Microvast Holdings, Inc.
For the period ended Mar 31, 2026. Filed May 11, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 11, 2026
MVST$0.22-64.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities | ||
| Net profit | $48,211 | $61,790 |
| Adjustments to reconcile net profit to net cash used in operating activities: | ||
| Depreciation of property, plant and equipment | 8,082 | 7,985 |
| Noncash lease expenses | 717 | 666 |
| Share-based compensation | 1,008 | 703 |
| Changes in fair value of warrant liability and convertible loan | (63,838) | (43,160) |
| (Reversal) provision of credit losses | (799) | 1,358 |
| Product warranty | 2,417 | 4,825 |
| Other, net | 1,680 | (102) |
| Changes in operating assets and liabilities: | ||
| Notes receivable | (3,277) | (5,263) |
| Accounts receivable | 33,464 | (14,108) |
| Inventories | (7,000) | 15,783 |
| Prepaid expenses and other current assets | 918 | (2,402) |
| Amounts due from/to related parties | 15 | (5) |
| Operating lease right-of-use assets | (401) | (654) |
| Other non-current assets | 1,754 | (1,388) |
| Notes payable | (27,045) | (4,150) |
| Accounts payable | (1,262) | (8,547) |
| Advance from customers | 980 | 462 |
| Accrued expenses and other liabilities | (16,290) | (6,812) |
| Operating lease liabilities | (255) | (340) |
| Other non-current liabilities | (1,875) | 528 |
| Net cash (used in) generated from operating activities | (22,796) | 7,169 |
| Cash flows from investing activities | ||
| Purchases of property, plant and equipment | (2,855) | (2,346) |
| Proceeds on disposal of property, plant and equipment | 51 | 14 |
| Net cash used in investing activities | (2,804) | (2,332) |
| Cash flows from financing activities | ||
| Proceeds from bank borrowings | 51,721 | 28,187 |
| Repayment of bank borrowings | (20,804) | (13,062) |
| Repayment of bonds payable | — | (1,375) |
| Payment for equity issuance costs | (224) | — |
| Deferred payment related to purchases of property, plant and equipment | (1,368) | (4,287) |
| Net cash generated from financing activities | 29,325 | 9,463 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 1,031 | (907) |
| Increase in cash, cash equivalents and restricted cash | 4,756 | 13,393 |
| Cash, cash equivalents and restricted cash at beginning of the period | 169,238 | 109,601 |
| Cash, cash equivalents and restricted cash at end of the period | $173,994 | $122,994 |
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Reconciliation to amounts on consolidated balance sheets | ||
| Cash and cash equivalents | $126,129 | $90,898 |
| Restricted cash | 47,865 | 32,096 |
| Total cash, cash equivalents and restricted cash | $173,994 | $122,994 |
| Non-cash investing and financing activities | ||
|---|---|---|
| Payable for purchase of property, plant and equipment | $35,560 | $51,960 |
| Notes receivable in exchange for property, plant and equipment | $3,433 | $2,530 |
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