secwatch.observer — SEC 8-K summary
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Issuer:     Workhorse Group Inc. (WKHS)
CIK:        0001425287
Form:       8-K
Filed at:   2025-05-15T23:59:59+00:00
Accession:  0001213900-25-043664
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Workhorse Q1 sales fall 54% to $0.6M; Q2 shipments accelerate to 18 trucks
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- Net sales $0.6M vs $1.3M YoY, driven by Aero divestiture and lower truck sales.
- Operating expenses (SG&A+R&D) decreased $9.3M YoY to $8.3M on headcount and cost cuts.
- Cash and cash equivalents $2.6M; restricted cash $27.9M; inventory $41.3M as of March 31.
- Shipped 18 trucks in Q2 to date (6x Q1 volume); targeting more than full-year 2024 in Q2 alone.
- Regained Nasdaq compliance on April 2 after 1-for-12.5 reverse stock split effective March 17.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1425287/000121390025043664/0001213900-25-043664-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1425287/000121390025043664/ea024223701-8k_workhorse.htm
  HTML page:      https://secwatch.observer/filing/0001213900-25-043664

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