Microvast Holdings Inc
microvast.comWhat Do They Do?
Designs, develops, and manufactures battery systems and components for electric commercial vehicle makers and energy-storage customers.
10-K for FY2025, filed Mar 16, 2026Founded in 2006 and headquartered in Stafford, Texas, Microvast Holdings, Inc. (NASDAQ: MVST) is a global leader in advanced specialized…View ↗
We design, develop, and manufacture high-performance battery solutions for light, medium, and heavy-duty trucks, buses, trains, mining…View ↗
As a vertically integrated battery company, Microvast develops and owns proprietary intellectual property and know-how relating to the…View ↗
How Do They Make Money?
Microvast earns most of its revenue from selling lithium-ion batteries; it also markets individual battery components to manufacturers. Customers pay for the products when the sale is completed.
10-K for FY2025, filed Mar 16, 2026
$427.5M
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10-K for FY2025, filed Mar 16, 2026
$427.5M ↗
Who Are Their Customers?
A direct sales force markets Microvast products across regions. Microvast works directly with EV and drivetrain manufacturers, markets energy-storage systems to commercial and industrial customers, and approaches passenger-car and consumer-electronics makers about battery components.
10-K for FY2025, filed Mar 16, 2026Our products are marketed and sold through a direct sales force across three regions: Europe, Middle East and Africa; North and South…View ↗
We directly engage with EV and drivetrain manufacturers to highlight our technology and product benefits. Sales cycles differ by market…View ↗
The target audience for Microvast includes commercial and industrial scale customers. The sales cycle, involving a request for proposal…View ↗
Our promotion of battery components begins with engaging R&D engineers from passenger car OEMs and consumer electronics manufacturers. We…View ↗
Do Revenues Turn Into Profits?
Not on paper. It lost $29.2M in FY2025, but brought in more cash than it spent: $56.1M of free cash flow.
10-K for FY2025, filed Mar 16, 2026
$7MView ↗
10-K for FY2025, filed Mar 16, 2026
−$29.2MView ↗
10-K for FY2025, filed Mar 16, 2026
$56.1MView ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q2 FY2026, filed Aug 10, 2026
−$12MView ↗
- ▼ −89% (Loss)
- vs −$106.1M in Q2 FY2025
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Aug 31, 2026
Nasdaq notifies Microvast it fell below the minimum bid-price requirement
The stock remains listed while Microvast has 180 days to regain compliance.
Sources
8-K, filed Aug 31, 2026
The notice has no immediate impact on the listing of the Common Stock, which will continue to be listed and trade on Nasdaq subject to the…View ↗
Growing. Revenue grew 2.8x in 4 years, from $152M in FY2021 to $427.5M in FY2025, about 30% a year.
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