Financial Performance (Q2 2025) - Workhorse's sales, net of returns and allowances, for the three months ended June 30, 2025, were $5.7 million, compared to $0.8 million for the same period in 2024, representing an increase of $4.8 million[21] - Cost of sales for the three months ended June 30, 2025, was $13.1 million, compared to $7.3 million for the same period in 2024, an increase of $5.8 million[22] - Selling, general, and administrative expenses for the three months ended June 30, 2025, were $5.8 million, compared to $12.1 million for the same period in 2024, a decrease of $6.3 million[23] - Research and development expenses for the three months ended June 30, 2025, were $1.2 million, compared to $2.0 million for the same period in 2024, a decrease of $0.7 million[24] - As of June 30, 2025, Workhorse had $24.7 million in cash and cash equivalents, including restricted cash[25] Merger with Motiv Electric Trucks - Workhorse is undergoing a strategic merger with Motiv Electric Trucks to broaden the product portfolio and strengthen the financial position[34] - Motiv's controlling investor is expected to own approximately 62.5% of the combined company, while Workhorse shareholders are expected to own approximately 26.5%, and the senior secured lender approximately 11%[35] - The transaction is expected to bring in $45 million of added financing capacity upon closing[38] - The combined company is expected to achieve cost synergies of more than $20 million by the end of 2026[51] Strategic Priorities - Workhorse aims to complete the transaction with Motiv in Q4 2025, pending shareholder approvals and financing commitments[56]

Core Viewpoint - Workhorse Group Inc. is set to hold a conference call on August 19, 2025, to discuss its second quarter 2025 financial results and a previously announced transaction with Motiv Electric Trucks [1][3]. Company Overview - Workhorse Group Inc. focuses on the transition to zero-emission commercial vehicles, designing and building vehicles in the U.S. at its facility in Union City, Indiana [4]. - Motiv Electric Trucks, founded in 2009, is a manufacturer of medium-duty, zero-emission electric trucks and buses, producing various vehicle types that eliminate tailpipe emissions [5][6]. Financial Results and Transaction Discussion - The conference call will cover Workhorse's second quarter 2025 financial results, which were released on August 15, 2025 [1][3]. - Shareholders are encouraged to submit questions in advance of the call [2]. Conference Call Details - The call is scheduled for August 19, 2025, at 10:00 a.m. ET, with dial-in numbers provided for U.S. and international participants [3]. - A live broadcast and replay of the call will be available through Workhorse's website [4]. Regulatory and Proxy Information - Workhorse plans to file a Proxy Statement with the SEC regarding the proposed transaction with Motiv, urging shareholders to read the document carefully once available [7].

Financial Performance - Q1 2025 sales were $06 million, a decrease of $07 million compared to $13 million in Q1 2024, primarily due to the Aero divestiture and lower W4 CC and W56 truck sales[21] - Q1 2025 cost of sales was $52 million, a decrease of $22 million compared to $74 million in Q1 2024, mainly due to lower sales volume, partially offset by lower inventory reserves of $05 million and lower direct and indirect labor costs of $16 million[22] - Q1 2025 SG&A expenses were $68 million, a decrease of $73 million compared to $141 million in Q1 2024, driven by lower employee compensation ($44 million), consulting expenses ($10 million), legal and professional expenses ($07 million), marketing expenses ($05 million), and IT expenses ($05 million)[23] - Q1 2025 R&D expenses were $15 million, a decrease of $20 million compared to $35 million in Q1 2024, primarily driven by lower employee compensation ($13 million)[24] - Cash and cash equivalents, including restricted cash, totaled $306 million as of March 31, 2025[25,26] Operational Highlights - Secured initial W56 order with Gateway Fleets and purchase orders for 27 W56 step vans and 6 W4 CC/W750[10] - Delivered fully-upfitted W56 178-inch step-vans to FedEx, with vans to be in service at 12 FedEx terminals by the end of Q2[10] - Completed a 2,400-mile cross-country trip with the W56, achieving 27 MPGe at highway speeds, 53% lower fuel costs, and 40% lower scheduled maintenance than ICE vehicles[16] Strategic Priorities - The company is focused on converting finished goods inventory to cash, aiming to ship more trucks in Q2 2025 than in all of 2024[29] - The company reduced the cash burn rate to $28 million per month by year-end 2024[29] - Near-term priorities include growing backlog, advancing product roadmaps, and strengthening the financial position[31]

Financial Performance - Net sales decreased by $65 million, from $1309 million in 2023 to $6616 million in 2024 [24] - Cost of sales decreased by $95 million, from $3835 million in 2023 to $2884 million in 2024 [25] - Operating expenses decreased by $2838 million, from $8004 million in 2023 to $5166 million in 2024 [24] - Net loss decreased by $2213 million, from $12391 million in 2023 to $10179 million in 2024 [24] - Cash and cash equivalents decreased by $2172 million, from $2585 million in 2023 to $412 million in 2024 [30] Operational Highlights - Secured an order for 13 W56 trucks for a California-based linen fleet [11] - Reduced operating expenses to approximately $3 million per month [11] - The company's W56 trucks achieved a 96% uptime rate during peak season testing [23] Strategic Priorities - The company aims to reduce the cash burn rate [34] - The company plans to grow backlog and advance product roadmaps [36] - The company intends to strengthen its financial position [36]