Microvast Holdings, Inc.MVSTEarnings & Financial Report
Microvast Holdings, Inc. is a battery technology company headquartered in Stafford, Texas, and publicly traded on the NASDAQ Stock Exchange. It designs, develops and manufactures battery components and systems primarily for electric commercial vehicles and utility-scale energy storage systems (ESS). Microvast has manufacturing facilities in the United States, China, and Germany.
Revenue
$83.7M
Gross Profit
$27.2M
Operating Profit
$-98.7M
Net Profit
$-101.6M
Gross Margin
32.5%
Operating Margin
-118.0%
Net Margin
-121.4%
YoY Growth
11.6%
EPS
$-0.32
Microvast Holdings, Inc. Q2 FY2024 Financial Summary
Microvast Holdings, Inc. reported revenue of $83.7M (up 11.6% YoY) for Q2 FY2024, with a net profit of $-101.6M (down 289.3% YoY) (-121.4% margin). Cost of goods sold was $56.5M, operating expenses totaled $125.9M.
Key Financial Metrics
| Total Revenue | $83.7M |
|---|---|
| Net Profit | $-101.6M |
| Gross Margin | 32.5% |
| Operating Margin | -118.0% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
Microvast Holdings, Inc. Q2 FY2024 revenue of $83.7M breaks down across 3 segments, led by Other at $48.0M (57.4% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Other | $48.0M | 57.4% |
| PRC | $33.3M | 39.8% |
| Other Asia And Pacific Countries | $2.4M | 2.8% |
Microvast Holdings, Inc. Revenue by Segment — Quarterly Trend
Microvast Holdings, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Other and PRC) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Other | $7.2M | $34.0M | — | — |
| Other Asia And Pacific Countries | — | $11.4M | — | — |
Microvast Holdings, Inc. Annual Revenue by Year
Microvast Holdings, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $427.5M).
| Year | Annual Revenue |
|---|---|
| 2025 | $427.5M |
| 2024 | $379.8M |
| 2023 | $306.6M |
| 2022 | $204.5M |
Microvast Holdings, Inc. Quarterly Revenue & Net Profit History
Microvast Holdings, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $96.4M | -15.0% | $16.5M | 17.2% |
| Q3 FY2025 | $123.3M | +21.6% | $-1.5M | -1.2% |
| Q2 FY2025 | $91.3M | +9.2% | $-106.1M | -116.1% |
| Q1 FY2025 | $116.5M | +43.2% | $61.8M | 53.0% |
| Q4 FY2024 | $113.4M | +8.4% | $-82.3M | -72.6% |
| Q3 FY2024 | $101.4M | +26.6% | $13.2M | 13.1% |
| Q2 FY2024 | $83.7M | +11.6% | $-101.6M | -121.4% |
| Q1 FY2024 | $81.4M | +73.2% | $-24.8M | -30.5% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $81.4M | $83.7M | $101.4M | $113.4M | $116.5M | $91.3M | $123.3M | $96.4M |
| YoY Growth | 73.2% | 11.6% | 26.6% | 8.4% | 43.2% | 9.2% | 21.6% | -15.0% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $1.04B | $961.4M | $997.9M | $951.9M | $982.9M | $1.00B | $1.01B | $1.01B |
| Liabilities | $494.5M | $506.5M | $511.8M | $564.0M | $528.7M | $648.6M | $655.5M | $594.9M |
| Equity | $546.1M | $455.0M | $486.1M | $387.9M | $454.2M | $356.1M | $358.1M | $410.5M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $2.0M | $111000 | $-5.4M | $6.1M | $7.2M | $37.2M | $15.2M | $16.4M |