Workhorse Group Inc. (WKHS) Form 10-Q — Aug 13, 2026
Workhorse Group's 10-Q for the quarter ended June 30, 2026 discloses substantial doubt about its ability to continue as a going concern, warning that if additional financing cannot be obtained the company may be required to seek protection by filing a voluntary petition under the Bankruptcy Code. With $9.6 million of cash against a $40.6 million first-half operating cash burn, survival now hinges on related-party lender MGMH and a hypothetical equity raise the company itself calls not probable.
Key figures
- Revenue
- 3562000
- Total Debt
- 54165000
- Revenue Yoy
- +375% (Q2 2026 vs Q2 2025)
- Total Assets
- 110142000
- Cash Position
- 9629000
- Interest Rate
- SOFR (3-month term) + 5.00% margin
- Maturity Date
- December 15, 2028 (Credit Agreements); August 15, 2027 (A&R Convertible Note)
- Shares Outstanding
- 10928585
- Restricted Cash
- 680000
- Q2 W56 Deliveries
- 13
- Six Month Revenue
- 7891000
- Accumulated Deficit
- 359076000
- Stockholders Equity
- 7178000
- Warrant Strike Price
- 10
- Convertible Note Rate
- 8.0% per annum
- Mgmh Ownership Percent
- 68.3%
- Revenue Concentration
- Three customers represented 89% of Q2 2026 revenue
- Warrants Issued Aug2026
- 1500000
- Convertible Note Principal
- 5000000
- Customer Order Credit Outstanding
- 18250000
- Cash Flow Credit Outstanding Filing Date
- 40000000
- Customer Order Credit Remaining Availability
- 1700000
Price after filing
Close on the filing date to close N calendar days later (from $3.13). Historical, not a forecast.
AI analysis
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AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.