WKHS FINANCIAL STATEMENTS

Workhorse Group Inc — balance sheet, income statement and cash flow trends

WKHSWorkhorse Group Inc

🇺🇸 USA · NASDAQ · Consumer Cyclical · Auto Manufacturers

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue24.9 M $+320.7%

Gross Profit-12.5 M $—

Operating Income-55.7 M $—

EBITDA-45.2 M $—

Net Income-63.3 M $—

Peer Comparison· Auto Manufacturers

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
WKHS	320.7%	-50.3%	-181.6%	-254.3%
ETILR	5.5%	13.5%	12.7%	-1.0%
BAYRK	-18.7%	9.0%	-20.8%	-65.4%
HATEK	-3.3%	12.9%	11.5%	-8.9%
FLAP	-20.2%	26.3%	6.9%	-10.1%
BNTAS	2.3%	17.2%	24.7%	17.9%
Industry median	7.1%	9.2%	4.7%	1.3%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity26.2 M $25%
Current Liabilities38.3 M $37%
Long-term Liabilities38.2 M $37%

Key Figures

YoY change

Total Assets102.7 M $-11.0%

Total Liabilities76.5 M $-9.0%

Total Equity26.2 M $-16.6%

Cash & ST Investments600 K $-77.3%

Total Debt27.9 M $-45.0%

Net Debt27.3 M $-43.2%

Peer Comparison· Auto Manufacturers

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
WKHS	1.23	106.5%	-0.60	25.5%
ETILR	1.24	109.7%	1.68	35.4%
BAYRK	0.77	87.7%	-3.48	35.9%
HATEK	1.06	83.1%	11.87	45.6%
FLAP	1.53	0.0%	-0.94	85.7%
BNTAS	6.04	2.9%	-1.70	88.9%
Industry median	1.23	133.5%	2.72	27.4%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow-43.9 M $—

Capital Expenditures763.7 K $-27.7%

Free Cash Flow-44.6 M $—

Dividends Paid——

Peer Comparison· Auto Manufacturers

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
WKHS	-176.4%	-179.3%	3.1%	69.3%
ETILR	-2.3%	-7.6%	2.1%	236.1%
BAYRK	-21.3%	-41.6%	13.8%	32.6%
HATEK	24.1%	12.3%	6.5%	-271.0%
FLAP	30.0%	5.4%	24.6%	-297.3%
BNTAS	5.5%	3.5%	1.9%	30.8%
Industry median	4.0%	-3.2%	6.1%	82.3%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 6, 26. This content is for informational purposes only and is not investment advice.