Filing Flows › Workhorse Group (WKHS) › Q3 2025
Workhorse Group (WKHS) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 10, 2025
Workhorse Group (WKHS) reported revenue of $2.4M for the third quarter 2025 (Q3 2025), -5% from a year earlier and -58% from the quarter before. Operating margin was -694.2%, net loss $7.8M (328.2% of revenue).
Workhorse Group, Q3 2025: revenue $2.4M (-5% year over year), operating margin -694.2%, net loss $7.8M, operating cash flow −$11.0M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.4M | -58% | -5% |
| Operating profit | −$16.6M | — | — |
| Net earnings | −$7.8M | — | — |
| Operating cash flow | −$11.0M | — | — |
What changed
Revenue was $2.4M in Q3 2025, down 5% year over year and down 58% from the previous quarter. Vehicles was the largest line at 87% of revenue. Vehicles lost $97K year over year (down 4%), 77% of the total change.
Operating costs exceeded revenue by $16.6M, an operating margin of -694.2%. Total costs grew 14% against a revenue fall of 5%. The fastest-growing cost line was Cost of revenue (+52%). The quarter ended with a net loss of $7.8M, narrower than the previous quarter's $14.8M loss. Non-operating items added $8.7M, -111% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$11.0M. Non-cash charges added back $1.8M of depreciation and amortization and $429K of share-based compensation. Working capital and other items used $5.4M.
Questions
What was Workhorse Group's revenue in the third quarter 2025?
Workhorse Group (WKHS) reported revenue of $2.4M for the third quarter 2025 (Q3 2025), -5% from a year earlier and -58% from the quarter before.
Was Workhorse Group profitable in the third quarter 2025?
Operating loss was $16.6M (-694.2% of revenue) and net loss $7.8M.
Source: Workhorse Group 10-Q on SEC EDGAR.