Filing Flows › Microvast Holdings (MVST) › Q2 2025
Microvast Holdings (MVST) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 11, 2025
Microvast Holdings (MVST) reported revenue of $91.3M for the second quarter 2025 (Q2 2025), +9% from a year earlier and -22% from the quarter before. Operating margin was 17.8%, net loss $106M (116.1% of revenue).
Microvast Holdings, Q2 2025: revenue $91.3M (+9% year over year), operating margin 17.8%, net loss $106M, operating cash flow $37.2M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $91.3M | -22% | +9% |
| Operating profit | $16.2M | -14% | — |
| Net earnings | −$106M | -272% | — |
| Operating cash flow | $37.2M | +418% | 335× |
| Free cash flow | $34.3M | +611% | — |
What changed
Revenue was $91.3M in Q2 2025, up 9% year over year and down 22% from the previous quarter.
Gross margin was 34.7%, up 2.2 points from a year earlier. Operating profit was $16.2M, a 17.8% margin (up 135.8 points year over year). Operating expenses fell 88% while revenue rose 9%. The quarter ended with a net loss of $106.1M, after a profit of $61.8M the previous quarter. Net interest and other expense of $122.1M was the main reason.
Operating cash flow was $37.2M (up 33372% year over year). Non-cash charges added back $846K of share-based compensation. Working capital and other items added $142.4M. Capital expenditures of $2.9M left free cash flow of $34.3M.
Questions
What was Microvast Holdings' revenue in the second quarter 2025?
Microvast Holdings (MVST) reported revenue of $91.3M for the second quarter 2025 (Q2 2025), +9% from a year earlier and -22% from the quarter before.
Was Microvast Holdings profitable in the second quarter 2025?
Operating profit was $16.2M (17.8% of revenue) and net loss $106M.
Source: Microvast Holdings 10-Q on SEC EDGAR.