Workhorse Group, Inc. (WKHS)

From the record

Workhorse Group, Inc.'s filings since 2017 show 14 warning events of 4 kinds: a notice about its exchange listing (8-K item 3.01, 4 times, the latest 2024-10-03); a warning not to rely on past financial statements (8-K item 4.02, 2 times, the latest 2019-11-01); an auditor change (8-K item 4.01, 4 times, the latest 2026-01-21); a late-report notice (Form NT 10-K or NT 10-Q, 4 times, the latest 2025-08-14) (its current reports).

From the record

Workhorse Group, Inc.'s 8 filed years say what it did: revenue went from $763 thousand in fiscal 2018 to $21 million in fiscal 2025, up 60.8% a year; it rose in 3 of 6 years; the deepest fall was 161% from fiscal 2020 to fiscal 2021; net income was positive in 1 of 8 of those years (its annual reports).

From the record

Return on equity: in the fiscal year ended 2025-12-31, Workhorse Group, Inc. lost about 149 cents for every dollar of shareholders' money, and gross profitability: its products earned less than nothing, about minus 8 cents per dollar of everything the company owns. Leverage: it owed about 63 cents per dollar of assets, and net share issuance: its share count grew 73.3% over the year (the filed statements).

From the record

Workhorse Group, Inc.'s standing among 27 graded names in its industry family: revenue of $21 million in fiscal 2025 ranks in the bottom 31% by size; a net margin of -302.1% ranks in the bottom 17%; revenue growth of 61.6% a year over the last 3 filed years ranks in the top 6% (its annual reports).

From the record

Workhorse Group, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Griffith, Scott W. (Chief Executive Officer, as filed), filing under that title since 2025-12-15, 11 months (bottom 19% of its family); the 20 officers and directors filing in the last fifteen months have been on the record a median of 4 years (bottom 25%); 10 officer or director changes were reported on Form 8-K since 2023-11-13, against the 20 people in charge now (bottom 45%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

Workhorse Group, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $13 million against no long-term debt tagged leaves 11% of its assets as net cash, top 39% of its family; cash from operations less capital spending is -170.5% of revenue (bottom 13%); a gross margin of -45% (bottom 15%); research spending of 62.1% of revenue (top 10%) (its annual report).

From the record

Workhorse Group, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 61.6% a year over the last three filed years against 60.8% over all 8, speeding up (top 34% of its family); the newest year grew 201.3% (top 2%); research spending grew -17.2% a year (bottom 33%); capital spending grew -67.4% a year (bottom 6%) (its annual reports). Workhorse Group, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

From the record

Workhorse Group, Inc.'s newest year against its own record: revenue of $21 million in fiscal 2025 came in 154.3% above the $8 million its prior three years' pace pointed to (top 2% of its family); net income of $64 million against a prior three-year average of $98 million (top 25%); a net margin of a loss larger than its revenue against losses larger than its revenue before (top 6%) (its annual reports).