Workhorse Group Stock Price, News & Analysis

Workhorse Group (NASDAQ: WKHS) announced it is in discussions regarding a potential merger with a privately held U.S.-based electric commercial vehicle manufacturer. The transaction would result in the manufacturer's current investors holding a majority stake in Workhorse's common stock.

The deal includes a refinancing plan for Workhorse's senior secured convertible notes and warrants, involving a new convertible note and an approximately $20 million sale-leaseback of its Union City facility. The company's current note obligations of about $33 million would be repaid, with the investor receiving 3 million new shares. Workhorse has entered a 14-day exclusivity agreement with the manufacturer.

Workhorse Group (WKHS) reported Q1 2025 financial results with sales of $0.6 million, down from $1.3 million year-over-year. The company secured new orders for 27 W56 step vans and six W4 CC/W750 trucks in 2025. Notable achievements include beginning deliveries of 208-inch extended wheelbase W56 step vans, completing a 2,400-mile demonstration drive, and integrating Geotab telematics technology. Financial metrics show cash and equivalents of $2.6 million, restricted cash of $27.9 million, and inventory of $41.3 million. The company reduced operating expenses by $9.3 million year-over-year and regained Nasdaq compliance through a 1-for-12.5 reverse stock split. Q2 2025 shipments have already reached 18 trucks, six times Q1's volume, with aims to exceed 2024's total shipments by Q2 end.

Workhorse Group (WKHS) has expanded its national dealer network by adding two new locations. Range Truck Group in Fife, Washington joins as a key Pacific Northwest partner, specializing in zero-emission commercial vehicles and charging solutions. Additionally, a third Ziegler Truck Group location in DeForest, Wisconsin strengthens Workhorse's Midwest presence.

The expansion enhances access to Workhorse's Class 4-6 all-electric work trucks. Notably, Ziegler Truck Group is an approved CARB HVIP dealer, providing access to clean transportation incentives. These strategic additions support Workhorse's mission of facilitating the transition to zero-emission commercial vehicles while ensuring reliable dealer support for fleet customers.

Workhorse Group (NASDAQ: WKHS), a technology company focused on zero-emission commercial vehicles, has scheduled its Q1 2025 earnings conference call for Thursday, May 15, 2025 at 8:00 a.m. ET. The company will release its financial results for the quarter ended March 31, 2025, via press release before the call.

The conference call will include a management presentation followed by a Q&A session. Investors can access the call through U.S. dial-in (877-407-8289) or International dial-in (201-689-8341). A replay will be available until May 22, 2025, and can be accessed through the company's website or via telephone.

Workhorse Group (WKHS) has successfully completed a 2,400-mile cross-country drive with its W56 electric step van from Cincinnati to Anaheim for the ACT Expo. The journey demonstrated the vehicle's real-world capabilities across nine states and multiple charging networks.

The W56 achieved impressive performance metrics, including 27 miles per gallon gasoline-equivalent (MPGe) at highway speeds—nearly triple the efficiency of comparable internal combustion engine (ICE) step vans. The vehicle delivered 53% lower fuel costs compared to ICE alternatives and projects 40% lower scheduled maintenance costs over five years.

The Class 5 & 6 step van offers up to 150-miles of real-world range and cargo capacities of 1,000 or 1,200 cubic feet. The demonstration is part of Workhorse's 'We Drove It Here' campaign, which began in October 2024. Both the W56 and W750 models are now approved for sale in Canada.

Workhorse Group (WKHS) has successfully regained compliance with Nasdaq's minimum bid price requirement of $1.00 per share, following a notification of non-compliance received on October 2, 2024. The company, which focuses on zero-emission commercial vehicles, implemented a 1-for-12.5 reverse stock split on March 17, 2025, to increase its market price.

The compliance was achieved by maintaining a closing bid price of at least $1.00 per share for ten consecutive trading days, as confirmed by Nasdaq. This development ensures Workhorse's continued listing on the Nasdaq stock exchange under Listing Rule 5550(a)(2).

Workhorse Group (WKHS) reported full year 2024 financial results, showing net sales of $6.6 million, down from $13.1 million in 2023. The company posted a net loss of $101.8 million, improved from $123.9 million loss in 2023.

Key developments include Transport Canada's approval of W4 CC and W56 models, launch of W56 208-inch wheelbase truck with 20% increased cargo capacity, and securing orders including 13 W56 trucks from a national uniform provider. The company expanded its dealer network and reduced operating costs across operations.

Financial position shows total working capital of $8.2 million, including $4.6 million in cash. In February 2025, Workhorse issued a $35 million convertible note and implemented a 1-for-12.5 reverse stock split to regain Nasdaq compliance.

Workhorse Group (Nasdaq: WKHS) has announced the integration of Geotab's advanced telematics technology into its W56 step van. This integration enables fleet managers to access comprehensive vehicle data through the MyGeotab™ platform via a unified dashboard.

The plug-and-play solution aims to help fleets reduce costs, maximize uptime, and increase efficiency. The W56, designed as a zero-emission vehicle for last-mile delivery, combines substantial cargo capacity and range with Geotab's analytics capabilities.

The partnership leverages Geotab's extensive network of over 4 million connected vehicles globally, including significant medium-duty fleet presence in the U.S. The integration provides tools for tracking and optimizing vehicles, streamlining charging schedules, and optimizing battery usage for enhanced operational efficiency.

Workhorse Group Inc. (Nasdaq: WKHS) has announced the commencement of deliveries for its new 208-inch extended wheelbase W56 step vans. The order, secured in 2024, comprises 13 vehicles to be delivered to a national provider of uniforms and workplace supplies in 2025.

The delivery will be facilitated through partnerships with Revolv, a fleet electrification solutions provider, and Kingsburg Truck Center, a certified Workhorse dealer responsible for custom upfitting. The extended wheelbase W56 features 1,200 cubic feet of cargo space, up to 150 miles of range on a single charge, and approximately 10,000 pounds of payload capacity.