Microvast Holdings 2025 Q2 Earnings Wider Loss Despite Revenue Growth

Microvast Holdings reported mixed fiscal 2025 Q2 earnings on August 11, 2025, with revenue up 9.2% year-over-year to $91.34 million but net losses widening. The company missed profitability expectations and maintained its full-year revenue guidance with a slightly revised gross margin target of 30% to 32%.

Revenue
Microvast Holdings reported total revenue of $91.34 million for Q2 2025, reflecting a 9.2% increase compared to the same quarter in the prior year. The growth was primarily driven by operational efficiency and continued innovation, as highlighted by the company’s leadership.

Earnings/Net Income
The company reported a net loss of $-106.06 million in Q2 2025, a 4.4% increase from the $-101.56 million loss in Q2 2024. On a per-share basis, the loss widened to $0.33 from $0.32. Despite these losses, Microvast set a new record high for Q2 net income over the past five years, a positive but not profit-positive note.

Price Action
Following the earnings report, MVST’s stock edged up 0.33% on the latest trading day, rallied 11.40% over the prior week, and declined 5.61% month-to-date.

Post-Earnings Price Action Review
A strategy of buying Microvast shares after a revenue-positive quarter and holding for 30 days has underperformed significantly over the past three years. The approach yielded a -49.02% return, compared to a 45.70% benchmark return. With a CAGR of -20.72% and an excess return of -94.72%, the strategy delivered substantial losses, despite a maximum drawdown of 0.00%, suggesting a failure to capitalize on potential gains.

CEO Commentary
CEO Yang Wu highlighted Q2 revenue of $91.3 million, driven by a 34.7% gross margin and operational improvements. Wu emphasized Microvast’s progress in all-solid-state battery development and the Huzhou Phase 3.2 expansion. The CEO remains optimistic about long-term profitability and the company’s ability to commercialize advanced technologies at scale.

Guidance
Microvast expects full-year 2025 revenue to range between $450 million and $475 million, a 18% to 25% increase year-over-year. The company is targeting a 30% to 32% gross margin and is expanding production capacity to meet growing global demand.

Additional News
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