Every 10-Q that Workhorse Group (WKHS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow WKHS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full WKHS filings page.
Workhorse Group Inc. reported a sharply loss-making and cash‑constrained first quarter of 2026 while integrating its reverse merger with Motiv Power Systems. Revenue rose to $4.3 million, but cost of sales of $11.8 million drove a gross loss of $7.5 million and a net loss of $19.9 million, or $1.99 per share, compared with a $12.7 million loss a year earlier.
As of March 31 2026, cash and cash equivalents were only $0.6 million (plus $0.7 million restricted), against total liabilities of $76.5 million and total stockholders’ equity of $26.2 million. Management concluded that recurring losses, limited cash, dependence on external funding and lower‑than‑expected demand raise substantial doubt about the company’s ability to continue as a going concern for at least one year.
The quarter reflected the December 2025 reverse acquisition of Workhorse by Motiv, extensive related‑party financing from Motive GM Holdings II LLC, and restructuring of prior debt via stock rights. Workhorse relies on a $40 million customer order credit facility and a $10 million cash‑flow line, both from this related party, and a $5 million convertible note. Subsequent events include amendments increasing cash‑flow borrowing capacity, a planned $4.3 million litigation settlement with a battery supplier, rent deferrals on its Union City plant lease, and a new purchase order for 100 fully electric W56 step vans.
Workhorse Group (WKHS) reported Q3 2025 results showing a net loss of $7.8 million on revenue of $2.38 million, with a gross loss of $7.7 million. Operating expenses were $8.85 million, and loss from operations reached $16.6 million.
Liquidity remains tight. As of September 30, 2025, the company held $12.7 million in cash and cash equivalents and $25.5 million in restricted cash, while operating activities used $25.0 million year-to-date. Management disclosed that substantial doubt exists about continuing as a going concern.
Workhorse recorded a $13.8 million gain from a sale‑leaseback of its Union City, IN facility and recognized $4.8 million other income from terminating the Tropos assembly agreement. The company outlined a pending merger with Motiv Power Systems, a new $5.0 million subordinated secured convertible note, and noted $27.1 million in 2024 notes at fair value outstanding, with portions subject to lockbox release conditions.
Workhorse Group Inc. reported $6.3 million of sales and a net loss of $35.4 million for the six months ended June 30, 2025. The company had $2.2 million of cash, $22.5 million of restricted cash, net inventory of $32.8 million and accounts payable of $10.8 million, resulting in negative working capital of $9.8 million and an accumulated deficit of $888.8 million, and management states substantial doubt about the Company's ability to continue as a going concern.
The filing discloses a signed Merger Agreement with Motiv Power Systems, a Sale-Leaseback of the Union City facility for $20 million, a $5 million subordinated secured convertible note and Waiver/Repayment arrangements that include depositing approximately $9.9 million cash collateral to the lockbox and proposed repayment of outstanding 2024 Notes. The 2024 Notes and related warrants remain material financing items with fair value estimates disclosed.