Filing Flows › Workhorse Group (WKHS) › Q1 2026
Workhorse Group (WKHS) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 14, 2026
Workhorse Group (WKHS) reported revenue of $4.3M for the first quarter 2026 (Q1 2026), +278% from a year earlier and -65% from the quarter before. Operating margin was -487.3%, net loss $19.9M (459.3% of revenue).
Workhorse Group, Q1 2026: revenue $4.3M (+278% year over year), operating margin -487.3%, net loss $19.9M, operating cash flow −$16.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.3M | -65% | +278% |
| Operating profit | −$21.1M | — | — |
| Net earnings | −$19.9M | — | — |
| Operating cash flow | −$16.5M | — | — |
What changed
Revenue was $4.3M in Q1 2026, up 278% year over year and down 65% from the previous quarter. Vehicles was the largest line at 99% of revenue. Vehicles added $3.2M year over year (up 290%), 100% of the total change.
Operating costs exceeded revenue by $21.1M, an operating margin of -487.3%. Total costs grew 149% against revenue growth of 278%. The fastest-growing cost line was Cost of revenue (+431%). The quarter ended with a net loss of $19.9M, narrower than the previous quarter's $20.8M loss.
Operating cash flow was −$16.5M. Non-cash charges added back $2.0M of depreciation and amortization. Working capital and other items added $1.4M. Capital expenditures of $125K exceeded it, leaving free cash flow of −$16.6M.
Questions
What was Workhorse Group's revenue in the first quarter 2026?
Workhorse Group (WKHS) reported revenue of $4.3M for the first quarter 2026 (Q1 2026), +278% from a year earlier and -65% from the quarter before.
Was Workhorse Group profitable in the first quarter 2026?
Operating loss was $21.1M (-487.3% of revenue) and net loss $19.9M.
Source: Workhorse Group 10-Q on SEC EDGAR.