LiveWire Group Inc
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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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.
Sep 30, 2024 · Filed Nov 6, 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 | Nine months ended | |||
|---|---|---|---|---|
| September 30,2024 | September 30,2023 | September 30,2024 | September 30,2023 | |
| Electric Motorcycles | ||||
| Revenue, net | $1,209 | $1,338 | $4,883 | $3,582 |
| Cost of goods sold | 3,701 | 2,917 | 15,928 | 11,449 |
| Selling, administrative and engineering expense | 22,523 | 24,162 | 69,773 | 74,541 |
| Operating loss | (25,015) | (25,741) | (80,818) | (82,408) |
| STACYC | ||||
| Revenue, net | 3,236 | 6,806 | 10,989 | 19,350 |
| Cost of goods sold | 2,264 | 4,135 | 7,373 | 12,067 |
| Selling, administrative and engineering expense | 2,482 | 2,273 | 7,910 | 7,109 |
| Operating income (loss) | (1,510) | 398 | (4,294) | 174 |
| Operating loss | $(26,525) | $(25,343) | $(85,112) | $(82,234) |
Total assets for the Electric Motorcycles and STACYC segments were $150,109 thousand and $28,189 thousand, respectively, as of September 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.