Microvast Holdings, Inc.

Listed Company

MVSTCIK 0001760689NasdaqAcceleratedMiscellaneous Electrical Machinery, Equipment & SuppliesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$427.52M

Net Income

$-29.22M

Total Assets

$1.01B

Equity

$410.51M

Shares Out

333.16M

Op. Cash Flow

$75.91M

MVSTW$0.02−94.55% · past yearDBEQ Basic

Daily closing prices

Business

Microvast Holdings, Inc. is a global battery manufacturer specializing in the design, development, and manufacturing of advanced lithium-ion battery solutions for electric commercial vehicles and energy storage systems. The company offers high-performance battery cells, modules, packs, and battery management systems, along with proprietary battery-component technologies including cathode, anode, electrolyte, and separator materials. Microvast operates manufacturing facilities in China, Germany, and the United States, serving commercial vehicle OEMs and energy storage customers across Europe, the Middle East, Africa, North America, and Asia-Pacific.

Summary from 10-K filed 2026-03-16

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	428	380	307	204	152
Cost of revenues	−273	−260	−249	—	—
Energy storage system impairment	−33	0	0	—	—
Gross profit	122	120	57	9	−43
General and administrative expenses	−58	−81	−97	−103	−102
Research and development expenses	−34	−41	−45	−44	−34
Selling and marketing expenses	−22	−23	−24	−23	−21
Impairment loss of long-lived assets	−4	−93	−504,000	2	—
Total operating expenses	−118	−238	−166	−171	−157
Subsidy income	3	3	2	2	6
Income/(loss) from operations	7	−116	−107	−160	−194
Interest income	957,000	742,000	4	3	446,000
Interest expense	−5	−10	−3	−3	—
Changes in fair value of warrant liability and convertible loan	−39	−80	59,000	—	—
Gain on debt restructuring	1	9	0	0	—
Other income (expense), net	244,000	156,000	−713,000	944,000	−62,000
Loss before provision for income tax	−35	−195	−106	−158	−206
Benefit from (provision for) income taxes	5	0	−10,000	−33,000	0
Net loss	−29	−195	−106	−158	−206
Net loss attributable to noncontrolling interests	0	0	−76,000	0	0
Net loss attributable to common stockholders	−29	−195	−106	−158	−206
Basic (in dollars per share)	−0.09	−0.61	−0.34	−0.52	−1.26
Diluted (in dollars per share)	−0.09	−0.61	−0.34	−0.52	−1.26
Weighted average shares used in calculating net loss per share of common stock, basic (in shares)	325	318	311	303	186
Weighted average shares used in calculating net loss per share of common stock, diluted (in shares)	325	318	311	303	186

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	105	73	45	231	481
Restricted cash	64	37	37	71	55
Accounts receivable (net of allowance for credit losses of $4,693 and $5,090 as of December 31, 2025 and 2024, respectively)	156	121	139	119	89
Notes receivable	6	8	24	2	11
Inventories, net	89	143	150	84	53
Prepaid expenses and other current assets	17	27	26	12	17
Assets held for sale	12	20	0	—	—
Total Current Assets	449	428	426	545	707
Restricted cash	0	22,000	6	465,000	0
Property, plant and equipment, net	508	478	621	335	253
Land use rights, net	12	11	12	13	14
Acquired intangible assets, net	2	3	3	2	2
Operating lease right-of-use assets	17	18	20	16	19
Deferred tax assets	5	0	—	—	—
Other non-current assets	12	14	10	74	20
Total Assets	1,005	952	1,097	985	995
Accounts payable	47	65	113	45	40
Notes payable	78	52	63	68	61
Accrued expenses and other current liabilities	123	98	148	—	—
Advance from customers	6	44	43	54	2
Convertible loan measured at fair value	141	0	—	—	—
Short-term bank borrowings	93	71	35	17	13
Income tax payables	99,000	652,000	655,000	658,000	666,000
Warrant liability	15,000	0	—	—	—
Total Current Liabilities	488	330	403	252	176
Long-term bank borrowings	13	41	44	—	—
Long-term bonds payable	42	43	43	44	73
Warrant liability	0	290,000	—	—	—
Share-based compensation liability	98,000	98,000	199,000	131,000	19
Convertible loan measured at fair value	0	105	0	—	—
Operating lease liabilities	14	15	17	14	0
Other non-current liabilities	37	30	25	32	40
Total Liabilities	595	564	533	372	309
Commitments and contingencies (Note 27)	—	—	—	—	—
Common Stock ($0.0001 par value, 750,000,000 shares authorized; 333,473,938 and 324,831,634 shares issued, and 331,786,438 and 323,144,134 shares outstanding as of December 31, 2025 and 2024)	34,000	33,000	32,000	31,000	30,000
Preferred stock ($0.0001 par value, 50,000,000 shares authorized; none issued and outstanding as of December 31, 2025 and 2024)	0	0	—	—	—
Additional paid-in capital	1,544	1,513	1,481	1,416	1,306
Statutory reserves	6	6	6	6	6
Accumulated deficit	−1,122	−1,093	−898	−791	−632
Accumulated other comprehensive loss	−17	−38	−26	−18	7
Total Equity	411	388	564	613	687
Total Liabilities and Equity	1,005	952	1,097	985	995

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loss on disposal of property, plant and equipment	414,000	844,000	2	−14,000	13,000
Interest expense	0	2	0	0	—
Depreciation of property, plant and equipment	32	30	22	20	20
Amortization of land use rights and intangible assets	773,000	775,000	787,000	554,000	738,000
Noncash lease expenses	3	3	3	2	0
Share-based compensation	3	31	65	91	83
Allowance of credit losses	8	4	236,000	—	—
Write-down for obsolete inventories	34	3	4	5	18
Product warranty	17	13	13	14	53
Deferred tax benefit	−5	0	0	—	—
Notes receivable	−27	6	−25	3	10
Accounts receivable	−27	9	−22	−39	−12
Inventories	27	−546,000	−74	−44	−26
Prepaid expenses and other current assets	9	3	−14	4	−11
Amounts due from/to related parties	−3,000	5,000	0	85,000	−84,000
Operating lease right-of-use assets	−475,000	−2	−5	−19	0
Other non-current assets	629,000	−973,000	−547,000	−282,000	−2
Notes payable	24	−10	−4	13	24
Accounts payable	−20	−45	69	7	—
Advance from customers	−38	836,000	−11	53	−971,000
Accrued expenses and other liabilities	21	−16	7	−25	−6
Operating lease liabilities	−2	−2	2	15	0
Other non-current liabilities	5	4	316,000	946,000	2
Net cash generated in operating activities	76	3	−75	−54	−45
Purchases of property, plant and equipment	−20	−28	−187	−151	−88
Proceeds on disposal of property, plant and equipment	4	10	2	5,000	0
Purchase of short-term investments	0	0	−6	−25	—
Proceeds from maturity of short-term investments	0	6	26	0	0
Net cash used in investing activities	−16	−12	−166	−176	−88
Proceeds from bank borrowings	86	102	48	59	39
Repayment of bonds payable	−1	0	−692,000	−29	0
Repayment of bank borrowings	−96	−66	−14	−24	−38
Convertible loan	0	25	0	0	8
Payment for debt issuance costs	0	−525,000	0	0	—
Proceeds from sale of common stocks	29	0	0	—	—
Payment for equity issuance costs	−809,000	0	0	—	—
Deferred payment related to purchases of property, plant and equipment	−19	−22	0	0	—
Net cash (used in)/ provided by financing activities	−3	38	33	5	625
Effect of exchange rate changes	2	−7	−7	−9	3
Increase/ (decrease) in cash, cash equivalents and restricted cash	60	21	−214	−233	495
Interest paid	6	7	4	5	3
Income tax paid	2	0	0	0	0
Payable for purchase of property, plant and equipment	30	46	96	29	—
Notes receivable in exchange for property, plant and equipment	30	9	3	—	—

Filings

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Frequently asked questions

What is Microvast Holdings, Inc.'s CIK number?

Microvast Holdings, Inc.'s SEC CIK number is 0001760689 (1760689). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Microvast Holdings, Inc.'s SEC filings?

All of Microvast Holdings, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Microvast Holdings, Inc. last report earnings?

Microvast Holdings, Inc. (MVST) most recently filed an earnings 8-K with the SEC on May 11, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001628280-26-033601). This is Microvast Holdings, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Microvast Holdings, Inc.'s most recent earnings 8-K?

Microvast Holdings, Inc.'s latest earnings 8-K (Item 2.02) was filed May 11, 2026 under accession 0001628280-26-033601. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Microvast Holdings, Inc.'s latest earnings 8-K →
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