Workhorse Group Inc. — Form 8-K
Filed August 13, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 72/100
What the filing says
Workhorse reported Q2 2026 revenue of $3.6M (vs. $0.8M in Q2 2025 GAAP; $6.4M pro forma combined), delivered 26 vehicles, and posted a net loss of $20.2M ($1.86 per share). The company drew $20M under its Cash Flow Credit Agreement and $18.3M under its Customer Order Credit Agreement in H1 2026, bringing total outstanding debt to $30M and $18.25M respectively. In July 2026, Workhorse announced entry into the mobile AI data center market (targeting a $41B market by 2031) with production expected in 2027, and appointed Jody Davis as CFO. Cash position declined to $9.6M as of June 30, 2026.
Why this rating
Massive cash burn ($40.6M H1 2026 operating losses) against tiny $9.6M cash position; heavy new debt raises liquidity crisis risk. Relative to $11.6M market cap, company is near insolvency. AI pivot diversifies but adds execution risk.
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