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Microvast Holdings, Inc. (THCB)
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Income Statement |
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Standardized | As Reported |
Annual | Quarterly | TTM |
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In millions, except per share items | Mar-31-23 | Dec-31-22 | Sep-30-22 | Jun-30-22 | Mar-31-22 | Dec-31-21 | Sep-30-21 | Jun-30-21 |
| 10-Q | 10-K | 10-Q | 10-Q | 10-Q | 10-K | 10-Q | 10-Q |
Revenues: |
United States | 1.0 | 0.8 | 1.2 | 1.0 | 0.7 | 0.5 | 0.2 | 0.1 |
Other | 45.9 | 64.0 | 37.4 | 63.4 | 36.0 | 66.2 | 36.7 | 33.3 |
Total revenues [+] | 47.0 | 64.8 | 38.6 | 64.4 | 36.7 | 66.8 | 36.9 | 33.4 |
Net interest income | -0.9 | -6.5 | | | 9.4 | 17.3 | | |
Revenue growth [+] | 28.1% | -3.0% | 4.7% | 93.0% | 145.5% | 38.8% | 20.0% | |
United States | 52.1% | 40.9% | 543.3% | 1594.7% | 431.5% | | | |
Cost of goods sold | 42.1 | 62.6 | 36.6 | 59.6 | 36.7 | 65.6 | 72.8 | 40.1 |
Gross profit | 4.9 | 2.2 | 2.0 | 4.8 | 0.0 | 1.2 | -35.9 | -6.8 |
Gross margin | 10.3% | 3.4% | 5.2% | 7.5% | 0.0% | 1.7% | -97.3% | -20.3% |
Selling, general and administrative [+] | 12.0 | 13.8 | 14.0 | 14.3 | 11.0 | 13.3 | 64.4 | 9.9 |
Sales and marketing | 3.7 | 4.0 | 4.3 | 4.5 | 3.1 | 1.2 | 7.4 | 3.7 |
General and administrative | 8.2 | 9.8 | 9.8 | 9.8 | 8.0 | 25.7 | 57.1 | 6.2 |
Other selling, general and administrative | | | | | | -13.5 | | |
Research and development | 10.9 | 10.5 | 11.5 | 10.2 | 11.3 | | 13.5 | 5.9 |
Other operating expenses | 13.3 | 12.4 | 13.6 | 25.3 | 21.4 | 34.1 | -0.5 | -0.2 |
EBITDA [+] | -26.4 | -29.9 | -32.3 | -39.9 | -38.4 | -40.7 | -108.4 | -17.6 |
EBITDA growth | -31.2% | -26.4% | -70.2% | 127.3% | 524.4% | -4141.7% | -4836.6% | 6873.4% |
EBITDA margin | -56.2% | -46.2% | -83.7% | -62.0% | -104.7% | -60.9% | -293.7% | -52.6% |
Depreciation | 4.8 | 4.7 | 4.8 | 5.1 | 5.2 | 5.6 | 4.9 | 4.8 |
EBITA | -31.2 | -34.6 | -37.1 | -45.0 | -43.6 | -46.2 | -113.3 | -22.3 |
EBITA margin | -66.3% | -53.3% | -96.0% | -69.8% | -119.0% | -69.2% | -307.1% | -66.9% |
Amortization of intangibles | 0.1 | | | | 0.1 | | | |
EBIT [+] | -31.3 | -34.6 | -37.1 | -45.0 | -43.7 | -46.2 | -113.3 | -22.3 |
EBIT growth | -28.4% | -25.2% | -67.3% | 101.3% | 303.3% | 1147.3% | 1145.6% | 8775.2% |
EBIT margin | -66.6% | -53.3% | -96.0% | -69.8% | -119.2% | -69.2% | -307.1% | -66.9% |
Non-recurring items [+] | 0.0 | 0.1 | | | -0.4 | 1.4 | | |
Unusual expense | 0.0 | 0.1 | | | -0.4 | 1.4 | | |
Interest expense, net [+] | -0.9 | -0.7 | -0.1 | 0.5 | 0.5 | 0.6 | 1.2 | 1.4 |
Interest expense | 0.5 | 0.9 | 0.8 | 0.9 | 0.8 | 0.8 | 1.2 | 1.5 |
Interest income | 1.4 | 1.6 | 0.9 | 0.4 | 0.3 | 0.1 | 0.1 | 0.1 |
Other income (expense), net | 0.8 | 0.2 | 0.5 | 1.3 | 0.0 | 1.3 | -1.9 | -3.2 |
Pre-tax income | -29.6 | -33.7 | -36.5 | -44.2 | -43.8 | -47.0 | -116.4 | -27.0 |
Income taxes | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | -0.3 | 0.1 | 0.1 |
Tax rate | 0.0% | | 0.0% | 0.0% | 0.0% | 0.7% | | |
Minority interest | 0.0 | | | | | | | |
Net income | -29.6 | -33.7 | -36.5 | -44.2 | -43.8 | -46.6 | -116.5 | -27.1 |
Net margin | -63.0% | -52.0% | -94.6% | -68.6% | -119.4% | -69.8% | -315.7% | -81.1% |
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Basic EPS [+] | ($0.10) | ($0.11) | ($0.12) | ($0.15) | ($0.15) | ($0.25) | ($0.48) | ($0.27) |
Growth | -34.4% | -55.7% | -75.0% | -46.2% | -11.0% | 445.9% | 368.8% | 2388.8% |
Diluted EPS [+] | ($0.10) | ($0.11) | ($0.12) | ($0.15) | ($0.15) | ($0.25) | ($0.48) | ($0.27) |
Growth | -34.4% | -55.7% | -75.0% | -46.2% | -11.0% | 445.9% | 368.8% | 2388.8% |
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Shares outstanding (basic) [+] | 307.7 | 303.3 | 306.0 | 300.6 | 298.8 | 185.9 | 243.9 | 99.0 |
Growth | 3.0% | 63.1% | 25.5% | 203.5% | 201.8% | 87.7% | 146.3% | 266.0% |
Shares outstanding (diluted) [+] | 307.7 | 303.3 | 306.0 | 300.6 | 298.8 | 185.9 | 243.9 | 99.0 |
Growth | 3.0% | 63.1% | 25.5% | 203.5% | 201.8% | 87.7% | 146.3% | 266.0% |
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EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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