MVST - Microvast Holdings GAAP EPS of -$1.26 revenue of $151.98M beats by $3.82M

Microvast Holdings press release (NASDAQ:MVST): FY GAAP EPS of -$1.26. Revenue of $151.98M (+41.4% Y/Y) beats by $3.82M. The Company’s backlog on December 31, 2021 was $114.5 million, representing growth of 161% over $43.8 million in backlog at December 31, 2020 and sequential growth of 117% over $52.7 million in backlog at September 30, 2021. Microvast ended FY 2021 with $536.1 million in cash, cash equivalents and restricted cash. 2022 Outlook: Microvast expects revenue for the year ending December 31, 2022 to grow 35% - 45% compared to FY 2021. In addition, the Company expects revenue for the first quarter ending March 31, 2022 to be between $32 million and $34 million, representing growth of approximately 115% - 128% over $14.9 million for the first quarter ended March 31, 2021. The Company expects capital expenditures for FY 2022 to be in the range of $300 to $350 million.

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Microvast Holdings GAAP EPS of -$1.26, revenue of $151.98M beats by $3.82M