Workhorse Group Inc (OQ:WKHS)

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
Gregory T. Ackerson
Interim Chief Financial Officer
Robert Harry Willison
Chief Operating Officer
Stephen M Fleming
Vice President, General Counsel
Business Overview
Workhorse Group, Inc., formerly AMP Holding Inc., is a development-stage company. The Company designs, develops, manufactures and sells medium-duty trucks with powertrain components under the Workhorse chassis brand. The Company's products include trucks comprising powertrain and chassis. Its powertrain products include E-GEN and E-100. Its chassis products include W88, W22, W42 and W62. E-GEN is an electric drive, transmission-free system, which has a gasoline/propane or compressed natural gas (CNG) engine that functions as an auxiliary generator. E-100, an all-electric, medium-duty truck, is an electric power-train. It focuses on offering W88 chassis with gross vehicle weight (GVW) ratings of 10,000 to 26,000 pounds. The W22 chassis is designed to meet the needs of the recreational vehicle market for weight ratings till over 26,000 GVW. The W42 chassis is designed for the 12,000 to 14,500 GVW vehicle market. The W62 chassis is designed for the 19,500 to 23,500 GVW vehicle market.
Financial Overview
For the nine months ended 30 September 2019, Workhorse Group Inc revenues decreased 50% to $374K. Net loss increased 94% to $37.9M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Higher net loss reflects Interest Expense, net increase from $1.8M to $23.6M (expense). Basic Earnings per Share excluding Extraordinary Items decreased from -$0.46 to -$0.62.
Employees: 98 as of Dec 31, 2018
Reporting Currency: U.S. Dollars
Enterprise value: $233.36M as of Sep 30, 2019
Annual revenue (TTM): $0.40M as of Sep 30, 2019
EBITDA (TTM): -$29.36M as of Sep 30, 2019
Net annual income (TTM): -$55.59M as of Sep 30, 2019
Free cash flow (TTM): -$32.46M as of Sep 30, 2019
Net Debt Last Fiscal Year: $25.41M as of Sep 30, 2019
Shares outstanding: 68,858,608 as of Nov 19, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization