Workhorse Group Inc. (WKHS) — Financial statements
Income statement, balance sheet, and cash flow for Workhorse Group Inc. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 21↑220.6% | 7↓49.5% | 13↑160.7% | 5↑689.6% | -0.85 | |
| Cost of Revenue | 31↑6.7% | 29↓24.8% | 38↑1.8% | 38↓70.0% | 126 | |
| Gross Profit | -10↑57.0% | -22↑12.0% | -25↑22.6% | -33↑74.2% | -127 | |
| Operating Expenses | ||||||
| R&D Expenses | 13↑43.9% | 9↓62.6% | 24↑5.4% | 23↑99.9% | 12 | |
| General & Administrative Expenses | 0.00↓100.0% | 42↓22.2% | 53↓26.0% | 72 | 0.00 | |
| Selling & Marketing Expenses | 0.00↓100.0% | 0.90↓25.0% | 1↑20.0% | 1 | 0.00 | |
| SG&A Expenses | 25↓41.8% | 43↓22.2% | 55↓25.3% | 73 | 0.00 | |
| Other Expenses | 0.00 | 0.00↓100.0% | 0.90 | 0.00↓100.0% | 47 | |
| Operating Expenses | 38↓26.7% | 52↓35.5% | 80↓17.0% | 96↑64.6% | 59 | |
| Total Costs & Expenses | 69↓14.7% | 81↓32.0% | 118↓11.7% | 134↓27.2% | 184 | |
| Operating Results | ||||||
| Operating Income | -47↑35.8% | -74↑29.8% | -105↑18.4% | -129↑30.3% | -185 | |
| Depreciation & Amortization | 1↓84.4% | 8↑94.6% | 4↑108.9% | 2↑1.9% | 2 | |
| EBITDA | -46↑35.6% | -72↑28.5% | -100↑21.1% | -127↑27.9% | -176 | |
| EBIT | -47↑40.5% | -80↑23.7% | -104↑19.1% | -129↑27.6% | -178 | |
| Interest & Other Income | ||||||
| Net Interest Income | -17↑21.7% | -22↓154.7% | -9↓12735.4% | -0.07↑99.0% | -7 | |
| Interest Income | 0.00 | 0.00 | 0.00↓100.0% | 0.26 | 0.00 | |
| Interest Expense | 17↓21.7% | 22↑154.7% | 9↑2524.3% | 0.33↓95.1% | 7 | |
| Non-Operating Income | 0.00↓100.0% | 6↑742.1% | -0.90 | 0.00↑100.0% | -7 | |
| Other Income / Expenses | -17↑40.6% | -28↓51.4% | -19↓256.8% | 12↑105.0% | -238 | |
| Income Before Tax | -64↑37.1% | -102↑17.7% | -124↓5.6% | -117↑72.3% | -423 | |
| Income Tax Expense | 0.00↑103.4% | -0.12↓205.9% | 0.11 | 0.00↑100.0% | -22 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | -64↑37.0% | -102↑17.9% | -124↓5.7% | -117↑70.8% | -401 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | -64↑37.0% | -102↑17.9% | -124↓5.7% | -117↑70.8% | -401 | |
| Bottom-Line Net Income | -64↑37.0% | -102↑17.9% | -124↓5.7% | -117↑70.8% | -401 | |
| EPS (Basic) | -6.76↑86.9% | -51.69↑65.4% | -149.45↑19.2% | -184.89↑76.3% | -779.76 | |
| EPS (Diluted) | -6.76↑86.9% | -51.69↑65.4% | -149.45↑19.2% | -184.89↑76.3% | -779.76 | |
| Weighted Average Shares | 9↑381.1% | 2↑137.5% | 0.83↑30.7% | 0.63↑23.2% | 0.51 | |
| Weighted Average Diluted Shares | 9↑381.1% | 2↑137.5% | 0.83↑30.7% | 0.63↑23.2% | 0.51 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.