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Benzinga
Benzinga
Business
Akanksha Bakshi

Microvast Shares Pop On FY21 Revenue Outlook Confirmation

Microvast
  • Microvast Holdings Inc (NASDAQ:MVST) confirms that its revenue performance FY21 will be within the announced guidance of $145 million - $155 million (consensus $146.68 million), representing a 42% year-over-year growth at the midpoint of the range.
  • "We are pleased to close out 2021 with a strong revenue performance in the fourth quarter and a promising backlog heading into 2022," said CEO Yang Wu.
  • While announcing its Q3 results in November, the company said it expects FY21 total capital expenditures of $120 million - $150 million.
  • Microvast will report its Q4 and FY21 results after the market closes on Tuesday, March 29, 2022.
  • Price Action: MVST shares are trading higher by 12.4% at $6.23 on the last check Tuesday.
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