---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-038784"
form_type: "8-K"
ticker: "WKHS"
cik: "0001425287"
company_name: "Workhorse Group Inc."
filed_at: "2023-11-14T23:59:59+00:00"
generated_at: "2026-06-08T03:21:42.303601+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-23-038784
- form_type: 8-K
- ticker: WKHS
- cik: 0001425287
- company_name: Workhorse Group Inc.
- filed_at: 2023-11-14T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1425287/000162828023038784/0001628280-23-038784-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1425287/000162828023038784/wkhs-20231114.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-038784
- JSON: https://secwatch.observer/filing/0001628280-23-038784.json
- Plain text: https://secwatch.observer/filing/0001628280-23-038784.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1425287/000162828023038784/0001628280-23-038784-index.htm

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