Workhorse Group Inc.
For the period ended Dec 31, 2025. Filed Mar 31, 2026.
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FY2025 · Filed Mar 31, 2026
WKHS$3.32+7.4%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets F-
Consolidated Balance Sheets
| December 31, | ||
|---|---|---|
| (in thousands, except share amounts) | 2025 | 2024 |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $12,920 | $6,629 |
| Accounts receivable, less allowance for credit losses of $435 and $0 at December 31, 2025 and 2024, respectively | 3,889 | 3,590 |
| Inventory, net | 39,065 | 21,403 |
| Prepaid expenses and other current assets, net | 3,948 | 2,553 |
| Total current assets | 59,822 | 34,175 |
| Property, plant and equipment, net | 22,470 | 2,120 |
| Goodwill | 3,130 | — |
| Intangible assets, net | 10,182 | — |
| Operating lease right-of-use assets | 21,872 | 974 |
| Other assets | 416 | 139 |
| Total Assets | $117,892 | $37,408 |
| Liabilities | ||
| Current liabilities: | ||
| Accounts payable | $11,635 | $2,073 |
| Accrued liabilities and other current liabilities | 17,031 | 4,800 |
| Contract liability | 496 | 794 |
| Operating lease liability - current portion | 3,616 | 888 |
| Stock rights liability | 6,074 | — |
| Senior secured promissory note - related party | — | 68,363 |
| Total current liabilities | 38,852 | 76,918 |
| Operating lease liability - long-term | 18,777 | 86 |
| Cash flow credit agreement - related party | 10,000 | — |
| Convertible notes, at fair value - related party | 5,429 | — |
| Other long-term liabilities | 1,792 | 1,224 |
| Total Liabilities | 74,850 | 78,228 |
| Commitments and contingencies | ||
| Stockholders’ Equity (Deficit) | ||
| Series A preferred stock, par value of $0.001 per share, 75,000,000 and 44,866,071 shares authorized, 0 and 44,866,071 shares issued and outstanding at December 31, 2025 and 2024, respectively | — | 45 |
| Common stock, par value of $0.001 per share, 36,000,000 and 82,520,000 shares authorized, 9,699,858 and 9,328,417 shares issued and outstanding at December 31, 2025 and 2024, respectively | 10 | 9 |
| Additional paid-in capital | 362,055 | 214,063 |
| Accumulated deficit | (319,023) | (254,937) |
| Total stockholders' equity (deficit) | 43,042 | (40,820) |
| Total Liabilities and Stockholders' Equity (Deficit) | $117,892 | $37,408 |
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