$WKHS
Workhorse Group Inc. Stock $wkhs

$wkhs Overview Financials Valuation SEC Filings Company Website

2021 Q1 Form 10-Q Financial Statement

#000162828021009595 Filed on May 10, 2021

Income Statement

Concept	2021 Q1	2020 Q1
Revenue	$521.1K	$84.30K
YoY Change	518.1%	-76.85%
Cost Of Revenue	$6.225M	$1.748M
YoY Change	256.14%	25.07%
Gross Profit	-$5.704M	-$1.664M
YoY Change	242.87%	60.99%
Gross Profit Margin	-1094.74%	-1973.52%
Selling, General & Admin	$6.886M	$5.566M
YoY Change	23.72%	166.19%
% of Gross Profit
Research & Development	$3.864M	$1.902M
YoY Change	103.11%	39.64%
% of Gross Profit
Depreciation & Amortization	$311.1K	$171.8K
YoY Change	81.15%	77.65%
% of Gross Profit
Operating Expenses	$10.75M	$7.468M
YoY Change	43.94%	116.27%
Operating Profit	-$16.45M	-$8.267M
YoY Change	99.03%	84.26%
Interest Expense	$13.50M	$13.02M
YoY Change	3.69%	632.46%
% of Operating Profit
Other Income/Expense, Net	-$136.6M	$860.0K
YoY Change	-15983.72%
Pretax Income	-$138.1M	$4.757M
YoY Change	-3004.1%	-175.93%
Income Tax	-$17.63M	$0.00
% Of Pretax Income		0.0%
Net Earnings	-$120.5M	$4.757M
YoY Change	-2633.42%	-175.93%
Net Earnings / Revenue	-23127.24%	5642.58%
Basic Earnings Per Share	-$0.98	$0.07
Diluted Earnings Per Share	-$1.04	$0.06
COMMON SHARES
Basic Shares Outstanding	122.6M shares	68.47M shares
Diluted Shares Outstanding	128.3M shares	83.77M shares

Balance Sheet

Concept	2021 Q1	2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$399.0M	$16.80M
YoY Change	2275.0%	500.0%
Cash & Equivalents	$205.1M	$16.82M
Short-Term Investments	$194.0M
Other Short-Term Assets	$36.60M	$4.800M
YoY Change	662.5%	140.0%
Inventory	$30.67M	$2.631M
Prepaid Expenses
Receivables	$1.142M	$48.83K
Other Receivables	$0.00	$100.0K
Total Short-Term Assets	$467.4M	$24.29M
YoY Change	1823.95%	211.47%
LONG-TERM ASSETS
Property, Plant & Equipment	$12.35M	$6.769M
YoY Change	82.49%	32.72%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$0.00	$13.10M
YoY Change	-100.0%
Other Assets
YoY Change
Total Long-Term Assets	$12.35M	$19.95M
YoY Change	-38.09%	276.45%
TOTAL ASSETS
Total Short-Term Assets	$467.4M	$24.29M
Total Long-Term Assets	$12.35M	$19.95M
Total Assets	$479.8M	$44.25M
YoY Change	984.3%	237.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$6.373M	$3.062M
YoY Change	108.16%	-14.95%
Accrued Expenses	$5.922M	$3.388M
YoY Change	74.81%	-13.13%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change		-100.0%
Long-Term Debt Due	$0.00	$20.16M
YoY Change	-100.0%
Total Short-Term Liabilities	$17.55M	$39.29M
YoY Change	-55.33%	73.09%
LONG-TERM LIABILITIES
Long-Term Debt	$182.2M	$7.430M
YoY Change	2352.22%	-11.55%
Other Long-Term Liabilities	$207.0K
YoY Change
Total Long-Term Liabilities	$207.0K	$7.430M
YoY Change	-97.21%	-11.55%
TOTAL LIABILITIES
Total Short-Term Liabilities	$17.55M	$39.29M
Total Long-Term Liabilities	$207.0K	$7.430M
Total Liabilities	$204.2M	$46.72M
YoY Change	336.96%	50.23%
SHAREHOLDERS EQUITY
Retained Earnings	-$229.5M	-$174.0M
YoY Change	31.88%
Common Stock	$123.3K	$69.49K
YoY Change	77.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$275.6M	-$22.00M
YoY Change
Total Liabilities & Shareholders Equity	$479.8M	$44.25M
YoY Change	984.3%	237.76%

Cashflow Statement

Concept	2021 Q1	2020 Q1
OPERATING ACTIVITIES
Net Income	-$120.5M	$4.757M
YoY Change	-2633.42%	-175.93%
Depreciation, Depletion And Amortization	$311.1K	$171.8K
YoY Change	81.15%	77.65%
Cash From Operating Activities	-$34.90M	-$7.823M
YoY Change	346.18%	35.61%
INVESTING ACTIVITIES
Capital Expenditures	$1.265M	$464.0K
YoY Change	172.59%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities	-$1.265M	-$464.0K
YoY Change	172.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	$14.22K	$243.0K
YoY Change	-94.15%	-96.58%
NET CHANGE
Cash From Operating Activities	-$34.90M	-$7.823M
Cash From Investing Activities	-$1.265M	-$464.0K
Cash From Financing Activities	$14.22K	$243.0K
Net Change In Cash	-$36.15M	-$8.044M
YoY Change	349.47%	-702.45%
FREE CASH FLOW
Cash From Operating Activities	-$34.90M	-$7.823M
Capital Expenditures	$1.265M	$464.0K
Free Cash Flow	-$36.17M	-$8.287M
YoY Change	336.46%	43.65%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2021Q1	dei	Entity Central Index Key EntityCentralIndexKey	0001425287
CY2021Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2021
CY2021Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2021Q1	dei	Amendment Flag AmendmentFlag	false
CY2021Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2021Q1	dei	Entity Address State Or Province EntityAddressStateOrProvince	OH
CY2021Q1	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	45140
CY2021Q1	dei	Document Type DocumentType	10-Q
CY2021Q1	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2021Q1	dei	Document Period End Date DocumentPeriodEndDate	2021-03-31
CY2021Q1	dei	Document Transition Report DocumentTransitionReport	false
CY2021Q1	dei	Entity File Number EntityFileNumber	001-37673
CY2021Q1	dei	Entity Registrant Name EntityRegistrantName	WORKHORSE GROUP INC.
CY2021Q1	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	NV
CY2021Q1	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	26-1394771
CY2021Q1	dei	Entity Address Address Line1 EntityAddressAddressLine1	100 Commerce Drive
CY2021Q1	dei	Entity Address City Or Town EntityAddressCityOrTown	Loveland
CY2021Q1	dei	City Area Code CityAreaCode	513
CY2021Q1	dei	Local Phone Number LocalPhoneNumber	360-4704
CY2021Q1	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2021Q1	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2021Q1	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
CY2021Q1	dei	Entity Small Business EntitySmallBusiness	false
CY2021Q1	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
CY2021Q1	dei	Entity Shell Company EntityShellCompany	false
CY2021Q1	dei	Security12b Title Security12bTitle	Common Stock, $0.001 par value per share
CY2021Q1	dei	Trading Symbol TradingSymbol	WKHS
CY2021Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	123260319	shares
CY2021Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	205074876	USD
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CY2021Q1	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	0	USD
CY2020Q4	us-gaap	Restricted Cash And Cash Equivalents RestrictedCashAndCashEquivalents	194411242	USD
CY2021Q1	us-gaap	Equity Securities Fv Ni EquitySecuritiesFvNi	193950792	USD
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CY2021Q1	wkhs	Warranty Liability WarrantyLiability	5255043	USD
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CY2020Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-463985	USD
CY2021Q1	wkhs	Exercise Of Warrants And Options And Restricted Share Award Activity ExerciseOfWarrantsAndOptionsAndRestrictedShareAwardActivity	14220	USD
CY2020Q1	wkhs	Exercise Of Warrants And Options And Restricted Share Award Activity ExerciseOfWarrantsAndOptionsAndRestrictedShareAwardActivity	243000	USD
CY2021Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	14220	USD
CY2020Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	243000	USD
CY2021Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-36154191	USD
CY2020Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-8043789	USD
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	241229067	USD
CY2019Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	24868416	USD
CY2021Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	205074876	USD
CY2020Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	16824627	USD
CY2021Q1	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Reclassifications</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain reclassifications were made to the prior year condensed consolidated financial statements to conform to the current year presentation. These reclassifications had no effect on previously reported results of operations or stockholders' equity.</span></div>
CY2021Q1	us-gaap	Inventory Raw Materials InventoryRawMaterials	28252565	USD
CY2020Q4	us-gaap	Inventory Raw Materials InventoryRawMaterials	16759232	USD
CY2021Q1	us-gaap	Inventory Work In Process InventoryWorkInProcess	4495320	USD
CY2020Q4	us-gaap	Inventory Work In Process InventoryWorkInProcess	422176	USD
CY2021Q1	us-gaap	Inventory Finished Goods InventoryFinishedGoods	277053	USD
CY2020Q4	us-gaap	Inventory Finished Goods InventoryFinishedGoods	277419	USD
CY2021Q1	us-gaap	Inventory Gross InventoryGross	33024938	USD
CY2020Q4	us-gaap	Inventory Gross InventoryGross	17458827	USD
CY2021Q1	us-gaap	Inventory Valuation Reserves InventoryValuationReserves	2353532	USD
CY2020Q4	us-gaap	Inventory Valuation Reserves InventoryValuationReserves	1991815	USD
CY2021Q1	us-gaap	Inventory Net InventoryNet	30671406	USD
CY2020Q4	us-gaap	Inventory Net InventoryNet	15467012	USD
CY2021Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	521060	USD
CY2020Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	84300	USD
CY2019Q2	us-gaap	Warrants And Rights Outstanding Term WarrantsAndRightsOutstandingTerm	P7Y
CY2020Q1	wkhs	Common Stock Issued For Payment Of Series B Preferred Stock Dividend CommonStockIssuedForPaymentOfSeriesBPreferredStockDividend	300000	shares
CY2020Q1	us-gaap	Accretion Amortization Of Discounts And Premiums Investments AccretionAmortizationOfDiscountsAndPremiumsInvestments	400000	USD
CY2021Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized	8000000.0	shares
CY2021Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant	6300000	shares
CY2020Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant	8000000.0	shares
CY2021Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	892428	USD
CY2020Q1	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	859027	USD
CY2020Q4	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1	P5Y6M
CY2021Q1	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1	P5Y9M18D
CY2021Q1	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	4200000	USD
CY2021Q1	us-gaap	Deferred Federal State And Local Tax Expense Benefit DeferredFederalStateAndLocalTaxExpenseBenefit	-17600000	USD
CY2021Q1	us-gaap	Net Income Loss NetIncomeLoss	-120506771	USD
CY2020Q1	us-gaap	Net Income Loss NetIncomeLoss	4756691	USD
CY2021Q1	us-gaap	Interest On Convertible Debt Net Of Tax InterestOnConvertibleDebtNetOfTax	2000000	USD
CY2020Q1	us-gaap	Interest On Convertible Debt Net Of Tax InterestOnConvertibleDebtNetOfTax	0	USD
CY2021Q1	us-gaap	Dilutive Securities Effect On Basic Earnings Per Share Other DilutiveSecuritiesEffectOnBasicEarningsPerShareOther	-15500000	USD
CY2020Q1	us-gaap	Dilutive Securities Effect On Basic Earnings Per Share Other DilutiveSecuritiesEffectOnBasicEarningsPerShareOther	0	USD
CY2021Q1	us-gaap	Net Income Loss Attributable To Parent Diluted NetIncomeLossAttributableToParentDiluted	-134006771	USD
CY2020Q1	us-gaap	Net Income Loss Attributable To Parent Diluted NetIncomeLossAttributableToParentDiluted	4756691	USD
CY2021Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	122633856	shares
CY2020Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	68465759	shares
CY2021Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	128301184	shares
CY2020Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	83768820	shares

Files In Submission

Name	View Source	Status
0001628280-21-009595-index-headers.html	Edgar Link	pending
0001628280-21-009595-index.html	Edgar Link	pending
0001628280-21-009595.txt	Edgar Link	pending
0001628280-21-009595-xbrl.zip	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
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R2.htm	Edgar Link	pending
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R40.htm	Edgar Link	pending
R5.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending
wkhs-20210331.htm	Edgar Link	pending
wkhs-20210331.xsd	Edgar Link	pending
wkhs-20210331xexx311.htm	Edgar Link	pending
wkhs-20210331xexx312.htm	Edgar Link	pending
wkhs-20210331xexx321.htm	Edgar Link	pending
wkhs-20210331xexx322.htm	Edgar Link	pending
wkhs-20210331_cal.xml	Edgar Link	unprocessable
wkhs-20210331_def.xml	Edgar Link	unprocessable
wkhs-20210331_htm.xml	Edgar Link	completed
wkhs-20210331_lab.xml	Edgar Link	unprocessable
wkhs-20210331_pre.xml	Edgar Link	unprocessable

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$WKHS
Workhorse Group Inc. Stock $wkhs

2021 Q1 Form 10-Q Financial Statement

#000162828021009595 Filed on May 10, 2021

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$WKHS Workhorse Group Inc. Stock $wkhs

2021 Q1 Form 10-Q Financial Statement

#000162828021009595 Filed on May 10, 2021

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$WKHS
Workhorse Group Inc. Stock $wkhs