Workhorse Group, Inc. (WKHS)

Workhorse Group Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	-64.43	-101.79	-123.92	-117.27	-401.34	69.78
Depreciation & Amortization	7.53	7.91	4.06	1.95	1.91	0.81
Stock-Based Compensation	3.42	10.06	13.42	11.46	4.94	4.02
Other Adjustments	10.82	29.25	26.66	21.56	315.33	-107.41
Change in Receivables	-0.42	2.3	-0.35	-16.93	0.98	-0.96
Changes in Inventories	4.75	-1.33	-39.29	-16.63	-69.61	-13.67
Changes in Accounts Payable	0.27	4.7	-2.23	33.68	11.83	5.5
Changes in Unearned Revenue	-0.8	1.64	-0.18	0.5	-	-
Changes in Other Operating Activities	1.25	-0.33	-1.2	-12.13	3.37	-28.34
Operating Cash Flow	-32.49	-47.59	-123.02	-93.82	-132.58	-70.28
Capital Expenditures	-0.04	-4.06	-18.69	-17.5	-5.31	-5.73
Sale of Property, Plant & Equipment	-	-	-	2.48	-	-
Purchases of Investments	-	-	-	-5	-	-
Proceeds from Sale of Investments	-	-	-	-	105.13	-
Investing Cash Flow	19.43	-4.06	-18.69	-20.02	99.81	-5.73
Long-Term Debt Issued	39.55	34.11	17.5	-	-	263.79
Long-Term Debt Repaid	-	-20	-	-	-	-
Net Long-Term Debt Issued (Repaid)	39.55	14.11	17.5	-	-	263.79
Issuance of Common Stock	3.59	7.17	61.66	12.32	-4.43	53.58
Net Common Stock Issued (Repurchased)	3.59	7.17	61.66	12.32	-4.43	53.58
Repurchase of Preferred Stock	-	-	-	-	-	-25
Net Preferred Stock Issued (Repurchased)	-	-	-	-	-	-25
Other Financing Activities	0.08	-0.83	-0.88	-0.86	-2.39	-
Financing Cash Flow	48.01	20.45	78.28	11.47	-6.82	292.37
Net Cash Flow	34.96	-31.2	-63.43	-102.37	-39.58	216.36
Free Cash Flow	-32.53	-51.65	-141.71	-111.32	-137.89	-76.01
FCF Margin	-306.26%	-780.71%	-1082.20%	-2216.08%	16185.91%	-5458.24%
Free Cash Flow Per Share	-47.61	-314.76	-2050.88	-2105.90	-3214.85	-2281.36
Levered Free Cash Flow	-11.91	-79.16	-163.94	-127.4	-459.15	292.13
Unlevered Free Cash Flow	-46.57	-65.52	-162.93	-139.21	-233.36	-72.64

Updated Sep 30, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q