Microvast Holdings, Inc. · NASDAQ:MVST
Microvast — Q2 2026 Earnings Presentation
15 slides from Microvast's earnings presentation, Aug 10, 2026
Slide 1: Microvast Q2 2026
oe Le J microvast@ Q2 2026
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking (35) risks associated with maintaining and expanding our international operations, including unfavorable and unce
Slide 3: Q2 2026 Overview
Q2 2026 Overview Revenue Gross Margin Gross Profit Adj. EBITDA $87.3M 29.5% $25.8M $3.6M Q2 Revenue Q2 Gross Profit & Gross Margin $91.3 $35 $31.7 100% $87.3 $83.7 $75.0 $30 $27.2 $25.8 80% $64.4 $25 MILLIONS USD MILLIONS USD 60% 34.7% 29.5% $20 32.5% $15 $11.5 40% 15.3% $10 7.5% $4.8 20% $5 $0 0% 2
Slide 4: Q2 2026 P&L
Q2 2026 P&L ($ in thousands) Revenue vs. Prior Year Period Three-Months Ended June Six-Months Ended June GAAP Income Statement 30 30 § Revenue decreased 4.5% year-over-year (“Y/Y”), primarily driven by a $2.7 million tariff refund issued to a U.S. customer 2026 2025 2026 2025 recorded as a reduction
Slide 5: Q2 2026 Revenue by Region
Q2 2026 Revenue by Region ($ in thousands) Three-Months Ended June 30 Six-Months Ended June 30 2026 2025 2026 2025 70% 61% 70% 70% 65% 70% 60% 60% 52% 60% 60% 43% 47% 48% 50% 41% 50% 50% 50% 40% 40% 40% 36% 40% 30% 30% 30% 30% 20% 20% 20% 20% 10% 10% 5% 10% 10% 5% -2% -1% 0% 0% 0% 0% APAC Europe USA
Slide 6: Cash Flow Statement
Cash Flow Statement ($ in thousands) Condensed & Consolidated Cash Flow Six-Months Operating Cash Flow Ended June 30 2026 § Net cash used in our operating activities was $33.3 million for the six GAAP net profit 36,223 months ended June 30, 2026, a decrease of $77.6 million compared to $44.3 million
Slide 7: Updates & Long-Term Strategy
U P DAT E S & LO N G -T E R M S T R AT E G Y
Slide 8: Phase 3.2 Update
Phase 3.2 Update Capacity Expansion ü Installation and commissioning of the production equipment is completed, with production capacity ramping up. Ø Expected to provide up to an additional 2GWh of capacity annually. Ø Anticipated capability of producing both current and upcoming cells such as our 4
Slide 9: All-Solid-State Battery Update
All-Solid-State Battery Update Internally Series-Connected Bipolar Architecture 17-layer monolithic stack reaching ~72V, with no liquid electrolyte § Microvast has fabricated and cycled an early 17-layer all-solid-state bipolar prototype with an integrated stack voltage reaching approximately 72 V.
Slide 10: All-Solid-State Battery Cell: Thermal Abuse Evaluation
All-Solid-State Battery Cell Thermal Abuse Evaluation Controlled hotbox test to 200°C: no visible ignition or smoke observed in this test. § The prototype cell was heated stepwise from room temperature to 200°C in a controlled hotbox evaluation. § Near the final high-temperature stage, cell voltage
Slide 11: Silicon-Sulfur Solid-State Battery
Silicon-Sulfur Solid-State Battery Early High-capacity R&D Prototype: § Microvast is exploring an all-solid-state silicon-sulfur chemistry pairing a sulfur-based cathode with a pre-lithiated silicon-based anode. § In early laboratory testing, the cell delivered a specific capacity of 1,134 mAh g⁻¹ a
Slide 12: Long-Term Strategy
Long-Term Strategy Our Strategic Focus Expected Huzhou Phase 3.2 production Accelerate the Path to Profitability capacity ramp up in 2026. Prioritize a disciplined transition to a cashflow-positive state by optimizing our R&D-to-production cycles and operational execution. Expect R&D progress on add
Slide 13: Appendix
oe Le J microvast@ APPENDIX
Slide 14: Non-GAAP Reconciliations
Non-GAAP Reconciliations ($ in thousands) Three-Months Ended June 30 Six-Months Ended June 30 2026 2025 2026 2025 Revenues 87,262 91,339 147,874 207,830 Cost of revenues (61,484) (59,616) (102,940) (133,091) Gross profit (GAAP) 25,778 31,723 44,934 74,739 Gross margin 29.5% 34.7% 30.4% 36.0% Non-cas
Slide 15: Non-GAAP Reconciliations
Non-GAAP Reconciliations ($ in thousands) Three-Months Ended June 30 Six-Months Ended June 30 2026 2025 2026 2025 Net (loss)/profit (GAAP) (11,988) (106,058) 36,223 (44,268) Changes in fair value of warrant and convertible loan* 5,837 121,521 (58,001) 78,361 Non-cash settled share-based compensation