Microvast Holdings (MVST) Q2 2023 Earnings Call Transcript

For the period ending June 30, 2023

August 7, 2023 5:00 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Thank you for standing by. This is the conference operator. We welcome you to Microvast's Second Quarter 2023 Earnings Call. As a reminder, all participants are in a listen-only-mode and the conference is being recorded. [Operator Instructions] I would now like to turn the conference over to Rodney Worthen, Microvast’s Director of Investor Relations. Please go ahead.

Rodney Worthen

Thank you, operator, and thank you, everyone, for joining us today. Joining me on today’s call are Mr. Yang Wu, Founder, Chairman, President and CEO; Mr. Sascha Kelterborn, Chief Revenue Officer; and Mr. Craig Webster, Chief Financial Officer.

Ahead of this call, Microvast issued its second quarter 2023 earnings press release, which can be found on the Investor Relations section of the company’s website at ir.microvast.com. In addition, we have posted a slide presentation to accompany management’s prepared remarks.

As a reminder, please note that we will be making forward-looking statements on this call. These statements are based on current expectations and assumptions and reflect our views only as of today. They should not be relied upon as representative of views for subsequent dates, and we take – undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. These statements are subject to a variety of risks and uncertainties that could cause these actual results to differ materially from expectations. For a further discussion of the material risks and other important factors that could affect our financial results, please refer to our filings with the SEC, including our annual reports on Form 10-K filed on March 16, 2023, and the 10-Q filed earlier today.

In addition, during today’s call, we may discuss non-GAAP financial measures, including adjusted gross profit, adjusted net loss and adjusted EBITDA, which we believe are useful as supplemental measures of Microvast’s performance. These non-GAAP measures should be considered in addition to and not as a substitute for or in isolation from GAAP results. These non-GAAP measurements have been reconciled to their most comparable GAAP metric and the tables included at the end of our press release. A webcast replay of this call will also be available on the Investor Relations section of our company website.