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Tuscan Holdings Corp.

EDGAR

MVST Quarterly report (10-Q) · filed 2026-08-10

Annual consolidated revenue for 2025: about USD 427.5M, using the latest reported figures. The previous period, 2024, was about USD 379.8M.

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Watchlist

Latest quarter

Revenue

87.3 million USD

2026 Q2 · USD

Exact inputs and evidence

Revenue: 87262000 USD Source

Operating margin

-1.97%

2026 Q2 · %

Exact inputs and evidence

Operating Income: -1720000 USD Source
Revenue: 87262000 USD Source

Operating cash flow

-10.5 million USD

2026 Q2 · USD

Exact inputs and evidence

Operating Cash Flow: -33300000 USD Source
Operating Cash Flow: -22796000 USD Source

Free cash flow

-21.8 million USD

2026 Q2 · USD

Exact inputs and evidence

Operating Cash Flow: -33300000 USD Source
Operating Cash Flow: -22796000 USD Source
Capital Expenditure: 14170000 USD Source
Capital Expenditure: 2855000 USD Source

Cash and cash equivalents: 128 million USD 2026-06-30 Source
Exact value

127800000 USD
Long-term debt including current maturities: 13.2 million USD 2025-12-31 Source
Exact value

13227000 USD
Shares outstanding: 385 million shares 2026-06-30 Source
Exact value

384534000 shares

Reported share-count change

18.81% · 60.9 million shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence

323666611 shares · 2025-06-30· Source
384534000 shares · 2026-06-30· Source

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

368 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence

Revenue: 123287000 USD · 2025-07-01 – 2025-09-30 Source
Revenue: 427516000 USD · 2025-01-01 – 2025-12-31 Source
Revenue: 331117000 USD · 2025-01-01 – 2025-09-30 Source
Revenue: 60612000 USD · 2026-01-01 – 2026-03-31 Source
Revenue: 87262000 USD · 2026-04-01 – 2026-06-30 Source

Capital expenditure

28.8 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence

Capital expenditure: 19191000 USD · 2025-01-01 – 2025-09-30 Source
Capital expenditure: 5207000 USD · 2025-01-01 – 2025-06-30 Source
Capital expenditure: 19834000 USD · 2025-01-01 – 2025-12-31 Source
Capital expenditure: 19191000 USD · 2025-01-01 – 2025-09-30 Source
Capital expenditure: 2855000 USD · 2026-01-01 – 2026-03-31 Source
Capital expenditure: 14170000 USD · 2026-01-01 – 2026-06-30 Source
Capital expenditure: 2855000 USD · 2026-01-01 – 2026-03-31 Source

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-08-10.

Financial data available through: 2025-12-31.

Coverage by financial measure

Revenue: 8 of 11 periods available· newest 2025-12-31
Operating income: 8 of 11 periods available· newest 2025-12-31
Net income: 8 of 11 periods available· newest 2025-12-31
Operating cash flow: 8 of 11 periods available· newest 2025-12-31
Capital expenditure: 8 of 11 periods available· newest 2025-12-31
Total assets: 8 of 11 periods available· newest 2025-12-31
Total liabilities: 8 of 11 periods available· newest 2025-12-31
Current assets: 8 of 11 periods available· newest 2025-12-31
Current liabilities: 8 of 11 periods available· newest 2025-12-31
Cash and cash equivalents: 8 of 11 periods available· newest 2025-12-31
Long-term debt including current maturities: 5 of 11 periods available· newest 2025-12-31
Shares outstanding: 8 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

Revenue
+12.6%

Prior period

USD 379.8 million

2024-01-01 – 2024-12-31
Current period

USD 427.52 million

2025-01-01 – 2025-12-31

Exact inputs and evidence

427516000 − 379801000 = 47715000 USD

379801000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source
427516000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current source

Share or cite

Citation for Year-over-year change in Revenue · Tuscan Holdings Corp. · 2025-12-31 Tuscan Holdings Corp. (edgar:1760689) Year-over-year change in Revenue: 47715000 USD Concept: fundies:Revenue Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689?view=overview&cadence=annual&surface=latest#period-changes-title Computed: Current period minus corresponding prior-year period Input fundies:Revenue: 427516000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#2149597 Filing: 000162828026018264 Input fundies:Revenue: 379801000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#2151544 Filing: 000162828026018264
The citation records this snapshot. The page link may show a newer release later.
Net income
+USD 166.24 million

Prior period

−USD 195.46 million

2024-01-01 – 2024-12-31
Current period

−USD 29.22 million

2025-01-01 – 2025-12-31

Exact inputs and evidence

-29218000 − -195457000 = 166239000 USD

-195457000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source
-29218000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current source

Share or cite

Citation for Year-over-year change in Net income · Tuscan Holdings Corp. · 2025-12-31 Tuscan Holdings Corp. (edgar:1760689) Year-over-year change in Net income: 166239000 USD Concept: fundies:NetIncome Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689?view=overview&cadence=annual&surface=latest#period-changes-title Computed: Current period minus corresponding prior-year period Input fundies:NetIncome: -29218000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#1108802 Filing: 000162828026018264 Input fundies:NetIncome: -195457000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#1109653 Filing: 000162828026018264
The citation records this snapshot. The page link may show a newer release later.
Operating cash flow
+2,597.5%

Prior period

USD 2.81 million

2024-01-01 – 2024-12-31
Current period

USD 75.91 million

2025-01-01 – 2025-12-31

Exact inputs and evidence

75908000 − 2814000 = 73094000 USD

2814000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source
75908000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current source

Share or cite

Citation for Year-over-year change in Operating cash flow · Tuscan Holdings Corp. · 2025-12-31 Tuscan Holdings Corp. (edgar:1760689) Year-over-year change in Operating cash flow: 73094000 USD Concept: fundies:OperatingCashFlow Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689?view=overview&cadence=annual&surface=latest#period-changes-title Computed: Current period minus corresponding prior-year period Input fundies:OperatingCashFlow: 75908000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#1411823 Filing: 000162828026018264 Input fundies:OperatingCashFlow: 2814000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#1412018 Filing: 000162828026018264
The citation records this snapshot. The page link may show a newer release later.
Capital expenditure
-28.5%

Prior period

USD 27.72 million

2024-01-01 – 2024-12-31
Current period

USD 19.83 million

2025-01-01 – 2025-12-31

Exact inputs and evidence

19834000 − 27721000 = -7887000 USD

27721000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source
19834000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current source

Share or cite

Citation for Year-over-year change in Capital expenditure · Tuscan Holdings Corp. · 2025-12-31 Tuscan Holdings Corp. (edgar:1760689) Year-over-year change in Capital expenditure: -7887000 USD Concept: fundies:CapitalExpenditure Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689?view=overview&cadence=annual&surface=latest#period-changes-title Computed: Current period minus corresponding prior-year period Input fundies:CapitalExpenditure: 19834000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#1329354 Filing: 000162828026018264 Input fundies:CapitalExpenditure: 27721000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#1329945 Filing: 000162828026018264
The citation records this snapshot. The page link may show a newer release later.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

Revenue USD 427.52 million 100% of revenue
Cost of revenue USD 305.41 million 71% of revenue
Operating expenses USD 118.27 million 28% of revenue
Other operating costs Derived −USD 3.14 million −0.7% of revenue
Operating income USD 6.98 million 1.6% of revenue
Tax, interest and other Derived USD 36.2 million 8.5% of revenue
Net income −USD 29.22 million −6.8% of revenue

Cash

Operating cash flow USD 75.91 million 18% of revenue
Capital expenditure USD 19.83 million 4.6% of revenue
Free cash flow Derived USD 56.07 million 13% of revenue

Share of revenue by period

Net income
Tax, interest and other
Operating costs

2018 Operating loss: operating costs were 129% of revenue.
2019 Operating loss: operating costs were 170% of revenue.
2020 Operating loss: operating costs were 127% of revenue.
2021 Operating loss: operating costs were 228% of revenue.
2022 Operating loss: operating costs were 178% of revenue.
2023 Operating loss: operating costs were 135% of revenue.
2024 Operating loss: operating costs were 131% of revenue.
2025 Net loss: net income was −6.8% of revenue.

Values and sources

Revenue breakdown by annual reporting period
Period	Revenue	Operating costs	Operating income	Tax, interest and other	Net income	Free cash flow	Source
2018 2018-01-01 – 2018-12-31	174235000	223923000 Derived	-49688000	5204000 Derived	-54892000	-35304000 Derived	Source 2018-01-01 – 2018-12-31: 174235000 USD Inspect Revenue Open source 2018-01-01 – 2018-12-31: -49688000 USD Inspect Operating Income Open source 2018-01-01 – 2018-12-31: -54892000 USD Inspect Net Income Open source 2018-01-01 – 2018-12-31: -5492000 USD Inspect Operating Cash Flow Open source 2018-01-01 – 2018-12-31: 29812000 USD Inspect Capital Expenditure Open source
2019 2019-01-01 – 2019-12-31	76434000	130295000 Derived	-53861000	3679000 Derived	-57540000	-6889000 Derived	Source 2019-01-01 – 2019-12-31: 76434000 USD Inspect Revenue Open source 2019-01-01 – 2019-12-31: -53861000 USD Inspect Operating Income Open source 2019-01-01 – 2019-12-31: -57540000 USD Inspect Net Income Open source 2019-01-01 – 2019-12-31: 13371000 USD Inspect Operating Cash Flow Open source 2019-01-01 – 2019-12-31: 20260000 USD Inspect Capital Expenditure Open source
2020 2020-01-01 – 2020-12-31	107518000	136625000 Derived	-29107000	4518000 Derived	-33625000	-3089000 Derived	Source 2020-01-01 – 2020-12-31: 107518000 USD Inspect Revenue Open source 2020-01-01 – 2020-12-31: -29107000 USD Inspect Operating Income Open source 2020-01-01 – 2020-12-31: -33625000 USD Inspect Net Income Open source 2020-01-01 – 2020-12-31: 15556000 USD Inspect Operating Cash Flow Open source 2020-01-01 – 2020-12-31: 18645000 USD Inspect Capital Expenditure Open source
2021 2021-01-01 – 2021-12-31	151976000	346040000 Derived	-194064000	12419000 Derived	-206483000	-132901000 Derived	Source 2021-01-01 – 2021-12-31: 151976000 USD Inspect Revenue Open source 2021-01-01 – 2021-12-31: -194064000 USD Inspect Operating Income Open source 2021-01-01 – 2021-12-31: -206483000 USD Inspect Net Income Open source 2021-01-01 – 2021-12-31: -45039000 USD Inspect Operating Cash Flow Open source 2021-01-01 – 2021-12-31: 87862000 USD Inspect Capital Expenditure Open source
2022 2022-01-01 – 2022-12-31	204495000	364441000 Derived	-159946000	-1746000 Derived	-158200000	-204808000 Derived	Source 2022-01-01 – 2022-12-31: 204495000 USD Inspect Revenue Open source 2022-01-01 – 2022-12-31: -159946000 USD Inspect Operating Income Open source 2022-01-01 – 2022-12-31: -158200000 USD Inspect Net Income Open source 2022-01-01 – 2022-12-31: -53928000 USD Inspect Operating Cash Flow Open source 2022-01-01 – 2022-12-31: 150880000 USD Inspect Capital Expenditure Open source
2023 2023-01-01 – 2023-12-31	306617000	413346000 Derived	-106729000	-393000 Derived	-106336000	-262091000 Derived	Source 2023-01-01 – 2023-12-31: 306617000 USD Inspect Revenue Open source 2023-01-01 – 2023-12-31: -106729000 USD Inspect Operating Income Open source 2023-01-01 – 2023-12-31: -106336000 USD Inspect Net Income Open source 2023-01-01 – 2023-12-31: -75303000 USD Inspect Operating Cash Flow Open source 2023-01-01 – 2023-12-31: 186788000 USD Inspect Capital Expenditure Open source
2024 2024-01-01 – 2024-12-31	379801000	495891000 Derived	-116090000	79367000 Derived	-195457000	-24907000 Derived	Source 2024-01-01 – 2024-12-31: 379801000 USD Inspect Revenue Open source 2024-01-01 – 2024-12-31: -116090000 USD Inspect Operating Income Open source 2024-01-01 – 2024-12-31: -195457000 USD Inspect Net Income Open source 2024-01-01 – 2024-12-31: 2814000 USD Inspect Operating Cash Flow Open source 2024-01-01 – 2024-12-31: 27721000 USD Inspect Capital Expenditure Open source
2025 2025-01-01 – 2025-12-31	427516000	420533000 Derived	6983000	36201000 Derived	-29218000	56074000 Derived	Source 2025-01-01 – 2025-12-31: 427516000 USD Inspect Revenue Open source 2025-01-01 – 2025-12-31: 6983000 USD Inspect Operating Income Open source 2025-01-01 – 2025-12-31: -29218000 USD Inspect Net Income Open source 2025-01-01 – 2025-12-31: 75908000 USD Inspect Operating Cash Flow Open source 2025-01-01 – 2025-12-31: 19834000 USD Inspect Capital Expenditure Open source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 427.5M 2025

Values and sources

Revenue values and source evidence
Period	Series	Value(USD)	Source evidence
20182018-12-31	Revenue	174235000	Revenue: 174235000 Open source
20192019-12-31	Revenue	76434000	Revenue: 76434000 Open source
20202020-12-31	Revenue	107518000	Revenue: 107518000 Open source
20212021-12-31	Revenue	151976000	Revenue: 151976000 Open source
20222022-12-31	Revenue	204495000	Revenue: 204495000 Open source
20232023-12-31	Revenue	306617000	Revenue: 306617000 Open source
20242024-12-31	Revenue	379801000	Revenue: 379801000 Open source
20252025-12-31	Revenue	427516000	Revenue: 427516000 Open source

Revenue growth

Change in revenue from the same financial period one year earlier.

12.6% 2025

Values and sources

Revenue growth values and source evidence
Period	Series	Value	Source evidence
20182018-12-31	Year over year	No prior comparable period	Revenue: 174235000 Open source
20192019-12-31	Year over year	-56.1%	Revenue: 76434000 Open source Revenue: 174235000 Open source
20202020-12-31	Year over year	40.7%	Revenue: 107518000 Open source Revenue: 76434000 Open source
20212021-12-31	Year over year	41.3%	Revenue: 151976000 Open source Revenue: 107518000 Open source
20222022-12-31	Year over year	34.6%	Revenue: 204495000 Open source Revenue: 151976000 Open source
20232023-12-31	Year over year	49.9%	Revenue: 306617000 Open source Revenue: 204495000 Open source
20242024-12-31	Year over year	23.9%	Revenue: 379801000 Open source Revenue: 306617000 Open source
20252025-12-31	Year over year	12.6%	Revenue: 427516000 Open source Revenue: 379801000 Open source

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 1.6% 2025

Net margin -6.8% 2025

Free cash flow margin 13.1% 2025

Operating margin
Net margin
Free cash flow margin

Values and sources

Profit margins values and source evidence
Period	Series	Value	Source evidence
20182018-12-31	Operating margin	-28.5%	Operating Income: -49688000 Open source Revenue: 174235000 Open source
20192019-12-31	Operating margin	-70.5%	Operating Income: -53861000 Open source Revenue: 76434000 Open source
20202020-12-31	Operating margin	-27.1%	Operating Income: -29107000 Open source Revenue: 107518000 Open source
20212021-12-31	Operating margin	-127.7%	Operating Income: -194064000 Open source Revenue: 151976000 Open source
20222022-12-31	Operating margin	-78.2%	Operating Income: -159946000 Open source Revenue: 204495000 Open source
20232023-12-31	Operating margin	-34.8%	Operating Income: -106729000 Open source Revenue: 306617000 Open source
20242024-12-31	Operating margin	-30.6%	Operating Income: -116090000 Open source Revenue: 379801000 Open source
20252025-12-31	Operating margin	1.6%	Operating Income: 6983000 Open source Revenue: 427516000 Open source
20182018-12-31	Net margin	-31.5%	Net Income: -54892000 Open source Revenue: 174235000 Open source
20192019-12-31	Net margin	-75.3%	Net Income: -57540000 Open source Revenue: 76434000 Open source
20202020-12-31	Net margin	-31.3%	Net Income: -33625000 Open source Revenue: 107518000 Open source
20212021-12-31	Net margin	-135.9%	Net Income: -206483000 Open source Revenue: 151976000 Open source
20222022-12-31	Net margin	-77.4%	Net Income: -158200000 Open source Revenue: 204495000 Open source
20232023-12-31	Net margin	-34.7%	Net Income: -106336000 Open source Revenue: 306617000 Open source
20242024-12-31	Net margin	-51.5%	Net Income: -195457000 Open source Revenue: 379801000 Open source
20252025-12-31	Net margin	-6.8%	Net Income: -29218000 Open source Revenue: 427516000 Open source
20182018-12-31	Free cash flow margin	-20.3%	Revenue: 174235000 Open source Operating Cash Flow: -5492000 Open source Capital Expenditure: 29812000 Open source
20192019-12-31	Free cash flow margin	-9%	Revenue: 76434000 Open source Operating Cash Flow: 13371000 Open source Capital Expenditure: 20260000 Open source
20202020-12-31	Free cash flow margin	-2.9%	Revenue: 107518000 Open source Operating Cash Flow: 15556000 Open source Capital Expenditure: 18645000 Open source
20212021-12-31	Free cash flow margin	-87.4%	Revenue: 151976000 Open source Operating Cash Flow: -45039000 Open source Capital Expenditure: 87862000 Open source
20222022-12-31	Free cash flow margin	-100.2%	Revenue: 204495000 Open source Operating Cash Flow: -53928000 Open source Capital Expenditure: 150880000 Open source
20232023-12-31	Free cash flow margin	-85.5%	Revenue: 306617000 Open source Operating Cash Flow: -75303000 Open source Capital Expenditure: 186788000 Open source
20242024-12-31	Free cash flow margin	-6.6%	Revenue: 379801000 Open source Operating Cash Flow: 2814000 Open source Capital Expenditure: 27721000 Open source
20252025-12-31	Free cash flow margin	13.1%	Revenue: 427516000 Open source Operating Cash Flow: 75908000 Open source Capital Expenditure: 19834000 Open source

Operating cash flow

Cash generated by the company’s normal business operations.

USD 75.9M 2025

Values and sources

Operating cash flow values and source evidence
Period	Series	Value(USD)	Source evidence
20182018-12-31	Operating cash flow	-5492000	Operating Cash Flow: -5492000 Open source
20192019-12-31	Operating cash flow	13371000	Operating Cash Flow: 13371000 Open source
20202020-12-31	Operating cash flow	15556000	Operating Cash Flow: 15556000 Open source
20212021-12-31	Operating cash flow	-45039000	Operating Cash Flow: -45039000 Open source
20222022-12-31	Operating cash flow	-53928000	Operating Cash Flow: -53928000 Open source
20232023-12-31	Operating cash flow	-75303000	Operating Cash Flow: -75303000 Open source
20242024-12-31	Operating cash flow	2814000	Operating Cash Flow: 2814000 Open source
20252025-12-31	Operating cash flow	75908000	Operating Cash Flow: 75908000 Open source

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 56.1M 2025

Values and sources

Free cash flow values and source evidence
Period	Series	Value(USD)	Source evidence
20182018-12-31	Free cash flow	-35304000	Operating Cash Flow: -5492000 Open source Capital Expenditure: 29812000 Open source
20192019-12-31	Free cash flow	-6889000	Operating Cash Flow: 13371000 Open source Capital Expenditure: 20260000 Open source
20202020-12-31	Free cash flow	-3089000	Operating Cash Flow: 15556000 Open source Capital Expenditure: 18645000 Open source
20212021-12-31	Free cash flow	-132901000	Operating Cash Flow: -45039000 Open source Capital Expenditure: 87862000 Open source
20222022-12-31	Free cash flow	-204808000	Operating Cash Flow: -53928000 Open source Capital Expenditure: 150880000 Open source
20232023-12-31	Free cash flow	-262091000	Operating Cash Flow: -75303000 Open source Capital Expenditure: 186788000 Open source
20242024-12-31	Free cash flow	-24907000	Operating Cash Flow: 2814000 Open source Capital Expenditure: 27721000 Open source
20252025-12-31	Free cash flow	56074000	Operating Cash Flow: 75908000 Open source Capital Expenditure: 19834000 Open source

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

59.2% 2025

Values and sources

Liabilities to assets values and source evidence
Period	Series	Value	Source evidence
20182018-12-31	Liabilities / assets	74.9%	Total Liabilities: 75792 Open source Total Assets: 101200 Open source
20192019-12-31	Liabilities / assets	0.2%	Total Liabilities: 701454 Open source Total Assets: 415820000 Open source
20202020-12-31	Liabilities / assets	96.2%	Total Liabilities: 389162000 Open source Total Assets: 404510000 Open source
20212021-12-31	Liabilities / assets	31%	Total Liabilities: 308593000 Open source Total Assets: 995291000 Open source
20222022-12-31	Liabilities / assets	37.8%	Total Liabilities: 371980000 Open source Total Assets: 984957000 Open source
20232023-12-31	Liabilities / assets	48.6%	Total Liabilities: 532542000 Open source Total Assets: 1096732000 Open source
20242024-12-31	Liabilities / assets	59.2%	Total Liabilities: 563972000 Open source Total Assets: 951867000 Open source
20252025-12-31	Liabilities / assets	59.2%	Total Liabilities: 594935000 Open source Total Assets: 1005448000 Open source

Current assets to current liabilities

Current assets divided by current liabilities.

0.92× 2025

Values and sources

Current assets to current liabilities values and source evidence
Period	Series	Value	Source evidence
20182018-12-31	Current assets / current liabilities	0.23×	Current Assets: 17525 Open source Current Liabilities: 75792 Open source
20192019-12-31	Current assets / current liabilities	1.06×	Current Assets: 206847000 Open source Current Liabilities: 195798000 Open source
20202020-12-31	Current assets / current liabilities	1.03×	Current Assets: 189323000 Open source Current Liabilities: 183626000 Open source
20212021-12-31	Current assets / current liabilities	4.02×	Current Assets: 706606000 Open source Current Liabilities: 175594000 Open source
20222022-12-31	Current assets / current liabilities	2.16×	Current Assets: 545067000 Open source Current Liabilities: 252409000 Open source
20232023-12-31	Current assets / current liabilities	1.06×	Current Assets: 425606000 Open source Current Liabilities: 403410000 Open source
20242024-12-31	Current assets / current liabilities	1.3×	Current Assets: 428026000 Open source Current Liabilities: 330153000 Open source
20252025-12-31	Current assets / current liabilities	0.92×	Current Assets: 448723000 Open source Current Liabilities: 488341000 Open source

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
Period	Net income	Operating cash flow	Capital expenditure	Free cash flow
2018 2018-01-01 – 2018-12-31	−USD 54.89 million Exact value Exact value: -54892000 USD 2018-01-01 – 2018-12-31: -54892000 USD Inspect Net Income Open source Share or cite Citation for Net Income · Tuscan Holdings Corp. · 2018-12-31 Tuscan Holdings Corp. (edgar:1760689) Net Income: -54892000 USD Concept: fundies:NetIncome Period: 2018-01-01 to 2018-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3ANetIncome&period=2018-12-31&surface=latest&period_type=duration&start=2018-01-01&unit=USD&dimensions= Input fundies:NetIncome: -54892000 USD (2018-01-01 to 2018-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000121390021044069/fs12021_microvast.htm#9870202 Filing: 000121390021044069 The citation records this snapshot. The page link may show a newer release later.	−USD 5.49 million Exact value Exact value: -5492000 USD 2018-01-01 – 2018-12-31: -5492000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Tuscan Holdings Corp. · 2018-12-31 Tuscan Holdings Corp. (edgar:1760689) Operating Cash Flow: -5492000 USD Concept: fundies:OperatingCashFlow Period: 2018-01-01 to 2018-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3AOperatingCashFlow&period=2018-12-31&surface=latest&period_type=duration&start=2018-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: -5492000 USD (2018-01-01 to 2018-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000121390021044069/fs12021_microvast.htm#11083893 Filing: 000121390021044069 The citation records this snapshot. The page link may show a newer release later.	USD 29.81 million Exact value Exact value: 29812000 USD 2018-01-01 – 2018-12-31: 29812000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Tuscan Holdings Corp. · 2018-12-31 Tuscan Holdings Corp. (edgar:1760689) Capital Expenditure: 29812000 USD Concept: fundies:CapitalExpenditure Period: 2018-01-01 to 2018-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3ACapitalExpenditure&period=2018-12-31&surface=latest&period_type=duration&start=2018-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 29812000 USD (2018-01-01 to 2018-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000121390021044069/fs12021_microvast.htm#11108232 Filing: 000121390021044069 The citation records this snapshot. The page link may show a newer release later.	−USD 35.3 million Calculation and evidence -5492000 − 29812000 USD Exact free cash flow: -35304000 USD 2018-01-01 – 2018-12-31: -5492000 USD · Inspect Operating Cash Flow · Source 2018-01-01 – 2018-12-31: 29812000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Tuscan Holdings Corp. · 2018-12-31 Tuscan Holdings Corp. (edgar:1760689) Free cash flow: -35304000 USD Concept: free-cash-flow Period: 2018-01-01 to 2018-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: -5492000 USD (2018-01-01 to 2018-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000121390021044069/fs12021_microvast.htm#11083893 Filing: 000121390021044069 Input fundies:CapitalExpenditure: 29812000 USD (2018-01-01 to 2018-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000121390021044069/fs12021_microvast.htm#11108232 Filing: 000121390021044069 The citation records this snapshot. The page link may show a newer release later.
2019 2019-01-01 – 2019-12-31	−USD 57.54 million Exact value Exact value: -57540000 USD 2019-01-01 – 2019-12-31: -57540000 USD Inspect Net Income Open source Share or cite Citation for Net Income · Tuscan Holdings Corp. · 2019-12-31 Tuscan Holdings Corp. (edgar:1760689) Net Income: -57540000 USD Concept: fundies:NetIncome Period: 2019-01-01 to 2019-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3ANetIncome&period=2019-12-31&surface=latest&period_type=duration&start=2019-01-01&unit=USD&dimensions= Input fundies:NetIncome: -57540000 USD (2019-01-01 to 2019-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000121390021044069/fs12021_microvast.htm#9873239 Filing: 000121390021044069 The citation records this snapshot. The page link may show a newer release later.	USD 13.37 million Exact value Exact value: 13371000 USD 2019-01-01 – 2019-12-31: 13371000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Tuscan Holdings Corp. · 2019-12-31 Tuscan Holdings Corp. (edgar:1760689) Operating Cash Flow: 13371000 USD Concept: fundies:OperatingCashFlow Period: 2019-01-01 to 2019-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3AOperatingCashFlow&period=2019-12-31&surface=latest&period_type=duration&start=2019-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 13371000 USD (2019-01-01 to 2019-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000121390022015871/f10k2021_microvasthold.htm#935160 Filing: 000121390022015871 The citation records this snapshot. The page link may show a newer release later.	USD 20.26 million Exact value Exact value: 20260000 USD 2019-01-01 – 2019-12-31: 20260000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Tuscan Holdings Corp. · 2019-12-31 Tuscan Holdings Corp. (edgar:1760689) Capital Expenditure: 20260000 USD Concept: fundies:CapitalExpenditure Period: 2019-01-01 to 2019-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3ACapitalExpenditure&period=2019-12-31&surface=latest&period_type=duration&start=2019-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 20260000 USD (2019-01-01 to 2019-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000121390022015871/f10k2021_microvasthold.htm#937765 Filing: 000121390022015871 The citation records this snapshot. The page link may show a newer release later.	−USD 6.89 million Calculation and evidence 13371000 − 20260000 USD Exact free cash flow: -6889000 USD 2019-01-01 – 2019-12-31: 13371000 USD · Inspect Operating Cash Flow · Source 2019-01-01 – 2019-12-31: 20260000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Tuscan Holdings Corp. · 2019-12-31 Tuscan Holdings Corp. (edgar:1760689) Free cash flow: -6889000 USD Concept: free-cash-flow Period: 2019-01-01 to 2019-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 13371000 USD (2019-01-01 to 2019-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000121390022015871/f10k2021_microvasthold.htm#935160 Filing: 000121390022015871 Input fundies:CapitalExpenditure: 20260000 USD (2019-01-01 to 2019-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000121390022015871/f10k2021_microvasthold.htm#937765 Filing: 000121390022015871 The citation records this snapshot. The page link may show a newer release later.
2020 2020-01-01 – 2020-12-31	−USD 33.63 million Exact value Exact value: -33625000 USD 2020-01-01 – 2020-12-31: -33625000 USD Inspect Net Income Open source Share or cite Citation for Net Income · Tuscan Holdings Corp. · 2020-12-31 Tuscan Holdings Corp. (edgar:1760689) Net Income: -33625000 USD Concept: fundies:NetIncome Period: 2020-01-01 to 2020-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3ANetIncome&period=2020-12-31&surface=latest&period_type=duration&start=2020-01-01&unit=USD&dimensions= Input fundies:NetIncome: -33625000 USD (2020-01-01 to 2020-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000121390021044069/fs12021_microvast.htm#9876276 Filing: 000121390021044069 The citation records this snapshot. The page link may show a newer release later.	USD 15.56 million Exact value Exact value: 15556000 USD 2020-01-01 – 2020-12-31: 15556000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Tuscan Holdings Corp. · 2020-12-31 Tuscan Holdings Corp. (edgar:1760689) Operating Cash Flow: 15556000 USD Concept: fundies:OperatingCashFlow Period: 2020-01-01 to 2020-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3AOperatingCashFlow&period=2020-12-31&surface=latest&period_type=duration&start=2020-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 15556000 USD (2020-01-01 to 2020-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000176068923000014/mvst-20221231.htm#1273684 Filing: 000176068923000014 The citation records this snapshot. The page link may show a newer release later.	USD 18.65 million Exact value Exact value: 18645000 USD 2020-01-01 – 2020-12-31: 18645000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Tuscan Holdings Corp. · 2020-12-31 Tuscan Holdings Corp. (edgar:1760689) Capital Expenditure: 18645000 USD Concept: fundies:CapitalExpenditure Period: 2020-01-01 to 2020-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3ACapitalExpenditure&period=2020-12-31&surface=latest&period_type=duration&start=2020-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 18645000 USD (2020-01-01 to 2020-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000176068923000014/mvst-20221231.htm#1277195 Filing: 000176068923000014 The citation records this snapshot. The page link may show a newer release later.	−USD 3.09 million Calculation and evidence 15556000 − 18645000 USD Exact free cash flow: -3089000 USD 2020-01-01 – 2020-12-31: 15556000 USD · Inspect Operating Cash Flow · Source 2020-01-01 – 2020-12-31: 18645000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Tuscan Holdings Corp. · 2020-12-31 Tuscan Holdings Corp. (edgar:1760689) Free cash flow: -3089000 USD Concept: free-cash-flow Period: 2020-01-01 to 2020-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 15556000 USD (2020-01-01 to 2020-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000176068923000014/mvst-20221231.htm#1273684 Filing: 000176068923000014 Input fundies:CapitalExpenditure: 18645000 USD (2020-01-01 to 2020-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000176068923000014/mvst-20221231.htm#1277195 Filing: 000176068923000014 The citation records this snapshot. The page link may show a newer release later.
2021 2021-01-01 – 2021-12-31	−USD 206.48 million Exact value Exact value: -206483000 USD 2021-01-01 – 2021-12-31: -206483000 USD Inspect Net Income Open source Share or cite Citation for Net Income · Tuscan Holdings Corp. · 2021-12-31 Tuscan Holdings Corp. (edgar:1760689) Net Income: -206483000 USD Concept: fundies:NetIncome Period: 2021-01-01 to 2021-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3ANetIncome&period=2021-12-31&surface=latest&period_type=duration&start=2021-01-01&unit=USD&dimensions= Input fundies:NetIncome: -206483000 USD (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000176068924000007/mvst-20231231.htm#1018479 Filing: 000176068924000007 The citation records this snapshot. The page link may show a newer release later.	−USD 45.04 million Exact value Exact value: -45039000 USD 2021-01-01 – 2021-12-31: -45039000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Tuscan Holdings Corp. · 2021-12-31 Tuscan Holdings Corp. (edgar:1760689) Operating Cash Flow: -45039000 USD Concept: fundies:OperatingCashFlow Period: 2021-01-01 to 2021-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3AOperatingCashFlow&period=2021-12-31&surface=latest&period_type=duration&start=2021-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: -45039000 USD (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000176068924000007/mvst-20231231.htm#1355698 Filing: 000176068924000007 The citation records this snapshot. The page link may show a newer release later.	USD 87.86 million Exact value Exact value: 87862000 USD 2021-01-01 – 2021-12-31: 87862000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Tuscan Holdings Corp. · 2021-12-31 Tuscan Holdings Corp. (edgar:1760689) Capital Expenditure: 87862000 USD Concept: fundies:CapitalExpenditure Period: 2021-01-01 to 2021-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3ACapitalExpenditure&period=2021-12-31&surface=latest&period_type=duration&start=2021-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 87862000 USD (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000176068924000007/mvst-20231231.htm#1265938 Filing: 000176068924000007 The citation records this snapshot. The page link may show a newer release later.	−USD 132.9 million Calculation and evidence -45039000 − 87862000 USD Exact free cash flow: -132901000 USD 2021-01-01 – 2021-12-31: -45039000 USD · Inspect Operating Cash Flow · Source 2021-01-01 – 2021-12-31: 87862000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Tuscan Holdings Corp. · 2021-12-31 Tuscan Holdings Corp. (edgar:1760689) Free cash flow: -132901000 USD Concept: free-cash-flow Period: 2021-01-01 to 2021-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: -45039000 USD (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000176068924000007/mvst-20231231.htm#1355698 Filing: 000176068924000007 Input fundies:CapitalExpenditure: 87862000 USD (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000176068924000007/mvst-20231231.htm#1265938 Filing: 000176068924000007 The citation records this snapshot. The page link may show a newer release later.
2022 2022-01-01 – 2022-12-31	−USD 158.2 million Exact value Exact value: -158200000 USD 2022-01-01 – 2022-12-31: -158200000 USD Inspect Net Income Open source Share or cite Citation for Net Income · Tuscan Holdings Corp. · 2022-12-31 Tuscan Holdings Corp. (edgar:1760689) Net Income: -158200000 USD Concept: fundies:NetIncome Period: 2022-01-01 to 2022-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3ANetIncome&period=2022-12-31&surface=latest&period_type=duration&start=2022-01-01&unit=USD&dimensions= Input fundies:NetIncome: -158200000 USD (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000176068925000010/mvst-20241231.htm#1103224 Filing: 000176068925000010 The citation records this snapshot. The page link may show a newer release later.	−USD 53.93 million Exact value Exact value: -53928000 USD 2022-01-01 – 2022-12-31: -53928000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Tuscan Holdings Corp. · 2022-12-31 Tuscan Holdings Corp. (edgar:1760689) Operating Cash Flow: -53928000 USD Concept: fundies:OperatingCashFlow Period: 2022-01-01 to 2022-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3AOperatingCashFlow&period=2022-12-31&surface=latest&period_type=duration&start=2022-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: -53928000 USD (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000176068925000010/mvst-20241231.htm#1402604 Filing: 000176068925000010 The citation records this snapshot. The page link may show a newer release later.	USD 150.88 million Exact value Exact value: 150880000 USD 2022-01-01 – 2022-12-31: 150880000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Tuscan Holdings Corp. · 2022-12-31 Tuscan Holdings Corp. (edgar:1760689) Capital Expenditure: 150880000 USD Concept: fundies:CapitalExpenditure Period: 2022-01-01 to 2022-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3ACapitalExpenditure&period=2022-12-31&surface=latest&period_type=duration&start=2022-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 150880000 USD (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000176068925000010/mvst-20241231.htm#1322407 Filing: 000176068925000010 The citation records this snapshot. The page link may show a newer release later.	−USD 204.81 million Calculation and evidence -53928000 − 150880000 USD Exact free cash flow: -204808000 USD 2022-01-01 – 2022-12-31: -53928000 USD · Inspect Operating Cash Flow · Source 2022-01-01 – 2022-12-31: 150880000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Tuscan Holdings Corp. · 2022-12-31 Tuscan Holdings Corp. (edgar:1760689) Free cash flow: -204808000 USD Concept: free-cash-flow Period: 2022-01-01 to 2022-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: -53928000 USD (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000176068925000010/mvst-20241231.htm#1402604 Filing: 000176068925000010 Input fundies:CapitalExpenditure: 150880000 USD (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000176068925000010/mvst-20241231.htm#1322407 Filing: 000176068925000010 The citation records this snapshot. The page link may show a newer release later.
2023 2023-01-01 – 2023-12-31	−USD 106.34 million Exact value Exact value: -106336000 USD 2023-01-01 – 2023-12-31: -106336000 USD Inspect Net Income Open source Share or cite Citation for Net Income · Tuscan Holdings Corp. · 2023-12-31 Tuscan Holdings Corp. (edgar:1760689) Net Income: -106336000 USD Concept: fundies:NetIncome Period: 2023-01-01 to 2023-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3ANetIncome&period=2023-12-31&surface=latest&period_type=duration&start=2023-01-01&unit=USD&dimensions= Input fundies:NetIncome: -106336000 USD (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#1110506 Filing: 000162828026018264 The citation records this snapshot. The page link may show a newer release later.	−USD 75.3 million Exact value Exact value: -75303000 USD 2023-01-01 – 2023-12-31: -75303000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Tuscan Holdings Corp. · 2023-12-31 Tuscan Holdings Corp. (edgar:1760689) Operating Cash Flow: -75303000 USD Concept: fundies:OperatingCashFlow Period: 2023-01-01 to 2023-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3AOperatingCashFlow&period=2023-12-31&surface=latest&period_type=duration&start=2023-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: -75303000 USD (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#1412259 Filing: 000162828026018264 The citation records this snapshot. The page link may show a newer release later.	USD 186.79 million Exact value Exact value: 186788000 USD 2023-01-01 – 2023-12-31: 186788000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Tuscan Holdings Corp. · 2023-12-31 Tuscan Holdings Corp. (edgar:1760689) Capital Expenditure: 186788000 USD Concept: fundies:CapitalExpenditure Period: 2023-01-01 to 2023-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3ACapitalExpenditure&period=2023-12-31&surface=latest&period_type=duration&start=2023-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 186788000 USD (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#1330537 Filing: 000162828026018264 The citation records this snapshot. The page link may show a newer release later.	−USD 262.09 million Calculation and evidence -75303000 − 186788000 USD Exact free cash flow: -262091000 USD 2023-01-01 – 2023-12-31: -75303000 USD · Inspect Operating Cash Flow · Source 2023-01-01 – 2023-12-31: 186788000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Tuscan Holdings Corp. · 2023-12-31 Tuscan Holdings Corp. (edgar:1760689) Free cash flow: -262091000 USD Concept: free-cash-flow Period: 2023-01-01 to 2023-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: -75303000 USD (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#1412259 Filing: 000162828026018264 Input fundies:CapitalExpenditure: 186788000 USD (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#1330537 Filing: 000162828026018264 The citation records this snapshot. The page link may show a newer release later.
2024 2024-01-01 – 2024-12-31	−USD 195.46 million Exact value Exact value: -195457000 USD 2024-01-01 – 2024-12-31: -195457000 USD Inspect Net Income Open source Share or cite Citation for Net Income · Tuscan Holdings Corp. · 2024-12-31 Tuscan Holdings Corp. (edgar:1760689) Net Income: -195457000 USD Concept: fundies:NetIncome Period: 2024-01-01 to 2024-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3ANetIncome&period=2024-12-31&surface=latest&period_type=duration&start=2024-01-01&unit=USD&dimensions= Input fundies:NetIncome: -195457000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#1109653 Filing: 000162828026018264 The citation records this snapshot. The page link may show a newer release later.	USD 2.81 million Exact value Exact value: 2814000 USD 2024-01-01 – 2024-12-31: 2814000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Tuscan Holdings Corp. · 2024-12-31 Tuscan Holdings Corp. (edgar:1760689) Operating Cash Flow: 2814000 USD Concept: fundies:OperatingCashFlow Period: 2024-01-01 to 2024-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3AOperatingCashFlow&period=2024-12-31&surface=latest&period_type=duration&start=2024-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 2814000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#1412018 Filing: 000162828026018264 The citation records this snapshot. The page link may show a newer release later.	USD 27.72 million Exact value Exact value: 27721000 USD 2024-01-01 – 2024-12-31: 27721000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Tuscan Holdings Corp. · 2024-12-31 Tuscan Holdings Corp. (edgar:1760689) Capital Expenditure: 27721000 USD Concept: fundies:CapitalExpenditure Period: 2024-01-01 to 2024-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3ACapitalExpenditure&period=2024-12-31&surface=latest&period_type=duration&start=2024-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 27721000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#1329945 Filing: 000162828026018264 The citation records this snapshot. The page link may show a newer release later.	−USD 24.91 million Calculation and evidence 2814000 − 27721000 USD Exact free cash flow: -24907000 USD 2024-01-01 – 2024-12-31: 2814000 USD · Inspect Operating Cash Flow · Source 2024-01-01 – 2024-12-31: 27721000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Tuscan Holdings Corp. · 2024-12-31 Tuscan Holdings Corp. (edgar:1760689) Free cash flow: -24907000 USD Concept: free-cash-flow Period: 2024-01-01 to 2024-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 2814000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#1412018 Filing: 000162828026018264 Input fundies:CapitalExpenditure: 27721000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#1329945 Filing: 000162828026018264 The citation records this snapshot. The page link may show a newer release later.
2025 2025-01-01 – 2025-12-31	−USD 29.22 million Exact value Exact value: -29218000 USD 2025-01-01 – 2025-12-31: -29218000 USD Inspect Net Income Open source Share or cite Citation for Net Income · Tuscan Holdings Corp. · 2025-12-31 Tuscan Holdings Corp. (edgar:1760689) Net Income: -29218000 USD Concept: fundies:NetIncome Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3ANetIncome&period=2025-12-31&surface=latest&period_type=duration&start=2025-01-01&unit=USD&dimensions= Input fundies:NetIncome: -29218000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#1108802 Filing: 000162828026018264 The citation records this snapshot. The page link may show a newer release later.	USD 75.91 million Exact value Exact value: 75908000 USD 2025-01-01 – 2025-12-31: 75908000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · Tuscan Holdings Corp. · 2025-12-31 Tuscan Holdings Corp. (edgar:1760689) Operating Cash Flow: 75908000 USD Concept: fundies:OperatingCashFlow Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3AOperatingCashFlow&period=2025-12-31&surface=latest&period_type=duration&start=2025-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 75908000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#1411823 Filing: 000162828026018264 The citation records this snapshot. The page link may show a newer release later.	USD 19.83 million Exact value Exact value: 19834000 USD 2025-01-01 – 2025-12-31: 19834000 USD Inspect Capital Expenditure Open source Share or cite Citation for Capital Expenditure · Tuscan Holdings Corp. · 2025-12-31 Tuscan Holdings Corp. (edgar:1760689) Capital Expenditure: 19834000 USD Concept: fundies:CapitalExpenditure Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689/explain?concept=fundies%3ACapitalExpenditure&period=2025-12-31&surface=latest&period_type=duration&start=2025-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditure: 19834000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#1329354 Filing: 000162828026018264 The citation records this snapshot. The page link may show a newer release later.	USD 56.07 million Calculation and evidence 75908000 − 19834000 USD Exact free cash flow: 56074000 USD 2025-01-01 – 2025-12-31: 75908000 USD · Inspect Operating Cash Flow · Source 2025-01-01 – 2025-12-31: 19834000 USD · Inspect Capital Expenditure · Source Share or cite Citation for Free cash flow · Tuscan Holdings Corp. · 2025-12-31 Tuscan Holdings Corp. (edgar:1760689) Free cash flow: 56074000 USD Concept: free-cash-flow Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T05:33:31Z Snapshot: 35801a0e04c3fa94d6bb81ac78f45d4f0bb4e9eb4493931680698238f7fa5436 Dimensions: Consolidated View: https://fundies.io/companies/edgar/1760689?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 75908000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#1411823 Filing: 000162828026018264 Input fundies:CapitalExpenditure: 19834000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1760689/000162828026018264/mvst-20251231.htm#1329354 Filing: 000162828026018264 The citation records this snapshot. The page link may show a newer release later.

Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

38 filings · 2,237 latest values · 2,237 originally reported values

Dataset published 2026-11-02. Source filing dates and reporting periods are shown separately.

Identifiers: 0001760689, 1760689, MVST, THCB, edgar:1760689

Also known as MICROVAST HOLDINGS, INC., Microvast Holdings, Inc., TUSCAN HOLDINGS CORP., Tuscan Holdings Corp.

Tuscan Holdings Corp.

Latest quarter

Revenue

Operating margin

Operating cash flow

Free cash flow

Reported share-count change

Trailing twelve months

Revenue

Capital expenditure

Company performance

What changed year over year

Revenue

Net income

Operating cash flow

Capital expenditure

Where revenue goes

2025 2025-01-01 – 2025-12-31

Cash

Share of revenue by period

Growth

Profit and cash

Balance sheet

Cash generation