UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-41511 LiveWire Group, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 3700 West Juneau Avenue 5320 ...

Financial Data and Key Metrics Changes - Consolidated revenue for Q2 2025 decreased by 19%, primarily due to a planned reduction in motorcycle shipments and soft demand [10][27] - Consolidated operating income was $112 million, reflecting a 69% decline at HDMC, while HDFS operating income decreased by 2% [28][43] - Earnings per share for Q2 was $0.88, with global retail sales down 15% year over year [28][29] - Operating cash flow decreased by $68 million from the prior period, totaling $509 million [47] Business Line Data and Key Metrics Changes - HDMC revenue decreased by 23% in Q2, driven by a 28% decline in motorcycle shipments [34][35] - HDFS revenue was $257 million, down 2% due to lower retail and commercial receivables [43] - LiveWire reported an operating loss of $19 million, an improvement from a $28 million loss in the prior year [46] Market Data and Key Metrics Changes - North American retail sales were down 17%, while international markets saw a 12% decline [28][29] - In EMEA, retail was down 5%, with growth in Germany and the Benelux regions offset by declines in France and the UK [30] - Asia Pacific retail was down 21%, attributed to intense competition in the lightweight motorcycle segments [31] Company Strategy and Development Direction - The company entered strategic partnerships with KKR and PIMCO for HDFS, aiming to enhance long-term value and reduce overall funding costs [4][5] - Plans to reduce debt by $450 million and accelerate a $1 billion share buyback program were announced [9][49] - The introduction of new entry-level products and a small displacement motorcycle is scheduled for 2026, targeting a price below $6,000 [20][19] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing economic uncertainty and elevated interest rates impacting customer purchasing behavior [10][11] - There are signs of improvement in customer traffic in North America, with expectations for positive retail performance in the second half of the year [66][67] - The company remains cautious about the global tariff environment, estimating a full-year impact of $50 million to $85 million from tariffs [42] Other Important Information - The HDFS transaction is expected to generate $1.25 billion in cash for Harley Davidson, representing about 40% of the current market cap [9][10] - The company is committed to returning capital to shareholders despite the challenging operating environment [48] Q&A Session Summary Question: What are the components used to calculate the 1.75 times book value marker for the HDFS transaction? - The calculation is based on the proceeds from KKR and PIMCO's equity investment in the business, reflecting the premium paid versus the post-transaction book value [52][54] Question: What is driving the underlying profitability of HDFS? - The profitability has improved due to stabilization in used motorcycle values and better repossession rates, contributing positively to HDFS performance [56][58] Question: How does the company view current dealer inventories and what is the target for year-end? - The company expects a significant reduction in dealer inventory, targeting a double-digit decline by year-end [71] Question: What is the timing of the model launch shift? - The model year shift is planned for the fall, with new models being introduced to maintain excitement in dealerships [73][74] Question: Are there any guarantees associated with the HDFS transaction regarding growth in retail sales? - There are no guarantees for maintaining certain growth rates or loss levels; however, there is confidence in the business's ability to run profitably through cycles [88][89]

Second Quarter Highlights and Financial Results Total Company Highlights FOR IMMEDIATE RELEASE LiveWire Group, Inc. Reports 2025 Second Quarter Financial Results MILWAUKEE (July 30, 2025) – LiveWire Group, Inc. ("LiveWire" or the "Company") (NYSE: LVWR) today reported second quarter 2025 results. "During the second quarter, we continued our focus on what can be controlled, reducing consolidated operating loss by 35 percent compared to the prior-year same quarter. Despite continued supply chain challenges dr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-41511 LiveWire Group, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 3700 West Juneau Avenue (65 ...

Financial Data and Key Metrics Changes - Harley-Davidson's consolidated revenue in Q1 2025 decreased by 23%, with operating income at $160 million, a decline of 51% at HDMC, partially offset by a 19% increase in HDFS operating income [20][28] - The consolidated operating income margin for Q1 was 12.1%, down from 15.2% in the previous year, primarily due to lower volume impacting dealer inventory [20][25] - Earnings per share for Q1 was reported at $1.7, reflecting the overall decline in revenue and operating income [21] Business Line Data and Key Metrics Changes - HDMC revenue decreased by 27% in Q1, driven by a 33% decline in motorcycle shipments, totaling 39,000 units compared to 58,000 units in the prior year [22][23] - HDFS revenue was $245 million, a decrease of 2%, while operating income increased by 19% to $64 million due to lower provisions for credit losses [27][28] - LiveWire segment reported an operating loss of $20 million, with revenue decreasing due to lower unit sales of electric motorcycles [30] Market Data and Key Metrics Changes - Global retail sales were down 21% in Q1, with a 24% decline in North America, attributed to low consumer confidence [5][6] - EMEA region saw a retail decline of just 2%, while APAC experienced a 28% decline, primarily due to softness in China and Japan [7] - LATAM reported a 6% decline in retail sales year-over-year [7] Company Strategy and Development Direction - The company is focusing on a significant marketing development fund to support dealer networks and product launches closer to the riding season [6][10] - Harley-Davidson plans to introduce new entry-level products and expand its cruiser offerings, aiming for affordability and profitability [11][88] - The company is evaluating its investment in LiveWire due to challenges in the EV market, including slower adoption rates and regulatory hurdles [12][97] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns over the uncertain macroeconomic environment and its impact on consumer confidence, leading to the withdrawal of previous 2025 guidance [13][34] - There is cautious optimism regarding potential trade deals that may mitigate tariff impacts, although the situation remains fluid [14][59] - Sequential improvement in retail sales was noted from February to April, indicating a slight recovery in consumer demand [66] Other Important Information - The company achieved $142 million in operating cash flow, an increase of $38 million from the prior period, with total cash and cash equivalents at $1.9 billion [31][32] - Harley-Davidson repurchased 3.4 million shares for $87 million in Q1 2025 as part of its capital allocation strategy [33] Q&A Session Summary Question: What might the economics of a long-term strategic partnership look like for Harley Davidson? - Management emphasized the importance of demonstrating the premium value of HDFS and maintaining attractive offers for customers and dealers [39][40] Question: What has changed regarding the strategic value of HDFS? - The focus is on ensuring a market-based view of HDFS's value while still recognizing its strategic importance to the company [42] Question: Can you provide insight into the tariff impacts and anti-American sentiment? - Management noted that while tariffs pose challenges, the company has a strong U.S.-centric manufacturing base, and there has not been significant negative sentiment affecting sales [56][64] Question: How is the retail environment evolving, especially in April? - Sequential improvement was observed in retail sales from February to April, with management noting that April showed signs of recovery compared to March [66] Question: What led to the decision to bring back entry-level bikes? - The company aims to capitalize on the opportunity to create profitable entry-level models, having previously focused on core business investments [88] Question: How are cost savings being tracked for LiveWire? - LiveWire is projected to reduce operating losses significantly, with ongoing efforts to drive cost savings and achieve a sustainable business model [97]

FOR IMMEDIATE RELEASE LiveWire Group, Inc. Reports 2025 First Quarter Financial Results MILWAUKEE (May 1, 2025) – LiveWire Group, Inc. ("LiveWire" or the "Company") (NYSE: LVWR) today reported first quarter 2025 results. Total Company Highlights | $ in millions* | | 1st quarter | | | --- | --- | --- | --- | | | 2025 | 2024 | Change | | Consolidated Operating Loss | ($20.7) | ($30.4) | 32% | | Net Loss | ($19.3) | ($23.6) | 18% | | (1) Net Cash Used During the Quarter | ($18.2) | ($26.9) | 32% | *Amounts may ...

Financial Performance - LiveWire's net loss for the year ended December 31, 2024, was $93,925 thousand, a decrease from a net loss of $109,550 thousand in 2023, reflecting a 14.3% improvement [349]. - Revenue for 2024 decreased to $26,633 thousand, down 30.5% from $38,023 thousand in 2023 [428]. - Operating loss for 2024 was $110,356 thousand, slightly improved from a loss of $115,989 thousand in 2023 [428]. - The overall decrease in cash and cash equivalents was $103,467 thousand for 2024, compared to a decrease of $97,336 thousand for 2023 [398]. - LiveWire's cash and cash equivalents decreased to $64,437 thousand as of December 31, 2024, down from $167,904 thousand in 2023 [387]. - Net cash used by operating activities increased by $10,397 thousand to $93,859 thousand for the year ended December 31, 2024, compared to $83,462 thousand for 2023 [399]. - Total assets decreased to $147,960 thousand in 2024, down 44.3% from $266,147 thousand in 2023 [431]. - Total liabilities reduced to $32,845 thousand in 2024, a decrease of 45.6% from $60,284 thousand in 2023 [431]. - Shareholders' equity fell to $115,115 thousand in 2024, down 44.1% from $205,863 thousand in 2023 [431]. Segment Performance - The Electric Motorcycles segment reported an operating loss of $105,500 thousand for 2024, compared to an operating loss of $116,611 thousand in 2023, representing a 9.5% reduction in losses [350]. - Revenue for the Electric Motorcycles segment decreased by $3,167 thousand, or 27.4%, to $8,381 thousand in 2024 from $11,548 thousand in 2023, with unit sales down 7% to 612 [379]. - The STACYC segment experienced an operating loss of $4,856 thousand in 2024, a significant decline from an operating income of $622 thousand in 2023, marking an 880.7% change [351]. - The STACYC segment's revenue decreased by $8,223 thousand, or 31.1%, to $18,252 thousand in 2024 from $26,475 thousand in 2023, primarily due to lower shipment volumes of electric balance bikes [383]. Sales and Market Strategy - Total Electric Balance Bike Unit Sales decreased to 18,549 units in 2024 from 32,113 units in 2023, reflecting a 42.4% decline [366]. - Wholesale Motorcycle Unit Sales totaled 511 units in 2024, down from 533 units in 2023, a decrease of 4.1% [365]. - Company Retail Motorcycle Unit Sales fell to 101 units in 2024 from 127 units in 2023, a decline of 20.5% [365]. - Total Retail Motorcycle Unit Sales increased to 492 units in 2024, up from 337 units in 2023, representing a 46.0% increase [365]. - Effective November 5, 2024, LiveWire changed its go-to-market strategy in Europe from direct sales to wholesale distribution through independent dealers, aiming to enhance growth and unit sales [356]. - LiveWire plans to expand its business internationally, which is expected to increase its exposure to currency rate risk [419]. Cost Management and Future Plans - LiveWire plans to relocate its product development facility from Mountain View, California, to Milwaukee, Wisconsin, to optimize efficiencies and reduce costs [352]. - LiveWire's focus for 2025 will be on cost improvements, product innovation, and market growth [362]. - LiveWire plans to utilize current cash and funds from the Convertible Term Loan for core operations, new product development, and enhancing manufacturing capabilities, with $8,468 thousand in purchase order commitments for fiscal year 2025 [394]. - LiveWire estimates capital expenditures to be between $8 million and $12 million in 2025 [400]. Cash Flow and Financing - LiveWire does not expect to generate positive cash flow from operations over the next twelve months, relying on existing cash and a $100 million Convertible Term Loan from H-D [388]. - Net cash used in investing activities decreased by $5,394 thousand to $8,068 thousand for the year ended December 31, 2024, compared to $13,462 thousand for 2023, due to lower capital expenditures [400]. - Net cash used by financing activities increased by $1,032 thousand to $1,444 thousand for the year ended December 31, 2024, compared to $412 thousand for 2023 [401]. Audit and Compliance - LiveWire's financial statements are based on significant accounting policies that require management to make critical estimates and assumptions [403]. - The company has been audited by Ernst & Young LLP since 2021, ensuring compliance with U.S. generally accepted accounting principles [427]. - The audit provides reasonable assurance that the financial statements are free of material misstatement [425]. - The company is required to maintain independence in accordance with U.S. federal securities laws and PCAOB regulations [424]. Inventory and Liabilities - As of December 31, 2024, LiveWire had a liability of $6,156 thousand for excess inventory components held by H-D under the Contract Manufacturing Agreement [396]. - The company's inventories, net, decreased to $26,942 thousand in 2024 from $32,122 thousand in 2023, with electric motorcycles and balance bikes accounting for $24,862 thousand [512]. - The balance of warranty and recall liabilities at the end of 2024 was $881,000, down from $1,011,000 at the end of 2023, indicating a decrease of approximately 12.9% [543]. Research and Development - The Company incurred research and development expenses of $41,742 thousand, $54,070 thousand, and $35,612 thousand for the years 2024, 2023, and 2022, respectively [469]. - The company has a strategic focus on developing new electric motorcycle models and related accessories to capture a larger market share [450].

LiveWire Group, Inc. (NYSE:LVWR) Q4 2024 Earnings Conference Call February 5, 2025 9:00 AM ET Company Participants Shawn Collins - Director, Investor Relations Jochen Zeitz - Chief Executive Officer Jonathan Root - Chief Financial Officer Karim Donnez - Chief Executive Officer, LiveWire Conference Call Participants Megan Clapp - Morgan Stanley Joe Altobello - Raymond James James Hardiman - Citi Robin Farley - UBS Fred Wightman - Wolfe Research Alex Perry - Bank of America Joe Nolan - Longbow Research Noah Z ...

[Executive Summary & Business Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Business%20Highlights) [Introduction & CEO Statement](index=1&type=section&id=Introduction%20%26%20CEO%20Statement) LiveWire Group reported 2024 financial results and outlined strategic initiatives to reduce cash burn and lead the EV space - LiveWire Group, Inc reported fourth quarter and full year 2024 results[1](index=1&type=chunk) - CEO Karim Donnez stated the company expects to reduce cash burn by **40% or more in 2025** compared to 2024[2](index=2&type=chunk) - The company plans to continue establishing its leadership in the EV space[2](index=2&type=chunk) [2024 Highlights and Fourth Quarter Summary of Results](index=1&type=section&id=2024%20Highlights%20and%20Fourth%20Quarter%20Summary%20of%20Results) The fourth quarter featured key operational achievements, business consolidation, and significant expense reductions - S2 Del Mar won MCN's **Best Electric Bike of 2024**[5](index=5&type=chunk) - Production of two new models, Mulholland and Alpinista, off the S2 platform[5](index=5&type=chunk) - Announced collaboration with KYMCO on an electric maxi-scooter project leveraging the S2 platform[5](index=5&type=chunk) - Completed consolidation of business operations in Milwaukee, Wisconsin[5](index=5&type=chunk) - Reduced consolidated selling, administrative and engineering expense by **$12.6 million**[5](index=5&type=chunk) - Consolidated operating loss decreased by **$5.6 million, or 5%**, from 2023[5](index=5&type=chunk) - Unit sales of 236, a **138% increase** over third quarter 2024[5](index=5&type=chunk) - Aligned go-to-market strategy with Europe moving to a wholesale model and entered Spain and Italy markets[5](index=5&type=chunk) [Financial Performance Analysis](index=2&type=section&id=Financial%20Performance%20Analysis) [Consolidated Financial Results (Q4 and Full Year 2024)](index=2&type=section&id=Consolidated%20Financial%20Results%20(Q4%20and%20Full%20Year%202024)) The company's full-year 2024 net loss improved, driven by reduced expenses and non-operating income gains Consolidated Results (Q4 and Full Year) | $ in millions* | 4th quarter 2024 | 4th quarter 2023 | Change (Q4) | Full Year 2024 | Full Year 2023 | Change (FY) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Motorcycle Units | 236 | 514 | (54%) | 612 | 660 | (7%) | | Electric Balance Bike Units | 8,350 | 8,354 | 0% | 18,549 | 32,113 | (42%) | | Consolidated Revenue | $10.8 | $15.1 | (29%) | $26.6 | $38.0 | (30%) | | Electric Motorcycles Revenue | $3.5 | $8.0 | (56%) | $8.4 | $11.5 | (27%) | | STACYC Revenue | $7.3 | $7.1 | 2% | $18.3 | $26.5 | (31%) | | Consolidated Operating Income (Loss) | ($25.2) | ($33.8) | 25% | ($110.4) | ($116.0) | 5% | | Electric Motorcycles Operating Income (Loss) | ($24.7) | ($34.2) | 28% | ($105.5) | ($116.6) | 10% | | STACYC Operating Income (Loss) | ($0.6) | $0.4 | (225%) | ($4.9) | $0.6 | (881%) | | Net Loss | ($22.8) | ($33.1) | 31% | ($93.9) | ($109.6) | 14% | - Full year 2024 consolidated net loss decreased by **$15.7 million to $93.9 million**, driven by a **$12.6 million** decrease in selling, administrative and engineering expense and a **$14.8 million** increase in non-operating income from the decrease in fair value of outstanding warrants, offset by a **$4.8 million** decrease in interest income[6](index=6&type=chunk)[8](index=8&type=chunk) [Segment Performance](index=2&type=section&id=Segment%20Performance) The Electric Motorcycles segment reduced its operating loss while the STACYC segment saw increased product development expenses [Electric Motorcycles Segment](index=2&type=section&id=Electric%20Motorcycles%20Segment) This segment experienced lower revenue from decreased sales but improved its operating loss through significant expense reductions - Electric Motorcycles revenue decreased in Q4 2024 due to lower unit sales and product mix[7](index=7&type=chunk) - Operating loss decreased by **$9.5 million** in Q4 2024, driven by a **$9.2 million** reduction in selling, administrative and engineering expense from decreased product development and cost reduction activities[7](index=7&type=chunk) [STACYC Segment](index=2&type=section&id=STACYC%20Segment) The STACYC segment maintained sales volumes but incurred higher costs related to product development and marketing initiatives - STACYC volumes were flat in Q4 2024 compared to 2023[8](index=8&type=chunk) - STACYC revenue increased by **$138 thousand** in Q4 2024 due to increased dealer and online sales, offset by decreased sales to a third-party distributor[8](index=8&type=chunk) - Selling, general and administrative expenses for STACYC increased by **$554 thousand**, primarily due to planned product development costs and increased marketing initiatives[8](index=8&type=chunk) [Strategic Outlook & Corporate Information](index=3&type=section&id=Strategic%20Outlook%20%26%20Corporate%20Information) [2025 Financial Outlook](index=3&type=section&id=2025%20Financial%20Outlook) LiveWire projects Electric Motorcycle sales between 1,000-1,500 units and a consolidated operating loss of $70-$80 million for 2025 2025 Financial Outlook | Metric | 2025 Outlook | | :--- | :--- | | Electric Motorcycle sales | 1,000 to 1,500 revenue units | | LiveWire Group operating loss | $70 to $80 million | [About LiveWire](index=3&type=section&id=About%20LiveWire) LiveWire is an electric motorcycle company, majority-owned by Harley-Davidson, focused on leading the industry's transformation - LiveWire has a dedicated focus on the electric motorcycle sector[10](index=10&type=chunk) - Harley-Davidson, Inc is LiveWire's majority shareholder, and LiveWire capitalizes on Harley-Davidson's decade of EV learnings[10](index=10&type=chunk) - LiveWire plans to develop future technology and invest in capabilities to lead the transformation of motorcycling[10](index=10&type=chunk) [Cautionary Note Regarding Forward-Looking Statements](index=3&type=section&id=Cautionary%20Note%20Regarding%20Forward-Looking%20Statements) This section outlines forward-looking statements and associated risks, including operating history, funding, and supply chain dependencies - Statements in the press release are 'forward-looking statements' subject to risks and uncertainties[10](index=10&type=chunk) - Key risks include a history of losses, limited operating history, ability to obtain funding, supply chain dependencies (single-sourced components), competition in the EV industry, and reliance on Harley-Davidson for services and manufacturing[10](index=10&type=chunk)[11](index=11&type=chunk) - The company does not plan to publicly update or revise any forward-looking statements unless required by applicable law[11](index=11&type=chunk) [Consolidated Financial Statements](index=5&type=section&id=Consolidated%20Financial%20Statements) [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) The statement details revenues, costs, and expenses, showing the components of the company's net loss for 2024 and 2023 Consolidated Statements of Operations (In thousands, except per share amounts) | | Three months ended Dec 31, 2024 | Three months ended Dec 31, 2023 | Twelve months ended Dec 31, 2024 | Twelve months ended Dec 31, 2023 | | :--- | :--- | :--- | :--- | :--- | | Revenue, net | $10,761 | $15,091 | $26,633 | $38,023 | | Cost of goods sold | 16,115 | 20,279 | 39,416 | 43,795 | | Selling, administrative and engineering expense | 19,890 | 28,567 | 97,573 | 110,217 | | Total operating costs and expenses | 36,005 | 48,846 | 136,989 | 154,012 | | Operating loss | (25,244) | (33,755) | (110,356) | (115,989) | | Interest income | 840 | 2,365 | 5,704 | 10,537 | | Change in fair value of warrant liabilities | 1,639 | (1,688) | 10,770 | (4,020) | | Loss before income taxes | (22,765) | (33,078) | (93,882) | (109,472) | | Income tax provision | 17 | 15 | 43 | 78 | | Net loss | $(22,782) | $(33,093) | $(93,925) | $(109,550) | | Net loss per share, basic and diluted | $(0.11) | $(0.16) | $(0.46) | $(0.54) | | Weighted-average shares, basic and diluted | 203,301 | 202,672 | 203,206 | 202,504 | [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) The balance sheet presents the company's financial position, detailing assets, liabilities, and equity as of year-end 2024 and 2023 Consolidated Balance Sheets (In thousands) | | December 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **ASSETS** | | | | Cash and cash equivalents | $64,437 | $167,904 | | Accounts receivable, net | 3,874 | 4,295 | | Accounts receivable from related party | 399 | 3,402 | | Inventories, net | 26,942 | 32,122 | | Other current assets | 2,709 | 3,004 | | Total current assets | 98,361 | 210,727 | | Property, plant and equipment, net | 34,012 | 37,682 | | Goodwill | 8,327 | 8,327 | | Deferred tax assets | 7 | 4 | | Lease assets | 765 | 1,868 | | Intangible assets, net | 1,058 | 1,347 | | Other long-term assets | 5,430 | 6,192 | | **Total assets** | **$147,960** | **$266,147** | | **LIABILITIES AND SHAREHOLDERS' EQUITY** | | | | Accounts payable | $1,738 | $3,554 | | Accounts payable to related party | 9,762 | 20,371 | | Accrued liabilities | 17,960 | 21,189 | | Current portion of lease liabilities | 394 | 1,152 | | Total current liabilities | 29,854 | 46,266 | | Long-term portion of lease liabilities | 405 | 792 | | Deferred tax liabilities | 118 | 93 | | Warrant liabilities | 1,549 | 12,319 | | Other long-term liabilities | 919 | 814 | | **Total liabilities** | **$32,845** | **$60,284** | | **Shareholders' equity:** | | | | Preferred Stock | — | — | | Common Stock | 20 | 20 | | Treasury Stock | (3,413) | (1,969) | | Additional paid-in-capital | 344,409 | 339,783 | | Accumulated deficit | (225,913) | (131,988) | | Accumulated other comprehensive income | 12 | 17 | | **Total shareholders' equity** | **115,115** | **205,863** | | **Total liabilities and shareholders' equity** | **$147,960** | **$266,147** | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) This statement details cash flows from operating, investing, and financing activities, highlighting a net decrease in cash for 2024 Consolidated Statements of Cash Flows (In thousands) | | Twelve months ended Dec 31, 2024 | Twelve months ended Dec 31, 2023 | | :--- | :--- | :--- | | **Cash flows from operating activities:** | | | | Net loss | $(93,925) | $(109,550) | | Adjustments to reconcile net loss to net cash used in operating activities | | | | Depreciation and amortization | 10,041 | 5,832 | | Change in fair value of warrant liabilities | (10,770) | 4,020 | | Stock compensation expense | 4,626 | 8,926 | | Inventory write-down | 5,750 | 2,719 | | Net cash used by operating activities | (93,859) | (83,462) | | **Cash flows from investing activities:** | | | | Capital expenditures | (8,068) | (13,462) | | Net cash used by investing activities | (8,068) | (13,462) | | **Cash flows from financing activities:** | | | | Repurchase of common stock | (1,444) | (1,969) | | Proceeds received from exercise of warrants | — | 1,557 | | Net cash used by financing activities | (1,444) | (412) | | Effect of exchange rate changes on cash and cash equivalents | (96) | — | | **Net decrease in cash and cash equivalents** | **$(103,467)** | **$(97,336)** | | Cash and cash equivalents—beginning of period | $167,904 | $265,240 | | Cash and cash equivalents—end of period | $64,437 | $167,904 |

*Amounts may not add or recalculate due to rounding. FOR IMMEDIATE RELEASE LiveWire Group, Inc. Reports 2024 Third Quarter Financial Results MILWAUKEE, WI (October 24, 2024) – LiveWire Group, Inc. ("LiveWire" or the "Company") (NYSE: LVWR) today reported third quarter 2024 results. "While the two-wheel industry has been challenging in 2024, especially for EV products in the U.S., the Company had reasons to celebrate in Q3, including being awarded best 2024 electric bike by Motor Cycle News and enjoying a gl ...