Workhorse Group Inc. (WKHS) Form 8-K — Aug 13, 2026
Workhorse Group reported Q2 2026 revenue of $3.6 million, up from $0.8 million a year earlier on a GAAP basis, with 26 vehicles delivered versus 4, but the net loss widened to $20.2 million ($1.86 per share) from $12.8 million ($1.38). On a pro forma combined basis reflecting the December 2025 Motiv reverse merger, Q2 2025 revenue was $6.4 million, meaning combined revenue actually declined year over year. Liquidity is the pressing issue: the company ended June with $9.6 million of cash plus $0.7 million restricted after burning $40.6 million of operating cash in the first half.
Key figures
- Revenue
- $3.6 million Q2 2026 GAAP vs $0.8 million Q2 2025 GAAP; Q2 2025 pro forma combined was $6.4 million
- Total Assets
- 110142000
- Cash Position
- 9629000
- Shares Outstanding
- 10893417
- Rnd Q2
- $4.1 million
- Sga Q2
- $7.8 million
- Gross Loss Q2
- $7.5 million on $11.0 million cost of sales
- Sales Pipeline
- More than doubled since the start of 2026
- H1 2026 net Loss
- $40.1 million, or $3.84 per share
- H1 2026 revenue
- $7.9 million vs $8.2 million pro forma combined H1 2025
- Operating Loss Q2
- $19.4 million vs $9.0 million in Q2 2025
- Related Party Debt
- $30.0 million Cash Flow Credit Agreement + $18.25 million Customer Order Credit Agreement + $5.9 million convertible notes at fair value
- Cost Synergy Target
- $20 million annualized run rate expected exiting 2026
- Vehicles Delivered
- 26 in Q2 2026 vs 4 in Q2 2025
- Accumulated Deficit
- $359.1 million
- Stockholders Equity
- $7.2 million at June 30, 2026 vs $43.0 million at December 31, 2025
- Subsequent Borrowing
- $10 million drawn post quarter-end under amended Cash Flow Credit Agreement
- H1 2026 operating Cash Burn
- $40.6 million net cash used in operating activities
- Ai Data Center Market Estimate
- $41 billion by 2031
- Medium Duty Truck Market Estimate
- $23 billion
Price after filing
Close on the filing date to close N calendar days later (from $3.13). Historical, not a forecast.
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