Welcome to our dedicated page for Microvast Holdings SEC filings (Ticker: MVST), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Microvast Holdings, Inc. filings document the public reporting of an operating battery-technology company with Nasdaq-listed common stock and redeemable warrants. Recent Form 8-K reports cover operating results, financial presentations, material definitive agreements, executive officer changes, and stockholder-vote results for MVST.
Proxy materials describe annual-meeting matters such as director elections, auditor ratification, board structure, and shareholder voting mechanics. Capital-structure disclosures include common stock, warrants, and an at-the-market equity sales agreement, while earnings-related filings furnish consolidated results for Microvast's battery systems business.
Microvast Holdings, Inc. Chief Technology Officer Mattis Wenjuan reported an open-market sale of 48,346 shares of common stock at $1.32 per share. According to the footnote, these shares were sold solely to cover tax withholding obligations tied to the settlement of restricted and performance stock units under the company’s 2021 Equity Incentive Plan. After this transaction, Wenjuan directly holds 932,678 shares of Microvast common stock.
Microvast Holdings reported Q1 2026 financial results showing a sharp revenue decline and weaker profitability. Revenue was $60.6 million, down 48.0% from $116.5 million a year earlier, mainly due to regulatory and geopolitical pressures and delayed OEM ramps. Gross margin slipped to 31.6% from 36.9% as lower production utilization reduced fixed cost absorption.
GAAP net profit was $48.2 million, driven largely by a $63.8 million gain from changes in fair value of warrant liability and a convertible loan, but non-GAAP adjusted results showed a net loss of $14.6 million and adjusted EBITDA of negative $5.5 million versus positive $28.5 million in Q1 2025. Operating expenses declined modestly to $27.1 million. Cash, cash equivalents and restricted cash improved to $174.0 million as of March 31, 2026. Management highlights ramping the Huzhou Phase 3.2 expansion, targeting up to 2 GWh of new capacity, and launching 290Ah LFP packs and the KAF electric powertrain while aiming to maintain a “resilient” gross margin profile.
Microvast Holdings, Inc. director Ying Wei received an equity award of 20,000 restricted stock units of common stock as part of the company’s non-employee director compensation policy. This is a grant, not an open-market purchase or sale, and carries no cash exercise price.
Each restricted stock unit represents a contingent right to receive one share of Microvast common stock. The units vest on December 31, 2026, subject to Ying Wei’s continued service on the board through that date. Following this award, Ying Wei directly holds a total of 388,789 shares of Microvast common stock.
Pan Yixin reported acquisition or exercise transactions in this Form 4 filing.
Microvast Holdings, Inc. director Pan Yixin received an equity award in the form of 20,000 shares of common stock on a grant basis. The award represents restricted stock units granted under the company’s non-employee director compensation policy at a price of $0.00 per share. Each restricted stock unit corresponds to one share of common stock and will vest on December 31, 2026, subject to continued board service through that date. Following this grant, Pan Yixin directly holds a total of 188,239 shares of Microvast common stock.
Microvast Holdings, Inc. Chief Operating Officer Wu Shengxian reported multiple equity-based compensation awards. The latest Form 4 shows grants of common stock and cash-settled restricted and performance stock units tied to the value of Microvast common shares.
The filing also reports a prior grant of an employee stock option covering 1,000,000 shares of common stock at an exercise price of $1.2900 per share, vesting in three equal installments starting on November 8, 2025 and expiring on December 5, 2034. Following the most recent grant on March 13, 2026, Wu directly holds 233,799 shares of common stock.
Microvast Holdings, Inc. describes a battery-technology business with advanced lithium-ion products for commercial vehicles and energy storage, but under significant financial strain. The company reported a net loss of $29.2 million in 2025, an accumulated deficit of $1,122.2 million, and acknowledges substantial doubt about its ability to continue as a going concern.
As of December 31, 2025, Microvast had stockholders’ equity of $410.5 million, cash and cash equivalents of $105.0 million, restricted cash of $64.3 million, and bank borrowings of $106.3 million, most due within 12 months, plus other sizable liabilities and purchase and capital commitments. Management plans to rely on operating cash flow, equity sales and refinancing, but notes there is no assurance these plans will be sufficient.
Operationally, Microvast positions itself as a vertically integrated battery manufacturer with proprietary cathode, anode, electrolyte and separator technologies, including LTO, NMC, LFP and early all-solid-state developments. Manufacturing capacity is concentrated in Huzhou, China, with smaller facilities in Germany and Tennessee, where a partially built U.S. plant has been suspended and is affected by mechanics liens and supplier disputes.
Microvast Holdings reported full-year 2025 revenue of $427.5 million, up 12.6% from 2024, with gross margin of 28.6% after a $32.5 million energy storage inventory impairment. The GAAP net loss narrowed sharply to $29.2 million from $195.5 million, while non-GAAP adjusted net profit reached $13.0 million and non-GAAP adjusted EBITDA improved to $44.7 million from a $44.8 million loss in 2024.
In Q4 2025, revenue was $96.4 million, down 15.0% year over year, and gross margin fell to 1.0% due to $29.0 million of impairment charges. Q4 GAAP net profit was $16.5 million, but non-GAAP adjusted net loss was $34.5 million. Cash, cash equivalents and restricted cash rose to $169.2 million as of December 31, 2025, from $109.6 million a year earlier.
Management expects continued revenue growth in 2026, targets maintaining a strong gross margin position, and is focused on achieving serial production at the Huzhou Phase 3.2 expansion and starting pack line operations in Clarksville, Tennessee by year-end, while pursuing high-barrier segments across EMEA, North America and APAC.
Mattis Wenjuan reported acquisition or exercise transactions in this Form 4 filing.
Microvast Holdings, Inc. Chief Technology Officer Mattis Wenjuan received 10,335 shares of common stock as a grant, with no cash paid per share. These shares were earned from performance stock units that vested based on achieving specified performance conditions over a defined performance period.
Following this award, Wenjuan directly holds 981,024 shares of Microvast common stock. The grant was certified by the company’s Compensation Committee on March 13, 2026, underscoring its link to previously established performance goals rather than an open-market purchase.
Microvast Holdings, Inc. reported that Chief Executive Officer and director Wu Yang acquired 93,135 shares of common stock as a compensation grant. The shares were earned from performance stock units that vested after the Compensation Committee certified achievement of the applicable performance conditions on March 13, 2026.
Following this award, Wu Yang directly holds 84,111,752 shares of Microvast common stock. The transaction was recorded at a price of $0.00 per share, reflecting that this was an incentive equity grant rather than an open‑market purchase.