Microvast Holdings, Inc. — fact timeline

Eric N. Garcia departed as Chief Accounting Officer at Microvast Holdings, Inc..

“On May 27, 2026, Eric N. Garcia ceased to be employed as Chief Accounting Officer of Microvast Holdings, Inc. (the “Company”).”

Microvast Holdings, Inc. reported the first quarter ended March 31, 2026 results: revenue $60.6 million, net income Net profit of $48.2 million, EPS Net profit per share of $0.15.

“(“Q1 2026”). "Our first quarter results reflect a period of strategic agility as we navigate evolving geopolitical dynamics and a shifting global landscape. While revenue of $60.6 million was impacted by delivery timing and regional headwinds in APAC, our resilient gross margin of 31.6% underscores the value of our technology and our ability to maintain strong”

Microvast Holdings, Inc. updated its 2026 Outlook guidance (reaffirmed).

“While we are navigating evolving tariff structures and shifting regulatory and geopolitical events, we expect continued revenue growth in 2026”

Microvast Holdings, Inc. reported Fourth Quarter ended December 31, 2025 results: revenue Revenue of $96.4 million, net income Net profit of $16.5 million, EPS Net profit per share of $0.05.

“Revenue of $96.4 million, compared to $113.4 million in Q4 2024, a decrease of 15.0% as a result of regulatory shifts in South Korea and delays in customer platform ramp up in EMEA”

Microvast Holdings, Inc. reported Full Year ended December 31, 2025 results: revenue record $427.5 million, net income Net loss of $29.2 million, EPS Net loss per share of $0.09.

“Full Year revenue increased 12.6% year over year to a record $427.5 million • Full Year net loss of $29.2 million, compared to net loss of $195.5 million in 2024; Non-GAAP adjusted net profit of $13.0 million, compared to non-GAAP adjusted net loss of $84.6 million in 2024”

Carl T. "Pat" Schultz was appointed as Chief Financial Officer at Microvast Holdings, Inc..

“On April 3, 2025, the Company made an offer of employment to Carl T. “Pat” Schultz pursuant to which Mr. Schultz will serve as the Company’s Chief Financial Officer”

Fariyal Khanbabi departed as Chief Financial Officer at Microvast Holdings, Inc..

“On April 7, 2025, Fariyal Khanbabi ceased to be employed as Chief Financial Officer of Microvast Holdings, Inc.”

Microvast Holdings, Inc. reported that prior financial statements should not be relied upon.

“On March 16, 2025, the Audit Committee of the Board of Directors of Microvast Holdings, Inc. (the “Company”), after consultation with the Company’s management and its accounting advisors, concluded that the previously reported financial statements as of and for the quarterly periods ended June 30, 2024 and September 30, 2024, should no longer be relied upon due to errors in such financial statements.”

Fariyal Khanbabi was appointed as Principal Accounting Officer at Microvast Holdings, Inc..

“the Company’s Board of Directors appointed Fariyal Khanbabi, the Company’s Chief Financial Officer, to serve as the Company’s Principal Accounting Officer.”

Lu Gao resigned as Chief Accounting Officer at Microvast Holdings, Inc..

“Lu Gao resigned from her role as the Company’s Chief Accounting Officer, effective January 31, 2025”

Fariyal Khanbabi was appointed as Chief Financial Officer at Microvast Holdings, Inc..

“On October 14, 2024, Microvast Holdings, Inc. (the “Company”) entered into an employment offer letter with Fariyal Khanbabi pursuant to which Ms. Khanbabi will serve as the Company’s Chief Financial Officer (the “Offer Letter”).”

Yaser Ali resigned as Chief Financial Officer at Microvast Holdings, Inc..

“On August 19, 2024, Yaser Ali resigned from his role as Chief Financial Officer of Microvast Holdings, Inc. (the “Company”), effective immediately.”

Yanzhuan Zheng resigned as Director at Microvast Holdings, Inc..

“On August 16, 2024, Yanzhuan Zheng submitted his resignation from the Board of Directors of Microvast Holdings, Inc. (the “Company”), effective no later than the Company’s 2024 Annual Meeting of Stockholders.”

Yeelong Tan Balladon resigned as Director at Microvast Holdings, Inc..

“On July 10, 2024, Yeelong Tan Balladon submitted her resignation from the Board of Directors and as a member of the Audit Committee, the Compensation Committee and the Nominating and Corporate Governance Committee of the Company, effective no later than the Company’s 2024 Annual Meeting of Stockholders.”

Stephen A. Vogel resigned as Director at Microvast Holdings, Inc..

“On July 7, 2024, Stephen A. Vogel submitted his resignation from the Board of Directors and as a member of the Compensation Committee and the Nominating and Corporate Governance Committee of Microvast Holdings, Inc. (the “Company”), effective July 7, 2024.”

Yaser Ali was appointed as Chief Financial Officer at Microvast Holdings, Inc..

“On June 28, 2024, Microvast Holdings, Inc. (the “Company”) approved the appointment of Mr. Yaser Ali to Chief Financial Officer of the Company, effective July 5, 2024.”

Microvast Holdings, Inc. reported the period ended March 31, 2024 results: revenue $81.4 million, net income Net loss of $24.8 million, EPS Net loss per share of $0.08. Guidance initiated.

“Chief Financial Officer --- EX-99.1 (EX-99.1) --- Microvast Reports First Quarter 2024 Financial Results • Record company Q1 revenue, increased 73.2% year over year to $81.4 million • Gross margin increased from 10.3% to 21.2%, a 10.9 percentage point improvement year over year STAFFORD, Texas, USA, May 9, 2024 — Microvast Holdings, Inc. (NASDAQ: MVST)”

Nancy Smith was appointed as Interim Chief Financial Officer at Microvast Holdings, Inc..

“On April 29, 2024, the Board of Directors (the “Board”) of the Company approved the appointment of Ms. Nancy Smith, the Company’s Director of Internal Audit, to Interim Chief Financial Officer of the Company, effective immediately.”

Sascha Kelterborn departed as Chief Revenue Officer at Microvast Holdings, Inc..

“Effective as of April 26, 2024, Mr. Sascha Kelterborn, Chief Revenue Officer of Microvast Holdings, Inc. (the “Company”), will no longer continue to serve in the role of the Company’s Chief Revenue Officer.”

Shengxian Wu changed role as Chief Operating Officer at Microvast Holdings, Inc..

“the Board approved the promotion of Dr. Shengxian Wu, President of Microvast Power Systems Co. Ltd, the Company’s wholly-owned subsidiary incorporated in Huzhou, China (“Microvast China”), to Chief Operating Officer of the Company, effective immediately.”

Isida Tushe changed role as President at Microvast Holdings, Inc..

“the Board of Directors (the “Board”) of Microvast Holdings, Inc. (the “Company”) approved the promotion of Ms. Isida Tushe, the Company’s General Counsel and Corporate Secretary, to President of the Company, effective immediately.”

Craig Webster changed role as Chief Financial Officer at Microvast Holdings, Inc..

“On April 10, 2024 (the “Transition Date”), Microvast Holdings, Inc. (the “Company”) and Mr. Craig Webster, Chief Financial Officer, agreed that, effective as of the Transition Date, Mr. Webster would cease to be the Company’s Chief Financial Officer and would transition to the non-executive role of Special Advisor to the Company’s Chief Executive Officer.”

Microvast Holdings, Inc. reported financial results for the fourth quarter and year ended December 31, 2023.

“On April 1, 2024, Microvast Holdings, Inc. issued a press release announcing its consolidated financial results for the fourth quarter and year ended December 31, 2023.”

Microvast Holdings, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5450(a)(1)).

“March 26, 2024, Microvast Holdings, Inc. (the “Company”) received written notice from Nasdaq notifying it tha t the average closing bid price of the Company’s shares of common stock was below the minimum closing bid price of $1 per share during the last 30 consecutive trading days, as required for continued listing on the Nasdaq under Rule 5450(a)(1) of Nasdaq’s listing rules (the “Rules”). The notice has no immediate impact on the listing of the Company’s common stock and warrants, which will continue to be listed and trade on Nasdaq subject to the Company’s continued compliance with the othe”

Zachariah Ward resigned as President at Microvast Holdings, Inc..

“Effective February 5, 2024, Zachariah Ward, the President of Microvast Holdings, Inc. (the "Company"), resigned his employment with the Company.”

Microvast Holdings, Inc. reported Q4 2023 and full year 2023 results: revenue The Company expects revenue to be in the range of $90 million to $100 million in Q4 2023, and $292 million to $302 milli. Guidance raised.

“The Company expects revenue to be in the range of $90 million to $100 million in Q4 2023, and $292 million to $302 million for the full year 2023 compared to $204 million in revenue for full year 2022”

Microvast Holdings, Inc. reported third quarter ended September 30, 2023 results: revenue Revenue of $80.1 million, compared to $38.6 million in Q3 2022, an increase of 107.5%, net income Net loss of $26.2 million, compared to net loss of $36.5 million in Q3 2022, EPS Net loss per share of $0.08 compared to net loss per share of $0.12 in Q3 2022.

“On November 9, 2023, Microvast Holdings, Inc. (the “Company”) issued a press release announcing its unaudited condensed consolidated financial results for the period ended September 30, 2023.”

M. Stanley Whittingham resigned as Director at Microvast Holdings, Inc..

“On October 9, 2023, M. Stanley Whittingham submitted his resignation from the Board of Directors and as a member of the Compensation Committee of Microvast Holdings, Inc. (the “Company”), effective October 9, 2023.”

Microvast Holdings, Inc. shareholders approved Ratification of appointment of Deloitte Touche Tohmatsu Certified Public Accountants LLP as independent registered public accounting firm for fiscal year ending December 31, 2023 at the 2023-09-27 meeting.

“2. The appointment of Deloitte Touche Tohmatsu Certified Public Accountants LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2023 was ratified by the Company’s stockholders, as follows: For Against Abstain 221,590,410 298,197 245,471”

Microvast Holdings, Inc. shareholders approved Election of two Class II directors at the 2023-09-27 meeting.

“1. The two Class II director nominees listed below were each elected to serve a three-year term ending at the Company’s annual meeting of stockholders in 2026. Director Nominee For Withheld Broker Non-Votes Arthur Wong 181,182,545 14,139,584 26,811,949 M. Stanley Whittingham 194,773,864 548,265 26,811,949”

Microvast Holdings, Inc. reported the six months ended June 30, 2023 results: revenue $121.9 million.

“Results for Six Months Ended June 30, 2023 (“YTD 2023”) • Revenue of $121.9 million”

Microvast Holdings, Inc. reported the second quarter ended June 30, 2023 results: revenue $75.0 million. Guidance reaffirmed.

“Microvast Reports Second Quarter 2023 Financial Results • Revenue increased 16.4% year over year to $75.0 million, exceeding guidance”

Zachariah Ward was appointed as President at Microvast Holdings, Inc..

“On August 3, 2023, the Board of Directors (the “Board”) of Microvast Holdings, Inc. (the “Company”) approved the promotion of Zachariah Ward to President of the Company, effective immediately.”

Microvast Holdings, Inc. reported first quarter ended March 31, 2023 results: revenue $47.0 million, net income $29.6 million, EPS $0.10. Guidance raised.

“Microvast Reports First Quarter 2023 Financial Results • Revenue increased 28.1% year over year to $47.0 million, exceeding original guidance • Adjusted gross margin increased to 13.5% • Achieved record backlog of $486.7 million”

Microvast Holdings, Inc. updated its the fourth quarter and year ended December 31, 2022 guidance (raised).

“Microvast Holdings, Inc. issued a press release announcing its consolidated financial results for the fourth quarter and year ended December 31, 2022.”

Yang Wu was appointed as President at Microvast Holdings, Inc..

“Effective immediately, Yang Wu, the Company’s Chief Executive Officer and a member of the Company’s Board of Directors, will also serve as President of the Company.”

Sascha Rene Kelterborn departed as President at Microvast Holdings, Inc..

“On January 10, 2023, Microvast Holdings, Inc. (the “Company”) and Sascha Rene Kelterborn, the Company’s President and Chief Revenue Officer, mutually agreed that, effective immediately, Mr. Kelterborn would step down from his role as President of the Company”

Microvast Holdings, Inc. reported the nine months ended September 30, 2022 results: revenue $139.7 million, net income $124.5 million. Guidance reaffirmed.

“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”

Microvast Holdings, Inc. reported the third quarter ended September 30, 2022 results: revenue $38.6 million, net income $36.5 million. Guidance reaffirmed.

“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.”

Craig Webster resigned as Director at Microvast Holdings, Inc..

“Craig Webster submitted his resignation from the Board, effective July 1, 2022.”

Yeelong Tan Balladon was appointed as Director at Microvast Holdings, Inc..

“appointed Yeelong Tan Balladon as a director of the Company, effective July 1, 2022.”

Craig Webster was appointed as Chief Financial Officer at Microvast Holdings, Inc..

“On April 14, 2022, the Company and Mr. Craig Webster, who currently serves as a member on the Board and Lead Independent Director, agreed that Mr. Webster will join the Company immediately as Chief Financial Officer.”

Yanzhuan (Leon) Zheng resigned as Chief Financial Officer at Microvast Holdings, Inc..

“On April 14, 2022, Microvast Holdings, Inc. (the “Company”) and Mr. Yanzhuan (Leon) Zheng, Chief Financial Officer, agreed that, effective immediately, Mr. Zheng would cease to be the Company’s Chief Financial Officer.”