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Midas Edge

Workhorse Group Inc.

For the period ended Jun 30, 2025. Filed Aug 15, 2025.

View on SEC.gov

About 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.

Jun 30, 2025 · Filed Aug 15, 2025

WKHS$3.42+3.0%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Stockholders’ Equity

Condensed Consolidated Statements of Stockholders’ Equity

Common Stock · AdditionalPaid-inCapital* · AccumulatedDeficit · TotalStockholders’Equity
Numberof Shares* · Amount*
Balance as of December 31, 20231,143,923$1,144$834,679,278$(751,568,251)$83,112,171
Common stock issued under ATM39,236391,242,609—1,242,648
Common stock issued under 2023 Warrant Exchange34,000342,847,466—2,847,500
Issuance of common stock under ELOC Purchase Agreement48,000483,123,9523,124,000
Common stock issued under 2024 Securities Purchase Agreement53,118533,268,394—3,268,447
Stock options and vesting of restricted shares**4,8915(163,521)—(163,516)
Stock-based compensation3,148,308—3,148,308
Net loss(29,155,787)(29,155,787)
Balance as of March 31, 20241,323,1681,323848,146,486(780,724,038)67,423,771
Common stock issued under 2024 Securities Purchase Agreement332,61133314,641,405—14,641,738
Stock options and vesting of restricted shares**3,2683(4,769)(4,766)
Stock-based compensation——2,896,2122,896,212
Net loss———(26,319,999)(26,319,999)
Balance as of June 30, 20241,659,047$1,659$865,679,334$(807,044,037)$58,636,956

*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 splits may be found in Note 1 – Summary of Business and Significant Accounting Principles to these Condensed Consolidated Financial Statements in this Quarterly Report on Form 10-Q

**Net of tax payments related to shares withheld for option exercises and vested stock.

Condensed Consolidated Statements of Stockholders’ Equity

Common Stock · AdditionalPaid-inCapital* · AccumulatedDeficit · TotalStockholders’Equity
Numberof Shares* · Amount*
Balance as of December 31, 20243,843,341$3,843$897,642,626$(853,358,544)$44,287,925
Common stock issued under ATM45,75546——46
Common stock issued under Convertible Note1,862,0031,8626,971,603—6,973,465
Stock options and vesting of restricted shares**6,492623,38723,393
Stock based compensation**——751,401—751,401
Net loss———(20,644,134)(20,644,134)
Balance as of March 31, 20255,757,5915,757905,389,017(874,002,678)31,392,096
Common stock issued under Convertible Note4,828,1314,8285,358,428—5,363,256
Stock options and vesting of restricted shares**781(16,321)(16,320)
Stock based compensation**——388,671—388,671
Net loss———(14,780,964)(14,780,964)
Balance as of June 30, 202510,585,800$10,586$911,119,795$(888,783,642)$22,346,739
  • 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 splits may be found in Note 1 – Summary of Business and Significant Accounting Principles to these Condensed Consolidated Financial Statements in this Quarterly Report on Form 10-Q

**Net of tax payments related to shares withheld for option exercises and vested stock.

See accompanying notes to the Condensed Consolidated Financial Statements

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.