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.
MVST Q4 FY2025 Key Financial Metrics
Revenue
$96.4M
Gross Profit
$959.0K
Operating Profit
$-41.2M
Net Profit
$16.5M
Gross Margin
1.0%
Operating Margin
-42.7%
Net Margin
17.2%
YoY Growth
-15.0%
EPS
$0.19
Microvast Holdings, Inc. Q4 FY2025 Financial Summary
Microvast Holdings, Inc. reported revenue of $96.4M (down 15.0% YoY) for Q4 FY2025, with a net profit of $16.5M (up 120.1% YoY) (17.2% margin). Cost of goods sold was $95.4M, operating expenses totaled $42.1M.
Key Financial Metrics
| Total Revenue | $96.4M |
|---|---|
| Net Profit | $16.5M |
| Gross Margin | 1.0% |
| Operating Margin | -42.7% |
| Report Period | Q4 FY2025 |
Revenue Breakdown
Microvast Holdings, Inc. Q4 FY2025 revenue of $96.4M breaks down across 4 segments, led by Europe at $35.1M (36.4% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Europe | $35.1M | 36.4% |
| CN | $32.5M | 33.7% |
| US | $21.5M | 22.4% |
| Other | $7.2M | 7.5% |
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 Europe and CN) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Europe | $35.1M | — | — | — |
| CN | $32.5M | — | — | — |
| US | $21.5M | — | — | — |
| Other | $7.2M | $34.0M | — | — |
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).
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 |