Microvast Holdings, Inc. · NASDAQ:MVST
Microvast — Q2 2024 Earnings Presentation
14 slides from Microvast's earnings presentation, Aug 8, 2024
Slide 1: Q2 2024
e Lt microvast* Q2 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: Q2 2024 Overview
Q2 2024 Overview Record Second Quarter $84M Q2 Revenue 32.5% Q2 Gross Margin EMEA Revenues Gross 12% increase Y/Y Profit Revenue Adj. Gross $27M 137% increase Y/Y $47M 401% increase Y/Y Margin +17% points Y/Y Continued Focus – U.S. consolidation, Clarksville financing, operational efficiency, contin
Slide 4: Q2 2024 Highlights
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Slide 5: Robust Q2 Revenue Growth
Robust Q2 Revenue Growth Expanding Commercial Vehicle Reach Successes Challenges Q2 2024 Key Stats Debut in the European electric Decelerated roll-out of light commercial boat market through strategic partnership. vehicle platforms in European market. $84M $279M Delays in CV customer deliverie
Slide 6: Business Developments
Business Developments Growing New Markets Korean OEM EMEA Leading Bus OEM OEM Confidential Confidential Vehicle e-Bus Articulated e-Bus e-Boat Battery HpCO-53.5Ah MpCO 48Ah HpCO-53.5Ah Type Gen 4 MV-B & C pack Gen 4 MV-B & C pack MV-I pack Orders received, expected up Prototype & first orders receiv
Slide 7: Q2 2024 Financials
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Slide 8: Q2 2024 P&L
Q2 2024 P&L ($ in thousands) Three-Months Ended June 30 Six-Months Ended June 30 GAAP Income Statement 2023 2024 Y/Y (%) 2023 2024 Y/Y (%) Revenue 74,953 83,675 12% 121,926 165,026 35% Cost of revenues (63,492) (56,480) -11% (105,607) (120,606) 14% Gross Profit 11,461 27,195 137% 16,319 44,420 172%
Slide 9: Q2 2024 Adjusted Financials – Non-GAAP
Q2 2024 Adjusted Financials – Non-GAAP ($ in thousands) Three-Months Ended June 30 Six-Months Ended June 30 Cost of Sales Adjustments 2023 2024 2023 2024 Three-Months Ended June 30 Six-Months Ended June 30 Revenue 74,953 83,675 121,926 165,026 2023 2024 2023 2024 Adjusted Cost of sales (non-GAAP) (6
Slide 10: Q2 2024 Revenue by Region
Q2 2024 Revenue by Region ($ in thousands) Three-Months Ended June 30 Six-Months Ended June 30 2024 2024 APAC (Ex. APAC (Ex. USA, 2% China), 3% USA, 2% China), 16% EMEA, 46% EMEA, 55% China, 40% China, 36% Three-Months Ended June 30 Six-Months Ended June 30 Revenue by region Revenue by region 2023 2
Slide 11: Outlook
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Slide 12: Q3 2024 Outlook
Q3 2024 Outlook 6-12% $85-90M 25% Anticipated Q3 Revenue Growth Y/Y Q3 Revenue Guidance Targeted Gross Margin APAC EMEA Americas Huzhou facility delivering new Q3 Revenue anticipated to grow Continued focus on financing 21Ah cells to customers. >100% Y/Y solutions to complete Clarksville and securin
Slide 13: New Battery Technology
New Battery Technology LFP-565Ah LFP Batteries: The Ideal Solution for Energy Storage Systems The newest product line in our extensive battery portfolio, the 565Ah LFP cell provides a host of specifications designed to meet the needs of renewable energy customers: • Lower Cost: LFP batteries are sig
Slide 14: ME6 Energy Storage System
ME6 Energy Storage System Built to Last, Power When You Need It Our new LFP-based ME6 energy storage solution offers a compelling combination of benefits, including: • Extra Long Life: Exceptional cycle life exceeding 10,000 cycles, up to 30-year lifespan with Microvast’s new overhaulable battery de