Workhorse Group, Inc. · NASDAQ:WKHS
Workhorse — Q3 2025 Earnings Presentation
12 slides from Workhorse's earnings presentation, Nov 11, 2025
Slide 1: Q3 2025 Earnings Call
Q3 2025 Earnings Call November 11, 2025
Slide 2: Today's Presenters
Today’s Presenters Rick Dauch Bob Ginnan Stan March CEO, Workhorse CFO, Workhorse VP, Corporate Development, Workhorse • 30+ years of automotive • 25+ years of senior finance • 29+ years of executive industry experience and leadership experience experience across multiple industrial sectors • 19 yea
Slide 3: Agenda
Agenda Introduction Business Update Q3 2025 Financials Near-Term Priorities Q&A
Slide 4: Disclaimer 1/2
Disclaimer 1/2 Cautionary Note Regarding Forward-Looking Statements This communication contains “forward-looking statements” within the meaning of Section 21E of the Exchange Act, and the Private Securities Litigation Reform Act of 1995, as amended. All statements other than statements of historical
Slide 5: Disclaimer 2/2
Disclaimer 2/2 Additional Information and Where to Find It Workhorse has filed with the U.S. Securities and Exchange Commission (the “SEC”) a definitive proxy statement on Schedule 14A (the “Definitive Proxy Statement”) and a proxy card with respect to its solicitation of proxies for Workhorse’s 202
Slide 6: Growing Fleet Momentum & Strategic Progress
Growing Fleet Momentum & Strategic Progress Momentum in Fleet Orders & Deployments Advancing Product Flexibility ▪ Completed the sale of 15 trucks in Q3 2025 ▪ Worked in Q3 to complete the integration, testing ▪ Real-world fleet performance and positive customer and validation of the Utilimaster Aer
Slide 7: Strategic Merger with Motiv to Create Leading North American Medium-Duty Commercial EV OEM
Strategic Merger with Motiv to Create Leading North American Medium-Duty Commercial EV OEM Simplified Capital Structure & Near-Term Liquidity Strategic Rationale ▪ Positioned to create long-term shareholder value by ▪ Robust lineup of Class 4 cab chassis and Class 5 and offering broader portfolio of
Slide 8: Financial Summary Highlights
Financial Summary Highlights Revenue Sales, net of returns and allowances for the three months ended September 30, Q3 2025 Unaudited Results Three Months Ended Nine Months Ended 2025, and 2024 were $2.4 million and $2.5 million, respectively. For the three months ended September 30, 2025, the decrea
Slide 9: Balance Sheet Highlights
September 30, December 31, Balance 2025 2024 Assets Current assets: Cash and cash equivalents $ 12,726,147 $ 4,119,938 Sheet Restricted cash 25,475,596 525,000 Accounts receivable, less allowance for credit losses of $0.2 million and $0.3 million as 1,151,976 537,536 of September 30, 2025 and Decemb
Slide 10: Near-Term Priorities
Near-Term Priorities Complete Transaction with Motiv ▪ Annual Meeting tomorrow, November 12 ▪ Close transaction and associated financing commitment in Q4 2025, subject to customary closing conditions and shareholder approval Continue to Expand Product Portfolio Strengthen Financial Position & Operat
Slide 11: Vote Today For All Proposals
VOTE TODAY FOR ALL PROPOSALS IN CONNECTION WITH WORKHORSE’S UPCOMING ANNUAL MEETING TOMORROW, NOVEMBER 12, 2025 HERE’S HOW TO VOTE FOR ALL OF THE PROPOSALS: ✓ Vote online before the meeting at www.proxyvote.com ✓ Attend the meeting virtually on November 12, 2025 ✓ Vote online during the meeting at w
Slide 12: Questions?
Questions? © Copyright 2025 Workhorse. Confidential & Proprietary | 12