Microvast Holdings Inc. (MVST) Financial Statements (2024 and earlier)

Company Profile

Business Address 12603 SOUTHWEST FREEWAY, SUITE 210
STAFFORD, TX 77477
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 369 - Miscellaneous Electrical Machinery, Equipment, and Supplies (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments50,175256,490480,931136140
Cash and cash equivalents44,541231,420480,931136140
Short-term investments 5,63425,070   
Restricted cash and investments37,47770,73255,178  
Receivables138,717119,30411,144  
Inventory, net of allowances, customer advances and progress billings149,74984,25253,424  
Inventory149,74984,25253,424  
Prepaid expense 5,8005,07517,127 70
Other undisclosed current assets43,6889,21488,80222186
Total current assets:425,606545,067706,606158396
Noncurrent Assets
Operating lease, right-of-use asset19,50716,36814,008  
Property, plant and equipment620,667335,140253,057  
Long-term investments and receivables    282,255280,103
Long-term investments    282,255280,103
Intangible assets, net (including goodwill)3,1361,6361,882  
Intangible assets, net (excluding goodwill)3,1361,6361,882  
Restricted cash and investments6,171465   
Other noncurrent assets9,66173,64219,738  
Other undisclosed noncurrent assets11,98412,639   
Total noncurrent assets:671,126439,890288,685282,255280,103
TOTAL ASSETS:1,096,732984,957995,291282,413280,500
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:127,05258,98545,354321269
Interest and dividends payable1,836  
Taxes payable666303 
Accounts payable112,61844,98540,408  
Accrued liabilities14,43414,0002,444  
Other undisclosed accounts payable and accrued liabilities    18269
Deferred revenue43,08754,207   
Debt98,76685,83974,254200 
Other liabilities 14,3128,60810,636  
Due to related parties  22 
Other undisclosed current liabilities120,19344,77045,350103 
Total current liabilities:403,410252,409175,594646269
Noncurrent Liabilities
Liabilities, other than long-term debt42,14746,56058,747221 
Deferred compensation liability, classified19913118,925  
Deferred income tax liabilities    21 
Due to related parties  200 
Other liabilities24,86132,08239,822  
Operating lease, liability17,08714,347   
Other undisclosed noncurrent liabilities86,98573,01174,2524,20427
Total noncurrent liabilities:129,132119,571132,9994,42627
Total liabilities:532,542371,980308,5935,072296
Temporary equity, carrying amount    272,342275,203
Equity
Equity, attributable to parent558,158606,945680,6665,0005,000
Common stock32313011
Additional paid in capital1,481,2411,416,1601,306,0344,0291,633
Accumulated other comprehensive income (loss)(25,614)(18,081)6,701  
Retained earnings (accumulated deficit)(897,501)(791,165)(632,099)9703,366
Other undisclosed equity6,0326,0326,032  
Total equity:564,190612,977686,6985,0005,000
TOTAL LIABILITIES AND EQUITY:1,096,732984,957995,291282,413280,500

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Revenues306,617204,495151,976  
Cost of revenue(249,390)(195,422)(194,719)  
Gross profit:57,2279,073(42,743)  
Operating expenses(165,909)(170,691)(157,448)(922)(351)
Other undisclosed operating income (loss)1,9531,6726,127 (428)
Operating loss:(106,729)(159,946)(194,064)(922)(779)
Nonoperating income (expense)(713)944(62)(1,135)5,041
Other nonoperating income (expense)    (1,135)5,041
Interest and debt expense(2,628)(3,323)(5,411)  
Income (loss) from continuing operations before equity method investments, income taxes:(110,070)(162,325)(199,537)(2,057)4,262
Other undisclosed income (loss) from continuing operations before income taxes3,6684,158(6,946)  
Income (loss) from continuing operations before income taxes:(106,402)(158,167)(206,483)(2,057)4,262
Income tax expense (10)(33) (367)(895)
Other undisclosed loss from continuing operations     
Income (loss) from continuing operations:(106,412)(158,200)(206,483)(2,424)3,367
Income (loss) before gain (loss) on sale of properties:(206,483)(2,424)3,367
Net income (loss):(106,412)(158,200)(206,483)(2,424)3,367
Net income attributable to noncontrolling interest76    
Net income (loss) available to common stockholders, diluted:(106,336)(158,200)(206,483)(2,424)3,367

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Net income (loss):(106,412)(158,200)(206,483)(2,424)3,367
Other comprehensive loss  (182,982)(207,138)  
Other undisclosed comprehensive loss(7,621)    
Comprehensive income (loss):(114,033)(341,182)(413,621)(2,424)3,367
Comprehensive income, net of tax, attributable to noncontrolling interest164    
Other undisclosed comprehensive income, net of tax, attributable to parent  182,982207,138  
Comprehensive income (loss), net of tax, attributable to parent:(113,869)(158,200)(206,483)(2,424)3,367

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

Login to ReadyRatios

 

Have you forgotten your password?

Are you a new user?

Login As
You can log in if you are registered at one of these services: