Workhorse Group Inc. (WKHS)
Workhorse Group Inc. (WKHS)
| Balance Sheets | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Other receivables, net | NaN | NaN | 1,460,100 | 136,474 |
| Cash and cash equivalents | 600,000 | 12,920,000 | 12,726,147 | 2,190,820 |
| Restricted cash | 680,000 | NaN | 25,475,596 | 22,528,341 |
| Accounts receivable, less allowance for credit losses of 295 and 435 as of march31, 2026 and december31, 2025, respectively | 3,422,000 | 3,889,000 | 1,151,976 | 2,372,701 |
| Inventory, net | 37,272,000 | 39,065,000 | 29,999,387 | 32,757,831 |
| Prepaid expenses and other current assets | 5,059,000 | 3,948,000 | 2,148,595 | 3,702,346 |
| Total current assets | 47,033,000 | 59,822,000 | 72,961,801 | 63,688,513 |
| Property, plant and equipment, net | 20,689,000 | 22,470,000 | 21,120,568 | 29,145,327 |
| Goodwill | 3,482,000 | 3,130,000 | NaN | NaN |
| Intangible assets, net | 10,041,000 | 10,182,000 | NaN | NaN |
| Operating lease right-of-use assets, net | 21,075,000 | 21,872,000 | 22,236,613 | 6,003,964 |
| Finance lease right-of-use assets, net | NaN | NaN | 0 | 0 |
| Other assets | 416,000 | 416,000 | 416,310 | 416,308 |
| Total assets | 102,736,000 | 117,892,000 | 116,735,292 | 99,254,112 |
| Accounts payable | 13,461,000 | 11,635,000 | 11,225,948 | 10,823,073 |
| Finance lease liability - current portion | NaN | NaN | 0 | 0 |
| Warrant liability at fair value | NaN | NaN | 9,983,695 | 3,145,592 |
| Convertible notes at fair value | NaN | NaN | 27,119,114 | 39,520,020 |
| Accrued liabilities and other current liabilities | 11,993,000 | 17,031,000 | 7,127,368 | 11,200,767 |
| Deferred revenue | 1,291,000 | 496,000 | 1,057,000 | 6,048,581 |
| Warranty liability - current portion | 3,830,000 | NaN | 1,209,129 | 1,151,614 |
| Operating lease liability - current portion | 1,387,000 | 3,616,000 | 2,707,209 | 1,593,131 |
| Stock rights liability | 1,339,000 | 6,074,000 | NaN | NaN |
| Senior secured promissory note - related party | NaN | 0 | NaN | NaN |
| Customer order credit agreement - related party | 5,000,000 | NaN | NaN | NaN |
| Total current liabilities | 38,301,000 | 38,852,000 | 60,429,463 | 73,482,778 |
| Convertible note at fair value - long-term | NaN | NaN | 5,148,000 | NaN |
| Operating lease liability - long-term | 20,839,000 | 18,777,000 | 19,087,603 | 3,424,595 |
| Cash flow credit agreement - related party | 10,000,000 | 10,000,000 | NaN | NaN |
| Convertible notes at fair value - related party | 5,679,000 | 5,429,000 | NaN | NaN |
| Financing lease liability - long-term | NaN | NaN | 0 | 0 |
| Other long-term liabilities | NaN | 1,792,000 | NaN | NaN |
| Warranty liability - long-term | 1,724,000 | NaN | NaN | NaN |
| Total liabilities | 76,543,000 | 74,850,000 | 84,665,066 | 76,907,373 |
| Common stock, par value 0.001 per share, 36,000,000 shares authorized, 10,449,859 and 9,699,858 shares issued and outstanding as of march31, 2026 and december31, 2025, respectively | 11,000 | 10,000 | 21,276 | 10,586 |
| Additional paid-in capital | 365,087,000 | 362,055,000 | 928,660,494 | 911,119,795 |
| Accumulated deficit | -338,905,000 | -319,023,000 | -896,611,544 | -888,783,642 |
| Total stockholders equity | 26,193,000 | 43,042,000 | 32,070,226 | 22,346,739 |
| Total liabilities and stockholders equity | 102,736,000 | 117,892,000 | 116,735,292 | 99,254,112 |