Microvast Holdings, Inc. · NASDAQ:MVST
Microvast — Q2 2026 Earnings Presentation
15 slides from Microvast's earnings presentation, Aug 11, 2026
Slide 1: Microvast Q2 2026
e @,0@ microvast Q2 2026
Slide 2: Disclaimer: Forward-Looking Statements
2 Disclaimer Forward-Looking Statements This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future and management's current expectations, involve c
Slide 3: Q2 2026 Overview
3 Q2 2026 Overview Q2 Revenue Q2 Gross Profit & Gross Margin § Revenue – Variance vs. prior year period was primarily driven by ~$2.7M in customer IEEPA tariff refunds. § Gross Profit – Margins held at 29.5% despite lower volumes, raw material cost pressures, and reduced fixed-cost absorption. Reven
Slide 4: Q2 2026 P&L
4 Q2 2026 P&L ($ in thousands) Revenue vs. Prior Year Period § Revenue decreased 4.5% year-over-year (“Y/Y”), primarily driven by a $2.7 million tariff refund issued to a U.S. customer recorded as a reduction to our revenue in the current period. § Gross margin decreased to 29.5% compared to 34.7% i
Slide 5: Q2 2026 Revenue by Region
5 Q2 2026 Revenue by Region ($ in thousands) Revenue by region Three-Months Ended June 30 2026 2025 Y/Y % APAC 36,606 47,658 -23% Europe 52,389 38,885 35% USA -1,733 4,796 -136% Total 87,262 91,339 -4% Three-Months Ended June 30 Revenue by region Six-Months Ended June 30 2026 2025 Y/Y % APAC 53,748
Slide 6: Cash Flow Statement
6 Cash Flow Statement ($ in thousands) Operating Cash Flow § Net cash used in our operating activities was $33.3 million for the six months ended June 30, 2026, a decrease of $77.6 million compared to $44.3 million generated by operating activities in the same period in 2025. § The changes in our op
Slide 7: Updates & Long-Term Strategy
U P D A T E S & L O N G - T E R M S T R A T E G Y
Slide 8: Phase 3.2 Update: Capacity Expansion
8 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
Slide 9: All-Solid-State Battery Update
9 All-Solid-State Battery Update Internally Series-Connected Bipolar Architecture Figure 2. SEM-EDS cross section. Figure 1. Voltage vs. capacity profile. 34 Figure 3. Voltage vs. retention rate at various cycles. Note: The results presented are preliminary, early-stage R&D prototype data obtained u
Slide 10: All-Solid-State Battery Cell Thermal Abuse Evaluation
10 All-Solid-State Battery Cell Thermal Abuse Evaluation 80℃ 120℃ 150℃ 180℃ 200℃ ① ② ③ ④ ⑤ ⑥ ⑦ ⑧ ⑩⑨ Figure 1. The temperature and voltage curves during the test. Figure 2. Disassembled cell after the test. Note: The results presented are preliminary, early-stage R&D prototype data obtained under lim
Slide 11: Silicon-Sulfur Solid-State Battery
11 Silicon-Sulfur Solid-State Battery Figure 1. Voltage vs. retention rate at various cycles. 55.1 µm 86.3 µm 85.7 µm 86.8 µm 86.5 µm 86.0 µm 55.9 µm 54.6 µm 56.2 µm 55.7 µm 44.9 µm 45.1 µm 44.6 µm 45.9 µm 45.4 µm Anode Figure 2. SEM-EDS cross section. Anode Cathode Charged Discharged 96.5 µm 95.3 µ
Slide 12: Long-Term Strategy
12 Expected Huzhou Phase 3.2 production capacity ramp up in 2026. Expect R&D progress on additional new product launches, including our KAF solution. Anticipate 2026 localization of pack operations in Clarksville, TN. Develop New high-margin market opportunities while prioritizing commercialization
Slide 13: Appendix
e @,0@ microvast APPENDIX
Slide 14: Non-GAAP Reconciliations
14 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-
Slide 15: Non-GAAP Reconciliations
15 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 compensat