Microvast Q1 FY26 revenue drops 48% to $60.61 million; operating loss $7.93 million

Microvast

Microvast

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  • Microvast posted Q1 net profit of USD 48.21 million as revenue fell 48% to USD 60.61 million.
  • Operating results swung to an operating loss of USD 7.93 million as gross margin narrowed 5.3 percentage points to 31.6%.
  • Sales volume dropped 48.9% to 273 MWh, with the decline tied to regulatory and geopolitical dynamics, demand shifting to lower-cost products in India, and OEM-caused platform delays in Europe and APAC.
  • Cash and cash equivalents totaled USD 126.1 million, while management flagged substantial doubt about going concern but said refinancing, equity funding and capex prioritization are expected to alleviate the risk over the next 12 months.


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