Workhorse Group (NASDAQ:WKHS) Releases Earnings Results

Workhorse Group (NASDAQ:WKHS) issued its earnings results on Tuesday. The company reported ($2.35) earnings per share for the quarter, topping the consensus estimate of ($8.88) by $6.53, Zacks reports. The company had revenue of $12.52 million during the quarter, compared to the consensus estimate of $2.00 million. Workhorse Group had a negative return on equity of 232.69% and a negative net margin of 606.64%.

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 Trading Down 7.9%

NASDAQ WKHS opened at $2.78 on Thursday. The stock has a market cap of $6.03 million, a P/E ratio of -0.03 and a beta of 2.68. The company’s fifty day simple moving average is $3.76 and its 200-day simple moving average is $7.54. The company has a current ratio of 1.21, a quick ratio of 0.71 and a debt-to-equity ratio of 0.16. Workhorse Group has a 52 week low of $2.73 and a 52 week high of $67.32.

Institutional Investors Weigh In On Workhorse Group

A hedge fund recently raised its stake in Workhorse Group stock. Geode Capital Management LLC boosted its position in Workhorse Group, Inc. (NASDAQ:WKHS) by 32.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,684 shares of the company’s stock after buying an additional 11,073 shares during the quarter. Geode Capital Management LLC owned 0.47% of Workhorse Group worth $49,000 at the end of the most recent quarter. 15.98% of the stock is owned by institutional investors and hedge funds.

Workhorse Group Company Profile

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.