Workhorse(WKHS)
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Workhorse(WKHS) - 2020 Q4 - Annual Report
2021-02-28 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE EXCHANGE ACT OF 1934 Commission file number: 001-37673 WORKHORSE GROUP INC. (Exact name of registrant as specified in its charter) | Nevada | | 26-1394771 | | --- | --- | --- | | (State or other jurisdiction of | | (I.R.S. Employer | | i ...
Workhorse(WKHS) - 2020 Q3 - Earnings Call Transcript
2020-11-09 18:47
Workhorse Group Inc (NASDAQ:WKHS) Q3 2020 Results Conference Call November 9, 2020 10:00 AM ET Company Participants Robert Willison - Chief Operating Officer Duane Hughes - President and Chief Executive Officer Steve Schrader - Chief Financial Officer Conference Call Participants Colin Rusch - Oppenheimer & Co Gregory Lewis - BTIG Craig Irwin - ROTH Capital Partners Jeffrey Osborne - Cowen and Company Mike Shlisky - Colliers Securities Operator Ladies and gentlemen, greetings, and welcome to Workhorse Group ...
Workhorse(WKHS) - 2020 Q3 - Quarterly Report
2020-11-09 13:49
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 September 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number: 001-37673 WORKHORSE GROUP INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction o ...
Workhorse(WKHS) - 2020 Q2 - Earnings Call Transcript
2020-08-10 20:28
Workhorse Group Inc. (NASDAQ:WKHS) Q2 2021 Earnings Conference Call August 10, 2020 10:00 AM ET Company Participants Rob Willison - Chief Operating Officer Steve Schrader - Chief Financial Officer Duane Hughes - Chief Executive Officer John Graber - Head of Aerospace Operation Conference Call Participants Craig Irwin - ROTH Capital Partners Greg Lewis - BTIG. Jeff Osborne - Cowen & Company Mike Shlisky - Dougherty Colliers Securities Pavel Molchanov - Raymond James Operator Ladies and gentlemen, greetings. ...
Workhorse(WKHS) - 2020 Q2 - Quarterly Report
2020-08-10 12:55
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, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number: 000-53704 WORKHORSE GROUP INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of inc ...
Workhorse(WKHS) - 2020 Q1 - Earnings Call Transcript
2020-05-06 20:41
Financial Data and Key Metrics Changes - Sales for Q1 2020 were $84,000, down from $364,000 in Q1 2019 [8] - Cost of goods sold increased to $1.7 million from $1.4 million in Q1 2019, primarily due to increased tooling costs for C-Series production [8] - Selling, general and administrative expenses rose to $5.6 million from $2.1 million in the same period last year, driven by consulting expenses and higher employee-related costs [9] - Research and development expenses increased to $1.9 million from $1.4 million in Q1 2019, mainly due to finalizing the design of the C-Series [11] - Net income was $4.8 million compared to a net loss of $6.3 million in Q1 2019 [13] - Cash, cash equivalents, and short-term investments totaled $16.8 million as of March 31, 2020, down from $23.9 million as of December 31, 2019 [13] Business Line Data and Key Metrics Changes - The company experienced delays in material component shipments due to COVID-19, pushing initial deliveries to Q2 [7] - The company reiterated guidance of producing 300 to 400 delivery trucks in 2020, contingent on supply chain stability and financing [18] Market Data and Key Metrics Changes - The COVID-19 pandemic has increased interest in last-mile delivery solutions, particularly in the context of the Horsefly Delivery Drone business [20] - The company has been actively involved in testing drone delivery systems in partnership with UPS and Virginia's Center for Innovative Technology [21][22] Company Strategy and Development Direction - The company aims to leverage its integrated drone capabilities to enhance last-mile delivery solutions, which have gained traction due to the pandemic [20][24] - Workhorse is focusing on improving corporate governance and production oversight by appointing experienced automotive industry veterans to its Board of Directors [27][28] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about moving past supply chain disruptions and emphasized adherence to health and safety guidelines [32] - The company is committed to supporting customers and stakeholders during the pandemic while maintaining production capabilities [33] Other Important Information - The company filed a Form S-3 registration statement to raise capital in the future [13] - Management highlighted the importance of protecting intellectual property related to drone technology [25] Q&A Session Summary Question: Can you elaborate on the Horsefly drone delivery system and its impact on residential deliveries? - Management acknowledged that the COVID-19 pandemic has accelerated demand for drone delivery systems, particularly for last-mile delivery [41] Question: How should investors think about the delivery guidance of 300 to 400 units? - Management indicated that the pace of deliveries will depend on the ongoing COVID-19 situation and supply chain stability, with expectations for ramp-up in Q3 and Q4 [49][52] Question: What is the status of the credit revolver discussions? - Management confirmed ongoing discussions with interested parties and hopes to finalize a facility by the end of Q2 [84][85] Question: Can you provide an update on production capabilities and staffing? - Management stated that the current staff is capable of producing two trucks per day and that training is ongoing [88][89] Question: What is the status of testing for compliance with FMVSS? - Management confirmed that testing is scheduled to resume soon after delays due to facility closures [91]
Workhorse(WKHS) - 2020 Q1 - Quarterly Report
2020-05-06 12:56
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, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number: 000-53704 WORKHORSE GROUP INC. (Exact name of registrant as specified in its charter) Nevada 26-1394771 | (State or othe ...
Workhorse(WKHS) - 2019 Q4 - Annual Report
2020-03-13 20:17
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE EXCHANGE ACT OF 1934 Commission file number: 000-53704 WORKHORSE GROUP INC. (Exact name of registrant as specified in its charter) | Nevada | | 26-1394771 | | | --- | --- | --- | --- | | (State or other jurisdiction of | | (I.R.S. Employer ...
Workhorse(WKHS) - 2019 Q4 - Earnings Call Transcript
2020-03-10 20:11
Workhorse Group, Inc. (NASDAQ:WKHS) Q4 2019 Earnings Conference Call March 10, 2020 10:00 AM ET Company Participants Robert Willison - COO Steve Schrader - CFO Duane Hughes - CEO & Director Conference Call Participants Greg Lewis - BTIG Jeff Osborne - Cowen & Company Jay Burnham - Armory Advisors Operator Ladies and gentlemen, greetings and welcome to Workhorse Group's Fourth Quarter and Full Year 2019 Investor Conference Call. As a reminder, this conference call is being recorded. It is now my pleasure to ...
Workhorse(WKHS) - 2019 Q3 - Earnings Call Transcript
2019-11-08 21:15
Workhorse Group, Inc. (NASDAQ:WKHS) Q3 2019 Earnings Conference Call November 8, 2019 10:00 AM ET Company Participants Robert Willison - COO Paul Gaitan - CFO Duane Hughes - CEO & Director Conference Call Participants Jeff Osborne - Cowen and Company Paul Largo - Wells Fargo Operator Ladies and gentlemen, greetings, and welcome to Workhorse Group's Third Quarter 2019 Investor Conference Call. As a reminder, this conference call is being recorded. It is now my pleasure to introduce your host, Workhorse's Chi ...