Workhorse Group Inc
NASDAQ:WKHS
Workhorse Group Inc
Workhorse Group, Inc. is a technology company, which engages in the provision of sustainable solutions to the commercial transportation sector. The company is headquartered in Loveland, Ohio and currently employs 221 full-time employees. The company went IPO on 2009-07-14. The firm designs and manufactures all-electric delivery trucks and drone systems, including the technology that optimizes the way these vehicles operate. The company is an original equipment manufacturer, and its products are marketed under the Workhorse brand. All Workhorse last-mile delivery trucks are assembled in its Union City, Indiana production facility. Its products offering includes delivery vans, delivery drones and telematics. Its C-Series Vans are all-electric by design, with composite technology, and an approximately 100-mile range. Its delivery drones designed to be fully autonomous, as well as work in tandem with its all-electric delivery vans. This custom-built drone technology helps to deliver safety and efficiency to the doorstep. Its in-house, integrated system has information on approximately 8.5 million miles of tracking approximately 350 vehicles.
Workhorse Group, Inc. is a technology company, which engages in the provision of sustainable solutions to the commercial transportation sector. The company is headquartered in Loveland, Ohio and currently employs 221 full-time employees. The company went IPO on 2009-07-14. The firm designs and manufactures all-electric delivery trucks and drone systems, including the technology that optimizes the way these vehicles operate. The company is an original equipment manufacturer, and its products are marketed under the Workhorse brand. All Workhorse last-mile delivery trucks are assembled in its Union City, Indiana production facility. Its products offering includes delivery vans, delivery drones and telematics. Its C-Series Vans are all-electric by design, with composite technology, and an approximately 100-mile range. Its delivery drones designed to be fully autonomous, as well as work in tandem with its all-electric delivery vans. This custom-built drone technology helps to deliver safety and efficiency to the doorstep. Its in-house, integrated system has information on approximately 8.5 million miles of tracking approximately 350 vehicles.
Sales Decline: Q3 2025 sales were $2.4 million, down slightly from $2.5 million last year, reflecting lower truck deliveries offset by recognizing deferred revenue.
Cost Controls: Operating expenses decreased by $1.2 million year-over-year, with particular reductions in R&D and employee compensation.
Net Loss Improvement: Net loss narrowed to $7.8 million from $25.1 million last year, helped by gains from asset sales and deferred revenue recognition.
Cash Position: Cash and equivalents rose to $38.2 million, boosted by a $20 million sale-leaseback and $5 million convertible note financing with Motiv’s investor.
Motiv Merger: Workhorse is moving forward with its planned merger with Motiv Electric Trucks, expected to close in Q4 2025 pending shareholder approval.
New Product Update: Launched Utilimaster Aeromaster body on W56 chassis, expanding the product line; California’s HVIP incentives continue to support sales.
Operational Efficiency: The company is emphasizing manufacturing improvements, lowering material costs, and targeting operational parity with internal combustion vehicles over the next few years.
