Motiv restates 2024 EPS on weighted share error; FY24 loss $51.6M, revenue down 58%

Workhorse Group Inc.

Restated 2024 loss per share from $74.1 to $9.4; weighted avg shares corrected to 5.47M due to omitted preferred conversion and reverse split.
FY2024 net loss $51.6M (widened from $46.8M in 2023); revenue fell 58% to $7.0M from $16.9M.
As of Dec 31, 2024, Motiv had $6.6M cash, $76.9M current liabilities, $254.9M accumulated deficit; auditor cites substantial going-concern doubt.
Pro forma combined statements for Workhorse+Motiv filed as of Sep 30, 2025; merger closed Dec 15, 2025.

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