LiveWire Group, Inc.
For the period ended Dec 31, 2025. Filed Feb 20, 2026.
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FY2025 · Filed Feb 20, 2026
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7. Additional Balance Sheet Information
- Additional Balance Sheet Information
Inventories, net consisted of the following (in thousands):
| 2025 | 2024 | |
|---|---|---|
| Raw materials and work in process | $49 | $— |
| Electric motorcycles, electric balance bikes, and electric bikes | 14,167 | 24,862 |
| Parts and accessories and apparel | 1,039 | 2,080 |
| Inventories, net | $15,255 | $26,942 |
Inventory valuation reserves deducted from cost were $4,394 thousand and $4,661 thousand as of December 31, 2025 and 2024, respectively.
Other current assets primarily include prepaid expenses of $2,097 thousand and $2,422 thousand as of December 31, 2025 and 2024, respectively.
Property, plant and equipment, net consisted of the following as of December 31, (in thousands):
| 2025 | 2024 | |
|---|---|---|
| Construction in progress | $3,824 | $3,201 |
| Tooling | 24,362 | 27,438 |
| Machinery and equipment | 7,030 | 7,280 |
| Software | 21,844 | 18,632 |
| Leasehold improvements | 2,539 | 2,533 |
| $59,599 | $59,084 | |
| Accumulated depreciation and amortization | (32,043) | (25,072) |
| Property, plant and equipment, net | $27,556 | $34,012 |
Depreciation and amortization expense for property, plant and equipment was $8,882 thousand, $8,794 thousand and $4,531 thousand for the years ending December 31, 2025, 2024 and 2023, respectively. Software, net of accumulated amortization, included in Property, plant and equipment, net, was $11,258 thousand and $12,072 thousand as of December 31, 2025 and 2024, respectively. The Company had $604 thousand, $1,989 thousand, and $4,933 thousand related to purchases of property, plant and equipment included in Accrued liabilities as of December 31, 2025, 2024, and 2023, respectively.
Other long-term assets consisted primarily of capitalized implementation costs incurred in connection with cloud computing arrangements that do not include a license to internal-use software in accordance with Accounting Standards Update 2018-15.
Accrued liabilities consisted of the following as of December 31, (in thousands):
| 2025 | 2024 | |
|---|---|---|
| Payroll and employee benefits | $4,553 | $5,757 |
| Accrued restructuring | — | 675 |
| Engineering | 1,356 | 2,614 |
| Warranty and recalls | 1,449 | 673 |
| Deferred revenue | 662 | 174 |
| Sales incentives | 199 | 737 |
| Taxes | 692 | 863 |
| Accrued capital expenditures | 604 | 1,989 |
| Other (1) | 2,847 | 4,478 |
| Accrued liabilities | $12,362 | $17,960 |
(1) As of December 31, 2025 and 2024, included in “Other” is an accrual forzero and $1,802 thousand, respectively, for an unfavorable arbitration ruling related to a supplier claim discussed in Note 14.
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