secwatch.observer — SEC 8-K summary
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Issuer:     Workhorse Group Inc. (WKHS)
CIK:        0001425287
Form:       8-K
Filed at:   2024-08-20T23:59:59+00:00
Accession:  0001213900-24-070922
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Workhorse Q2 sales drop to $0.8M, net loss widens to $26.3M; deferred revenue expected in H2
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- Q2 2024 sales $0.8M vs $4.0M YoY; net loss $26.3M vs $23.0M YoY; cash $5.3M at June 30.
- Deferred revenue of $2.3M from 30 W4CC trucks due to CARB HVIP delays; expects recognition in H2 2024.
- Completed Aero divestiture on June 6, 2024, generating ~$0.4M monthly cost savings.
- Regained NASDAQ compliance via 1-for-20 reverse stock split effective June 17, 2024.
- Expanding W56 line: 208-in wheelbase model expected Q4 2024; first order received; dealer network at 13.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1425287/000121390024070922/0001213900-24-070922-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1425287/000121390024070922/ea0211839-8k_workhorse.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-070922

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer