Workhorse Group Inc.WKHSEarnings & Financial Report
Workhorse Group is an original equipment manufacturer and technology company headquartered in Sharonville, Ohio, USA. In 2025, it merged its operations with those of Motiv Electric Trucks, forming a new entity known as Workhorse.
Revenue
$842.4K
Gross Profit
$-6.5M
Operating Profit
$-20.5M
Net Profit
$-26.3M
Gross Margin
-766.7%
Operating Margin
-2435.6%
Net Margin
-3124.3%
YoY Growth
-78.8%
EPS
$-1.40
Financial Flow
Workhorse Group Inc. Q2 2024 Financial Summary
Workhorse Group Inc. reported revenue of $842.4K (down 78.8% YoY) for Q2 2024, with a net profit of $-26.3M (down 14.3% YoY) (-3124.3% margin). Cost of goods sold was $7.3M, operating expenses totaled $14.1M.
Key Financial Metrics
| Total Revenue | $842.4K |
|---|---|
| Net Profit | $-26.3M |
| Gross Margin | -766.7% |
| Operating Margin | -2435.6% |
| Report Period | Q2 2024 |
Workhorse Group Inc. Annual Revenue by Year
Workhorse Group Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $21.2M).
| Year | Annual Revenue |
|---|---|
| 2025 | $21.2M |
| 2024 | $7.0M |
| 2023 | $13.1M |
| 2022 | $5.0M |
Workhorse Group Inc. Quarterly Revenue & Net Profit History
Workhorse Group Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 2025 | $12.5M | +432.0% | $-20.8M | -166.5% |
| Q3 2025 | $2.4M | -5.0% | $-7.8M | -328.2% |
| Q2 2025 | $5.7M | +573.0% | $-14.8M | -260.7% |
| Q1 2025 | $640.9K | -52.1% | $-20.6M | -3221.0% |
| Q4 2024 | $2.4M | -46.6% | $29.0M | 1233.7% |
| Q3 2024 | $2.5M | -17.1% | $-25.1M | -1001.5% |
| Q2 2024 | $842.4K | -78.8% | $-26.3M | -3124.3% |
| Q1 2024 | $1.3M | -20.9% | $-29.2M | -2177.0% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.3M | $842440 | $2.5M | $2.4M | $640922 | $5.7M | $2.4M | $12.5M |
| YoY Growth | -20.9% | -78.8% | -17.1% | -46.6% | -52.1% | 573.0% | -5.0% | 432.0% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $113.9M | $105.4M | $101.4M | $37.4M | $115.5M | $99.3M | $116.7M | $117.9M |
| Liabilities | $46.4M | $46.7M | $54.2M | $78.2M | $84.1M | $76.9M | $84.7M | $74.8M |
| Equity | $67.4M | $58.6M | $47.3M | $-40.8M | $31.4M | $22.3M | $32.1M | $43.0M |
Cash Flow
| Q1 2024 | Q4 2024 | Q1 2025 | Q4 2025 | |
|---|---|---|---|---|
| Operating CF | $-18.0M | $2.0M | $-8.2M | $-10.5M |