit (GAAP) 119,552 57,227 Gross margin 31.5% 18.7% Non-cash settled share-based compensation (included in cost of revenues) 3,479 6,091 Adjusted gros