Workhorse Group Inc
For the period ended Sep 30, 2024. Filed Nov 19, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 19, 2024
WKHS$3.32+7.4%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Balance Sheets
| September 30,2024 | December 31,2023 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $3,244,806 | $25,845,915 |
| Restricted cash | — | 10,000,000 |
| Accounts receivable, less allowance for credit losses of $0.2 million and $0.2 million as of September 30, 2024 and December 31, 2023, respectively | 682,673 | 2,326,774 |
| Other receivables | 3,002,143 | 2,143,435 |
| Inventory, net | 43,186,462 | 45,408,192 |
| Prepaid expenses and other current assets | 7,357,838 | 8,101,162 |
| Total current assets | 57,473,922 | 93,825,478 |
| Property, plant and equipment, net | 34,825,810 | 37,876,955 |
| Operating lease right-of-use assets, net | 3,465,637 | 4,174,800 |
| Finance lease right-of-use assets, net | 5,470,933 | 5,621,181 |
| Other assets | 176,310 | 176,310 |
| Total Assets | $101,412,612 | $141,674,724 |
| Liabilities | ||
| Current liabilities: | ||
| Accounts payable | $10,572,525 | $12,456,272 |
| Accrued and other current liabilities | 8,384,321 | 4,862,740 |
| Deferred revenue | 6,350,581 | 4,714,331 |
| Warranty liability | 776,423 | 1,902,647 |
| Operating lease liabilities, current | 1,001,120 | 1,012,428 |
| Finance lease liabilities, current | 2,100,635 | 2,548,184 |
| Warrant liability | 7,229,919 | 5,605,325 |
| Current portion of convertible notes | 13,182,467 | 20,180,100 |
| Total current liabilities | 49,597,991 | 53,282,027 |
| Operating lease liabilities, long-term | 4,556,738 | 5,280,526 |
| Total Liabilities | 54,154,729 | 58,562,553 |
| Commitments and contingencies | ||
| Stockholders’ Equity: | ||
| Common stock, par value $0.001 per share, 450,000,000 shares authorized, 31,862,091shares issued and outstanding as of September 30, 2024 and 14,299,042 shares issued and outstanding as of December 31, 2023 (presented on a reverse stock split-adjusted basis) | 31,862 | 14,299 |
| Additional paid-in capital | 879,405,617 | 834,666,123 |
| Accumulated deficit | (832,179,596) | (751,568,251) |
| Total stockholders’ equity | 47,257,883 | 83,112,171 |
| Total Liabilities and Stockholders’ Equity | $101,412,612 | $141,674,724 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.