secwatch.observer — SEC 8-K summary
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Issuer:     Workhorse Group Inc. (WKHS)
CIK:        0001425287
Form:       8-K
Filed at:   2023-11-14T23:59:59+00:00
Accession:  0001628280-23-038784
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1425287/000162828023038784/0001628280-23-038784-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1425287/000162828023038784/wkhs-20231114.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-038784

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