Workhorse Q3 revenue $3.0M, net loss $30.6M; cuts FY23 revenue guidance to $10-15M

Workhorse Group Inc.

2023-Q3 EPS reported -$0.41 revenue$8,688,423

Q3 sales $3.0M (incl. $2.4M sales allowance reversal) vs $1.5M YoY; net loss $30.6M vs $35.4M YoY.
Cash $38.9M; working capital $71.9M; exploring additional financing to support growth.
FY23 revenue guidance cut to $10-15M due to HVIP voucher delays in California; HVIP issue resolved on Nov 8 with CARB approval.
W56 production launched; W750 at 4/week; paused W4 CC; evaluating strategic alternatives for Aero business including sale.
Added 2 dealers, IRS approval for up to $40K federal tax credit per EV; sold 3 drones to UPS for FAA certification.

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 0.95

Workhorse Group Inc. reported the third quarter ended September 30, 2023 results: revenue $3.0 million.

Period: the third quarter ended September 30, 2023
Revenue: $3.0 million
Result: reported results

Exact text from the filing

Sales, net of returns and allowances, for the third quarter of 2023 were recorded at $3.0 million compared to $1.5 million in the same period last year.

View on SEC.gov

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

Workhorse Group Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-038784

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.