Quarterly ResultAug 13, 2026, 04:16 PM
Workhorse Q2 Net Loss $(20.17)M; Substantial Doubt on Going Concern
AI Summary
Workhorse Group Inc. reported a net loss of $(20.17) million for Q2 2026 and $(40.05) million for the first six months, with sales increasing to $3.56 million in Q2. The company disclosed substantial doubt about its ability to continue as a going concern due to recurring losses, accumulated deficit, and projected capital needs. Management is implementing plans to improve liquidity, including increasing sales, developing a mobile AI data center product line, reducing expenses, and securing additional financing.
Key Highlights
- Substantial doubt exists regarding Workhorse's ability to continue as a going concern.
- Q2 2026 net loss was $(20.17) million, worsening from $(12.85) million in Q2 2025.
- Six-month net loss reached $(40.05) million, up from $(25.50) million year-over-year.
- Q2 2026 sales increased to $3.56 million from $0.75 million in Q2 2025.
- Cash and cash equivalents were $9.63 million as of June 30, 2026.
- Total stockholders' equity declined to $7.18 million from $43.04 million.
- Net cash used in operating activities was $(40.59) million for the six months.
- Company had $12.2 million positive working capital as of June 30, 2026.
Price Impact
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