LiveWire Group (LVWR) Q2 2025 Earnings Call July 30, 2025 09:00 AM ET Speaker0Thank you for standing by, and welcome to the Harley Davidson twenty twenty five Second Quarter Investor and Analyst Conference Call. Please be advised that today's conference is being recorded. I would now like to hand the conference over to Sean Collins. Thank you. Please go ahead.Speaker1Thank you. Good morning. This is Sean Collins, the Director of Investor Relations at Harley Davidson. You can access the slides supporting tod ...

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 ...

"In 2024, we undertook several initiatives to navigate the market dynamics and turned challenges into opportunities to reposition the business for 2025. We now expect to reduce our cash burn by 40% or more in 2025 compared to 2024. The Company plans to continue establishing its leadership in the EV space. With our world-class products, first-class team, and best-in-the-industry retail partners, we will continue to relentlessly improve the fundamentals of the business and position ourselves for long-term suc ...

*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 ...

Core Insights - The "Next-Gen Attention Study" by Livewire indicates that Gen Z and Alpha consumers expect brands to engage with them through immersive in-game experiences rather than traditional advertising methods [1][2][3] Group 1: Consumer Expectations - 76% of Gen Alpha gamers enjoy branded moments in games, compared to 49% of millennials and 54% of Gen Z [2] - 73% of Gen Alpha gamers prefer playable experiences over video ads, highlighting a shift in how younger generations engage with advertising [2] - 58% of Gen Alpha gamers find immersion to be a key part of their enjoyment in gaming and in-game advertising [2] Group 2: Marketing Strategies - Brands must adapt their marketing strategies to meet the expectations of Gen Z and Alpha, who are primarily found in gaming environments like Fortnite and Roblox [3] - Livewire's CEO emphasizes the need for brands to create immersive, interactive experiences that resonate with the next-gen audience [3] - The gaming industry must evolve to understand and meet the expectations of brands, as consumers demand high-quality content and experiences [3]