Workhorse is a full service design studio in Washington D.C. specializing in high-quality strategy, design & development. The Company designs, develops, manufactures and sells medium-duty trucks with powertrain components under the Workhorse chassis brand. 

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

Workhorse has offices in Loveland and Union City
Loveland, US (HQ)
100 Commerce Dr
Union City, US
940 IN-32
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Workhorse Financials and Metrics

Workhorse Financials

Workhorse's revenue was reported to be $10.85 m in FY, 2017
USD

Revenue (FY, 2017)

10.8 m

Gross profit (FY, 2017)

(13.7 m)

Gross profit margin (FY, 2017), %

(126%)

Net income (FY, 2017)

(42.2 m)

Market capitalization (16-Feb-2018)

4 m

Cash (31-Dec-2017)

4.1 m

EV

2 m
Workhorse's current market capitalization is $4 m.
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

177.5 k177.5 k140 k6.4 m10.8 m

Revenue growth, %

(21%)4483%

Cost of goods sold

13.6 m24.5 m

Gross profit

(7.2 m)(13.7 m)
Quarterly
USDQ3, 2013Q2, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Revenue

177.5 k177.5 k68 k72 k236 k1.2 m1.9 m1.8 m270 k3.3 m

Cost of goods sold

464.4 k2.3 m4.2 m4.3 m995.9 k7.6 m

Gross profit

(228.4 k)(1.1 m)(2.3 m)(2.5 m)(725.9 k)(4.3 m)

Gross profit Margin, %

(97%)(86%)(119%)(143%)(269%)(130%)
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

7 k442.3 k7.7 m469.6 k4.1 m

Accounts Receivable

628.7 k1 m

Inventories

392.8 k392.8 k78.9 k2.5 m4.2 m

PP&E

4.4 m4 m3.7 m6 m5.6 m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Cash

7.5 k2.7 m1.8 m833.8 k287.1 k160.9 k140.9 k5.2 m3.7 m3 m10.2 m5.4 m9.8 m

Accounts Receivable

20 k476.1 k536.6 k978 k270 k225 k

Inventories

393.8 k392.8 k392.8 k392.8 k331 k272.6 k199 k1.9 m3.6 m5.1 m9.5 m7.5 m

PP&E

4.5 m4.3 m4.2 m4.1 m4 m3.9 m3.8 m3.7 m3.6 m3.6 m5.9 m5.8 m
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

(9.4 m)(19.6 m)(42.2 m)

Depreciation and Amortization

319.6 k388 k371.2 k381.8 k550 k

Inventories

48.3 k(2.5 m)(1.8 m)

Accounts Payable

293.2 k460.8 k907.3 k2.4 m3.8 m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Net Income

(2.1 m)(4.4 m)(7.3 m)(12.6 m)(7.9 m)(17.1 m)(12.7 m)

Depreciation and Amortization

101.5 k101.5 k101.5 k91.6 k93.8 k187.8 k281.8 k93.5 k190 k286.3 k143.1 k269 k

Inventories

47.3 k(1.9 m)(3.6 m)(2.6 m)(7 m)7.5 m

Accounts Payable

64.3 k(299.5 k)156.6 k594.9 k(121.9 k)214.1 k406.3 k908.7 k(3.3 k)1.7 m(1.3 m)3.6 m10.1 m
USDY, 2017

Revenue/Employee

137.3 k
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Workhorse Operating Metrics

FY, 2015FY, 2016Q1, 2017Q2, 2017

Electric Delivery Vans in Backlog (for UPS)

143 343 170

Vans for UPS Delivered

125 200

E-GEN Electric Vehicles Delivered

2 35 42

W-15 Units Orders Recieved

2.15 k4.65 k5 k
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Workhorse News and Updates

WB Mason Receives Ryder-Managed Fleet Of Workhorse E-GEN Electric Vans

The US-based office products dealer W.B. Mason has now taken delivery of its Ryder-managed fleet of Workhorse E-GEN electric, range-extended step vans

They’re not sexy like Teslas, but electric delivery vans are coming to San Francisco

Workhorse Group, an Ohio-based equipment manufacturer, is delivering its first four N-Gen model all-electric vans to the Bay Area this week. The vehicles are part of a pilot program and could play a big role in keeping down smog and CO2 pollution. They also save money, according to Workhorse. “We be…

Workhorse Will Unveil Its N-Gen All Electric Van In San Francisco On March 28

The all-electric all-wheel-drive N-Gen van from Workhorse will be unveiled to the public for the first time on March 28 at the San Francisco city hall. It will be available to customers in the Bay Area starting in April.

Workhorse Fleet Of Electric Delivery Trucks For UPS Cost Competitive With Conventional Trucks Without Subsidies

UPS has added 50 Workhorse plug-in hybrid delivery vans to its US fleet. The trucks are 4 times more efficient that conventional diesel powered vans and cost no more, even without incentives.

Workhorse W-15 Orders Now Open To The Public

Workhorse has brought its W-15 plug-in hybrid pickup truck, N-Gen delivery van, and SureFly helicopter to CES 2018, where CEO Steve Burns announced that the company is now accepting reservations for the W-15 from private individuals.

Workhorse Gets Approved To Test Its SureFly Electric Hybrid Helicopter

There is something going on at Workhorse, and its latest press release hints at what the company is trying to do. After the announcement of its newest electric vehicle (EV) van, it is now announcing that the US Federal Aviation Administration (FAA) has given it a green light to fly its electric heli…
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