Microvast Reports Third Quarter 2023 Financial Results lelezard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lelezard.com Daily Mail and Mail on Sunday newspapers.
Revenue increased 107.5% year over year to $80.1 million
Achieved record backlog of $678.7 million, up 382.7% year over year
Gross margin increased from 5.2% to 22.3%, a 17.1 percentage point.
Revenue increased 16.4% year over year to $75.0 million, exceeding guidance
Achieved record backlog of $675.9 million, up 541.9% year over year
Gross margin increased from 7.5% to 15.3%, a 7.8.
HOUSTON (BUSINESS WIRE) Microvast Holdings, Inc. (NASDAQ:MVST) ("Microvast" or the "Company"), a technology innovator that designs, develops and manufactures lithium-ion battery solutions, today