Workhorse Group Inc.
For the period ended Dec 31, 2025. Filed Mar 31, 2026.
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FY2025 · Filed Mar 31, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Stockholders’ Equity (Deficit)F-
Consolidated Statements of Stockholders’ Equity (Deficit)
| Convertible Preferred Stock* · Series APreferred Stock · Common Stock · AdditionalPaid-inCapital · AccumulatedDeficit · TotalStockholders’Equity (Deficit) | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| (in thousands) · Number of Shares · Amount · Numberof Shares · Amount · Numberof Shares · Amount | |||||||||
| Balance as of December 31, 2023 | 85,362 | $85 | — | $— | 776 | $1 | $147,626 | $(203,349) | $(55,637) |
| Conversion of series A, B and C preferred stock to common stock | (85,362) | (85) | — | — | 8,536 | 8 | 77 | — | — |
| Conversion of convertible note to Series A preferred stock | — | — | 44,643 | 45 | — | — | 49,955 | — | 50,000 |
| Debt extinguishment | — | — | — | — | — | — | 15,562 | — | 15,562 |
| Issuance of preferred stock for cash | — | — | 223 | — | — | — | 250 | — | 250 |
| Stock-based compensation | — | — | — | — | — | — | 555 | — | 555 |
| Exercise of stock options | — | — | — | — | 16 | — | 38 | — | 38 |
| Net loss | — | — | — | — | — | — | — | (51,588) | (51,588) |
| Balance as of December 31, 2024 | — | — | 44,866 | 45 | 9,328 | 9 | 214,063 | (254,937) | (40,820) |
| Stock-based compensation | — | — | — | — | — | — | 678 | — | 678 |
| Exercise of stock options | — | — | — | — | 292 | — | 17 | — | 17 |
| Motiv share cancellation upon Merger Close** | — | — | (44,866) | (45) | (9,620) | (9) | 54 | — | — |
| Shares issued upon debt extinguishment** | — | — | — | — | 6,630 | 7 | 107,729 | — | 107,736 |
| Acquired Workhorse stock | — | — | — | — | 3,070 | 3 | 39,514 | — | 39,517 |
| Net loss | — | — | — | — | — | — | — | (64,086) | (64,086) |
| Balance as of December 31, 2025 | — | $— | — | $— | 9,700 | $10 | $362,055 | $(319,023) | $43,042 |
*Convertible preferred stock is presented as a single line item in the Consolidated Statements of Stockholders' Equity. See Note 14 - Stockholders' Equity for details on individual series of convertible preferred stock.
** All outstanding preferred and common shares of Motiv were cancelled for no consideration, and new shares were issued in partial satisfaction of the financial indebtedness of Motiv.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.