Microvast Holdings Inc (MVST) financials
Microvast revenue and earnings by year
Microvast's revenue was $428 million in the fiscal year to December 31, 2025, up 12.6% from the year before. Net income was -$29.2 million, -6.8% of revenue. Since the fiscal year to December 31, 2018, revenue has grown 13.7% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 8 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 428 | 380 | 307 | 204 | 152 | 108 | 76 | 174 |
| Revenue growth | 12.6% | 23.9% | 49.9% | 34.6% | 41.3% | 40.7% | -56.1% | — |
| Gross profit | 122 | 120 | 57 | 9 | -43 | 17 | -0 | 21 |
| Gross margin | 28.6% | 31.5% | 18.7% | 4.4% | -28.1% | 15.9% | -0.3% | 12.0% |
| Operating income | 7 | -116 | -107 | -160 | -194 | -29 | -54 | -50 |
| Operating margin | 1.6% | -30.6% | -34.8% | -78.2% | -127.7% | -27.1% | -70.5% | -28.5% |
| Net income | -29 | -195 | -106 | -158 | -206 | -50 | -58 | -55 |
| Net margin | -6.8% | -51.5% | -34.7% | -77.4% | -135.9% | -46.1% | -75.3% | -31.5% |
| Diluted EPS | -$0.09 | -$0.61 | -$0.34 | -$0.52 | -$1.26 | — | — | — |
| Free cash flow | 60 | -15 | -260 | -205 | -133 | -3 | -7 | -35 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open MVST in Markets.
See also: MVST valuation and P/E history · MVST returns
No forecast, no recommendation. This page describes Microvast Holdings Inc from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.