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Workhorse (WKHS)

Workhorse is a technology company focused on providing drone-integrated electric vehicles to the last-mile delivery sector. As an American original equipment manufacturer, it designs and builds high performance, battery-electric vehicles including trucks and aircraft. Workhorse also develops cloud-based, real-time telematics performance monitoring systems that are fully integrated with its vehicles and enable fleet operators to optimize energy and route efficiency. All Workhorse vehicles are designed to make the movement of people and goods more efficient and less harmful to the environment.

Company profile

Ticker
WKHS, 0A3U
Exchange
Website
CEO
Duane Hughes
Employees
Incorporated
Location
Fiscal year end
Former names
AMP Holding Inc., Title Starts Online, Inc.
SEC CIK
Subsidiaries
Workhorse Technologies Inc. • Workhorse Motor Works Inc. • Workhorse Properties Inc. ...
IRS number
261394771

WKHS stock data

Analyst ratings and price targets

Last 3 months

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

9 Aug 22
28 Sep 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 140.06M 140.06M 140.06M 140.06M 140.06M 140.06M
Cash burn (monthly) 9M 1.38M 7.05M 23.61M 8.24M 8.9M
Cash used (since last report) 26.6M 4.08M 20.86M 69.83M 24.37M 26.31M
Cash remaining 113.46M 135.98M 119.2M 70.23M 115.7M 113.75M
Runway (months of cash) 12.6 98.6 16.9 3.0 14.0 12.8

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
27 Jun 22 James D. Harrington Common Stock, $0.001 par value per share Payment of exercise Dispose F No No 2.92 1,770 5.17K 259,569
27 Jun 22 Ackerson Gregory T. Common Stock, $0.001 par value per share Payment of exercise Dispose F No No 2.92 427 1.25K 176,436
3 May 22 Austin Scott Miller Common Stock, $0.001 par value per share Grant Acquire A No No 3.19 23,810 75.95K 23,810
22 Apr 22 Ryan Wesley Gaul Common Stock, $0.001 par value per share Payment of exercise Dispose F No No 3.22 1,703 5.48K 148,210
26.7% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 208 219 -5.0%
Opened positions 27 33 -18.2%
Closed positions 38 49 -22.4%
Increased positions 52 70 -25.7%
Reduced positions 60 48 +25.0%
13F shares Current Prev Q Change
Total value 245.82M 395.75M -37.9%
Total shares 56.98M 55.28M +3.1%
Total puts 1.44M 2.3M -37.4%
Total calls 1.73M 3.65M -52.6%
Total put/call ratio 0.8 0.6 +32.0%
Largest owners Shares Value Change
BLK Blackrock 10.08M $26.2M -0.6%
Vanguard 8.02M $20.85M +14.8%
STT State Street 6.83M $17.76M +89.1%
IVZ Invesco 4.83M $12.57M +16.1%
Baksa Stephen D 4M $67.44M 0.0%
Geode Capital Management 2.57M $6.69M -8.0%
Lukens Joseph Theodore JR 1.87M $44.18M 0.0%
NTRS Northern Trust 1.45M $3.77M +0.2%
Susquehanna International 1.21M $3.15M -37.1%
First Trust Advisors 1.17M $3.04M -1.9%
Largest transactions Shares Bought/sold Change
STT State Street 6.83M +3.22M +89.1%
D. E. Shaw & Co. 672.4K -1.19M -63.8%
Vanguard 8.02M +1.03M +14.8%
Millennium Management 28.18K -1M -97.3%
Alps Advisors 989.87K +989.87K NEW
Susquehanna Fundamental Investments 0 -734.65K EXIT
Susquehanna International 1.21M -712.88K -37.1%
IVZ Invesco 4.83M +670.09K +16.1%
American Century Companies 472.87K +472.87K NEW
Rafferty Asset Management 0 -379.77K EXIT

Financial report summary

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Competition
OshkoshEnvirotech Vehicles
Management Discussion
  • Sales, net of returns and allowances for the three months ended June 30, 2022 and 2021 were $12,555 and $1,202,876, respectively. Sales, net of returns and allowances for the six months ended June 30, 2022 and 2021 were $26,854 and $1,723,936, respectively. The decrease in net sales was primarily due to a decrease in volume of automotive vehicle sales.
  • Cost of sales for the three months ended June 30, 2022 and 2021 were $3.0 million and $14.8 million, respectively. The decrease in cost of sales was primarily due to a $6.7 million decrease in inventory write-downs and a $2.0 million decrease in cost due to a reduction in volume of automotive vehicle sales. Additionally, the decrease in cost of sales was due to a reduction in costs associated with the initial production of the C-Series vehicle platform.
  • Cost of sales for the six months ended June 30, 2022 and 2021 were $6.9 million and $21.0 million, respectively. The decrease in cost of sales was primarily due to a $6.5 million decrease in inventory write-downs and a $2.9 million decrease in cost due to a reduction in volume of automotive vehicle sales. Additionally, the decrease in cost of sales was due to a reduction in costs associated with the initial production of the C-Series vehicle platform.

Content analysis

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Positive
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Litigous
Readability
H.S. freshman Avg
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Removed: al, appointed, Brown, Caruso, claiming, Clair, derivatively, Everson, extended, Farrar, individually, John, Kinney, Kistenmacher, ordered, outbreak, promulgated, reconciliation, resource, Romario, Sam, similarly, situated, stockholder, substantively, thereunder, vigorously