November 14, 2024 (Globalinvestorideas.com Newswire) Globalinvestorideas.com, a go-to platform for big investing ideas for traders, including tech stocks and battery reports on trading for Microvast Holdings, Inc. (NASDAQ: MVST), a technology innovator that designs, develops and manufactures lithium-ion battery solutions.
The stock has investors so charged up that the stock has made the NASDAQ top gainers list in today’s trading with volume of over 1 Billion shares as of this report. The stock closed at 0.7951, up 0.6144, gaining 340.01% and is continuing gains after the close.
Microvast Holdings announced unaudited condensed consolidated financial results for the third quarter ended September 30, 2024,.
Results for Q3 2024
Revenue of $101.4 million, compared to $80.1 million in Q3 2023, an increase of 26.6%
Gross margin increased to 33.2% from gross margin of 22.3% in Q3 2023; Non-GAAP adjusted gross margin increased to 33.9%, up from 24.2% in Q3 2023
Operating expenses of $27.5 million, compared to $44.7 million in Q3 2023; Adjusted operating expenses of $22.0 million, compared to $30.3 million in Q3 2023
Net profit of $13.2 million, compared to net loss of $26.2 million in Q3 2023; Non-GAAP adjusted net profit of $16.8 million, compared to non-GAAP adjusted net loss of $10.3 million in Q3 2023
Net profit per share of $0.04 compared to net loss per share of $0.08 in Q3 2023; Non-GAAP adjusted net profit per share of $0.05, compared to non-GAAP adjusted net loss per share of $0.03 in Q3 2023
Adjusted EBITDA of positive $28.6 million in Q3 2024, compared to Adjusted EBITDA of negative $5.3 million in Q3 2023
Capital expenditures of $30.6 million, compared to $59.9 million in Q3 2023
Cash, cash equivalents, restricted cash and short-term investments of $115.0 million as of September 30, 2024, compared to $93.8 million as of December 31, 2023, and $114.7 million as of September 30, 2023
Recent new release
https://finance.yahoo.com/news/microvast-reports-third-quarter-2024-220000533.html
Research more mining and battery stocks with Investorideas.com free stock directory
https://www.investorideas.com/Gold_Stocks/Stocks_List.asp
Disclaimer
Global Investor Ideas is part of the Investorideas.com content umbrella and is owned by Econ Corporate Services Inc. For Investorideas disclosure and disclaimer please visit the site directly
Disclaimer/Disclosure: GlobalInvestorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by GlobalInvestorideas and investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. If we are not the source for content but just a publisher , please contact the source of all content for questions and info. We are not responsible for third party content.