Workhorse Group Inc.
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 31, 2025
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
Consolidated Balance Sheets F-
Consolidated Balance Sheets
| December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $4,119,938 | $25,845,915 |
| Restricted cash | 525,000 | 10,000,000 |
| Accounts receivable, less allowance for credit losses of $309,313 and $190,724 at December 31, 2024 and 2023, respectively | 537,536 | 2,326,774 |
| Other receivable, net | 544,436 | 2,143,435 |
| Inventory, net | 41,839,020 | 45,408,192 |
| Prepaid expenses and other current assets, net | 5,865,890 | 8,101,162 |
| Total current assets | 53,431,820 | 93,825,478 |
| Property, plant and equipment, net | 32,976,581 | 37,876,955 |
| Operating lease right-of-use assets | 3,247,548 | 4,174,800 |
| Financing lease right-of-use assets | 4,008,510 | 5,621,181 |
| Other assets | 176,310 | 176,310 |
| Total Assets | $93,840,769 | $141,674,724 |
| Liabilities | ||
| Current liabilities: | ||
| Accounts payable | $11,509,150 | $12,456,272 |
| Accrued liabilities and other | 8,731,915 | 4,862,740 |
| Deferred revenue, current portion | 6,350,581 | 4,714,331 |
| Warranty liability | 861,409 | 1,902,647 |
| Operating lease liability - current portion | 984,407 | 1,012,428 |
| Finance lease liability - current portion | 528,023 | 2,548,184 |
| Warrant liability | 5,778,660 | 5,605,325 |
| Current portion of convertible notes | 10,491,792 | 20,180,100 |
| Total current liabilities | 45,235,937 | 53,282,027 |
| Operating lease liability-long-term | 4,295,743 | 5,280,526 |
| Financing lease liability-long-term | 21,165 | — |
| Total Liabilities | 49,552,845 | 58,562,553 |
| Commitments and contingencies | ||
| Stockholders’ Equity* | ||
| Common stock, par value of $0.001 per share, 36,000,000 shares authorized 3,843,336 and 1,143,924 shares issued and outstanding at December 31, 2024 and 2023, respectively* | 3,843 | 1,143 |
| Additional paid-in capital* | 897,642,626 | 834,679,279 |
| Accumulated deficit | (853,358,544) | (751,568,251) |
| Total stockholders' equity | 44,287,925 | 83,112,171 |
| Total Liabilities and Stockholders' Equity | $93,840,770 | $141,674,724 |
- Periods presented have been adjusted to reflect the 2024 Reverse stock split (1-for-20) which was effective June 17, 2024 and the 2025 Reverse stock split (1-for-12.5) which was effective March 17, 2025. Additional information regarding the reverse stock split may be found in Note 1 – Summary of Business and Significant Accounting Principles.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.