MVST

EX-99.1

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Exhibit 99.1

Microvast Reports Second Quarter 2026 Financial Results

Houston, Texas, USA — Microvast Holdings, Inc. (NASDAQ:MVST) (“Microvast” or the “Company”), a global leader in advanced battery technologies, announced today its unaudited consolidated financial results for the second quarter ended June 30, 2026 (“Q2 2026”).

“In the second quarter, Microvast progressed through a pivotal phase of our global capacity expansion. Delivering $87.3 million in revenue and maintaining a 29.5% gross margin highlights our ability to navigate raw material fluctuations and production utilization cycles. While it impacted our net revenue, returning $2.7 million in IEEPA(1) tariff refunds to our U.S. customers reinforces the strength of our long-term commercial partnerships. With Huzhou Phase 3.2 expected to be on track to deliver up to 2 GWh of next-generation modular capacity and Clarksville pack line localization anticipated to commence operations by year end, we are working to position our business to meet capacity demand across high-barrier commercial and transit markets,” said Yang Wu, Microvast’s Founder, Chairman, and Chief Executive Officer.

Q2 2026 Results

•Revenues of $87.3 million, compared to $91.3 million in Q2 2025, decreasing by $4.1 million, or 4.5%. This decrease was primarily driven by $2.7 million in IEEPA(1) tariff refunds issued to a U.S. customer, recorded as a reduction to revenue in the current period.

•Gross margin decreased to 29.5% from 34.7% in Q2 2025. Non-GAAP adjusted gross margin* decreased to 29.6% from 34.8% in Q2 2025, primarily due to higher raw material prices, and lower production utilization, which reduced fixed cost absorption, slightly offset by recognition of the IEEPA(1) tariff refunds received.

•Operating expenses increased to $27.5 million, compared to $23.7 million in Q2 2025. Non-GAAP adjusted operating expenses* were $26.7 million, compared to $22.9 million in Q2 2025.

•Net loss of $12.0 million, compared to net loss of $106.1 million in Q2 2025, primarily due to a reduction in negative impacts from changes in fair value of warrant liability and convertible loan. Non-GAAP adjusted net loss* was $5.3 million, compared to non-GAAP adjusted net profit* of $16.3 million in Q2 2025.

•Net loss per share of $0.03, compared to net loss per share of $0.33 in Q2 2025. Non-GAAP adjusted net loss per share* was $0.01, compared to non-GAAP adjusted net profit per share* of $0.05 in Q2 2025.

•Non-GAAP adjusted EBITDA* of $3.6 million in Q2 2026, compared to non-GAAP adjusted EBITDA* of $25.9 million in Q2 2025.

•Capital expenditures of $11.3 million, compared to $7.4 million in Q2 2025.

•Cash, cash equivalents and restricted cash of $143.1 million as of June 30, 2026, compared to $169.2 million as of December 31, 2025, and $138.8 million as of June 30, 2025.

Six Months Ended June 30, 2026 Results (“YTD 2026”)

•Revenues of $147.9 million compared to $207.8 million in the six months ended June 30, 2025 (“YTD 2025”), a decrease of 28.8%. This decrease was primarily a result of evolving regulatory and geopolitical dynamics, including in the Indian and Korean markets, demand shift towards lower-cost products in India, OEM platform ramp-up delays, and a $2.7 million IEEPA(1) tariff refund issued to a customer recorded as a reduction to our revenue in the current period.

•Gross margin decreased to 30.4% from 36.0% in YTD 2025. Non-GAAP adjusted gross margin* decreased to 30.4% from 36.0% in YTD 2025, primarily due to higher raw material prices, lower production utilization, which reduced fixed cost absorption, slightly offset by recognition of the IEEPA(1) tariff refunds received.

•Operating expenses increased to $54.6 million, compared to $52.9 million in YTD 2025. Non-GAAP adjusted operating expenses* were $52.8 million, compared to $51.4 million in YTD 2025.

•Net profit of $36.2 million, compared to net loss of $44.3 million in YTD 2025, primarily due to a reduction in negative impacts from changes in fair value of warrant liability and convertible loan. Non-GAAP adjusted net loss* was $19.9 million, compared to non-GAAP adjusted net profit of $35.6 million in YTD 2025.

•Net profit per share of $0.11, compared to net loss per share of $0.14 in YTD 2025. Non-GAAP adjusted net loss per share* was $0.06, compared to non-GAAP adjusted net profit per share* of $0.11 in YTD 2025.

•Non-GAAP adjusted EBITDA* of negative $1.9 million in YTD 2026, compared to non-GAAP adjusted EBITDA* of $54.4 million in YTD 2025.

•Capital expenditures of $15.5 million, compared to $14.0 million in YTD 2025.

*The Company presents its financial results in accordance with generally accepted accounting principles in the United States of America (“GAAP”). However, management believes that using additional non-GAAP measures will enhance the evaluation of the profitability of the Company and its ongoing operations. Please see the tables on p

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Exhibit 99.1

Microvast Reports First Quarter 2026 Financial Results

STAFFORD, Texas, USA — Microvast Holdings, Inc. (NASDAQ:MVST) (“Microvast” or the “Company”), a global leader in advanced battery technologies, announced today its unaudited consolidated financial results for the first quarter ended March 31, 2026 (“Q1 2026”).

"Our first quarter results reflect a period of strategic agility as we navigate evolving geopolitical dynamics and a shifting global landscape. While revenue of $60.6 million was impacted by delivery timing and regional headwinds in APAC, our resilient gross margin of 31.6% underscores the value of our technology and our ability to maintain strong positioning. We are entering a pivotal phase for Microvast with the launch of our 290Ah cell-based battery packs that we expect to integrate into the KAF electric powertrain solution and the ongoing ramp-up of our Huzhou Phase 3.2 expansion. By focusing on high-barrier segments and optimizing our production cycles, we remain committed to protecting our margins and accelerating our path to consistent profitability to drive long-term value for our stockholders," said Yang Wu, Microvast’s Founder, Chairman, and Chief Executive Officer.

Q1 2026 Results

•Revenue of $60.6 million, compared to $116.5 million in Q1 2025, a decrease of 48.0%. This decrease was primarily a result of evolving regulatory and geopolitical dynamics, including in the Indian and Korean markets, demand shift towards lower-cost products in India, and OEM platform ramp-up delays.

•Gross margin decreased to 31.6% from 36.9% in Q1 2025. Non-GAAP adjusted gross margin decreased to 31.7% from 37.0% in Q1 2025, primarily due to lower production utilization, which reduced fixed cost absorption.

•Operating expenses decreased to $27.1 million, compared to $29.2 million in Q1 2025. Non-GAAP adjusted operating expenses were $26.1 million, compared to $28.5 million in Q1 2025.

•Net profit of $48.2 million, compared to net profit of $61.8 million in Q1 2025. Non-GAAP adjusted net loss was $14.6 million, compared to non-GAAP adjusted net profit of $19.3 million in Q1 2025.

•Net profit per share of $0.15, compared to net profit per share of $0.19 in Q1 2025. Non-GAAP adjusted net loss per share was $0.04, compared to non-GAAP adjusted net profit per share of $0.06 in Q1 2025.

•Non-GAAP adjusted EBITDA of negative $5.5 million in Q1 2026, compared to non-GAAP adjusted EBITDA of $28.5 million in Q1 2025.

•Capital expenditures of $4.2 million, compared to $6.6 million in Q1 2025.

•Cash, cash equivalents and restricted cash of $174.0 million as of March 31, 2026, compared to $169.2 million as of December 31, 2025, and $123.0 million as of March 31, 2025.

Please refer to the tables at the end of this press release for reconciliations of gross profit to non-GAAP adjusted gross profit, operating expenses to non-GAAP adjusted operating expenses, net profit to non-GAAP adjusted net profit/(loss), net profit per share to non-GAAP adjusted net profit/(loss) per share, net profit to non-GAAP adjusted EBITDA and gross margin to non-GAAP adjusted gross margin.

2026 Outlook & Forward-Looking Information

•While we continue to navigate evolving tariff structures and shifting geopolitical dynamics, we anticipate a recovery in delivery schedules and a steady revenue ramp through the remainder of 2026 as our production timelines align with accelerating customer demand and next generation production.

•We are targeting and committed to maintaining a resilient gross margin profile by balancing sustained operational efficiencies and premium product positioning against the planned absorption of costs related to our Phase 3.2 expansion and ongoing volatility in global raw material prices.

•Our primary operational catalyst remains the achievement of serial production at the Huzhou Phase 3.2 expansion in 2026. This expansion is expected to bring online up to 2 GWh of modular capacity, specifically designed to meet the requirements of our next-generation cell technologies.

•We remain on track to establish localized pack assembly operations at our Clarksville facility and anticipate first assemblies by year-end. This localization is a key component of our domestic strategy to provide North American commercial vehicle and transit customers with locally integrated battery solutions.

•We continue to seek new customer pipelines that span across EMEA, North America, and APAC. Our focus remains on the heavy industrial and transit markets, where we believe our vertical integration and the newly launched KAF electric powertrain will be able to provide a clear and defensible competitive advantage.

Webcast Information

Company management will host a conference call and webcast on May 11, 2026, at 4:00 p.m. Central Time, to discuss the Company's financial results. The live webcast and accompanying slide presentation will be accessible from the Events &

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Exhibit 99.1

Microvast Reports 2025 Financial Results

•Full Year revenue increased 12.6% year over year to a record $427.5 million

•Full Year net loss of $29.2 million, compared to net loss of $195.5 million in 2024; Non-GAAP adjusted net profit of $13.0 million, compared to non-GAAP adjusted net loss of $84.6 million in 2024

STAFFORD, Texas, USA – Microvast Holdings, Inc. (NASDAQ: MVST) (“Microvast” or the “Company”), a global leader in advanced battery technologies, announced today its consolidated financial results for the fourth quarter and full fiscal year ended December 31, 2025 (“Q4 2025” and “FY 2025,” respectively).

“We achieved record revenue in 2025, capping off a year of significant progress. While our full-year revenue of $427.5 million landed below our guidance due to both evolving regulatory shifts in the Korean market and customer platform ramp up delays, our underlying fundamentals remain strong. We delivered 2025 revenue growth of 12.6%, demonstrating the high value our customers place on Microvast’s technology,” said Yang Wu, Microvast’s Founder, Chairman, and Chief Executive Officer. “The momentum in EMEA is encouraging as we continue into 2026, particularly as previous vehicle platform delays in the region begin to resolve. In APAC, we are focused on the long-term via our Huzhou Phase 3.2 expansion, which is expected to bring additional capacity online and we anticipate achieving serial production in 2026 after the ramp up period. Our core focus remains unchanged, scaling our global footprint and achieving profitability.”

Full Year 2025 Highlights

•Record yearly revenue of $427.5 million, an increase of 12.6% compared to $379.8 million in 2024

•Gross margin decreased to 28.6%, compared to 31.5% in 2024, this change was primarily attributable to a $32.5 million inventory impairment charge related to specialized ESS components, which negatively impacted our gross margin by 7.6 percentage points; Non-GAAP adjusted gross margin decreased to 28.6%, compared to 32.4% in 2024

•Operating expenses of $118.3 million, a decrease of 50.4% compared to $238.3 million in 2024; Non-GAAP adjusted operating expenses of $115.4 million, compared to $210.9 million in 2024

•Net loss of $29.2 million, compared to net loss of $195.5 million in 2024; Non-GAAP adjusted net profit of $13.0 million, compared to non-GAAP adjusted net loss of $84.6 million in 2024

•Net loss per share of $0.09 compared to net loss per share of $0.61 in 2024; Non-GAAP adjusted net profit per share of $0.04, compared to non-GAAP adjusted net loss per share of $0.27 in 2024

•Non-GAAP adjusted EBITDA of positive $44.7 million, compared to Non-GAAP adjusted EBITDA of negative $44.8 million in 2024

•Capital expenditures of $38.7 million, compared to $49.9 million in 2024, driven primarily by investments in manufacturing capacity expansion for our Huzhou Phase 3.2 line

•Cash, cash equivalents, restricted cash of $169.2 million as of December 31, 2025, compared to $109.6 million as of December 31, 2024

Fourth Quarter 2025 Highlights

•Revenue of $96.4 million, compared to $113.4 million in Q4 2024, a decrease of 15.0% as a result of regulatory shifts in South Korea and delays in customer platform ramp up in EMEA

•Gross margin decreased to 1.0%, compared to 36.6% in Q4 2024, this change was primarily attributable to inventory impairment charges, which negatively impacted our gross margin by 30.1 percentage points; Non-GAAP adjusted gross margin decreased to 1.0%, compared to 36.7% in Q4 2024

•Operating expenses of $42.8 million, compared to $43.2 million in Q4 2024; Non-GAAP adjusted operating expenses of $42.0 million, compared to $42.8 million in Q4 2024

•Net profit of $16.5 million, compared to net loss of $82.3 million in Q4 2024; Non-GAAP adjusted net loss of $34.5 million, compared to non-GAAP adjusted net loss of $0.6 million in Q4 2024

•Net profit per share of $0.05, compared to net loss per share of $0.26 in Q4 2024; Non-GAAP adjusted net loss per share of $0.11, compared to non-GAAP adjusted net loss per share of $0.01 in Q4 2024

•Non-GAAP adjusted EBITDA of negative $31.6 million, compared to Non-GAAP adjusted EBITDA of positive $8.6 million in Q4 2024

•Capital expenditures of $7.3 million, compared to $6.1 million in Q4 2024

Please refer to the tables at the end of this press release for reconciliations of gross profit to non-GAAP adjusted gross profit, operating expenses to non-GAAP adjusted operating expenses, net profit/(loss) to non-GAAP adjusted net profit/(loss), net profit/(loss) per share to non-GAAP adjusted net profit/(loss) per share, net profit/(loss) to non-GAAP adjusted EBITDA and gross margin to non-GAAP adjusted gross margin.

2026 Outlook & Forward-Looking Information

•While we are navigating evolving tariff structures and shifting regulatory and geopolitical events, we expect continued revenue growth in 2026

•We are targeting main