Workhorse

OverviewSuggest Edit

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. 

TypePublic
Founded2007
HQLoveland, USMap
Websiteworkhorse.com
Employee Ratings3.9More
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Recent NewsAll News

Latest Updates

Employees (est.) (Dec 2018)98(-10%)
Revenue (FY, 2018)$763.2 K(-92%)
Share Price (Dec 2019)$2.9 (-1%)

Key People/Management at Workhorse

Duane Hughes

Duane Hughes

Chief Operating Officer and President
Julio Rodriguez

Julio Rodriguez

Chief Information Officer
Paul Gaitan

Paul Gaitan

CFO
Daniel Zito

Daniel Zito

EVP
Raymond Chess

Raymond Chess

Board Chairman
Gerald Budde

Gerald Budde

Board Member
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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, Union City, IN 47390, USA
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Workhorse Financials and Metrics

Workhorse Revenue

Workhorse's revenue was reported to be $763.17 k in FY, 2018
USD

Revenue (Q3, 2019)

4.3k

Gross profit (Q3, 2019)

(1.4m)

Gross profit margin (Q3, 2019), %

(33340.7%)

Net income (Q3, 2019)

(11.5m)

EBIT (Q3, 2019)

(5.6m)

Market capitalization (11-Dec-2019)

199.0m

Closing stock price (11-Dec-2019)

2.9

Cash (30-Sept-2019)

9.3m

EV

204.3m
Workhorse's current market capitalization is $199 m.
Annual
USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Revenue

190.0k272.1k177.5k177.5k140.0k6.4m10.8m763.2k

Revenue growth, %

(21%)4483%

Cost of goods sold

13.6m24.5m8.0m

Gross profit

(7.2m)(13.7m)(7.2m)
Quarterly
USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019

Revenue

107.5k222.1k177.5k177.5k68.0k72.0k236.0k1.2m1.9m1.8m270.0k3.3m560.2k170.7k11.0k364.2k5.5k4.3k

Cost of goods sold

464.4k2.3m4.2m4.3m995.9k7.6m1.7m1.7m1.5m1.4m930.2k1.4m

Gross profit

(228.4k)(1.1m)(2.3m)(2.5m)(725.9k)(4.3m)(1.2m)(1.5m)(1.5m)(1.0m)(924.7k)(1.4m)

Gross profit Margin, %

(97%)(86%)(119%)(143%)(269%)(130%)(206%)(870%)(13329%)(284%)(16788%)(33341%)
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Annual
USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

89.5k39.8k7.0k442.3k7.7m469.6k1.5m

Accounts Receivable

5.0k628.7k

Prepaid Expenses

51.2k13.0k44.0k74.6k3.1m2.3m

Inventories

122.0k41.0k392.8k392.8k78.9k2.5m2.5m
Quarterly
USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019

Cash

1.7m103.9k51.2k34.0k15.1k111.9k146.3k7.5k2.7m1.8m833.8k287.1k160.9k140.9k5.2m3.7m3.0m10.2m5.4m753.6k586.4k3.0m2.8m23.5m9.3m

Accounts Receivable

29.0k5.0k5.0k5.0k5.0k20.0k476.1k536.6k978.0k270.0k304.4k165.2k1.7k362.4k

Prepaid Expenses

15.6k72.4k39.3k39.3k13.0k41.0k57.8k93.9k48.2k48.2k71.0k81.5k109.5k1.1m972.5k698.3k144.2k1.5m767.1k215.8k181.1k536.4k2.0m1.7m6.4m

Inventories

82.0k122.0k122.0k122.0k82.0k441.0k441.0k393.8k392.8k392.8k392.8k331.0k272.6k199.0k1.9m3.6m5.1m9.5m5.0m5.0m4.9m2.5m2.2m2.4m
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Annual
USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Net Income

(8.7m)(4.3m)(6.1m)(6.6m)(9.4m)(19.6m)(41.2m)(36.5m)

Depreciation and Amortization

58.0k63.6k319.6k388.0k371.2k381.8k550.0k348.3k

Inventories

(122.0k)81.0k48.3k(2.5m)(2.2m)(399.8k)

Accounts Payable

915.9k399.5k293.2k460.8k907.3k2.4m3.1m2.4m
Quarterly
USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019

Net Income

(4.3m)(6.4m)(1.2m)(1.8m)(3.1m)(1.6m)(3.7m)(4.8m)(1.2m)(3.2m)(5.0m)(2.1m)(3.9m)(5.7m)(4.4m)(7.3m)(12.6m)(7.9m)(17.1m)(29.8m)(6.4m)(13.3m)(18.8m)(6.3m)(26.3m)(37.8m)

Depreciation and Amortization

27.9k42.6k16.2k32.9k48.5k15.2k116.7k218.2k101.5k203.0k294.6k93.8k187.8k281.8k93.5k190.0k286.3k143.1k269.0k415.2k48.4k152.5k251.9k96.7k193.8k291.3k

Inventories

82.0k(122.0k)40.0k47.3k(1.9m)(3.6m)(2.6m)(7.0m)(5.0m)(405.6k)(342.7k)(316.4k)

Accounts Payable

44.8k409.2k(76.9k)200.3k379.2k(114.5k)92.1k156.4k(299.5k)(142.9k)452.0k(121.9k)214.1k406.3k908.7k(3.3k)1.7m(1.3m)3.6m6.2m(70.0k)1.9m(1.1m)
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USDY, 2019

EV/EBIT

-36.4 x

EV/CFO

-8.5 x

Debt/Equity

-0.4 x

Debt/Assets

0.5 x

Financial Leverage

-0.7 x
Show all financial metrics

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 Online and Social Media Presence

Workhorse's Trends

Embed Graph

Workhorse News and Updates

June 10, 2019

Workhorse gets $25 million needed to finish electric delivery van

Workhorse Group, the electric vehicle company that grabbed headlines last month over a proposed deal to buy General Motor’s Lordstown, Ohio factory, has raised $25 million from a group of unnamed investors. The money will not go towards the factory. Instead, it will be used for the more pressing mat…
May 09, 2019

Thinking about buying stock in New Age Beverages, Overstock.com, Roku, Square, or Workhorse Group?

NEW YORK, May 9, 2019 /PRNewswire/ -- InvestorsObserver issues critical PriceWatch Alerts for NBEV, OSTK, ROKU, SQ, and WKHS. To see how InvestorsObserver's proprietary scoring system rates these stocks, view the InvestorsObserver's PriceWatch Alert by selecting the corresponding link....
May 09, 2019

Trump's tweet about Workhorse sent its stock soaring on news the electric-truck company is in talks to buy a GM assembly plant in Ohio (WKHS)

Workhorse, the electric-truck company negotiating a deal to buy an Ohio assembly plant from General Motors, got a sizable boost in its stock price on Wednesday after President Donald Trump sent a tweet about the deal. Shares of Workhorse Group Incorporated finished the day at $2.65, nearly 215% ab…
May 08, 2019

GM in talks to sell shuttered Lordstown factory to Workhorse for EV pickups

General Motors is in talks to sell its Lordstown vehicle factory in Ohio to Workhorse Group, a battery-electric transportation technology company, to produce EV pickup trucks. It’s a development that could produce a positive outcome for Workhorse, GM and the laid-off workers at the Lordstown factory…
May 08, 2019

Trump tweet sends penny stock Workhorse surging by more than 90%, crashes website

Shares of Ohio-based automaker Workhorse jumped after a tweet from President Trump.
May 08, 2019

GM confirms talks to sell Lordstown plant to electric vehicle maker Workhorse

General Motors confirmed Wednesday that it is in discussions to sell its Lordstown, Ohio, plant to electric vehicle maker Workhorse and a newly-formed corporate entity, confirming an earlier pair of tweets by President Trump.The big picture: The Lordstown plant's planned closure by GM is a key 2020 …
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Workhorse Blogs

June 10, 2019

Workhorse Group Secures $25 Million Financing

New Capital Enables Workhorse to Finalize N-GEN R&D and Scale Production in 2019 CINCINNATI, June 10, 2019 /PRNewswire/ -- Workhorse Group Inc. (NASDAQ:WKHS) ("Workhorse" or "the Company"), an American technology company focused on providing sustainable and cost-effective electric-mobility solut…
June 03, 2019

At G.M., a ‘Sense of Optimism, Not Despair’

At G.M., a ‘Sense of Optimism, Not Despair’ The view from Detroit: “It is true that compact car sales have declined across the industry. But a lot of things are going right in this country and at G.M.” To the Editor: Your coverage of General Motors, the end of Chevrolet Cruze production and the poss…
April 15, 2019

Workhorse Partners With Prefix Corporation

Workhorse Partners With Prefix Corporation As NGEN Electric Delivery Van Nears Production Recently, Workhorse inked a deal with DHL for 60 of its electric NGEN delivery vans and agreed to work with Duke Energy on streamlining the charging infrastructure that commercial customers like DHL will requi…
April 12, 2019

Workhorse and Prefix Corporation Join Forces

Workhorse and Prefix Corporation Join Forces to Refine Workhorse's Electric Delivery Vehicle of the Future Experienced Teams From Both Organizations Have Formed a Strategic Partnership Focused on Finalizing the Workhorse N-GEN Production Process for Initial Delivery Beginning in the Third Quarter of…
April 04, 2019

Workhorse Group Forms Alliance with Duke Energy

Workhorse Group Forms Alliance with Duke Energy to Support Faster Adoption and Scaling of Fleet Electrification Alliance Focuses on Electric Vehicle (EV) Infrastructure, Depot-Centric Energy Management Services and Battery Management CINCINNATI, April 4, 2019 /PRNewswire/ -- Workhorse Group Inc. (NA…
March 11, 2019

Full Year 2018 Earnings Call

Workhorse Group Sets Fourth Quarter and Full Year 2018 Earnings Call for Monday, March 18, 2019 at 10:00 a.m. ET CINCINNATI, March 11, 2019 /PRNewswire/ -- Workhorse Group Inc. (NASDAQ: WKHS) ("Workhorse" or "the Company"), an American technology company focused on providing sustainable and cost-ef…
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 Workhorse Frequently Asked Questions

  • When was Workhorse founded?

    Workhorse was founded in 2007.

  • Who are Workhorse key executives?

    Workhorse's key executives are Duane Hughes, Julio Rodriguez and Paul Gaitan.

  • How many employees does Workhorse have?

    Workhorse has 98 employees.

  • What is Workhorse revenue?

    Latest Workhorse annual revenue is $763.2 k.

  • What is Workhorse revenue per employee?

    Latest Workhorse revenue per employee is $7.8 k.

  • Who are Workhorse competitors?

    Competitors of Workhorse include Venturi Automobiles, Auro Robotics and Kreisel Electric.

  • Where is Workhorse headquarters?

    Workhorse headquarters is located at 100 Commerce Dr, Loveland.

  • Where are Workhorse offices?

    Workhorse has offices in Loveland and Union City.

  • How many offices does Workhorse have?

    Workhorse has 2 offices.