Filing Flows › Workhorse Group (WKHS) › Q4 2025
Workhorse Group (WKHS) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 31, 2026
Workhorse Group (WKHS) reported revenue of $12.5M for the fourth quarter 2025 (Q4 2025), +432% from a year earlier and +425% from the quarter before. Operating margin was -28.6%, net loss $20.8M (166.5% of revenue).
Workhorse Group, Q4 2025: revenue $12.5M (+432% year over year), operating margin -28.6%, net loss $20.8M, operating cash flow −$10.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $12.5M | +425% | +432% |
| Operating profit | −$3.6M | — | — |
| Net earnings | −$20.8M | — | — |
| Operating cash flow | −$10.5M | — | — |
What changed
Revenue was $12.5M in Q4 2025, up 432% year over year and up 425% from the previous quarter.
Gross margin was 80.4%. Operating costs exceeded revenue by $3.6M, an operating margin of -28.6%. The quarter ended with a net loss of $20.8M, wider than the previous quarter's $7.8M loss. Net interest and other expense of $17.3M was the main reason.
Operating cash flow was −$10.5M. Working capital and other items added $10.3M. Capital expenditures of $603K exceeded it, leaving free cash flow of −$11.1M.
Questions
What was Workhorse Group's revenue in the fourth quarter 2025?
Workhorse Group (WKHS) reported revenue of $12.5M for the fourth quarter 2025 (Q4 2025), +432% from a year earlier and +425% from the quarter before.
Was Workhorse Group profitable in the fourth quarter 2025?
Operating loss was $3.6M (-28.6% of revenue) and net loss $20.8M.
Source: Workhorse Group 10-K on SEC EDGAR.