Microvast Holdings, Inc. (MVST) Revenue History
Annual and quarterly revenue from 2018 to 2025
Compound Annual Growth Rate (CAGR)
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MVST Revenue Growth
Revenue Breakdown
MVST's revenue distribution by segment and geography
By Geography
MVST Revenue Analysis (2018–2025)
As of May 8, 2026, Microvast Holdings, Inc. (MVST) generated trailing twelve-month (TTM) revenue of $427.5 million, reflecting significant decline in growth of -15.0% year-over-year. The most recent quarter (Q4 2025) recorded $96.4 million in revenue, down 21.8% sequentially.
Looking at the longer-term picture, MVST's 5-year compound annual growth rate (CAGR) stands at +31.8%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $427.5 million in 2025, representing a new all-time high.
When compared to Industrials sector peers including SES (+179.8% YoY), SLDP (-6.9% YoY), and CBAT (-22.0% YoY), MVST has underperformed the peer group in terms of revenue growth. Compare MVST vs SES →
MVST Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| MVSTCurrent | $428M | -15.0% | +31.8% | 1.6% | |
 SES | $21M | +179.8% | - | -393.4% | |
 SLDP | $22M | -6.9% | +59.6% | -463.7% | |
 CBAT | $177M | -22.0% | +51.4% | 5.0% | |
 NRGV | $204M | +362.0% | - | -36.5% |
MVST Historical Revenue Data (2018–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $427.5M | +12.6% | $122.1M | 28.6% | $7.0M | 1.6% |
| 2024 | $379.8M | +23.9% | $119.6M | 31.5% | $-116,090,000 | -30.6% |
| 2023 | $306.6M | +49.9% | $57.2M | 18.7% | $-106,729,000 | -34.8% |
| 2022 | $204.5M | +34.6% | $9.1M | 4.4% | $-159,946,000 | -78.2% |
| 2021 | $152.0M | +41.3% | $-42,743,000 | -28.1% | $-194,064,000 | -127.7% |
| 2020 | $107.5M | +40.7% | $17.1M | 15.9% | $-29,107,000 | -27.1% |
| 2019 | $76.4M | -56.1% | $-231,000 | -0.3% | $-53,861,000 | -70.5% |
| 2018 | $174.2M | - | $20.8M | 12.0% | $-57,987,000 | -33.3% |
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Start ComparisonMVST — Frequently Asked Questions
Quick answers to the most common questions about buying MVST stock.
Is MVST's revenue growth accelerating or slowing?
MVST revenue declined -15.0% year-over-year, contrasting with the 5-year CAGR of +31.8%. TTM revenue fell to $428M. This reverses the prior growth trend.
What is MVST's long-term revenue growth rate?
Microvast Holdings, Inc.'s 5-year revenue CAGR of +31.8% reflects the variable expansion pattern. Current YoY growth of -15.0% is below this long-term average.
How is MVST's revenue distributed by segment?
MVST reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2018-2025 are available for download. Segment mix reveals concentration and diversification trends.