MICROVAST HOLDINGS Reports FY2023 Q2 Earnings Results for June 30, 2023
August 18, 2023
🌥️Earnings Overview
Microvast Holdings ($NASDAQ:MVST) reported its earnings results for the second quarter of fiscal 2023, ending June 30 2023, on August 8 2023. The company’s total revenue for the period was USD 75.0 million, showing a 16.4% year-over-year increase. In addition, they reported a net income of -26.1 million, which was an improvement from the -44.2 million reported in the year prior.
Share Price
On Tuesday, MICROVAST HOLDINGS reported its FY2023 Q2 earnings results for June 30, 2023. The stock opened at $2.6 and closed at $2.4, down by 2.4% from its prior closing price of $2.5. This decline was a result of the company’s decreased profits and lower revenue expectations for the quarter.
However, they are hopeful that the company can recover in the second half of the fiscal year and regain its growth trajectory. MICROVAST HOLDINGS is committed to delivering increased value to its shareholders and is taking steps to reduce costs and increase efficiency throughout its operations. The company is also exploring new opportunities for growth in order to remain competitive in the industry. Overall, the FY2023 Q2 earnings report from MICROVAST HOLDINGS was not as strong as investors had hoped it would be. However, with the company’s commitment to cost reduction and growth initiatives, investors are hopeful that it will be able to make a full recovery in the near future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Microvast Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 225.34 | -125.91 | -55.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Microvast Holdings. More…
| Operations | Investing | Financing |
| -31.4 | -201.43 | 14.13 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Microvast Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 997.67 | 417.95 | 1.88 |
Key Ratios Snapshot
Some of the financial key ratios for Microvast Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 38.8% | – | -54.7% |
| FCF Margin | ROE | ROA |
| -92.3% | -13.0% | -7.7% |
Analysis
GoodWhale has conducted an analysis of MICROVAST HOLDINGS‘s financials and classified it into our Star Chart. In this chart, MICROVAST HOLDINGS is classified as a ‘cheetah’, which means that it has achieved high revenue or earnings growth but is considered less stable due to lower profitability. From our assessment, MICROVAST HOLDINGS is strong in growth, medium in asset and weak in dividend and profitability. Considering its cashflows and debt, it has an intermediate health score of 6/10, which suggests that it is likely to safely ride out any crisis without the risk of bankruptcy. Therefore, this type of company may be of interest to investors looking for higher returns over a short-term period with the potential for higher risks. Alternatively, investors who are looking for more stability with consistent returns may opt for other star types such as ‘tortoise’ or ‘dolphin’. More…
Peers
Microvast Holdings Inc, a leading manufacturer of lithium-ion batteries for electric vehicles, has been facing stiff competition from its rivals Guangzhou Great Power Energy&Technology Co Ltd, Guangdong Greenway Technology Co Ltd, and Flux Power Holdings Inc. The company has been investing heavily in research and development to maintain its competitive edge.
– Guangzhou Great Power Energy&Technology Co Ltd ($SZSE:300438)
Guangzhou Great Power Energy & Technology Co., Ltd. is a publicly traded company with a market capitalization of $33.74 billion as of 2022. The company has a return on equity of 7.8%. Guangzhou Great Power Energy & Technology Co., Ltd. is engaged in the business of power generation, transmission, and distribution in China. The company also has interests in coal mining, chemical manufacturing, and real estate development.
– Guangdong Greenway Technology Co Ltd ($SHSE:688345)
Guangdong Greenway Technology Co Ltd is a Chinese company that specializes in the development and manufacture of LED products. The company has a market cap of 6.4B as of 2022 and a Return on Equity of 7.05%. Guangdong Greenway Technology Co Ltd is a publicly traded company listed on the Shenzhen Stock Exchange.
– Flux Power Holdings Inc ($NASDAQ:FLUX)
Flux Power Holdings, Inc. designs, develops, manufactures and sells lithium-ion batteries for industrial applications in the United States. It offers a line of advanced lithium-ion batteries, including its LITECUBE high power density battery, LITEPACK light weight battery, and LITEFORCE long life battery. The company sells its products through a network of original equipment manufacturers, original equipment distributors, and industrial equipment dealers.
Summary
Investors considering MICROVAST HOLDINGS may be encouraged by the 16.4% year-over-year rise in total revenue to USD 75.0 million for FY2023 Q2, ended June 30 2023. Moreover, the company reported a net income of USD -26.1 million for the period, a significant improvement from last year’s figure of -44.2 million. While the current financial performance is encouraging, investors should carefully research the company and its competitive landscape before making any investment decisions.
Related Posts
Recent Posts
