Microvast Holdings Inc
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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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.
Sep 30, 2024 · Filed Nov 12, 2024
MVST$0.22-64.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unaudited Condensed Consolidated Statements of Operations
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenues | $101,388 | $80,116 | $266,414 | $202,042 |
| Cost of revenues | (67,776) | (62,232) | (188,382) | (167,839) |
| Gross profit | 33,612 | 17,884 | 78,032 | 34,203 |
| Operating expenses: | ||||
| General and administrative expenses | (11,841) | (24,980) | (59,146) | (68,874) |
| Research and development expenses | (10,692) | (13,241) | (32,291) | (33,609) |
| Selling and marketing expenses | (4,963) | (6,031) | (15,580) | (16,916) |
| Impairment loss of long-lived assets | (12) | (422) | (64,924) | (473) |
| Total operating expenses | (27,508) | (44,674) | (171,941) | (119,872) |
| Subsidy income | 1,082 | 442 | 2,351 | 1,156 |
| Profit/(loss) from operations | 7,186 | (26,348) | (91,558) | (84,513) |
| Other income and expenses: | ||||
| Interest income | 186 | 582 | 551 | 3,481 |
| Interest expense | (4,290) | (491) | (8,116) | (1,437) |
| Changes in fair value of warrant and convertible loan | 2,766 | (42) | 1,240 | (25) |
| Other income | 7,399 | 127 | 7,864 | 673 |
| Profit/(loss) before provision for income taxes | 13,247 | (26,172) | (90,019) | (81,821) |
| Income tax expense | — | — | — | — |
| Net profit/(loss) | $13,247 | $(26,172) | $(90,019) | $(81,821) |
| Less: net loss attributable to noncontrolling interests | — | (42) | — | (21) |
| Net profit/(loss) attributable to Microvast Holdings, Inc.'s shareholders | $13,247 | $(26,130) | $(90,019) | $(81,800) |
| Net profit/(loss) per common share | ||||
| Basic | $0.04 | $(0.08) | $(0.28) | $(0.26) |
| Diluted | $0.03 | $(0.08) | $(0.28) | $(0.26) |
| Weighted average shares used in calculating net profit/(loss) per share of common stock | ||||
| Basic | 320,545,388 | 313,108,457 | 317,153,113 | 309,541,499 |
| Diluted | 367,031,181 | 313,108,457 | 317,153,113 | 309,541,499 |
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