Microvast Holdings, Inc.

Annual Trend FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Revenues $76.4m $107.5m $152.0m $204.5m $306.6m $379.8m $427.5m
Cost of revenues ($76.7m) ($90.4m) ($194.7m) ($195.4m) ($249.4m) ($260.2m) ($272.9m)
Gross profit ($231k) $17.1m ($42.7m) $9.1m $57.2m $119.6m $122.1m
Total operating expenses ($56.9m) ($49.2m) ($157.4m) ($170.7m) ($165.9m) ($238.3m) ($118.3m)
Energy storage system impairment $0 $0 ($32.5m)
Impairment loss of long-lived assets $1.8m $504k $93.2m ($4.1m)
Subsidy income $3.2m $3.0m $6.1m $1.7m $2.0m $2.7m $3.1m
Income/(loss) from operations ($779k) ($922k) ($194.1m) ($159.9m) ($106.7m) ($116.1m) $7.0m
Interest income $884k $571k $446k $3.2m $3.6m $742k $957k
Changes in fair value of warrant liability and convertible loan $979k $59k ($80.0m) ($39.1m)
Gain on debt restructuring $0 $0 $9.4m $1.3m
Loss before provision for income tax ($59.5m) ($33.6m) ($206.5m) ($158.2m) ($106.4m) ($195.5m) ($34.5m)
Benefit from (provision for) income taxes ($895k) ($367k) $0 ($33k) ($10k) $0 $5.3m
Net loss $3.4m ($33.6m) ($206.5m) ($158.2m) ($106.4m) ($195.5m) ($29.2m)
Net loss attributable to noncontrolling interests $0 $0 ($76k) $0 $0
Net loss attributable to common stockholders $3.4m $1.4m ($206.5m) ($158.2m) ($106.3m) ($195.5m) ($29.2m)
Basic (in dollars per share) ($0.07) ($0.82) ($1.26) ($0.52) ($0.34) ($0.61) ($0.09)
Diluted (in dollars per share) ($0.07) ($0.82) ($1.26) ($0.52) ($0.34) ($0.61) ($0.09)
Weighted average shares used in calculating net loss per share of common stock, basic (in shares) ($0) ($0) ($1) ($1) ($0) ($1) ($0)
Weighted average shares used in calculating net loss per share of common stock, diluted (in shares) ($0) ($0) ($1) ($1) ($0) ($1) ($0)
General and administrative expenses ($15.2m) ($18.8m) ($101.6m) ($104.6m) ($97.3m) ($81.5m) ($57.8m)
Research and development expenses ($26.0m) ($16.6m) ($34.4m) ($43.5m) ($45.0m) ($41.1m) ($34.1m)
Selling and marketing expenses ($15.7m) ($13.8m) ($21.4m) ($22.6m) ($23.6m) ($22.6m) ($22.2m)
Interest expense ($6.4m) ($5.7m) ($5.4m) ($3.3m) ($2.6m) ($9.7m) ($4.9m)
Other income (expense), net ($145k) $650k ($62k) $944k ($713k) $156k $244k