Workhorse Group reported mixed Q3 2025 results, with sales totaling $2.4 million driven by increased recognition of deferred revenue, amid ongoing challenges in vehicle deliveries. The company is poised for a strategic merger with Motiv Electric Trucks, aiming to strengthen its position in the medium-duty electric vehicle market.

• Sales decreased slightly year-over-year, reflecting challenges in vehicle deliveries despite recognizing $2.2 million in deferred revenue.
• Operating expenses reduced by $1.2 million from the prior year, indicating effective cost management efforts.
• Proposed merger with Motiv Electric Trucks expected to close in Q4 2025, enhancing growth potential and market share.
• New product offerings, including the Utilimaster Aeromaster body on the W56 chassis, aim to increase customer interest and sales.
• Workhorse showcased high operational uptime of 97% for its W56 step vans, reinforcing its reliability in the commercial EV space.