Workhorse Q1 revenue $4.3M, 21 vehicles delivered; net loss widens to $19.9M

Workhorse Group Inc.

2026-Q1 EPS reported -$1.99 revenue$4,329,000

Revenue $4.3M vs $1.1M YoY; delivered 21 vehicles vs 5 in Q1 2025.
Net loss $19.9M ($1.99/share) vs $12.7M ($1.36/share) in prior year.
Operating loss $21.1M vs $9.1M; gross loss $7.5M on higher volume.
100-vehicle W56 order from Gateway Fleets; deliveries start July 2026; backlog 200+ vehicles.
Targeting $20M annualized cost synergy run rate by end of 2026; facility consolidation done.

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