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$MVST 🥶
Microvast Holdings Non-GAAP EPS of -$0.04, revenue of $60.6M misses by $38.42M
Q1 Non-GAAP EPS of -$0.04.
Revenue of $60.6M (-48.0% Y/Y) misses by $38.42M.
Gross margin decreased to 31.6% from 36.9% in Q1 2025. Non-GAAP adjusted gross margin decreased to 31.7% from 37.0% in Q1 2025, primarily due to lower production utilization which reduced fixed cost absorption.
Operating expenses decreased to $27.1 million, compared to $29.2 million in Q1 2025. Non-GAAP adjusted operating expenses were $26.1 million, compared to $28.5 million in Q1 2025.
Net profit of $48.2 million, compared to net profit of $61.8 million in Q1 2025. Non-GAAP adjusted net loss was $14.6 million, compared to non-GAAP adjusted net profit of $19.3 million in Q1 2025.