---
schema_version: "secwatch.filing_event.v1"
accession: "0001425287-24-000070"
form_type: "8-K"
ticker: "WKHS"
cik: "0001425287"
company_name: "Workhorse Group Inc."
filed_at: "2024-03-12T23:59:59+00:00"
generated_at: "2026-06-04T22:58:21.568189+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Workhorse reports Q4 net loss $45.3M, cuts 20% of workforce, seeks financing

## Summary
- Q4 2023 sales $4.4M (up 29% YoY), net loss $45.3M vs $38.7M loss a year ago.
- Full-year 2023 net loss $123.9M on sales $13.1M; cash $25.8M at Dec 31.
- Reducing ~20% of non-direct-labor workforce; executives deferring 20% of cash comp for 3 months.
- Transitioning Aero to Drones-as-a-Service; halting drone production and design.
- Negotiating financing for liquidity; Union City sale/leaseback expected to close May 2024.

## SEC filing metadata
- accession: 0001425287-24-000070
- form_type: 8-K
- ticker: WKHS
- cik: 0001425287
- company_name: Workhorse Group Inc.
- filed_at: 2024-03-12T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1425287/000142528724000070/0001425287-24-000070-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1425287/000142528724000070/wkhs-20240312.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001425287-24-000070
- JSON: https://secwatch.observer/filing/0001425287-24-000070.json
- Plain text: https://secwatch.observer/filing/0001425287-24-000070.txt

## Key facts
- Earnings Releases
  Workhorse Group Inc. reported financial results for the quarter and year ended December 31, 2023.
  - Period: the quarter and year ended December 31, 2023
  - Result: reported results
  source text: On March 12, 2024, Workhorse Group Inc. (the "Company") issued a press release regarding its financial results for the quarter and year ended December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1425287/000142528724000070/0001425287-24-000070-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.