Workhorse Group Inc. financials
Source: EDGAR filings · Built 2026-06-17T19:11:37Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -36.16M | -43.74M | -142.59M | -112.17M | -137.89M | -76.01M |
| EBITDA | -46.20M | -40.51M | -101.24M | -127.14M | -183.21M | -40.17M |
| Working Capital | 20.97M | -42.74M | 40.54M | 76.05M | 188.67M | 272.90M |
| Net Debt | 25.58M | 63.26M | 59.28M | -89.15M | -200.09M | -45.41M |
| Gross Margin | -45.05% | -87.25% | -192.87% | -649.99% | 15652.14% | -838.38% |
| Operating Margin | -223.66% | -586.74% | -804.13% | -2569.80% | 21729.08% | -2942.95% |
| Net Margin | -302.14% | -732.37% | -946.33% | -2334.71% | 47110.51% | 5010.81% |
| Return on Equity (ROE) | -148.89% | 126.38% | 222.73% | -108.00% | -229.74% | 17.66% |
| Return on Assets (ROA) | -54.36% | -137.91% | -87.47% | -64.17% | -175.92% | 11.03% |
| Current Ratio | 1.54× | 0.44× | 1.76× | 2.20× | 7.85× | 16.51× |
| Debt-to-Equity | 0.88× | -1.71× | -1.53× | 0.09× | 0.01× | 0.00× |
| Effective Tax Rate | -0.01% | -0.00% | 0.09% | 0.00% | 5.16% | 23.83% |
| Cash Conversion Ratio | 0.55× | 0.74× | 0.99× | 0.80× | 0.33× | -1.01× |
| Accruals Ratio | -0.24× | -0.36× | -0.01× | -0.13× | -1.18× | 0.22× |
| SBC % of Revenue | 3.20% | 7.88% | 102.50% | 228.15% | -580.26% | 288.74% |
| CapEx Coverage | -58.96× | -6.83× | -6.29× | -5.11× | -24.95× | -12.27× |
| Free Cash Flow Per Share | $-3.82 | $-8.00 | $-171.97 | $-0.71 | $-1.07 | $-0.76 |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 21.21M | 7.04M | 13.09M | 5.02M | -851.92K | 1.39M |
| Cost of Revenue | 30.77M | 13.19M | 38.35M | 37.67M | 132.49M | 13.07M |
| Gross Profit | -9.55M | -6.15M | -25.26M | -32.65M | -133.34M | -11.67M |
| Research and Development Expense | 13.16M | 12.89M | 24.47M | 23.21M | 11.61M | 9.15M |
| Selling, General and Administrative Expense | 24.72M | 16.05M | 55.57M | 73.22M | 40.16M | 20.16M |
| Operating Expenses | 37.88M | 35.18M | 80.04M | 96.43M | 51.77M | 29.31M |
| Operating Income (Loss) | -47.44M | -41.33M | -105.30M | -129.08M | -185.11M | -40.98M |
| Income Tax Expense (Benefit) | 4.00K | 1.00K | -110.52K | 0 | -21.85M | 21.83M |
| Net Income (Loss) Attributable to Parent | -64.09M | -51.59M | -123.92M | -117.27M | -401.34M | 69.78M |
| Earnings Per Share, Basic | $-6.76 | $-9.43 | $-149.45 | $-0.74 | $-3.12 | $0.75 |
| Weighted Average Number of Shares Outstanding, Basic | 9.47M | 5.47M | 829,173 | 158.58M | 128.68M | 92.87M |
| Earnings Per Share, Diluted | $-6.76 | $-9.43 | $-149.45 | $-0.74 | $-3.12 | $0.70 |
| Weighted Average Number of Shares Outstanding, Diluted | 9.47M | 5.47M | 829,173 | 158.58M | 128.68M | 99.95M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 12.24M | 6.63M | 25.85M | 99.28M | 201.65M | 46.82M |
| Assets, Current | 59.82M | 34.17M | 93.83M | 139.36M | 216.22M | 290.49M |
| Assets | 117.89M | 37.41M | 141.67M | 182.74M | 228.14M | 632.54M |
| Long-term Debt | 15.43M | — | — | — | — | — |
| Liabilities, Current | 38.85M | 76.92M | 53.28M | 63.31M | 27.55M | 17.60M |
| Liabilities | 74.85M | 78.23M | 58.56M | 74.16M | 53.45M | 237.34M |
| Stockholders' Equity Attributable to Parent | 43.04M | -40.82M | -55.64M | 108.59M | 174.69M | 395.20M |
| Common Stock, Shares, Outstanding | 9.70M | 3.84M | 1.14M | 165.61M | 151.92M | 121.92M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -35.55M | -38.15M | -123.02M | -93.82M | -132.58M | -70.28M |
| Payments to Acquire Property, Plant, and Equipment | 603.00K | 4.76M | 18.69M | 17.50M | 5.31M | 5.73M |
| Net Cash Provided by (Used in) Investing Activities | 9.83M | -4.76M | -18.69M | -20.02M | 99.81M | -5.73M |
| Net Cash Provided by (Used in) Financing Activities | 32.02M | 45.29M | 78.28M | 11.47M | -6.82M | 292.37M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -16.64M | -11.14M | -25.01M | -14.03M | -12.65M | 1.23M |
| EBITDA | -19.08M | -7.93M | — | — | -8.88M | 11.94M |
| Working Capital | 8.73M | 20.97M | 12.53M | -9.79M | -2.84M | -42.74M |
| Net Debt | 42.30M | 25.58M | 41.34M | 42.35M | 48.05M | 63.26M |
| Gross Margin | -172.83% | 80.37% | -323.17% | -130.20% | -94.24% | 448.42% |
| Operating Margin | -487.32% | -28.56% | -694.17% | -255.28% | -792.93% | 726.16% |
| Net Margin | -459.27% | -166.46% | -328.21% | -260.71% | -1105.33% | 1233.70% |
| Return on Equity (ROE) | -75.91% | -48.40% | -24.41% | -66.14% | 23.71% | -71.10% |
| Return on Assets (ROA) | -19.35% | -17.67% | -6.71% | -14.89% | -10.96% | 77.59% |
| Current Ratio | 1.23× | 1.54× | 1.21× | 0.87× | 0.96× | 0.44× |
| Debt-to-Equity | 1.64× | 0.88× | 1.69× | 1.99× | -0.95× | -1.71× |
| Effective Tax Rate | 0.17% | -0.02% | 0.00% | 0.00% | 0.00% | 0.00% |
| Cash Conversion Ratio | 0.83× | 0.51× | 3.20× | 0.95× | 0.99× | 0.07× |
| Accruals Ratio | -0.03× | -0.09× | 0.15× | -0.01× | -0.00× | 0.72× |
| SBC % of Revenue | 0.00% | -7.12% | 65.78% | 20.11% | 9.26% | -325.25% |
| CapEx Coverage | -132.12× | -17.48× | — | — | -74.33× | 2.67× |
| Free Cash Flow Per Share | $-1.66 | $-1.18 | $-1.61 | $-1.59 | $-1.36 | $0.22 |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 4.33M | 12.52M | 2.38M | 5.67M | 1.15M | 2.35M |
| Cost of Revenue | 11.81M | 2.46M | 10.09M | 13.05M | 2.22M | -8.20M |
| Gross Profit | -7.48M | 10.06M | -7.71M | -7.38M | -1.08M | 10.55M |
| Research and Development Expense | 4.07M | 9.31M | 1.08M | 1.25M | 3.66M | 5.06M |
| Selling, General and Administrative Expense | 9.54M | 4.32M | 7.77M | 5.84M | 4.34M | -17.84M |
| Operating Expenses | 13.61M | 13.63M | 8.85M | 7.09M | 8.00M | -6.53M |
| Operating Income (Loss) | -21.10M | -3.57M | -16.56M | -14.47M | -9.08M | 17.08M |
| Income Tax Expense (Benefit) | -34.00K | 4.00K | 0 | 0 | 0 | 1.00K |
| Net Income (Loss) Attributable to Parent | -19.88M | -20.83M | -7.83M | -14.78M | -12.66M | 29.02M |
| Earnings Per Share, Basic | $-1.99 | $47.12 | $-0.50 | $-1.67 | $-1.36 | $742.97 |
| Weighted Average Number of Shares Outstanding, Basic | 10.01M | 9.47M | 15.54M | 8.83M | 9.33M | 5.47M |
| Earnings Per Share, Diluted | $-1.99 | $47.12 | $-0.50 | $-1.67 | $-1.36 | $742.97 |
| Weighted Average Number of Shares Outstanding, Diluted | 10.01M | 9.47M | 15.54M | 8.83M | 9.33M | 5.47M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 600.00K | 12.24M | 12.73M | 2.19M | 2.64M | 6.63M |
| Assets, Current | 47.03M | 59.82M | 72.96M | 63.69M | 77.54M | 34.17M |
| Assets | 102.74M | 117.89M | 116.74M | 99.25M | 115.48M | 37.41M |
| Long-term Debt | 15.68M | 15.43M | — | — | — | — |
| Liabilities, Current | 38.30M | 38.85M | 60.43M | 73.48M | 80.39M | 76.92M |
| Liabilities | 76.54M | 74.85M | 84.67M | 76.91M | 84.09M | 78.23M |
| Stockholders' Equity Attributable to Parent | 26.19M | 43.04M | 32.07M | 22.35M | -53.37M | -40.82M |
| Common Stock, Shares, Outstanding | 10.45M | 9.70M | 21.28M | 10.59M | 5.76M | 3.84M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -16.52M | -10.54M | -25.01M | -14.03M | -12.49M | 1.96M |
| Payments to Acquire Property, Plant, and Equipment | 125.00K | 603.00K | 0 | 0 | 168.00K | 733.43K |
| Net Cash Provided by (Used in) Investing Activities | -125.00K | -9.64M | 19.47M | 0 | -168.00K | -733.43K |
| Net Cash Provided by (Used in) Financing Activities | 5.00M | -7.08M | 39.10M | 34.10M | 10.00M | 33.74M |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (WKHS CIK 0001425287),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.