Workhorse Group (WKHS) Q1 2025 Earnings Call May 15, 2025 08:00 AM ET Company Participants Stan March - Vice President of Corporate Development & CommunicationsRick Dauch - CEOBob Ginnan - CFO Operator Greetings, and welcome to the Workhorse Group Q1 twenty twenty five Earnings Conference Call and Webcast. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It's now my pleasure to turn ...

Workhorse Group (WKHS) Q1 2025 Earnings Call May 15, 2025 08:00 AM ET Speaker0 Greetings, and welcome to the Workhorse Group Q1 twenty twenty five Earnings Conference Call and Webcast. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Stan Marsh. Please go ahead, Stan. Speaker1 Thank you very much, Kevin. Good morning. We'd like to welcome ...

Xos (XOS) Q1 2025 Earnings Call May 14, 2025 04:30 PM ET Company Participants David Zlotchew - General CounselDakota Semler - CEO & ChairmanGiordano Sordoni - Co-Founder, COO & DirectorLiana Pogosyan - Acting CFO & VP of Finance Conference Call Participants Craig Irwin - Managing Director, Senior Research Analyst Operator Good day and welcome to the Exos Inc. First Quarter of twenty twenty five Earnings Call. All participants will be in a listen only mode for the duration of the call. And should you need an ...

Financial Data and Key Metrics Changes - For Q1 2025, revenue was $5.9 million, down from $11.5 million in Q4 2024 and $13.2 million in Q1 2024, with 29 units recognized compared to 51 units and 62 units in the previous quarters [24][25] - Cost of goods sold decreased to $4.7 million from $15.2 million in Q4 2024 and $10.4 million in Q1 2024 [24] - GAAP gross margin was a profit of $1.2 million or 20.6%, compared to a loss of $3.7 million in Q4 2024 and a profit of $2.8 million in Q1 2024 [25] - Non-GAAP gross margin was approximately $900,000 or 15%, down from $2.7 million in Q4 2024 but up from $1.7 million in Q1 2024 [25][26] - Operating expenses were $10.5 million, down from $10.9 million in Q4 2024 and $13 million in Q1 2024 [26] - Operating loss for Q1 2025 was $9.3 million, improved from a loss of $14.6 million in Q4 2024 and $10.2 million in Q1 2024 [27] - Cash and cash equivalents totaled $4.8 million, with free cash flow negative at $4.8 million [28][29] Business Line Data and Key Metrics Changes - The company shipped a total of 60 units in Q1 2025, including 31 additional strip chassis for UPS, but only recognized revenue for 29 units due to GAAP standards [24][7] - The MD XT, a new medium-duty chassis cab, was launched, targeting a total addressable market of up to 100,000 units per year in the U.S. [12][15] Market Data and Key Metrics Changes - Customer demand remains consistent, with growing interest from national fleets, while smaller regional operators are leveraging state incentive programs [8] - The market for conventional chassis cab products like the MD XT can sell up to 100,000 units per year, significantly larger than the strip chassis market [39] Company Strategy and Development Direction - The company aims to focus on growth, protecting margins, and managing liquidity with discipline [6][18] - Plans to reduce exposure to tariffs through reshoring and resourcing strategies [10] - The MD XT is positioned as a more affordable and reliable option compared to legacy players, which are pricing their electric chassis cabs over $300,000 [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating challenges such as new emissions rules, tariffs, and interest rates, emphasizing customer trust and reliable truck performance [7] - The company reaffirmed its full-year 2025 guidance for revenue between $50.2 million and $65.8 million, with unit deliveries between 320 and 420 units [29] Other Important Information - The company has made significant progress in collecting receivables, totaling $10.2 million in Q1 2025 [29] - The MD XT is still undergoing safety certifications and is targeted for production ramp-up by Q3 2026 [17] Q&A Session Summary Question: Can you speak about the parts commonality between your step vans and the MD XT? - The MD XT shares over 90% of the same commodity components with the step van, reducing costs and training requirements [35][36] Question: What are potential customers saying about the MD XT? - The market for the MD XT is larger, with several sizable fleets already interested, and it is expected to take time to ramp up orders [40] Question: How should we think about revenue recognition for the UPS units? - The margin profile for large national customers is lower, but this will be offset by other products in the portfolio, with a concentration of deliveries expected in Q2 and Q3 [42][43] Question: Can you provide an update on the ChargeHub? - There is significant interest in the ChargeHub, with orders coming from outside the truck customer base, and the company is exploring additional features for future versions [46][47]

Workhorse Group, Inc. (WKHS) Q4 2024 Earnings Conference Call March 31, 2025 10:00 AM ET Company Participants Rob - Conference OperatorStan March - Investor RelationsBob Ganan - CFORick Douk - CEO Rob Greetings. Welcome to the Workhorse Group's fourth quarter and full year 2024 earnings call. At this time, all participants will be in listen-only mode. A question and answer session will follow today's formal presentation. If anyone should require operator assistance, please press star zero from your telephon ...