WKHS Research | Milton Maxwell

WKHS

Workhorse Group Inc.

5.72

-0.24-4.03%

Dec 16, 4:00:01 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

No earnings call transcript available

Key Stats

Market Cap

50.33M

P/E (TTM)

0.07

Basic EPS (TTM)

78.24

Dividend Yield

Recent Filings

8-K

Post-merger progress update

3/9/26Mar 9, 2026

Workhorse disclosed post-merger updates on March 9, 2026, three months after closing its December 2025 merger with Motiv Power Systems. Integration nears completion, manufacturing shifts to Union City, and new supply chain financing bolsters the balance sheet—while sales pipeline strengthens. Merger unlocks $860M prior capital and 1,100 trucks deployed. Integration risks loom large.

8-K

Auditor switch disclosed

1/21/26Jan 21, 2026

Workhorse dismissed auditor BPB on January 21, 2026, after CRI acquired BPB's capital markets practice effective January 1, and appointed CRI as its new independent registered public accounting firm. BPB's 2024 audit report flagged going concern doubts but no disagreements; unremediated material weaknesses persist in debt valuations and reporting delays. Clean transition.

8-K

CEO comp approved

1/12/26Jan 12, 2026

Workhorse Group approved CEO Scott Griffith's compensation on January 6, 2026, setting his annual base salary at $600,000 retroactive to December 15, 2025, plus a 50% target bonus under the Short-Term Incentive Plan. Board plans further terms and a written agreement. Leadership now locked in.

8-K

Workhorse-Motiv merger closes

12/15/25Dec 15, 2025

Workhorse closed its merger with Motiv Power Systems on December 15, 2025, issuing 6.6M shares to MGMH and making Motiv a wholly-owned subsidiary. MGMH provided up to $50M in senior secured debt—$40M for customer orders, $10M cash flow—at SOFR+5% maturing 2028, while repaying $18.3M prior notes. New CEO Scott Griffith brings EV expertise; board overhauled.

8-K

1-for-12 reverse split effective

12/12/25Dec 12, 2025

Workhorse Group executed its 1-for-12 reverse stock split on December 8, 2025, effective immediately. Authorized shares stayed unchanged, but the company adjusted exercise prices and share counts for outstanding options, warrants, and equity awards proportionally. Fewer shares now float.

About

Workhorse Group Inc., a technology company, engages in design, manufacture, and sale of zero-emission commercial vehicles in the United States. It offers all-electric delivery vehicles and commercial vehicles under the Workhorse brand to the last mile delivery market. The company was formerly known as AMP Holding Inc. and changed its name to Workhorse Group Inc. in April 2015. Workhorse Group Inc. was founded in 2007 and is headquartered in Sharonville, Ohio.

CEO

Mr. Richard F. Dauch

IPO

6/2/2010

Website

https://www.workhorse.com

Employees

143

Sector

Consumer Cyclical

Industry

Auto Manufacturers