WORKHORSE GROUP INC.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $21.2M | $7.0M | $13.1M | $5.0M | $-851.9K | $1.4M | $376.6K | $763.2K |
| Cost of Revenue | $30.8M | $13.2M | $38.4M | $37.7M | $132.5M | $13.1M | $5.8M | $8.0M |
| Gross Profit | $-9.6M | $-6.1M | $-25.3M | $-32.6M | $-133.3M | $-11.7M | $-5.5M | $-15.2M |
| Gross Margin | -45.0% | -87.3% | -192.9% | -650.0% | 15,652.1% | -838.4% | -1,452.2% | -1,990.4% |
| Operating Expenses | ||||||||
| Research & Development | $13.2M | $12.9M | $24.5M | $23.2M | $11.6M | $9.1M | $8.2M | $7.4M |
| SG&A Expense | $24.7M | $16.0M | $55.6M | $73.2M | $40.2M | $20.2M | $10.2M | $11.5M |
| Operating Income | $-47.4M | $-41.3M | $-105.3M | $-129.1M | $-185.1M | $-41.0M | $-23.9M | $-34.1M |
| Operating Margin | -223.7% | -586.7% | -804.1% | -2,569.8% | 21,729.1% | -2,943.0% | -6,338.1% | -4,463.9% |
| Interest Expense | — | — | — | — | — | $190.5M | $29.1M | $2.4M |
| Pretax Income | $-64.1M | $-51.6M | $-124.0M | $-117.3M | $-423.2M | $91.6M | $-37.2M | $-36.5M |
| Income Tax Expense | $4.0K | $1.0K | $-110.5K | $0 | $-21.8M | $21.8M | $0 | $0 |
| Net Income | $-64.1M | $-51.6M | $-123.9M | $-117.3M | $-401.3M | $69.8M | $-37.2M | $-36.5M |
| Net Margin | -302.1% | -732.4% | -946.3% | -2,334.7% | 47,110.5% | 5,010.8% | -9,869.0% | -4,783.0% |
| EPS (Basic) | $-6.76 | $-9.43 | $-149.45 | $-0.74 | $-3.12 | $0.75 | $-0.58 | — |
| EPS (Diluted) | $-6.76 | $-9.43 | $-149.45 | $-0.74 | $-3.12 | $0.70 | $-0.58 | — |
| Shares Outstanding (Basic) | 9.5M | 5.5M | 207.3M | 158.6M | 128.7M | 92.9M | 64.3M | 50.4M |
| Shares Outstanding (Diluted) | 9.5M | 5.5M | 207.3M | 158.6M | 128.7M | 99.9M | 64.3M | 50.4M |
| Dividends Per Share | — | — | — | — | — | — | — | — |