MVST - What's Going On With Microvast Stock Tuesday? | Benzinga
Microvast Holdings Inc (NASDAQ:MVST) shares are trading lower Tuesday after the company reported fourth-quarter financial results and issued weak guidance.
What Happened: Microvast said fourth-quarter revenue increased 61.4% year-over-year to $104.58 million, which beat the consensus estimate of $94.43 million, according to Benzinga Pro. The company reported an adjusted loss of 4 cents per share, which beat estimates for a loss of 7 cents per share.
Gross margin increased to 22%, up from 3.4% in the fourth quarter of 2022. Adjusted EBITDA was negative $2.6 million in the fourth quarter. Microvast ended the quarter with $93.8 million in cash, ...