Workhorse Group (NASDAQ:WKHS) Announces Earnings Results

Workhorse Group (NASDAQ:WKHS) issued its quarterly earnings results on Tuesday. The company reported ($2.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($8.88) by $6.42, FiscalAI reports. The business had revenue of $12.52 million during the quarter, compared to analyst estimates of $2.00 million. Workhorse Group had a negative net margin of 606.64% and a negative return on equity of 232.69%.

Here are the key takeaways from Workhorse Group’s conference call:

• The merger with Motiv closed in December 2025, creating a combined medium‑duty OEM with >1,100 vehicles deployed and 20 million real‑world miles across customers that include 10 of North America’s largest fleets, with documented repeat purchases.
• Management is targeting $20 million in annualized cost synergies by the end of 2026 and has already introduced a lower‑cost W5‑6 configuration as the first tangible pass‑through of those savings to customers.
• The Union City, Indiana plant has capacity for >5,000 vehicles per year with minimal additional CapEx, and management says reaching roughly 2,500 units/year (~1% market share) would support cash‑flow breakeven by the end of 2028.
• Financial performance remains challenged — Q4 2025 gross margin was negative (−$5.7M), operating loss was $20.1 million, and net loss was $23.7 million, including merger‑related charges.
• Liquidity is constrained with $12.9 million in cash at year‑end and management is actively pursuing additional financing despite access to a $40 million customer order lending facility that was unused at year‑end.

Workhorse Group Stock Performance

Shares of WKHS stock traded up $0.09 on Tuesday, hitting $3.02. 146,235 shares of the stock traded hands, compared to its average volume of 83,695. The company’s fifty day moving average is $3.81 and its 200 day moving average is $7.58. Workhorse Group has a 1-year low of $2.73 and a 1-year high of $67.32. The company has a market capitalization of $6.55 million, a PE ratio of -0.04 and a beta of 2.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.21 and a quick ratio of 0.71.

Institutional Trading of Workhorse Group

A hedge fund recently raised its stake in Workhorse Group stock. Geode Capital Management LLC raised its position in Workhorse Group, Inc. (NASDAQ:WKHS) by 32.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,684 shares of the company’s stock after purchasing an additional 11,073 shares during the quarter. Geode Capital Management LLC owned about 0.47% of Workhorse Group worth $49,000 as of its most recent filing with the Securities and Exchange Commission. 15.98% of the stock is currently owned by hedge funds and other institutional investors.

About Workhorse Group

Workhorse Group Inc is a U.S.-based technology company specializing in the design and manufacture of electric vehicles and drone-integrated delivery solutions. Founded in 2007 and headquartered in Loveland, Ohio, Workhorse focuses on last-mile delivery, combining electric powertrain systems, advanced telematics and proprietary composite bodies to address the growing demand for sustainable logistics fleets.

The company’s core product lineup includes the N-GEN™ chassis, a modular electric vehicle platform available in Class 3–5 configurations, and the C-1000™ all-electric delivery van.