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Microvast Holdings, Inc. (NASDAQ:MVST), a company that has seen its stock surge over 740% in the past year, reported that Carl T. (Pat) Schultz is no longer serving as chief financial officer of the company. The change in executive leadership took effect Tuesday, according to a statement released in a Securities and Exchange Commission filing.
No additional details regarding the circumstances of Schultz’s departure or information about a successor were provided in the filing.
Microvast Holdings is based in Stafford, Texas, and is listed on the NASDAQ Stock Market with a market capitalization of approximately $976 million. The company has demonstrated strong revenue growth of nearly 22% over the last twelve months. This article is based on a press release statement filed with the SEC. For deeper insights into MVST’s financial health and growth prospects, including 12 additional exclusive ProTips, check out the comprehensive research report available on InvestingPro.
In other recent news, Microvast Holdings Inc. announced a record revenue growth for the first quarter of 2025, reaching $116.5 million. This represents a 43% increase compared to the same period last year. The company also reported a GAAP net profit of $61.8 million, a notable improvement from a $24.8 million loss in the previous year. These results highlight a significant financial turnaround for Microvast. While the company’s stock price reacted positively in after-hours trading, the focus remains on the substantial revenue and profit growth. These developments are part of the recent updates investors are considering.
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