Microvast (NASDAQ:MVST) Posts Quarterly Earnings Results

Microvast (NASDAQ:MVST) announced its quarterly earnings data on Monday. The company reported ($0.11) earnings per share for the quarter, FiscalAI reports. Microvast had a negative net margin of 28.81% and a positive return on equity of 11.34%. The company had revenue of $96.40 million during the quarter.

Here are the key takeaways from Microvast’s conference call:

• Record revenue of $427.5 million in 2025 (12.6% YoY) with a non-GAAP adjusted net profit of $13.0 million and adjusted EBITDA of $44.7 million, showing clear progress toward profitability.
• Gross margin fell to 28.6% (from 31.5%) largely due to a $32.5 million inventory impairment on specialized ESS components, which reduced gross margin by ~7.6 percentage points.
• Huzhou Phase 3.2 has begun pilot production for the 55Ah cell and is expected to add up to 2 GWh of annual capacity with serial production targeted in 2026, a key growth catalyst.
• Near-term headwinds from evolving regulatory changes in South Korea and customer platform ramp delays in EMEA drove Q4 weakness and caused full-year revenue to come in slightly below guidance.
• All-solid-state battery R&D reached milestones (a 12-layer monolithic stack >200 cycles at 99.97% coulombic efficiency and a 72V monolithic stack at 100 cycles), indicating promising technology but with uncertain commercial timing.

Microvast Stock Performance

Shares of MVST opened at $2.31 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock has a market cap of $758.10 million, a P/E ratio of -4.28 and a beta of 3.39. The business’s 50 day moving average price is $2.58 and its 200-day moving average price is $3.43. Microvast has a 52 week low of $1.09 and a 52 week high of $7.12.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MVST. Weiss Ratings reissued a “sell (d-)” rating on shares of Microvast in a research note on Monday, December 29th. Wall Street Zen lowered shares of Microvast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $3.00.

Insider Activity

In other Microvast news, Director Yixin Pan sold 12,596 shares of Microvast stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $2.76, for a total value of $34,764.96. Following the completion of the transaction, the director directly owned 130,739 shares of the company’s stock, valued at approximately $360,839.64. The trade was a 8.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 44.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Microvast

A number of hedge funds have recently added to or reduced their stakes in MVST. SG Americas Securities LLC lifted its position in Microvast by 13.3% during the third quarter. SG Americas Securities LLC now owns 34,563 shares of the company’s stock valued at $133,000 after purchasing an additional 4,060 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Microvast by 73.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 14,644 shares of the company’s stock valued at $41,000 after acquiring an additional 6,219 shares in the last quarter. AQR Capital Management LLC lifted its position in Microvast by 18.2% during the fourth quarter. AQR Capital Management LLC now owns 57,110 shares of the company’s stock valued at $160,000 after acquiring an additional 8,800 shares during the last quarter. NewEdge Advisors LLC purchased a new position in Microvast during the 3rd quarter worth $38,000. Finally, Verition Fund Management LLC increased its stake in Microvast by 6.4% during the 3rd quarter. Verition Fund Management LLC now owns 165,604 shares of the company’s stock valued at $638,000 after purchasing an additional 9,901 shares in the last quarter. 20.72% of the stock is currently owned by hedge funds and other institutional investors.

About Microvast

Microvast Holdings, Inc, traded on NASDAQ under the symbol MVST, is a global provider of advanced lithium-ion battery solutions for transportation and stationary energy storage applications. The company designs, develops and manufactures a range of battery cells, modules and packs tailored to electric buses, commercial vehicles, passenger cars and grid storage systems. Its technology emphasizes fast charging, long cycle life and high energy density to meet stringent performance requirements in demanding operating environments.

Founded in 2006, Microvast has established a vertically integrated platform that spans research and development, pilot production and full-scale manufacturing.