Microvast Holdings, Inc.
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $427.5M | $379.8M | $306.6M | $204.5M | $152.0M |
| Gross profit | $122.1M | $119.6M | $57.2M | $9.1M | -$42.7M |
| Operating income | $7.0M | -$116.1M | -$106.7M | -$159.9M | -$194.1M |
| Operating expenses | $118.3M | $238.3M | $165.9M | $170.7M | $157.4M |
| Cost of revenue | — | $260.2M | $249.4M | $195.4M | $194.7M |
| Cash from operations | $75.9M | $2.8M | -$75.3M | -$53.9M | -$45.0M |
| Capital expenditure | $19.8M | $27.7M | $186.8M | $150.9M | $87.9M |
| Free cash flow | $56.1M | -$24.9M | -$262.1M | -$204.8M | -$132.9M |
| Impairments | $4.1M | $93.2M | $504,000 | $1.8M | $2.4M |
| Total assets | $1.0B | $951.9M | $1.1B | $985.0M | $995.3M |
| Total liabilities | $594.9M | $564.0M | $532.5M | $372.0M | $308.6M |
| Total debt | $106.3M | $111.7M | $79.2M | $46.4M | $13.3M |
Shares outstanding 333.2M · Free float 7.0%
Annual filing data through FY ended December 31, 2025; float as of June 27, 2026.