---
schema_version: "secwatch.filing_event.v1"
accession: "0001760689-22-000110"
form_type: "8-K"
ticker: "MVST"
cik: "0001760689"
company_name: "Microvast Holdings, Inc."
filed_at: "2022-11-10T23:59:59+00:00"
generated_at: "2026-06-21T23:21:41.289539+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Microvast Q3 revenue up 4.7% to $38.6M; gross margin improves to 5.2% from -97.3%

## Summary
- Net loss narrowed to $36.5M from $116.5M; non-GAAP adj. net loss $17.4M vs $65.1M.
- Backlog grew 166.8% YoY to $140.6M; FY2022 revenue growth guidance reaffirmed at 35-40%.
- Secured $111M in project financing; received $200M DOE grant with GM for separator facility.
- Capital expenditures expected $90-120M for remainder of FY2022 for capacity expansion.

## SEC filing metadata
- accession: 0001760689-22-000110
- form_type: 8-K
- ticker: MVST
- cik: 0001760689
- company_name: Microvast Holdings, Inc.
- filed_at: 2022-11-10T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1760689/000176068922000110/0001760689-22-000110-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1760689/000176068922000110/mvst-20221110.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001760689-22-000110
- JSON: https://secwatch.observer/filing/0001760689-22-000110.json
- Plain text: https://secwatch.observer/filing/0001760689-22-000110.txt

## Key facts
- Earnings Releases
  Microvast Holdings, Inc. reported the nine months ended September 30, 2022 results: revenue $139.7 million, net income $124.5 million. Guidance reaffirmed.
  - Period: the nine months ended September 30, 2022
  - Revenue: $139.7 million
  - Net income: $124.5 million
  - Guidance: reaffirmed
  - Result: reported results
  source text: Microvast generated revenue of $139.7 million for YTD 2022, compared to $85.2 million for the nine months ended September 30, 2021 (“YTD 2021”), an increase of 64.0%. Gross profit was $6.8 million for YTD 2022, compared to a gross loss of $43.9 million for YTD 2021, resulting in a 56.4 percentage point improvement in gross margin to 4.9% for YTD 2022 from negative 51.5% for YTD 2021. Non-GAAP adjusted gross profit was $12.6 million for YTD 2022, compared to non-GAAP adjusted gross loss of $41.6 million for YTD 2021, resulting in a 57.8 percentage point improvement in non-GAAP adjusted gross margin to 9.0% for YTD 2022 from negative 48.8% for YTD 2021. Operating expenses were $133.4 million for YTD 2022 compared to $105.3 million for YTD 2021. The increase in operating expenses was largely due to the increased share-based compensation expense of $16.1 million for YTD 2022 as well as increased headcount and other expenditures to support the Company’s growth initiatives and other expenses
  evidence_url: https://www.sec.gov/Archives/edgar/data/1760689/000176068922000110/0001760689-22-000110-index.htm
- Earnings Releases
  Microvast Holdings, Inc. reported the third quarter ended September 30, 2022 results: revenue $38.6 million, net income $36.5 million. Guidance reaffirmed.
  - Period: the third quarter ended September 30, 2022
  - Revenue: $38.6 million
  - Net income: $36.5 million
  - Guidance: reaffirmed
  - Result: reported results
  source text: Microvast generated revenue of $38.6 million in Q3 2022, compared to $36.9 million for the third quarter ended September 30, 2021 (“Q3 2021”), an increase of 4.7%. Gross profit was $2.0 million in Q3 2022, compared to a gross loss of $35.9 million in Q3 2021, resulting in a 102.5 percentage point improvement in gross margin from negative 97.3% in Q3 2021 to 5.2% in Q3 2022. Non-GAAP adjusted gross profit was $4.0 million in Q3 2022, compared to non-GAAP adjusted gross loss of $33.6 million in Q3 2021, resulting in a 101.3 percentage point improvement in non-GAAP adjusted gross margin from negative 91.1% in Q3 2021 to 10.2% in Q3 2022. Operating expenses were $39.6 million in Q3 2022 compared to $78.0 million in Q3 2021. The change in operating expenses was largely due to share-based compensation expense being $38.7 million lower in Q3 2022 compared to Q3 2021. Net loss was $36.5 million in Q3 2022 compared to net loss of $116.5 million in Q3 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1760689/000176068922000110/0001760689-22-000110-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.