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Workhorse | 8-K: Workhorse Group Reports Second Quarter 2024 Results

Workhorse | 8-K: Workhorse Group Reports Second Quarter 2024 Results

Workhorse | 8-K:Workhorse 集團公佈2024年第二季度業績
美股SEC公告 ·  2024/08/20 21:03

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Workhorse Group reported Q2 2024 sales of $0.8M, down from $4.0M in the same period last year, with a net loss of $26.3M. The company received a purchase order for 141 W4 CC vehicles from Kingsburg Truck Sales, though revenue recognition was limited due to CARB HVIP voucher approval delays.The company is expanding its product lineup with a new W56 208-inch wheelbase vehicle planned for Q4 2024 production and a 140kWh version expected in early 2025. Workhorse strengthened its dealer network by adding three new dealers and securing a Sourcewell contract for government procurement across North America.Strategic actions included completing the Aero business divestiture for monthly cost savings of $0.4M, implementing cost reduction measures, and regaining NASDAQ compliance through a 1-for-20 reverse stock split. The company ended Q2 with $5.3M in cash and $46.5M in inventory, focusing on strengthening its financial position while advancing its commercial EV strategy.
Workhorse Group reported Q2 2024 sales of $0.8M, down from $4.0M in the same period last year, with a net loss of $26.3M. The company received a purchase order for 141 W4 CC vehicles from Kingsburg Truck Sales, though revenue recognition was limited due to CARB HVIP voucher approval delays.The company is expanding its product lineup with a new W56 208-inch wheelbase vehicle planned for Q4 2024 production and a 140kWh version expected in early 2025. Workhorse strengthened its dealer network by adding three new dealers and securing a Sourcewell contract for government procurement across North America.Strategic actions included completing the Aero business divestiture for monthly cost savings of $0.4M, implementing cost reduction measures, and regaining NASDAQ compliance through a 1-for-20 reverse stock split. The company ended Q2 with $5.3M in cash and $46.5M in inventory, focusing on strengthening its financial position while advancing its commercial EV strategy.
Workhorse Group報告了2024年第二季度銷售額爲80萬美元,低於去年同期的400萬美元,淨虧損爲2630萬美元。該公司收到了來自Kingsburg Truck Sales的141輛W4 CC車輛的訂單,但由於CARb HVIP補貼批准延遲,收入確認受到限制。公司正在擴展其產品系列,計劃在2024年第四季度生產一款新的W56 208英寸軸距車輛,並預計在2025年初推出140kWh版本。Workhorse通過增加三家新經銷商和獲得Sourcewell合同以便在北美進行政府採購,強化了其經銷商網絡。戰略行動包括完成航天業務的剝離,月度節省成本40萬美元,實施成本降低措施,並通過1比20的反向股票拆分恢復納斯達克合規性。公司在第二季度末持有530萬美元現金和4650萬美元庫存,專注於加強其財務狀況,同時推進其商業電動車策略。
Workhorse Group報告了2024年第二季度銷售額爲80萬美元,低於去年同期的400萬美元,淨虧損爲2630萬美元。該公司收到了來自Kingsburg Truck Sales的141輛W4 CC車輛的訂單,但由於CARb HVIP補貼批准延遲,收入確認受到限制。公司正在擴展其產品系列,計劃在2024年第四季度生產一款新的W56 208英寸軸距車輛,並預計在2025年初推出140kWh版本。Workhorse通過增加三家新經銷商和獲得Sourcewell合同以便在北美進行政府採購,強化了其經銷商網絡。戰略行動包括完成航天業務的剝離,月度節省成本40萬美元,實施成本降低措施,並通過1比20的反向股票拆分恢復納斯達克合規性。公司在第二季度末持有530萬美元現金和4650萬美元庫存,專注於加強其財務狀況,同時推進其商業電動車策略。
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