Workhorse Group Inc.
For the period ended Jun 30, 2026. Filed Aug 13, 2026.
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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, 2026 · Filed Aug 13, 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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Condensed Consolidated Balance Sheets
| (in thousands, except share amounts) | (Unaudited)June 30, 2026 | December 31,2025 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $9,629 | $12,240 |
| Restricted cash | 680 | 680 |
| Accounts receivable, less allowance for credit losses of $168 and $435 as of June 30, 2026 and December 31, 2025, respectively | 2,280 | 3,889 |
| Inventory, net | 38,175 | 39,065 |
| Prepaid expenses and other current assets | 5,724 | 3,948 |
| Total current assets | 56,488 | 59,822 |
| Property, plant and equipment, net | 19,547 | 22,470 |
| Goodwill | 3,226 | 3,130 |
| Intangible assets, net | 9,904 | 10,182 |
| Operating lease right-of-use assets, net | 20,373 | 21,872 |
| Other assets | 604 | 416 |
| Total Assets | $110,142 | $117,892 |
| Liabilities | ||
| Current liabilities: | ||
| Accounts payable | $13,928 | $16,301 |
| Accrued liabilities and other current liabilities | 7,027 | 8,063 |
| Deferred revenue | 1,003 | 1,615 |
| Warranty liability - current portion | 2,768 | 3,183 |
| Operating lease liability - current portion | 1,312 | 3,616 |
| Stock rights liability | — | 6,074 |
| Customer order credit agreement - related party | 18,250 | — |
| Total current liabilities | 44,288 | 38,852 |
| Operating lease liability - long-term | 20,652 | 18,777 |
| Cash flow credit agreement - related party | 30,000 | 10,000 |
| Convertible notes at fair value - related party | 5,915 | 5,429 |
| Warranty liability - long-term | 2,109 | 1,792 |
| Total Liabilities | 102,964 | 74,850 |
| Commitments and contingencies | ||
| Stockholders’ Equity: | ||
| Series A preferred stock, par value of $0.001 per share, 75,000,000 shares authorized, 0 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | — | — |
| Common stock, par value $0.001 per share, 36,000,000 shares authorized, 10,893,417 and 9,699,858 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 11 | 10 |
| Additional paid-in capital | 366,243 | 362,055 |
| Accumulated deficit | (359,076) | (319,023) |
| Total stockholders’ equity | 7,178 | 43,042 |
| Total Liabilities and Stockholders’ Equity | $110,142 | $117,892 |
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