WKHS — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-13

• The following discussion should be read in conjunction with the Condensed Consolidated Financial Statements and notes thereto included under Item 1 in this Quarterly Report on Form 10-Q (this “Report”) and our Consolidated Financial Statements and notes thereto and related Management’s Discussion an…

• The statements included herein that are not based solely on historical facts are “forward looking statements.” Such forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties. Our actual results could differ materially from those anticipa…

• Workhorse Group Inc. (“Workhorse,” or the “Company”) is a North American manufacturer of medium-duty electric trucks and buses. Our current commercial operations are primarily focused on providing sustainable and cost-effective solutions to the commercial transportation sector. We design and manufac…

• customers and dealers. We believe we are well positioned to take advantage of long-term opportunities and continue our efforts to bring product innovations to market. In July 2026, we announced that we are developing a containerized mobile AI data center product line intended to leverage our existin…

• The Merger was accounted for as a reverse merger, with Motiv being treated as the acquirer for accounting purposes. References to “Workhorse,” the “Company,” “we,” “us,” or “our,” when used in this Report incorporate the operations of Motiv unless otherwise indicated or the context requires otherwis…

Text removed vs the prior filing · source: 10-Q · 2026-05-14

• Workhorse Group Inc. (“Workhorse,” or the “Company”) is a North American manufacturer of medium-duty electric trucks and buses. Our primary focus is to provide sustainable and cost-effective solutions to the commercial transportation sector. We design and manufacture all-electric vehicles, including…

• customers and dealers. We believe we are well positioned to take advantage of long-term opportunities and continue our efforts to bring product innovations to market.

• Motiv is a leading manufacturer of medium duty, zero-emission electric trucks and buses. Motiv produces a range of vehicles, including step vans, shuttle buses, box trucks and work trucks, all of which eliminate tailpipe CO2 emissions and particulate matter, while offering drivers and passengers a c…

• The Merger was accounted for as a reverse merger, with Motiv being treated as the acquirer for accounting purposes. References to “Workhorse,” the “Company,” “we,” “us,” or “our,” when used in this Quarterly Report on Form 10-Q (this "Report") incorporate the operations of Motiv unless otherwise ind…

• The Customer Order Credit Agreement provided Workhorse with up to $40.0 million to fund vehicle manufacturing in connection with Qualified Purchase Orders (as defined in the Customer Order Credit Agreement). Under the Customer Order Credit Agreement, a Qualified Purchase Order includes purchase orde…

Text added vs the prior filing · source: 10-Q · 2026-08-13

• Management believes these actions, when fully implemented and operating effectively, will remediate the material weakness. However, the material weakness cannot be considered remediated until the applicable controls have operated for a sufficient period of time and management has concluded, through …

• Unless and until the material weakness is remediated, or if new material weaknesses arise in the future, material misstatements could occur and go undetected in our interim Condensed Consolidated Financial Statements or annual Consolidated Financial Statements, and we may be required to restate our …

Text removed vs the prior filing · source: 10-Q · 2026-05-14

• •Reallocating responsibilities among existing personnel to better align experience levels with control complexity.

• Management believes these actions, when fully implemented and operating effectively, will remediate the material weakness. However, the material weakness cannot be considered remediated until the applicable controls have operated for a sufficient period of time and management has concluded, through …

• Unless and until the material weakness is remediated, or if new material weaknesses arise in the future, material misstatements could occur and go undetected in our interim Condensed Consolidated Financial Statements or annual Consolidated Financial Statements, and we may be required to restate our …

Text added vs the prior filing · source: 10-Q · 2026-08-13

• Our expansion into the mobile AI data center market may not be successful and could adversely affect our business, financial condition, and results of operations.

• In July 2026, we announced our intention to develop a containerized mobile AI data center product line. While we believe this initiative leverages certain of our existing engineering, manufacturing, and supply chain capabilities, it represents an expansion into a new market with different competitiv…

• Our success will depend on our ability to design, manufacture, market, and support these products, establish customer demand, secure reliable sources of critical components, raise capital, and effectively compete against established participants in the data center infrastructure market. We may also …

• In addition, the mobile AI data center market is rapidly evolving and subject to changing technologies, customer preferences, regulatory requirements, and competitive pressures. If market adoption develops more slowly than anticipated, if customer demand does not materialize, if we encounter delays …

• Our expansion into this market may also divert management's attention and financial resources from our existing business, increase operational complexity, and expose us to risks that we have not previously encountered. If we are unsuccessful in developing or commercializing our mobile AI data center…