Microvast Holdings, Inc. reported a record Q2 revenue of $91.3 million, up 9.2% year over year. Gross margin also increased to 34.7%, reflecting a 2.2% improvement from the previous year. The company’s positive adjusted EBITDA was $25.9 million, despite a GAAP net loss of $106.1 million.

For the six months ended June 30, 2025, revenue reached $207.8 million, a 25.9% increase from the same period in 2024. The gross margin improved to 36.0%, up from 26.9% in 2024. The company also achieved a positive non-GAAP adjusted net profit of $35.6 million.

Microvast maintains its revenue growth target of 18% to 25% year over year, with revenue guidance of $450 million to $475 million for 2025. The company is updating its targeted gross margin from 30% to 32% for the full year. Additionally, Microvast plans to expand capacity to meet customer demand and focus on new customer wins.

A webcast to discuss the financial results will be held on August 11, 2025, at 4:00 p.m. Central Time. Microvast is a global leader in advanced battery technologies for electric vehicles and energy storage solutions. The company’s dedication to excellence and innovation has positioned it as a trusted partner in the industry.

Read more at GlobeNewswire: Microvast Reports Second Quarter 2025 Financial Results