Microvast Holdings, Inc. · NASDAQ:MVST
Microvast — Q1 2024 Earnings Presentation
12 slides from Microvast's earnings presentation, May 9, 2024
Slide 1: Microvast Q1 2024
eo one microvast” Q1 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: Q1 2024 Overview
Q1 2024 Overview Record First Quarter $81M Q1 Revenue 21.2% Q1 Gross Margin EMEA Revenues APAC (ex. China) 73% increase Y/Y Revenue Revenue Adj. Gross $23M >600% increase Y/Y $29M >180% increase Y/Y Margin +9.1 percentage points Y/Y Quarter Focus – Work towards U.S. financing, operational efficiency
Slide 4: Q1 2024 Highlights
eo one microvast” Q12024 HIGHLIGHTS
Slide 5: Robust Q1 Revenue Growth
Robust Q1 Revenue Growth Expanding Commercial Vehicle Reach Successes Challenges Q1 2024 Key Stats Expanding commercial vehicle Current market sentiment towards clean footprint in the Americas and Europe. tech companies. $81.4M $348M U.S. financing hurdles for our Clarksville Revenue Backlog
Slide 6: Business Developments
Business Developments Growing New Markets U.S. Leading CV OEM Global Leading CV Tier 1 OEM Confidential Confidential Vehicle Speciality Vehicle e-Trailer Fuel Cell Truck Battery HpCO 53.5Ah HpCO-53.5Ah HpCO-53.5Ah Type Gen 4 MV-C pack Gen 4 MV-B/C pack Gen 4 MV-C pack Production underway, volume Fir
Slide 7: Q1 2024 Financials
eo one microvast” Q12024 FINANCIALS
Slide 8: Q1 2024 P&L
Q1 2024 P&L ($ in thousands) Three-Months Ended Mar. 31 GAAP Income Statement 2023 2024 Y/Y (%) Revenue 46,973 81,351 73% Cost of revenues (42,115) (64,126) 52% Gross Profit 4,858 17,225 255% Gross Margin 10.3% 21.2% 105% General and administrative expenses (20,385) (23,794) 17% Research and develop
Slide 9: Q1 2024 Adjusted Financials – Non-GAAP
Q1 2024 Adjusted Financials – Non-GAAP ($ in thousands) Three-Months Ended Mar. 31 Cost of Sales Adjustments 2023 2024 Three-Months Ended Mar. 31 Revenue 46,973 81,351 2023 2024 Adjusted Cost of sales (non-GAAP) (40,611) (62,988) Non-Cash Settled SBC 1,504 1,138 Adjusted gross (loss) / profit (non-G
Slide 10: Q1 2024 Revenue by Region
Q1 2024 Revenue by Region ($ in thousands) Three-Months Ended Mar. 31 2023 2024 USA, 2% APAC (Ex. China), USA, 2% 7% APAC (Ex. China), 29% EMEA, 22% EMEA, 36% Three-Months Ended Mar. 31 Revenue by region 2023 2024 Y/Y % APAC (Ex. China) 3,149 23,294 640% China 32,612 27,192 -17% EMEA 10,185 28,921 1
Slide 11: Outlook
eo one microvast” OUTLOOK
Slide 12: Q2 2024 Outlook
Q2 2024 Outlook 20-30% $90-98M 20-25% Anticipated Q2 Q2 Revenue Guidance Targeted Gross Margin Revenue Growth Y/Y APAC EMEA Americas Huzhou facility delivering 48Ah Q2 Revenue anticipated to grow Remain focused on fulfilling & 53.5Ah cells to customers. more than double Y/Y. planned expansion and gr