Microvast Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 07, 2023 at 04:10 pm EDT
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Microvast Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 74.95 million compared to USD 64.41 million a year ago. Net loss was USD 26.09 million compared to USD 44.18 million a year ago. Basic loss per share from continuing operations was USD 0.08 compared to USD 0.15 a year ago.
For the six months, sales was USD 121.93 million compared to USD 101.08 million a year ago. Net loss was USD 55.67 million compared to USD 87.96 million a year ago. Basic loss per share from continuing operations was USD 0.18 compared to USD 0.29 a year ago.
Microvast Holdings, Inc. is an advanced battery technology company. It designs, develops and manufactures battery components and systems for electric commercial vehicles and utility-scale energy storage systems (ESS). It has developed proprietary technologies spanning the entire battery system, from basic cell materials (cathode, anode, electrolyte, separator) to cooling systems and software controls. It develops and commercializes a range of cell chemistries, including lithium titanate oxide (LTO), lithium iron phosphate (LFP), nickel manganese cobalt version 1 (NMC-1) and nickel manganese cobalt version 2 (NMC-2). It designs, develops and manufactures battery solutions for electric commercial vehicles, such as light, medium and heavy-duty trucks, buses, trains, mining trucks, marine and port vehicles, automated guided and specialty vehicles. Its products are marketed and sold through three regions: Europe, Middle East and Africa; North and South America, and Asia & Pacific.
MICROVAST HOLDINGS, INC. 
