Workhorse Q1 revenue jumps to $1.7M; net loss widens to $25M; reaffirms FY23 revenue guidance $75-125M

Workhorse Group Inc.

2023-Q1 EPS reported -$0.15 revenue$1,693,415

Revenue $1.7M vs $14.3K YoY; net loss $25.0M vs $22.1M YoY.
Cash and equivalents $79.1M as of March 31, 2023.
Reaffirms 2023 revenue guidance of $75-125M; expects production ramp to drive growth.
W4 CC production at 16 units/week, target 25/week by Q3; W750 pilot builds complete, start of production Q2.
Delivered 10 W4 CC trucks in Q1; additional 40 trucks from inventory being delivered under purchase order.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Workhorse Group Inc. reported first quarter ended March 31, 2023 results: revenue $1.7 million.

Period: first quarter ended March 31, 2023
Revenue: $1.7 million
Result: reported results

Exact text from the filing

Sales, net of returns and allowances, for the first quarter of 2023 increased to $1.7 million compared to $14.3 thousand in the same period last year.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

Workhorse Group Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-018009

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