Workhorse Group Inc.
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $21.2M | $7.0M | $13.1M | $5.0M | -$851,922 |
| Gross profit | -$9.6M | -$6.1M | -$25.3M | -$32.6M | -$133.3M |
| Operating income | -$47.4M | -$41.3M | -$105.3M | -$129.1M | -$185.1M |
| Operating expenses | $37.9M | $35.2M | $80.0M | $96.4M | $51.8M |
| Cost of revenue | $30.8M | $13.2M | $38.4M | $37.7M | $132.5M |
| Cash from operations | -$35.6M | -$38.2M | -$123.0M | -$93.8M | -$132.6M |
| Capital expenditure | $603,000 | $4.8M | $18.7M | $17.5M | $5.3M |
| Free cash flow | -$36.2M | -$42.9M | -$141.7M | -$111.3M | -$137.9M |
| Share repurchases | $0 | — | — | — | — |
| Impairments | $0 | $4.7M | $0 | $0 | $6.8M |
| Total assets | $117.9M | $37.4M | $141.7M | $182.7M | $228.1M |
| Total liabilities | $74.8M | $78.2M | $58.6M | $74.2M | $53.4M |
Shares outstanding 10.9M
Annual filing data through FY ended December 31, 2025; float as of July 13, 2026.