Workhorse Q2 Loss Misses Estimates by 71% as Expenses Surge
WKHS sits 26% above its 52-week low of $2.31 on elevated volume (2.0× avg).
Summary
Workhorse reported a Q2 net loss of $1.86 per share, far worse than the $1.09 consensus, driven by higher operating expenses. Revenue rose year-over-year but fell short of pro forma combined prior-year levels. The company is pivoting to mobile AI data centers with initial production targeted for 2027, and expects to exit 2026 at a $20M annualized cost synergy run rate. This follows the 10-Q filed today showing a going concern warning, material weakness in internal controls, and only $9.6M in cash. The earnings miss and ongoing liquidity concerns are likely to pressure the stock further.
At the time of this announcement, WKHS was trading at $2.90 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $33.1M. The 52-week trading range was $2.31 to $26.40. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.