MVSTMicrovast Holdings, Inc.
Miscellaneous Electrical Machinery, Equipment & Supplies
- Revenue
- $428M
- 13% YoY
- Operating margin
- 1.6%
- 105% YoY
- EBITDA
- $7M
- 106% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- -1.3×
- −$9M net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCClear1% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear—Over 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $152M | $204M | $307M | $380M | $428M | 13% |
| Operating income | −$194M | −$160M | −$107M | −$116M | $7M | 106% |
| Net income | −$206M | −$158M | −$106M | −$195M | −$29M | 85% |
| Operating cash flow | −$45M | −$54M | −$75M | $3M | $76M | 2598% |
| Capex | $88M | $151M | $187M | $28M | $20M | 28% |
| Stock-based comp | $83M | $91M | $65M | $31M | $3M | 90% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $4M | $2M | 183 | 216 |
| FY2024 | $1M | $1M | 135 | 160 |
| FY2023 | $649K | $554K | 92 | 127 |