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LiveWire Group (LVWR) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · LiveWire Group (LVWR) Q3 2026 earnings results →

Q3 2026 Revenue up 38% year over year to $7.9M · 237¢ of every $1 of revenue lost · operating margin -222.7%

LiveWire Group made $7.9M in Q3 2026 (+38% Y/Y): STACYC $5.2M, Electric Motorcycles $2.7M. Operating margin -222.7%, net loss $18.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.

Revenue$7.9M
Year over year+38%
Operating margin-222.7%
Net earnings−$18.6M
Operating cash flow−$11.9M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $7.9M in Q3 2026, up 38% year over year and down 14% from the previous quarter. STACYC was the largest line at 66% of revenue. Electric Motorcycles added $1.7M year over year (up 178%), 80% of the total change.

Operating costs exceeded revenue by $17.5M, an operating margin of -222.7%. Total costs grew 3% against revenue growth of 38%. The quarter ended with a net loss of $18.6M, wider than the previous quarter's $18.2M loss.

Operating cash flow was −$11.9M. Non-cash charges added back $2.7M of depreciation and amortization and $1.2M of share-based compensation. Working capital and other items added $2.8M. Capital expenditures of $1.0M exceeded it, leaving free cash flow of −$12.9M.

Quarterly history

LiveWire Group revenue by quarterLiveWire Group revenue by quarter$2.7MQ1 2025$5.9MQ2 2025$5.7MQ3 2025$11.4MQ4 2025$5.1MQ1 2026$9.1MQ2 2026$7.9MQ3 2026
LiveWire Group net earnings by quarterLiveWire Group net earnings by quarter−$19.3MQ1 2025−$18.8MQ2 2025−$19.4MQ3 2025−$17.6MQ4 2025−$18.1MQ1 2026−$18.2MQ2 2026−$18.6MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 4, 2026$7.9M+38%-222.7%−$18.6M−$11.9M
Q2 202610-QAug 5, 2026$9.1M+55%-197.6%−$18.2M−$13.4M
Q1 202610-QMay 6, 2026$5.1M+86%-345.5%−$18.1M−$13.0M
Q4 202510-KFeb 20, 2026$11.4M+6%-156.2%−$17.6M−$7.9M
Q3 202510-QNov 10, 2025$5.7M+28%-330.0%−$19.4M−$13.3M
Q2 202510-QAug 6, 2025$5.9M-9%-311.0%−$18.8M−$14.9M
Q1 202510-QMay 6, 2025$2.7M-45%-753.4%−$19.3M−$17.5M

Charts

LiveWire Group: revenue growth, year over year and quarter over quarterLiveWire Group: revenue growth, year over year and quarter over quarterY/YQ/Q-45%Q1 2025-9%+114%Q2 2025+28%-3%Q3 2025+6%+99%Q4 2025+86%-55%Q1 2026+55%+78%Q2 2026+38%-14%Q3 2026
Latest (Q3 2026): Y/Y +38%, Q/Q -14%.
LiveWire Group: where the cash came from (+) and went (−), TTM to Q3 2026LiveWire Group: where the cash came from (+) and went (−), TTM to Q3 2026Other financing$74.0MOperating cash flow−$46.2MCash drawn (+) / kept (−)−$23.6MCapital spending−$3.6MBuybacks−$1.1MShares issued$1.0MOther investing−$375KExchange rates−$118K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
LiveWire Group: profit against cash, quarter by quarterLiveWire Group: profit against cash, quarter by quarterNet incomeOperating cash flow−$22.8M−$21.9MQ4 2024−$19.3M−$17.5MQ1 2025−$18.8M−$14.9MQ2 2025−$19.4M−$13.3MQ3 2025−$17.6M−$7.9MQ4 2025−$18.1M−$13.0MQ1 2026−$18.2M−$13.4MQ2 2026−$18.6M−$11.9MQ3 2026
Latest (Q3 2026): Net income −$18.6M, Operating cash flow −$11.9M.
LiveWire Group: diluted shares by fiscal yearLiveWire Group: diluted shares by fiscal year161MFY2020161MFY2021172MFY2022203MFY2023203MFY2024204MFY2025
+26.5% since FY2020: more shares outstanding (issuance, stock pay).
LiveWire Group in its industry: growth against margin (4 companies, SIC 3751)LiveWire Group in its industry: growth against margin (4 companies, SIC 3751)revenue growth, year over year →↑ operating marginmedian +1%median 3%HOGFOXFLEATLVWR (+38%, -100%)
Motorcycles, Bicycles & Parts; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

About LiveWire Group

LiveWire Group, Inc., a Delaware corporation, and its consolidated subsidiaries are referred to in this Form 10-K as “we,” “our,” “us,” the “Company,” or “LiveWire.” LiveWire is an industry-leading all-electric motorcycle brand with a focus on pioneering the growing two-wheel electric motorcycle space. LiveWire was a direct, wholly owned subsidiary of AEA-Bridges Impact Corp (“ABIC”), which was originally incorporated as a Cayman Islands exempted company on July 29, 2020, as a special purpose acquisition company (“SPAC”) with the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.

In its own words, from its 10-K, filed Feb 20, 2026.

LiveWire Group against its Motorcycles, Bicycles & Parts peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +38% against the peers' median +1%. Operating margin: -222.7% against the peers' median 3.4%.

CompanyQuarterRevenueY/YOp. margin
LVWR LiveWire GroupQ3 2026$7.9M+38%-222.7%
HOG Harley-DavidsonQ3 2026$1.1B-19%3.4%
FOXF Fox Factory HoldingQ3 2026$338M-10%-29.1%
LEAT LeattQ2 2026$16.4M+1%7.0%

Source: LiveWire Group 10-Q on SEC EDGAR · CIK 1898795 · Motorcycles, Bicycles & Parts

Guidance and outlook

LiveWire Group: what its forward-looking statements are about (10-Q filed 2026-11-04)LiveWire Group: what its forward-looking statements are about (10-Q filed 2026-11-04)Other5Financing2Deals1Margins1Products1Supply chain1
11 statements; tone +0.00 (−1 all cautious, +1 all confident); 2 hedged.
LiveWire Group: outlook statements against the filing beforeLiveWire Group: outlook statements against the filing beforeConfident2Cautious2

13F: who owns LVWR and who is buying

Largest holders of LVWR (13F)Largest holders of LVWR (13F)Vanguard Group$2.7MBlackRock$1.3MAlliancebernstein L.P.$755KState Street$536KGeode Capital Management, LLC$480KVanguard Capital Management LLC$300KCharles Schwab Investment Managem…$190KVanguard Fiduciary Trust$144KNorthern Trust$132KGSA Capital Partners LLP$114K
Funds' net buying of LVWR by quarter (13F)Funds' net buying of LVWR by quarter (13F)$246K2024-09$52K2024-12$9K2025-03$10.6M2025-06$4.6M2025-09$605K2025-12−$2.3M2026-03$245K2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on LVWR

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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