Workhorse Q2 Sales, Net Of Returns And Allowances, Were $800K, Net Loss $26.3M; As Of Jun. 30, Co. Had $5.3M In Cash And Cash Equivalents
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Workhorse Group reported Q2 sales of $800K, with a net loss of $26.3M. As of June 30, the company had $5.3M in cash and cash equivalents.
August 20, 2024 | 1:02 pm
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Workhorse Group reported Q2 sales of $800K and a net loss of $26.3M, with $5.3M in cash as of June 30. The financial results indicate challenges in revenue generation and cash management.
The reported sales of $800K are low, and the net loss of $26.3M suggests significant financial challenges. The cash position of $5.3M may not be sufficient to cover ongoing expenses, indicating potential liquidity issues. This could negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100