Filing Flows › Microvast Holdings (MVST) › Q3 2026
Microvast Holdings (MVST) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 9, 2026
Microvast Holdings (MVST) reported revenue of $45.8M for the third quarter 2026 (Q3 2026), -63% from a year earlier and -48% from the quarter before. Operating margin was -145.5%, net loss $76.8M (167.7% of revenue).
Microvast Holdings, Q3 2026: revenue $45.8M (-63% year over year), operating margin -145.5%, net loss $76.8M, operating cash flow −$32.1M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $45.8M | -48% | -63% |
| Operating profit | −$66.7M | — | -613% |
| Net earnings | −$76.8M | — | — |
| Operating cash flow | −$32.1M | — | -312% |
What changed
Revenue was $45.8M in Q3 2026, down 63% year over year and down 48% from the previous quarter.
Gross margin was 5.2%, down 32.5 points from Q3 2025. Operating costs exceeded revenue by $66.7M, an operating margin of -145.5%. Operating expenses grew 119% against a revenue fall of 63%. The fastest-growing cost line was General & admin (+15%). The quarter ended with a net loss of $76.8M, wider than the previous quarter's $12.0M loss.
Operating cash flow was −$32.1M. Non-cash charges added back $764K of share-based compensation. Working capital and other items added $43.9M. Capital expenditures of $2.3M exceeded it, leaving free cash flow of −$34.5M.
Questions
What was Microvast Holdings' revenue in the third quarter 2026?
Microvast Holdings (MVST) reported revenue of $45.8M for the third quarter 2026 (Q3 2026), -63% from a year earlier and -48% from the quarter before.
Was Microvast Holdings profitable in the third quarter 2026?
Operating loss was $66.7M (-145.5% of revenue) and net loss $76.8M.
Source: Microvast Holdings 10-Q on SEC EDGAR.