Workhorse

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.

Type
Public
HQ
Loveland, US
Founded
2007
Size (employees)
15 (est)
Workhorse was founded in 2007 and is headquartered in Loveland, US

Workhorse Office Locations

Workhorse has offices in Loveland and Union City
Loveland, US (HQ)
100 Commerce Dr
Union City, US
940 In 32

Workhorse Data and Metrics

Workhorse Financial Metrics

Workhorse's revenue was reported to be $1.8 m in Q1, 2017
USD

Revenue (Q1, 2017)

1.8 m

Gross profit (Q1, 2017)

(2.5 m)

Gross profit margin (Q1, 2017), %

(143%)

Net income (Q1, 2017)

(7.9 m)

Market capitalization (21-Jul-2017)

94.6 m

Cash (31-Mar-2017)

10.2 m
Workhorse's current market capitalization is $94.6 m.
USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

177.5 k177.5 k140 k6.4 m

Revenue growth, %

(21%)4483%

Cost of goods sold

13.6 m

Gross profit

(7.2 m)

Gross profit Margin, %

(112%)

R&D expense

6.1 m

General and administrative expense

6.2 m

Operating expense total

6.4 m8.6 m12.3 m

Interest expense

399 k965.9 k44 k

Net Income

(9.4 m)(19.6 m)
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Revenue

177.5 k68 k72 k236 k1.2 m1.9 m1.8 m

Cost of goods sold

464.4 k2.3 m4.2 m4.3 m

Gross profit

(228.4 k)(1.1 m)(2.3 m)(2.5 m)

Gross profit Margin, %

(97%)(86%)(119%)(143%)

R&D expense

899.7 k895.7 k847.1 k872.2 k1.7 m2.9 m258.2 k1 m3.2 m

General and administrative expense

1.2 m797.2 k1.1 m968.8 k1.8 m1.2 m1.6 m2 m2.1 m

Operating expense total

2.1 m1.7 m1.9 m1.8 m3.5 m4.1 m1.9 m3 m5.4 m

Interest expense

64.8 k95 k144 k108.2 k329.7 k39.7 k5672.8 k35.7 k

Net Income

(2.1 m)(4.4 m)(7.3 m)(12.6 m)(7.9 m)
USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

7 k442.3 k7.7 m469.6 k

Accounts Receivable

628.7 k

Inventories

392.8 k392.8 k78.9 k2.5 m

PP&E

4.4 m4 m3.7 m6 m

Total Assets

4.9 m5 m14.6 m10.2 m

Accounts Payable

1.5 m1.6 m1.6 m3.9 m

Total Debt

2.6 m3.8 m2.2 m

Additional Paid-in Capital

20.3 m27.1 m33.6 m60.3 m

Retained Earnings

(43.5 m)(63.1 m)

Debt to Assets Ratio

0.5 x0.8 x0.2 x
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Cash

1.8 m833.8 k287.1 k160.9 k140.9 k5.2 m3.7 m3 m10.2 m

Accounts Receivable

20 k476.1 k536.6 k978 k

Inventories

392.8 k392.8 k331 k272.6 k199 k1.9 m3.6 m5.1 m

PP&E

4.2 m4.1 m4 m3.9 m3.8 m3.7 m3.6 m3.6 m5.9 m

Total Assets

6.5 m5.4 m4.7 m4.4 m5.2 m9.9 m10.3 m10.9 m24 m

Accounts Payable

1.4 m1.4 m1.5 m1.8 m1.8 m2.4 m1.5 m3.2 m2.6 m

Additional Paid-in Capital

26.8 m27 m29.7 m30.1 m31.8 m47.1 m51.6 m55.6 m90.2 m

Retained Earnings

(36.1 m)(38 m)(47.9 m)(50.8 m)(56.1 m)(71 m)
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

(9.4 m)(19.6 m)

Depreciation and Amortization

319.6 k388 k371.2 k381.8 k

Accounts Receivable

(1 m)

Inventories

48.3 k(2.5 m)

Accounts Payable

293.2 k460.8 k907.3 k2.4 m

Capital Expenditures

(63)(23.1 k)(65.2 k)(528.1 k)

Cash From Investing Activities

(2.8 m)(23.1 k)(65.2 k)(528.1 k)

Long-term Borrowings

(5 k)(2.7 m)

Cash From Financing Activities

5.4 m4.9 m15.5 m12.4 m
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

(2.1 m)(4.4 m)(7.3 m)(12.6 m)(7.9 m)

Depreciation and Amortization

101.5 k91.6 k93.8 k187.8 k281.8 k93.5 k190 k286.3 k143.1 k

Accounts Receivable

(20 k)(476.1 k)(536.6 k)(349.3 k)

Inventories

(1.9 m)(3.6 m)(2.6 m)

Accounts Payable

156.6 k594.9 k(121.9 k)214.1 k406.3 k908.7 k(3.3 k)1.7 m(1.3 m)

Capital Expenditures

(26.2 k)(35.5 k)(32.5 k)(28.9 k)(90.7 k)(148.1 k)(35.9 k)

Cash From Investing Activities

(26.2 k)(35.5 k)(32.5 k)(28.9 k)(90.7 k)(148.1 k)74.8 k

Long-term Borrowings

(2.3 k)(4.2 k)(5 k)(2.7 m)(2.7 m)(4.8 k)

Cash From Financing Activities

437.7 k(9.1 k)1.4 m2.6 m3.9 m963 k5.3 m8.9 m22.7 m

Workhorse Market Value History

Workhorse Online and Social Media Presence

Workhorse News and Updates

Workhorse Company Life and Culture

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