Microvast Holdings, Inc. · NASDAQ:MVST
Microvast — Q3 2024 Earnings Presentation
14 slides from Microvast's earnings presentation, Nov 12, 2024
Slide 1: Microvast Q3 2024
eo @,e microvast@ Q3 2024
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements Non-GAAP Financial Measures This communication contains “forward-looking statements” within the meaning of This presentation contains adjusted gross profit, adjusted operating loss and adjusted net loss, the Private Securities Litigation Reform Act of 1995. Such
Slide 3: Q3 2024 Overview
Q3 2024 Overview Key Messages Achieved Profitability in the Quarter: Net Profit Adj. EBITDA $13.2M $29M Executing on 2024 Focus Maturing Business in EMEA & APAC 2024 Core Focus Continues – Our Business Strategy: Innovate: Capture: Expand: Future Focus Significant Market Share Supporting Growth
Slide 4: Q3 2024 Highlights
eo @,e microvast@ Q3 2024 HIGHLIGHTS
Slide 5: Strong Q3 Revenue Growth
Strong Q3 Revenue Growth Expanding Commercial Vehicle Reach Successes Challenges Q3 2024 Key Stats Successful new silicon-based product Growing preference for LFP in India and launch at IAA 2024 in Germany, a premier global mobility exhibition. Thailand as affordability is prioritized. Global
Slide 6: Business Developments
Business Developments High Performance Cells Driving Demand in Heavy Industrials OEM Vehicle Mining and Dump Trucks Construction Commercial Truck Battery HpCO-53.5Ah MpCO-48Ah/HpCO-53.5Ah MpCO-48Ah Type Gen 4 MV-B & C pack Gen 4 MV-B & C pack Gen 4 MV-B & C pack Expected to see revenues in Anticipat
Slide 7: Q3 2024 Financials
eo @,e microvast@ Q3 2024 FINANCIALS
Slide 8: Q3 2024 Financial Overview
Q3 2024 Financial Overview Record Third Quarter – Our Sights are on Sustained Profitability Revenue Gross Profit 40 100% 101.4 33.6 81.4 83.7 27.2 80% MILLIONS USD MILLIONS USD 30 60% 33.2% 32.5% 20 17.2 21.2% 40% 10 20% 0 0% Q1 Q2 Q3 Q1 Q2 Q3 Adjusted EBITDA Net Profit 28.6 13.2 MILLIONS USD MILLIO
Slide 9: Q3 2024 P&L
Q3 2024 P&L ($ in thousands) Three-Months Ended Nine-Months Ended Revenue vs. Prior Year Period GAAP Income Statement Sept. 30 Sept. 30 Revenue rose 27% year-over-year, with EMEA 2024 2023 2024 2023 contributing 59% of quarterly and 51% of nine- Revenue 101,388 80,116 266,414 202,042 month revenue
Slide 10: Q3 2024 Revenue by Region
Q3 2024 Revenue by Region ($ in thousands) Three-Months Ended Sept. 30 Nine-Months Ended Sept. 30 APAC (Ex. 2024 2023 2024 China), 14% 2023 APAC (Ex. APAC (Ex. APAC (Ex. USA, 3% China), 10% USA, 0% USA, 1% China), 23% China), 31% USA, 2% EMEA, EMEA, 24% 19% China, 28% EMEA, China, EMEA, 59% 33% Chin
Slide 11: Cash Flow Statement
Cash Flow Statement ($ in thousands) Nine-Months Net Loss Consolidated Cash Flow Ended Sept. 30 2024 $90M impacted cash flow, but was partially offset by non-cash Net income/(loss) (90,019) adjustments, including $30.3M in SBC and $68.8M from impairments, write downs, and disposals. Operating acti
Slide 12: Outlook
eo @,e microvast@ OUTLOOK
Slide 13: 2024 Outlook
2024 Outlook 15-18% $90-95M 25-30% Anticipated Full Year Revenue Growth Q4 Revenue Guidance Targeted Gross Margin APAC EMEA Americas Targeting increased production Expected >80% Y/Y revenue growth. Exploring financing for Clarksville capacity at Huzhou facility. completion. Progress towards R&D new
Slide 14: Who Are We?
Who Are We? Reinforcing Our Purpose 775+ Patents Granted or Pending Eyes on the future of technology… ME6 - Overhaulable ESS Containers ~2,500 Global Employees Optimized TCO with a robust design allowing for overhauls. Founded in 2006 Increased capacity and stability with Microvast's high-