Workhorse Group, Inc.
Balance Sheet
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & Equivalents | $12.9M | $6.6M | $25.8M | $99.3M | $201.6M | $46.8M | $23.9M | $1.5M |
| Accounts Receivable | $3.9M | $3.6M | $2.3M | $2.1M | $149.8K | $1.0M | $7.9K | $0 |
| Inventory | $39.1M | $21.4M | $45.4M | $8.9M | $10.1M | $15.5M | $1.8M | $2.5M |
| Total Current Assets | $59.8M | $34.2M | $93.8M | $139.4M | $216.2M | $290.5M | $31.5M | $6.4M |
| Property, Plant & Equipment | $22.5M | $2.1M | $37.9M | $21.5M | $7.9M | $11.4M | $6.8M | $5.2M |
| Goodwill | $3.1M | $0 | $0 | — | — | — | — | — |
| Intangible Assets (Excl. Goodwill) | $10.2M | $0 | — | — | — | — | — | — |
| Total Assets | $117.9M | $37.4M | $141.7M | $182.7M | $228.1M | $632.5M | $50.7M | $11.8M |
| Liabilities | ||||||||
| Accounts Payable | $11.6M | $2.1M | $12.5M | $10.2M | $7.8M | $4.8M | $1.7M | $4.3M |
| Total Current Liabilities | $38.9M | $76.9M | $53.3M | $63.3M | $27.6M | $17.6M | $47.0M | $18.9M |
| Long-Term Debt | — | — | — | — | — | — | $19.4M | $8.3M |
| Total Liabilities | $74.9M | $78.2M | $58.6M | $74.2M | $53.4M | $237.3M | $85.6M | $27.2M |
| Stockholders' Equity | ||||||||
| Retained Earnings | $-319.0M | $-254.9M | $-751.6M | $-627.6M | $-510.4M | $-109.0M | $-178.8M | $-141.6M |
| Total Stockholders' Equity | $43.0M | $-40.8M | $-55.6M | $108.6M | $174.7M | $395.2M | $-34.9M | $-15.4M |