Workhorse Group Inc. — Financial Data
Annual figures from SEC EDGAR XBRL filings (10-K)
These figures are extracted directly from XBRL-tagged financial statements that Workhorse Group Inc. filed with the SEC as part of its annual 10-K reports. XBRL (eXtensible Business Reporting Language) is a structured data format the SEC requires for machine-readable financial disclosures. Values shown are as reported — negative figures indicate a loss and are shown in red.
Revenue
Total revenue from all business activities — the top line of the income statement. Represents all money earned before any expenses are deducted.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2018 | Dec 31, 2018 | $763.2K | Mar 18, 2019 |
| FY2018 | Dec 31, 2017 | $10.04M | Mar 18, 2019 |
Revenue
Revenue recognized from contracts with customers under ASC 606, excluding taxes collected on behalf of government authorities. This is the primary revenue concept for many companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $21.21M | Mar 31, 2026 |
| FY2025 | Dec 31, 2024 | $7.04M | Mar 31, 2026 |
| FY2024 | Dec 31, 2023 | $13.09M | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | $5.02M | Mar 12, 2024 |
| FY2022 | Dec 31, 2021 | ($851.9K) | Mar 1, 2023 |
| FY2022 | Dec 31, 2020 | $1.39M | Mar 1, 2023 |
| FY2020 | Dec 31, 2019 | $376.6K | Mar 1, 2021 |
| FY2019 | Dec 31, 2018 | $763.2K | Mar 13, 2020 |
Revenue (Net Sales)
Net sales revenue — gross revenue less returns, allowances, and discounts. Used by many manufacturers and retailers as the primary top-line figure.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2017 | Dec 31, 2017 | $5.51M | Mar 14, 2018 |
| FY2017 | Sep 30, 2017 | $3.29M | Mar 14, 2018 |
| FY2017 | Jun 30, 2017 | $270.0K | Mar 14, 2018 |
| FY2017 | Mar 31, 2017 | $1.78M | Mar 14, 2018 |
| FY2017 | Dec 31, 2016 | $3.04M | Mar 14, 2018 |
| FY2017 | Sep 30, 2016 | $1.91M | Mar 14, 2018 |
| FY2017 | Jun 30, 2016 | $1.23M | Mar 14, 2018 |
| FY2017 | Mar 31, 2016 | $236.0K | Mar 14, 2018 |
| FY2016 | Dec 31, 2015 | $140.0K | Mar 14, 2017 |
| FY2016 | Sep 30, 2015 | $72.0K | Mar 14, 2017 |
Gross Profit
Revenue minus the cost of goods sold (COGS). Gross profit shows how much revenue remains to cover operating expenses, R&D, and administrative costs before calculating operating income.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($9.56M) | Mar 31, 2026 |
| FY2025 | Dec 31, 2024 | ($6.15M) | Mar 31, 2026 |
| FY2024 | Dec 31, 2023 | ($25.26M) | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | ($32.65M) | Mar 12, 2024 |
| FY2022 | Dec 31, 2021 | ($133.34M) | Mar 1, 2023 |
| FY2022 | Dec 31, 2020 | ($11.67M) | Mar 1, 2023 |
| FY2021 | Dec 31, 2019 | ($5.47M) | Mar 1, 2022 |
| FY2019 | Dec 31, 2018 | ($15.19M) | Mar 13, 2020 |
| FY2017 | Dec 31, 2017 | ($6.14M) | Mar 14, 2018 |
| FY2017 | Sep 30, 2017 | ($4.27M) | Mar 14, 2018 |
Net Income
The bottom-line profit — what remains after all operating expenses, interest, taxes, and other costs are deducted. A negative value means the company reported a net loss for the year.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($64.09M) | Mar 31, 2026 |
| FY2025 | Dec 31, 2024 | ($51.59M) | Mar 31, 2026 |
| FY2024 | Dec 31, 2023 | ($123.92M) | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | ($117.27M) | Mar 12, 2024 |
| FY2022 | Dec 31, 2021 | ($401.34M) | Mar 1, 2023 |
| FY2022 | Dec 31, 2020 | $69.78M | Mar 1, 2023 |
| FY2021 | Dec 31, 2019 | ($37.16M) | Mar 1, 2022 |
| FY2019 | Dec 31, 2018 | ($36.50M) | Mar 13, 2020 |
| FY2017 | Dec 31, 2017 | ($12.46M) | Mar 14, 2018 |
| FY2017 | Sep 30, 2017 | ($12.66M) | Mar 14, 2018 |
Operating Income
Profit from core business operations before interest expense and income taxes (also known as EBIT). Excludes non-operating items, making it a cleaner measure of operational efficiency than net income.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($47.44M) | Mar 31, 2026 |
| FY2025 | Dec 31, 2024 | ($41.33M) | Mar 31, 2026 |
| FY2024 | Dec 31, 2023 | ($105.30M) | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | ($129.08M) | Mar 12, 2024 |
| FY2022 | Dec 31, 2021 | ($185.11M) | Mar 1, 2023 |
| FY2022 | Dec 31, 2020 | ($40.98M) | Mar 1, 2023 |
| FY2021 | Dec 31, 2019 | ($23.87M) | Mar 1, 2022 |
| FY2019 | Dec 31, 2018 | ($34.07M) | Mar 13, 2020 |
R&D Expense
Spending on research and development activities — developing new products, improving existing ones, or conducting basic research. High R&D relative to revenue is common in technology and pharmaceutical companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $13.16M | Mar 31, 2026 |
| FY2025 | Dec 31, 2024 | $12.89M | Mar 31, 2026 |
| FY2024 | Dec 31, 2023 | $24.47M | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | $23.21M | Mar 12, 2024 |
| FY2022 | Dec 31, 2021 | $11.61M | Mar 1, 2023 |
| FY2022 | Dec 31, 2020 | $9.15M | Mar 1, 2023 |
| FY2021 | Dec 31, 2019 | $8.20M | Mar 1, 2022 |
| FY2019 | Dec 31, 2018 | $7.39M | Mar 13, 2020 |
| FY2018 | Dec 31, 2017 | $17.74M | Mar 18, 2019 |
| FY2017 | Dec 31, 2016 | $6.15M | May 9, 2018 |
SG&A Expense
Selling, general, and administrative expenses — the overhead costs of running the business, including salaries, marketing, legal fees, and corporate office costs. Excludes COGS and R&D.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $24.72M | Mar 31, 2026 |
| FY2025 | Dec 31, 2024 | $16.05M | Mar 31, 2026 |
| FY2024 | Dec 31, 2023 | $55.57M | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | $73.22M | Mar 12, 2024 |
| FY2022 | Dec 31, 2021 | $40.16M | Mar 1, 2023 |
| FY2022 | Dec 31, 2020 | $20.16M | Mar 1, 2023 |
| FY2021 | Dec 31, 2019 | $10.20M | Mar 1, 2022 |
| FY2019 | Dec 31, 2018 | $11.49M | Mar 13, 2020 |
| FY2018 | Dec 31, 2017 | $8.82M | Mar 18, 2019 |
| FY2017 | Dec 31, 2016 | $6.20M | May 9, 2018 |
Operating Cash Flow
Cash generated from core business operations — a more reliable measure of financial health than net income because it strips out non-cash items like depreciation and one-time charges.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($35.55M) | Mar 31, 2026 |
| FY2025 | Dec 31, 2024 | ($38.15M) | Mar 31, 2026 |
| FY2024 | Dec 31, 2023 | ($123.02M) | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | ($93.82M) | Mar 12, 2024 |
| FY2022 | Dec 31, 2021 | ($132.58M) | Mar 1, 2023 |
| FY2022 | Dec 31, 2020 | ($70.28M) | Mar 1, 2023 |
| FY2021 | Dec 31, 2019 | ($36.87M) | Mar 1, 2022 |
| FY2019 | Dec 31, 2018 | ($21.75M) | Mar 13, 2020 |
| FY2018 | Dec 31, 2017 | ($38.66M) | Mar 18, 2019 |
| FY2017 | Dec 31, 2016 | ($19.03M) | May 9, 2018 |
Capital Expenditures (Capex)
Cash spent on acquiring or upgrading physical assets — property, equipment, and infrastructure. High capex businesses include manufacturing, telecom, and energy companies.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $603.0K | Mar 31, 2026 |
| FY2025 | Dec 31, 2024 | $4.76M | Mar 31, 2026 |
| FY2024 | Dec 31, 2023 | $18.69M | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | $17.50M | Mar 12, 2024 |
| FY2022 | Dec 31, 2021 | $5.31M | Mar 1, 2023 |
| FY2022 | Dec 31, 2020 | $5.73M | Mar 1, 2023 |
| FY2021 | Dec 31, 2019 | $2.00M | Mar 1, 2022 |
| FY2019 | Dec 31, 2018 | $23.2K | Mar 13, 2020 |
| FY2018 | Dec 31, 2017 | $143.4K | Mar 18, 2019 |
| FY2017 | Dec 31, 2016 | $528.1K | May 9, 2018 |
Total Assets
The total value of everything the company owns or controls — cash, investments, receivables, property, equipment, and intangibles. Reported as of fiscal year end.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $117.89M | Mar 31, 2026 |
| FY2025 | Dec 31, 2024 | $37.41M | Mar 31, 2026 |
| FY2024 | Dec 31, 2023 | $141.67M | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | $182.74M | Mar 12, 2024 |
| FY2022 | Dec 31, 2021 | $228.14M | Mar 1, 2023 |
| FY2021 | Dec 31, 2020 | $632.54M | Mar 1, 2022 |
| FY2020 | Dec 31, 2019 | $50.67M | Mar 1, 2021 |
| FY2019 | Dec 31, 2018 | $11.80M | Mar 13, 2020 |
| FY2018 | Dec 31, 2017 | $16.50M | Mar 18, 2019 |
| FY2017 | Dec 31, 2016 | $10.24M | May 9, 2018 |
Total Liabilities
All financial obligations owed to outside parties — including debt, accounts payable, accrued expenses, and deferred revenue. Subtracting liabilities from total assets gives stockholders' equity.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $74.85M | Mar 31, 2026 |
| FY2025 | Dec 31, 2024 | $78.23M | Mar 31, 2026 |
| FY2024 | Dec 31, 2023 | $58.56M | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | $74.16M | Mar 12, 2024 |
| FY2022 | Dec 31, 2021 | $53.45M | Mar 1, 2023 |
| FY2021 | Dec 31, 2020 | $237.34M | Mar 1, 2022 |
| FY2020 | Dec 31, 2019 | $85.59M | Mar 1, 2021 |
Stockholders Equity
The net worth attributable to shareholders: total assets minus total liabilities. Also called book value. Can be negative if liabilities exceed assets, which is common in capital-intensive industries.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $43.04M | Mar 31, 2026 |
| FY2025 | Dec 31, 2024 | ($40.82M) | Mar 31, 2026 |
| FY2025 | Dec 31, 2023 | ($55.64M) | Mar 31, 2026 |
| FY2024 | Dec 31, 2022 | $108.59M | Mar 31, 2025 |
| FY2023 | Dec 31, 2021 | $174.69M | Mar 12, 2024 |
| FY2022 | Dec 31, 2020 | $395.20M | Mar 1, 2023 |
| FY2022 | Dec 31, 2019 | ($34.91M) | Mar 1, 2023 |
| FY2021 | Dec 31, 2018 | ($15.42M) | Mar 1, 2022 |
| FY2019 | Dec 31, 2017 | $3.51M | Mar 13, 2020 |
| FY2018 | Dec 31, 2016 | $3.82M | Mar 18, 2019 |
Goodwill
An intangible asset representing the premium paid above fair value when acquiring another company. A large goodwill balance signals a history of acquisitions at premium prices.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $3.13M | Mar 31, 2026 |
| FY2025 | Dec 31, 2024 | $0 | Mar 31, 2026 |
| FY2025 | Dec 31, 2023 | $0 | Mar 31, 2026 |
Retained Earnings
Cumulative net income kept by the company rather than distributed as dividends. A growing retained earnings balance indicates consistent profitability; a deficit indicates cumulative losses.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | ($319.02M) | Mar 31, 2026 |
| FY2025 | Dec 31, 2024 | ($254.94M) | Mar 31, 2026 |
| FY2024 | Dec 31, 2023 | ($751.57M) | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | ($627.65M) | Mar 12, 2024 |
| FY2022 | Dec 31, 2021 | ($510.37M) | Mar 1, 2023 |
| FY2021 | Dec 31, 2020 | ($109.03M) | Mar 1, 2022 |
| FY2020 | Dec 31, 2019 | ($178.81M) | Mar 1, 2021 |
| FY2019 | Dec 31, 2018 | ($141.56M) | Mar 13, 2020 |
| FY2018 | Dec 31, 2017 | ($104.29M) | Mar 18, 2019 |
| FY2017 | Dec 31, 2016 | ($63.07M) | May 9, 2018 |
Cash & Equivalents
Highly liquid assets the company holds — cash on hand, bank balances, and short-term investments with maturities of three months or less. A key indicator of short-term financial health.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $12.92M | Mar 31, 2026 |
| FY2025 | Dec 31, 2024 | $6.63M | Mar 31, 2026 |
| FY2024 | Dec 31, 2023 | $25.85M | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | $99.28M | Mar 12, 2024 |
| FY2022 | Dec 31, 2021 | $201.65M | Mar 1, 2023 |
| FY2021 | Dec 31, 2020 | $46.82M | Mar 1, 2022 |
| FY2020 | Dec 31, 2019 | $23.87M | Mar 1, 2021 |
| FY2019 | Dec 31, 2018 | $1.51M | Mar 13, 2020 |
| FY2018 | Dec 31, 2017 | $4.07M | Mar 18, 2019 |
| FY2018 | Dec 31, 2016 | $469.6K | Mar 18, 2019 |
Long-Term Debt
Debt obligations due more than one year from the balance sheet date — bonds, term loans, and notes payable. High long-term debt relative to equity can signal elevated financial leverage.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2019 | Dec 31, 2019 | $39.02M | Mar 13, 2020 |
| FY2019 | Dec 31, 2018 | $8.31M | Mar 13, 2020 |
| FY2018 | Dec 31, 2017 | $6.85M | Mar 18, 2019 |
| FY2017 | Dec 31, 2016 | $2.17M | May 9, 2018 |
| FY2016 | Dec 31, 2015 | $2.77M | Mar 14, 2017 |
| FY2015 | Dec 31, 2014 | $2.53M | Mar 25, 2016 |
| FY2014 | Dec 31, 2013 | $2.63M | Mar 30, 2015 |
| FY2013 | Dec 31, 2012 | $592.9K | Apr 15, 2014 |
| FY2012 | Dec 31, 2011 | $90.2K | Apr 12, 2013 |
EPS (Basic)
Net income divided by the weighted average shares outstanding. Basic EPS does not account for dilutive securities like options or convertible bonds — use diluted EPS for a more conservative view.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | (6) | Mar 31, 2026 |
| FY2025 | Dec 31, 2024 | (9) | Mar 31, 2026 |
| FY2024 | Dec 31, 2023 | (149) | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | 0 | Mar 12, 2024 |
| FY2022 | Dec 31, 2021 | (3) | Mar 1, 2023 |
| FY2022 | Dec 31, 2020 | 0 | Mar 1, 2023 |
| FY2021 | Dec 31, 2019 | 0 | Mar 1, 2022 |
EPS (Diluted)
Net income divided by the fully diluted share count — including all potential shares from options, warrants, and convertible instruments. The more conservative and widely cited EPS figure.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | (6) | Mar 31, 2026 |
| FY2025 | Dec 31, 2024 | (9) | Mar 31, 2026 |
| FY2024 | Dec 31, 2023 | (149) | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | 0 | Mar 12, 2024 |
| FY2022 | Dec 31, 2021 | (3) | Mar 1, 2023 |
| FY2022 | Dec 31, 2020 | 0 | Mar 1, 2023 |
| FY2021 | Dec 31, 2019 | 0 | Mar 1, 2022 |
Shares Outstanding
Total common shares issued and held by all shareholders, excluding treasury shares. Combined with market price gives market capitalization.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 9.70M | Mar 31, 2026 |
| FY2024 | Dec 31, 2024 | 1.14M | Mar 31, 2025 |
| FY2024 | Dec 31, 2023 | 1.14M | Mar 31, 2025 |
| FY2023 | Dec 31, 2022 | 165.61M | Mar 12, 2024 |
| FY2022 | Dec 31, 2021 | 151.92M | Mar 1, 2023 |
| FY2021 | Dec 31, 2020 | 121.92M | Mar 1, 2022 |
| FY2020 | Dec 31, 2019 | 67.11M | Mar 1, 2021 |
| FY2019 | Dec 31, 2018 | 58.27M | Mar 13, 2020 |
| FY2018 | Dec 31, 2017 | 41.53M | Mar 18, 2019 |
| FY2017 | Dec 31, 2016 | 27.58M | May 9, 2018 |