15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $21M | -$64M | -45.0% | -223.7% | -$36M | $15M | $12M |
| 2024 | $7M | -$52M | -87.3% | -586.7% | -$43M | $68M | $7M |
| 2023 | $13M | -$124M | -192.9% | -804.1% | -$142M | — | $26M |
| 2022 | $5M | -$117M | -650.0% | -2569.8% | -$111M | — | $99M |
| 2021 | -$851922 | -$401M | 15652.1% | 21729.1% | -$138M | — | $202M |
| 2020 | $1M | $70M | -838.4% | -2943.0% | -$76M | — | $47M |
| 2019 | $376562 | -$37M | -1452.2% | -6338.1% | -$39M | $39M | $24M |
| 2018 | $763173 | -$37M | -1990.4% | -4463.9% | -$22M | $8M | $2M |
| 2017 | — | -$41M | — | — | -$39M | $7M | $4M |
| 2016 | — | -$20M | — | — | -$20M | $2M | $469570 |
| 2015 | — | -$9M | — | — | — | $3M | $8M |
| 2014 | — | -$7M | — | — | — | $3M | $442257 |
| 2014 | — | -$32M | — | — | — | $3M | $833834 |
| 2014 | — | -$31M | — | — | — | $3M | $2M |
| 2014 | — | -$29M | — | — | — | $2M | $3M |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $4M | -$20M | -172.8% | -487.3% | -$17M | $21M | $600000 |
| Dec '25 | $13M | -$21M | 80.4% | -28.6% | -$11M | $15M | $12M |
| Sep '25 | $2M | -$8M | -323.2% | -694.2% | -$11M | — | $13M |
| Jun '25 | $6M | -$15M | -130.2% | -255.3% | -$6M | — | $2M |
| Mar '25 | $1M | -$13M | -94.2% | -792.9% | -$13M | — | $3M |
| Dec '24 | $2M | $29M | 448.4% | 726.2% | $1M | $68M | $7M |
| Sep '24 | $3M | -$25M | -164.7% | -564.5% | -$10M | — | $3M |
| Jun '24 | $842440 | -$26M | -766.7% | -2435.6% | -$13M | — | $5M |
| Mar '24 | $1M | -$29M | -455.7% | -1771.6% | -$21M | — | $7M |
| Dec '23 | $4M | -$45M | -309.4% | -798.2% | -$30M | — | $26M |
| Sep '23 | $3M | -$31M | -116.5% | -695.3% | -$36M | — | $39M |
| Jun '23 | $4M | -$23M | -112.5% | -593.1% | -$38M | — | $62M |
| Mar '23 | $2M | -$25M | -214.6% | -1508.7% | -$38M | — | $79M |
| Dec '22 | $3M | -$39M | -515.3% | -1141.1% | -$36M | — | $99M |
| Sep '22 | $2M | -$35M | -514.4% | -3153.8% | -$15M | — | $120M |
| Jun '22 | $12555 | -$21M | -23955.8% | -167780.6% | -$27M | — | $140M |
| Mar '22 | $14299 | -$22M | -27337.9% | -138689.7% | -$34M | — | $167M |
| Dec '21 | -$2M | -$156M | 5097.9% | 6023.8% | -$24M | — | $202M |
| Sep '21 | -$576602 | -$81M | 2103.0% | 4423.6% | -$29M | — | $230M |
| Jun '21 | $1M | -$44M | -1130.1% | -1889.0% | -$48M | — | $157M |
How the market has priced WKHS against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Workhorse Group Inc.'s revenue has grown 72.4% per year. These are computed facts, not advice.
As of FY2025, Workhorse Group Inc. reported $15M of total debt against $12M of cash.
In FY2025, gross margin was -45.0%, operating margin -223.7%, and net margin -302.2%.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.