MVST (MVST) financial statements
MVST reported revenue of $428M in fiscal 2025, up 33.2% a year over 6 years.
Net income was -$29M and the operating margin 1.6%, against -70.5% in 2019.
Free cash flow was $56M.
The diluted share count rose 3974% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from MVST's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $76M | $108M | $152M | $204M | $307M | $380M | $428M |
| Cost of revenue | $77M | $90M | $195M | $195M | $249M | $260M | — |
| Gross profit | -$231,000 | $17M | -$43M | $9M | $57M | $120M | $122M |
| Research and development | $26M | $17M | $34M | $44M | $45M | $41M | $34M |
| Selling, general and admin | $31M | $33M | $123M | $125M | $120M | $104M | $80M |
| Operating income | -$54M | -$29M | -$194M | -$160M | -$107M | -$116M | $7M |
| Interest expense | $6M | $6M | $5M | $3M | $3M | $10M | $5M |
| Pre-tax income | -$59M | -$34M | -$206M | -$158M | -$106M | -$195M | -$35M |
| Income tax | $189,000 | $1,000 | $0 | $33,000 | $10,000 | $0 | -$5M |
| Net income | $3M | -$2M | -$206M | -$158M | -$106M | -$195M | -$29M |
| EPS (diluted) | -$0.07 | -$0.82 | -$1.26 | -$0.52 | -$0.34 | -$0.61 | -$0.09 |
| Diluted shares | 8M | 99M | 186M | 303M | 311M | 318M | 325M |
| Gross margin | -0.3% | 15.9% | -28.1% | 4.4% | 18.7% | 31.5% | 28.6% |
| Operating margin | -70.5% | -27.1% | -127.7% | -78.2% | -34.8% | -30.6% | 1.6% |
| Net margin | 4.4% | -2.3% | -135.9% | -77.4% | -34.7% | -51.5% | -6.8% |
Balance sheet
Fiscal years, from MVST's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $280M | $21M | $481M | $256M | $50M | $73M | $105M |
| Receivables | — | $21M | $89M | $119M | $139M | $121M | $156M |
| Inventory | — | $45M | $53M | $84M | $150M | $143M | $89M |
| Total current assets | $396,368 | $189M | $707M | $545M | $426M | $428M | $449M |
| Property, plant and equipment | — | $198M | $253M | $335M | $621M | $478M | $508M |
| Total assets | $280M | $405M | $995M | $985M | $1.1B | $952M | $1.0B |
| Total current liabilities | $269,055 | $184M | $176M | $252M | $403M | $330M | $488M |
| Total liabilities | $701,454 | $389M | $309M | $372M | $533M | $564M | $595M |
| Shareholders' equity | $5M | $5M | $687M | $613M | $564M | $388M | $411M |
| Net debt | -$140,303 | -$21M | -$481M | -$231M | -$45M | -$73M | -$105M |
Cash flow
Fiscal years, from MVST's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $13M | $16M | -$45M | -$54M | -$75M | $3M | $76M |
| Capital spending | $20M | $19M | $88M | $151M | $187M | $28M | $20M |
| Free cash flow | -$7M | -$3M | -$133M | -$205M | -$262M | -$25M | $56M |
| Stock-based compensation | — | $0 | $83M | $91M | $65M | $31M | $3M |
| Net borrowing | $18M | $17M | $39M | $59M | $48M | $102M | $86M |
| Free cash flow margin | -9.0% | -2.9% | -87.4% | -100.2% | -85.5% | -6.6% | 13.1% |
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Open MVST in InvestinglyQuestions
What was MVST's revenue in 2025?
$428M in fiscal 2025, from its 10-K filing.
How much free cash flow does MVST generate?
$56M in fiscal 2025 (operating cash flow minus capital spending).
From MVST's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.