Microvast Holdings, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $427.5M | $379.8M | $306.6M | $204.5M | $152.0M | $107.5M | $76.4M |
| Cost of Revenue | — | $260.2M | $249.4M | $195.4M | $194.7M | $90.4M | $76.7M |
| Gross Profit | $122.1M | $119.6M | $57.2M | $9.1M | $-42.7M | $17.1M | $-231.0K |
| Gross Margin | 28.6% | 31.5% | 18.7% | 4.4% | -28.1% | 15.9% | -0.3% |
| Operating Expenses | |||||||
| Research & Development | $34.1M | $41.1M | $45.0M | $43.5M | $34.4M | $16.6M | $26.0M |
| SG&A Expense | $57.8M | $81.5M | $96.8M | $102.8M | $101.6M | $18.8M | $15.2M |
| Operating Income | $7.0M | $-116.1M | $-106.7M | $-159.9M | $-194.1M | $-29.1M | $-53.9M |
| Operating Margin | 1.6% | -30.6% | -34.8% | -78.2% | -127.7% | -27.1% | -70.5% |
| Interest Expense | $1.6M | $1.4M | $2.6M | $3.3M | $5.4M | $5.7M | $6.4M |
| Pretax Income | $-34.5M | $-195.5M | $-106.4M | $-158.2M | $-206.5M | $-33.6M | $-59.5M |
| Income Tax Expense | $-5.3M | $0 | $10.0K | $33.0K | $0 | $1.0K | $189.0K |
| Net Income | $-29.2M | $-195.5M | $-106.3M | $-158.2M | $-206.5M | $-2.4M | $3.4M |
| Net Margin | -6.8% | -51.5% | -34.7% | -77.4% | -135.9% | -2.3% | 4.4% |
| EPS (Basic) | $-0.09 | $-0.61 | $-0.34 | $-0.52 | $-1.26 | $-0.82 | $-0.01 |
| EPS (Diluted) | $-0.09 | $-0.61 | $-0.34 | $-0.52 | $-1.26 | $-0.82 | $-0.01 |
| Shares Outstanding (Basic) | 324.7M | 318.5M | 310.9M | 303.3M | 185.9M | 99.0M | — |
| Shares Outstanding (Diluted) | 324.7M | 318.5M | 310.9M | 303.3M | 185.9M | 99.0M | 95.6M |
| Dividends Per Share | — | — | — | — | — | — | — |