| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 3.56 | 17.8% | 37.2% |
| Total Income | 3.56 | 17.8% | 37.2% |
| Expenditure | 22.98 | 9.6% | 14.1% |
| PBT | -20.17 | 1.3% | 36.5% |
| Net Profit | -20.17 | 1.5% | 36.5% |
| OPM | — | ||
| NPM | — | ||
| EPS | -1.86 | 6.5% | 11.4% |
Workhorse Group Reports Q2 2026 Results
14 Aug 2026 · 14 Aug, 1:48 am
Summary
Workhorse Group reported a substantial increase in revenue for the second quarter of 2026, reaching $3.6 million compared to $0.8 million in the prior year's quarter, driven by increased vehicle deliveries. Despite this revenue growth, the company incurred a net loss of $20.2 million for the quarter. Management highlighted strategic efforts to transform the company into an industrial technology firm, leveraging its expertise for broader market applications including a new mobile AI data center product line. The company is also focused on cost reduction and optimizing production for its electric vehicles.
Key Highlights
- 1
Workhorse Group reported revenue of $3.6 million for the second quarter of 2026, a significant increase from $0.8 million in the second quarter of 2025.
- 2
The company delivered 26 vehicles in Q2 2026, compared to 4 vehicles in Q2 2025.
- 3
Second quarter 2026 operating expenses were $11.9 million, with R&D expenses of $4.1 million supporting product development.
- 4
Net loss for the second quarter of 2026 was $20.2 million, or $1.86 per share, compared to a net loss of $12.8 million, or $1.38 per share, in the same period last year.
- 5
Workhorse announced its intent to enter the mobile AI data center market, targeting an estimated $41 billion market by 2031.
- 6
The company expects to produce more fully electrified Class 5/6 chassis over the next five months than in any prior five-month period in its history.
- 7
Workhorse is transforming into a new, American industrial technology company serving critical commercial, government, defense, and infrastructure markets.
Management Comments
Scott Griffith
As we complete the final stages of merger integration, Workhorse is transforming from a pure-play manufacturer of electric commercial vehicles into a new, American industrial technology company built to serve critical commercial, government, defense, and infrastructure markets. At the heart of this transformation is our foundational expertise in the design, engineering, testing, validation and manufacturing of industrial products. While traditionally this expertise has been applied to the commercial vehicle market, we believe we are positioned to leverage it for broader industrial applications, opening up access to additional large, high-growth markets. We believe the combination of our new enterprise sales strategy, the 2026 promotional pricing, and the strong TCO and on-road performance of our W56 step van product line is continuing to drive product enthusiasm and market interest. We have a growing backlog of firm orders and our sales pipeline has more than doubled since the start of 2026.
Informational and educational content only. Not investment advice.