Workhorse Group Reports First Quarter 2026 Revenue of $4.3 Million, Delivers 21 Vehicles
Workhorse Group reported Q1 2026 revenue of $4.3 million, a significant increase from $1.1 million a year ago, driven by delivery of 21 electric vehicles.
$4.3 million
21
$19.9 million
What Happened
Workhorse Group Inc. reported financial results for the first quarter ended March 31, 2026, its first full quarter after the December 2025 merger with Motiv Electric Trucks. Revenue reached $4.3 million, up from $1.1 million in Q1 2025, with 21 vehicles delivered compared to 5 a year earlier. The company posted a net loss of $19.9 million, or $1.99 per share, versus a loss of $12.7 million, or $1.36 per share, in the prior-year period.
Completed merger with Motiv Electric Trucks.
Delivered 21 vehicles, revenue $4.3M.
Announced 100-vehicle W56 order from Gateway Fleets.
Deliveries for Gateway Fleets order to begin.
$4.3 millionUSD
Up from $1.1 million in Q1 2025, reflecting higher vehicle deliveries.
- Facility consolidation to Union City, Indiana completed.
- Targeting $20 million annualized cost synergy run rate by end of 2026.
- Launched 140 kWh W56 battery configuration and promotional pricing on 210 kWh version.
- Entered partnership with InCharge Energy for scalable customer support.
Why this matters
The results show early progress from Workhorse's merger with Motiv Electric Trucks and growing demand for its electric step vans, positioning the company in the transitioning medium-duty truck market.
Terms in This Story
- Cost synergy
- Cost savings achieved by combining operations of merged companies, such as eliminating duplicate roles.
- Modular chassis
- A scalable vehicle frame designed to accommodate different configurations and technologies.
- First-call service operations
- A customer support model where the first point of contact can resolve most issues without escalation.
Summarised from the linked release; details can be imperfect — always verify against the original source.