Microvast (MVST) Stock Tumbles 5% as Q1 Revenue Plunges 48% Below Expectations
First-quarter 2026 revenue at Microvast declined 48% versus prior year to $60.6 million, falling short of the $99 million analyst projectionLoss per share of $0.04 exceeded the anticipated $0.05 loss; adjusted EBITDA reversed to negative $5.5 millionRevenue from the United States plummeted 96% to merely $234,000; Asia-Pacific region declined 66%; European sales decreased 28%After-hours trading saw MVST shares fall 5.16% to $2.09, marking a 55% decline over the prior six-month periodMicrovast introduced its KAF electric powertrain designed for school buses and concluded the quarter holding $174 million in cash reserves Microvast (MVST) delivered disappointing first-quarter 2026 results, reporting revenue of $60.6 million — a 48% year-over-year decline that significantly underperformed the sole analyst‘s $99 million estimate. The company’s shares retreated 5.16% in extended trading, settling at $2.09. Microvast Holdings, Inc., MVST The per-share loss registered at $0.04, worse than the projected $0.05 loss. Adjusted EBITDA experienced a dramatic reversal, moving from positive $28.5 million during the first quarter of 2025 to negative $5.5 million in the current period. Shipment volume essentially halved, dropping from 536 MWh in the year-ago quarter to 274 MWh in Q1 2026. This steep volume reduction significantly impacted profitability, although gross margin performance proved more resilient than anticipated at 31.6%,