Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $76.4M | $108M | $152M | $204M | $307M | $380M | $428M |
| Revenue growth | — | — | 40.7% | 41.3% | 34.6% | 49.9% | 23.9% | 12.6% |
| Gross profit | — | -$231K | $17.1M | -$42.7M | $9.07M | $57.2M | $120M | $122M |
| Gross margin | — | -0.3% | 15.9% | -28.1% | 4.4% | 18.7% | 31.5% | 28.6% |
| Operating income | — | -$53.9M | -$29.1M | -$194M | -$160M | -$107M | -$116M | $6.98M |
| Operating margin | — | -70.5% | -27.1% | -127.7% | -78.2% | -34.8% | -30.6% | 1.6% |
| Net income | — | $3.37M | $1.38M | -$206M | -$158M | -$106M | -$195M | -$29.2M |
| Net margin | — | 4.4% | 1.3% | -135.9% | -77.4% | -34.7% | -51.5% | -6.8% |
| EPS (diluted) | — | -$1.17 | -$0.82 | -$1.26 | -$0.52 | -$0.34 | -$0.61 | -$0.09 |
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | — | $13.4M | $15.6M | -$45.0M | -$53.9M | -$75.3M | $2.81M | $75.9M |
| Capital expenditures | — | $20.3M | $18.6M | $87.9M | $151M | $187M | $27.7M | $19.8M |
| Free cash flow | — | -$6.89M | -$3.09M | -$133M | -$205M | -$262M | -$24.9M | $56.1M |
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $17.5K | $140K | $21.5M | $481M | $231M | $44.5M | $73.0M | $105M |
| Total assets | $101K | $280M | $405M | $995M | $985M | $1.10B | $952M | $1.01B |
| Total liabilities | $75.8K | $296K | $389M | $309M | $372M | $533M | $564M | $595M |
| Long-term debt | — | — | — | $0.00 | $29.0M | $43.8M | $41.1M | $13.2M |
| Shareholders' equity | -$267M | -$320M | $5.00M | $687M | $613M | $564M | $388M | $411M |
| Retained earnings | -$792.00 | $3.37M | -$398M | -$632M | -$791M | -$898M | -$1.09B | -$1.12B |
| Shares (wtd avg diluted) | 7.20M | 8.36M | 99.0M | 186M | 303M | 311M | 318M | 325M |
Every figure is extracted from Microvast Holdings, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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