Workhorse Group, Inc.
Income Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.6M | $4.3M | $16.9M | $2.4M | $750.0K | $1.1M | $2.4M | $2.5M |
| Cost of Revenue | $11.0M | $11.8M | $16.3M | $10.1M | $2.1M | $2.2M | $-8.2M | $6.6M |
| Gross Profit | $-7.5M | $-7.5M | $590.6K | $-7.7M | $-1.4M | $-1.1M | $10.5M | $-4.1M |
| Gross Margin | -209.8% | -172.8% | 3.5% | -323.2% | -181.2% | -94.2% | 448.4% | -164.7% |
| Operating Expenses | ||||||||
| Research & Development | $4.1M | $4.1M | $5.2M | $1.1M | $3.2M | $3.7M | $5.1M | $2.3M |
| SG&A Expense | $7.8M | $9.5M | $8.1M | $7.8M | $4.5M | $4.3M | $-17.8M | $7.7M |
| Operating Income | $-19.4M | $-21.1M | $-12.8M | $-16.6M | $-9.0M | $-9.1M | $17.1M | $-14.2M |
| Operating Margin | -545.2% | -487.3% | -75.5% | -694.2% | -1,203.3% | -792.9% | 726.2% | -564.5% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $-20.2M | $-19.9M | $-30.8M | $-7.8M | $-12.8M | $-12.7M | $29.0M | $-25.1M |
| Income Tax Expense | $0 | $-34.0K | $4.0K | $0 | $0 | $0 | $1.0K | $0 |
| Net Income | $-20.2M | $-19.9M | $-30.8M | $-7.8M | $-12.8M | $-12.7M | $29.0M | $-25.1M |
| Net Margin | -566.3% | -459.3% | -181.6% | -328.2% | -1,712.9% | -1,105.3% | 1,233.7% | -1,001.5% |
| EPS (Basic) | $-1.86 | $-1.99 | $-3.52 | $-0.50 | $-1.38 | $-1.36 | $51.11 | $-19.00 |
| EPS (Diluted) | $-1.86 | $-1.99 | $-3.52 | $-0.50 | $-1.38 | $-1.36 | $51.11 | $-19.00 |
| Shares Outstanding (Basic) | 10.9M | 10.0M | 9.5M | 15.5M | 9.3M | 9.3M | 5.5M | 1.3M |
| Shares Outstanding (Diluted) | 10.9M | 10.0M | 9.5M | 15.5M | 9.3M | 9.3M | 5.5M | 1.3M |
| Dividends Per Share | — | — | — | — | — | — | — | — |