Workhorse Group Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2020	FY 2019
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019
Cash & Equivalents	2.65	6.63	4.26	46.82	23.87
Cash & Short-Term Investments	2.65	6.63	4.26	46.82	23.87
Cash Growth	-37.87%	55.70%	-90.91%	96.15%	-
Receivables	5.34	3.59	5.11	1.04	0.04
Inventory	25.79	21.4	18.18	15.47	1.8
Prepaid Expenses	0.6	0.55	0.41	32.76	4.81
Restricted Cash	-	-	-	194.41	1
Other Current Assets	1.91	2	1.6	-	-
Total Current Assets	36.29	34.18	29.55	290.49	31.52
Property, Plant & Equipment	2.48	3.01	3.65	11.4	6.83
Long-Term Investments	-	-	-	330.56	12.19
Other Intangible Assets	0.05	0.08	0.14	-	-
Long-Term Accounts Receivable	-	-	-	0.09	0.13
Other Long-Term Assets	0.14	0.14	0.14	-	-
Total Assets	38.96	37.41	33.48	632.54	50.67
Accounts Payable	2.24	2.07	3.09	10.79	5.09
Accrued Expenses	2.99	3.02	4.36	-	-
Short-Term Debt	93.76	68.36	76.28	1.41	-
Current Portion of Long-Term Debt	-	-	-	-	19.62
Current Portion of Leases	0.55	0.89	0.62	-	-
Current Unearned Revenue	3.08	0.79	0.64	-	-
Other Current Liabilities	1.47	1.78	2.39	5.4	22.34
Total Current Liabilities	104.09	76.92	87.37	17.6	47.04
Long-Term Debt	-	-	-	197.7	38.54
Long-Term Leases	0	0.09	0.38	-	-
Long-Term Deferred Tax Liabilities	-	-	-	21.83	-
Other Long-Term Liabilities	0.98	1.22	1.36	0.21	-
Total Liabilities	105.07	78.23	89.12	237.34	85.59
Common Stock	0.01	0.01	0	395.2	-34.91
Additional Paid-In Capital	214.27	214.06	147.63	-	-
Retained Earnings	-280.44	-254.94	-203.35	-	-
Total Common Equity	-66.16	-40.86	-55.72	395.2	-34.91
Shareholders' Equity	-66.11	-40.82	-55.64	395.2	-34.91
Total Liabilities & Equity	38.96	37.41	33.48	632.54	50.67
Total Debt	94.31	69.34	77.28	199.11	58.16
Net Cash (Debt)	-91.67	-62.71	-73.03	-152.29	-34.29
Net Cash Per Share	-46.51	-31.85	-	-	-
Filing Date Shares Outstanding	9.33	3.84	0.83	-	-
Total Common Shares Outstanding	9.33	3.84	0.83	-	-
Working Capital	-67.8	-42.74	-57.82	272.9	-15.52
Book Value Per Share	-7.09	-10.63	-67.20	-	-
Tangible Book Value	-66.21	-40.95	-55.86	395.2	-34.91
Tangible Book Value Per Share	-7.10	-10.65	-67.37	-	-
Machinery	5.19	4.91	4.8	-	-
Construction In Progress	0.43	0.43	0.49	-	-
Leasehold Improvements	0.39	0.39	0.39	-	-
Order Backlog	-	19.4	-	-	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.