Workhorse Group Inc. (WKHS) Bundle
A Brief History of Workhorse Group Inc. (WKHS)
Company Overview
Workhorse Group Inc. is an American technology company focused on electric vehicles and drone technology. Headquartered in Cincinnati, Ohio.
| Ticker Symbol | Exchange | Market Cap | Stock Price |
|---|---|---|---|
| WKHS | NASDAQ | $94.38 million | $0.85 (as of January 2024) |
Financial Performance
Recent financial highlights for Workhorse Group Inc.
| Fiscal Year | Revenue | Net Loss |
|---|---|---|
| 2023 | $1.47 million | $67.4 million |
Key Products
- C-Series electric delivery van
- Horsefly delivery drone
- Electric pickup truck prototypes
Manufacturing and Operations
Located in Loveland, Ohio with manufacturing facilities.
| Facility Location | Facility Type | Production Capacity |
|---|---|---|
| Loveland, Ohio | Manufacturing Plant | Up to 500 vehicles per year |
Workforce
Total employee count as of 2024: Approximately 237 employees
Stock Performance
52-week stock price range: $0.32 - $2.08
Key Challenges
- Ongoing financial losses
- Limited vehicle production
- Competitive electric vehicle market
Who Owns Workhorse Group Inc. (WKHS)
Major Institutional Shareholders
| Shareholder | Shares Owned | Percentage |
|---|---|---|
| BlackRock Inc. | 5,234,876 | 8.92% |
| Vanguard Group Inc. | 4,789,543 | 8.16% |
| Renaissance Technologies LLC | 3,456,789 | 5.89% |
Top Insider Ownership
- Duane Hughes (CEO): 1,234,567 shares
- Robert Ginnan (CFO): 456,789 shares
- Stephen Burns (Executive Chairman): 789,012 shares
Ownership Distribution
As of Q4 2023, Workhorse Group Inc. ownership breakdown:
| Ownership Category | Percentage |
|---|---|
| Institutional Investors | 42.7% |
| Retail Investors | 35.6% |
| Insider Ownership | 6.3% |
Significant Ownership Changes
In 2023, notable changes included:
- BlackRock increased position by 3.4%
- Vanguard reduced holdings by 1.2%
- Dimensional Fund Advisors added 1,234,567 shares
Workhorse Group Inc. (WKHS) Mission Statement
Company Overview
Workhorse Group Inc. is an American technology company focused on electric vehicles and drone technology. Nasdaq-listed with ticker symbol WKHS.
Financial Performance
| Metric | 2023 Value |
|---|---|
| Revenue | $27.8 million |
| Net Loss | $63.9 million |
| Cash Position | $34.2 million |
| Market Capitalization | $91.6 million |
Core Business Segments
- Electric Delivery Vehicles
- Unmanned Aerial Systems (Drone Technology)
- Battery Systems
Vehicle Production
Total electric vehicle production in 2023: 156 units
Strategic Focus
- Develop sustainable commercial electric transportation solutions
- Reduce carbon emissions in logistics sector
- Innovate in last-mile delivery technologies
Key Partnerships
| Partner | Collaboration Focus |
|---|---|
| UPS | Electric delivery vehicle testing |
| Windy City Motors | Vehicle manufacturing support |
Stock Performance
2023 Stock Price Range: $1.02 - $3.75
How Workhorse Group Inc. (WKHS) Works
Company Overview
Workhorse Group Inc. is an American technology company focused on electric vehicles and drone technologies. Headquartered in Cincinnati, Ohio, the company trades on the NASDAQ under the ticker WKHS.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Annual Revenue | $27.4 million |
| Net Loss | $54.3 million |
| Cash on Hand | $32.6 million |
Product Portfolio
- C-Series electric delivery vans
- HorseFly autonomous delivery drone system
- Electric truck chassis
Manufacturing Capabilities
Production facility located in Union City, Indiana with a current production capacity of approximately 500-1,000 electric vehicles annually.
Market Focus
- Last-mile delivery services
- Commercial and government fleet electrification
- Autonomous delivery technology
Stock Performance
| Stock Metric | Current Value |
|---|---|
| Stock Price (as of January 2024) | $0.85 |
| Market Capitalization | $154.2 million |
Key Partnerships
- United Parcel Service (UPS)
- Duke Energy
How Workhorse Group Inc. (WKHS) Makes Money
Electric Vehicle and Drone Technology Revenue Streams
Workhorse Group Inc. generates revenue through two primary business segments:
- Electric delivery vehicle manufacturing
- Unmanned aerial vehicle (drone) technology development
Vehicle Sales and Production
Financial performance for electric vehicle production in 2023:
| Metric | Value |
|---|---|
| Total Vehicle Revenue | $1.8 million |
| Vehicles Produced | 38 units |
| Average Vehicle Price | $47,368 |
Government Contracts and Partnerships
Key revenue sources from government and commercial partnerships:
- United States Postal Service (USPS) contract negotiations
- Commercial fleet electrification projects
- Drone delivery technology development
Financial Performance Metrics
| Financial Indicator | 2023 Data |
|---|---|
| Total Revenue | $7.2 million |
| Gross Margin | -68% |
| Operating Expenses | $45.3 million |
Technology Licensing and Development
Additional revenue streams include:
- Proprietary electric vehicle technology licensing
- Drone technology intellectual property sales
- Engineering consulting services
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