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Workhorse Group (WKHS) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 13, 2026 · Workhorse Group (WKHS) Q2 2026 earnings results →
Q2 2026 Revenue up 375% year over year to $3.6M · 566¢ of every $1 of revenue lost · operating margin -545.2%
Workhorse Group made $3.6M in Q2 2026 (+375% Y/Y): Vehicles $3.4M, Services, parts and accessories $129K, Extended warranty revenue $35K. Operating margin -545.2%, net loss $20.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 13, 2026.
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What changed this quarter
Revenue was $3.6M in Q2 2026, up 375% year over year and down 18% from the previous quarter. Vehicles was the largest line at 95% of revenue. Vehicles added $2.7M year over year (up 419%), 98% of the total change.
Operating costs exceeded revenue by $19.4M, an operating margin of -545.2%. Total costs grew 135% against revenue growth of 375%. The fastest-growing cost line was Cost of revenue (+423%). The quarter ended with a net loss of $20.2M, wider than the previous quarter's $19.9M loss.
Operating cash flow was −$24.1M. Non-cash charges added back $1.6M of depreciation and amortization. Working capital and other items used $5.5M. Capital expenditures of $145K exceeded it, leaving free cash flow of −$24.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 13, 2026 | $3.6M | +375% | -545.2% | −$20.2M | −$24.1M |
| Q1 2026 | 10-Q | May 14, 2026 | $4.3M | +278% | -487.3% | −$19.9M | −$16.5M |
| Q4 2025 | 10-K | Mar 31, 2026 | $12.5M | +432% | -28.6% | −$20.8M | −$10.5M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $2.4M | -5% | -694.2% | −$7.8M | −$11.0M |
| Q2 2025 | 10-Q | Aug 15, 2025 | $5.7M | +573% | -255.3% | −$14.8M | −$5.9M |
| Q1 2025 | 10-Q | May 15, 2025 | $641K | -52% | n/m | −$20.6M | −$8.2M |
| Q4 2024 | 10-K | Mar 31, 2025 | $1.9M | -56% | -803.9% | −$21.2M | −$7.5M |
Charts
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About Workhorse Group
Workhorse Group Inc. (“Workhorse”, the “Company”, “we”, “us”, or “our”) is a North American manufacturer of medium-duty electric trucks and buses. Our primary focus is to provide sustainable and cost-effective solutions to the commercial transportation sector. We design and manufacture all-electric vehicles, including the technology that optimizes the way that these vehicles operate. The company’s best-in-class vehicles are designed for last-mile delivery, medium-duty operations, and a growing range of specialized applications. We are an American-based Original Equipment Manufacturer (“OEM”), and our products are marketed under the Workhorse® and Motiv® brands. Our vehicles are assembled in our Union City, IN production facility, or by contract manufacturers, using domestic and globally-sourced components.
In its own words, from its 10-K, filed Mar 31, 2026.
Workhorse Group against its Motor Vehicles & Passenger Car Bodies peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +375% against the peers' median +18%. Operating margin: -545.2% against the peers' median 2.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| WKHS Workhorse Group | Q2 2026 | $3.6M | +375% | -545.2% |
| GM General Motors | Q3 2026 | $50.0B | +3% | 7.2% |
| F Ford Motor | Q3 2026 | $49.5B | -2% | 2.9% |
| TSLA Tesla | Q3 2026 | $28.0B | -0.2% | 2.6% |
| PCAR Paccar | Q3 2026 | $7.9B | +19% | 13.6% |
| OSK Oshkosh | Q3 2026 | $2.8B | +6% | 6.9% |
| RIVN Rivian Automotive | Q3 2026 | $2.2B | +38% | -40.9% |
| FSS Federal Signal | Q3 2026 | $656M | +18% | 17.0% |
| LCID Lucid Group | Q2 2026 | $405M | +56% | -267.0% |
Source: Workhorse Group 10-Q on SEC EDGAR · CIK 1425287 · Motor Vehicles & Passenger Car Bodies
13F: who owns WKHS and who is buying
More on WKHS
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results