Workhorse Group Reports Q3 2025 Revenue of $2.4 Million
Workhorse Group Inc. announced its financial results for the third quarter ended September 30, 2025. Net sales for the quarter were $2.4 million, compared to $2.5 million in the same period of 2024, representing a decrease of $0.1 million primarily due to lower sales. The company highlighted progress on its product roadmap, including the recent availability of the Utilimaster Aeromaster body for its W56 Class 5/6 step van. Workhorse also reported ongoing efforts to extend its financial runway by reducing operating costs and improving working capital. Additionally, the company provided an update on its proposed transaction with Motiv, stating that all existing senior secured indebtedness will be repaid or cancelled upon closing, with only a $5 million secured convertible note remaining, which may convert to equity. The transaction includes a condition for up to $20 million in debt financing from entities affiliated with Motiv's largest investor at closing.
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