LiveWire Group Inc
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
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Jun 30, 2024 · Filed Aug 7, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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12. Reportable Segments
- Reportable Segments
The Company operates intwo segments: Electric Motorcycles and STACYC. The Company’s reportable segments are strategic business units that offer different products and services and are managed separately based on the fundamental differences in their operations.
The Electric Motorcycles segment consists of the business activities related to the design and sales of electric motorcycles. The Electric Motorcycles segment also sells electric motorcycle parts, accessories, and apparel. The Company’s products are sold at wholesale to a network of independent dealers and at retail through a Company-owned dealership and through online sales, and through select international partners primarily in Europe.
The STACYC segment consists of the business activities related to the design and sales of the STACYC brand of electric balance bikes for kids. The STACYC segment also sells electric balance bike parts, accessories, and apparel. STACYC products are sold in the U.S., Canada, Australia and Europe. The STACYC segment products are sold through independent retail partners in the U.S. and Canada, including powersports dealers, H-D dealers, bicycle retailers and direct to customers online. In Australia and Europe, STACYC sells its products through independent distributors and direct to customers online in Europe.
Selected segment information is set forth below (in thousands):
| Three months ended | Six months ended | |||
|---|---|---|---|---|
| June 30,2024 | June 30,2023 | June 30,2024 | June 30,2023 | |
| Electric Motorcycles | ||||
| Revenue, net | $2,430 | $762 | $3,674 | $2,244 |
| Cost of goods sold | 5,756 | 6,092 | 12,227 | 8,532 |
| Selling, administrative and engineering expense | 23,470 | 26,568 | 47,250 | 50,379 |
| Operating loss | (26,796) | (31,898) | (55,803) | (56,667) |
| STACYC | ||||
| Revenue, net | 4,019 | 6,264 | 7,753 | 12,544 |
| Cost of goods sold | 2,475 | 3,874 | 5,109 | 7,932 |
| Selling, administrative and engineering expense | 2,913 | 2,476 | 5,428 | 4,836 |
| Operating loss | (1,369) | (86) | (2,784) | (224) |
| Operating loss | $(28,165) | $(31,984) | $(58,587) | $(56,891) |
Total assets for the Electric Motorcycles and STACYC segments were $175,263 thousand and $29,653 thousand, respectively, as of June 30, 2024 and $232,981 thousand and $33,166 thousand, respectively, as of December 31, 2023.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.