Workhorse Group Inc (OQ:WKHS)

Business Focus: Auto & Truck Manufacturers

Sector:  Consumer Cyclicals Industry:  Auto & Truck Manufacturers
See Regulatory Filings on SEC
Company Contact
Address: 100 Commerce Dr
LOVELAND OH 45140-7726
Tel: N/A
IR: See website
Key People
Raymond Joseph Chess
Independent Chairman of the Board
Duane Hughes
President, Chief Executive Officer
Steve Schrader
Chief Financial Officer
Robert Harry Willison
Chief Operating Officer
Stephen M Fleming
Vice President, General Counsel
Gregory T. Ackerson
Business Overview
Workhorse Group, Inc. is a technology company. The Company is focused on providing solutions to commercial transportation sector. The Company designs and builds high performance electric vehicles and aircraft. As part of its solutions, it also develops cloud-based, real-time telematics performance monitoring systems. The Company is an Original Equipment Manufacturer (OEM) of Class 3-6 commercial-grade, medium-duty trucks. The Company sells its vehicles to fleet customers directly and through its primary distributor, Ryder System, Inc. (Ryder). Its product includes C-series electric delivery truck, and Package Delivery Aircraft such as HorseFly, Certus and USOG. Its C-series vehicles include C650 and C1000. HorseFly is an Unmanned Aerial System (UAS), which is custom-designed, purpose-built system that delivers packages. USOG is a logistics solutions company specializing in unmanned systems and secure transportation and delivery of drone flight missions by land, air or sea.
Financial Overview
For the three months ended 31 March 2020, Workhorse Group Inc revenues decreased 77% to $84K. Net income totaled $4.8M vs. loss of $6.3M. Revenues reflect Automotive segment decrease from $240K to $0K, Other segment decrease of 81% to $24K. Net Income reflects Interest Expense, net increase from $1.8M (expense) to $13M (income). Basic Earnings per Share excluding Extraordinary Items increased from -$0.11 to $0.07.
Employees: 81 as of Dec 31, 2019
Reporting Currency: U.S. Dollars
Enterprise value: $1,102M as of Mar 31, 2020
Annual revenue (TTM): $0.10M as of Mar 31, 2020
EBITDA (TTM): -$28.05M as of Mar 31, 2020
Net annual income (TTM): -$26.23M as of Mar 31, 2020
Free cash flow (TTM): -$41.40M as of Mar 31, 2020
Net Debt Last Fiscal Year: $30.29M as of Mar 31, 2020
Shares outstanding: 70,629,331 as of Apr 30, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization