MVST - Microvast Holdings Non-GAAP EPS of -$0.02 revenue of $75M beats by $9.3M
2023-08-07 16:24:59 ET
- Microvast Holdings press release ( NASDAQ: MVST ): Q2 Non-GAAP EPS of -$0.02.
- Revenue of $75M (+16.4% Y/Y) beats by $9.3M .
- Achieved record backlog of $675.9 million, up 541.9% year over year
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2023 Outlook
- The Company expects to add to its record backlog of $675.9 million, with continued growth in orders and backlog for the rest of the year
- For Q3 2023, the Company expects revenue to be in the range of $72 million to $80 million and $348 million to $368 million for the full year 2023
- Continued ramp-up of deliveries to customers of 53.5Ah cells from Huzhou, China to meet strong demand; trial production in Clarksville, Tennessee remains on track for Q4
- Capital expenditures for the full year are anticipated to be in the range of $180.0 million to $210.0 million
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Microvast Holdings Non-GAAP EPS of -$0.02, revenue of $75M beats by $9.3M