Microvast Holdings, Inc. Earnings Per Share Disclosure
Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Net loss attributable to common stockholders | $ | (29,218) | $ | (195,457) | $ | (106,336) | |||||||||||
| Weighted average shares outstanding - basic and diluted | 324,689,242 | 318,462,843 | 310,909,379 | ||||||||||||||
| Net loss per common share - basic and diluted | $ | (0.09) | $ | (0.61) | $ | (0.34) | |||||||||||
Year ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Shares issuable upon exercise of stock options | 3,010,685 | 31,767,047 | 35,572,123 | ||||||||||||||
| Shares issuable upon vesting of non-vested shares | 3,764,743 | 2,662,282 | 3,623,777 | ||||||||||||||
| Shares issuable upon exercise of capped non-vested shares | — | 3,733,136 | 10,393,732 | ||||||||||||||
| Shares issuable upon exercise of warrants | 5,500,000 | 31,697,929 | 28,437,000 | ||||||||||||||
| Shares issuable upon vesting of earn-out shares | — | 11,202,179 | 19,999,988 | ||||||||||||||
| Shares issuable that may be subject to cancellation | — | 1,687,500 | 1,687,500 | ||||||||||||||
| Shares issuable upon convert of convertible loan | 51,693,316 | 25,803,279 | — | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 16, 2026 | Showing above |
| 2024 | Mar 31, 2025 | |
| 2023 | Apr 1, 2024 | |
| 2022 | Mar 16, 2023 | |
| 2021 | Mar 29, 2022 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.