Workhorse Group reported Q1 revenue of $4.3 million, up from $1.1 million a year ago.
The electric truck maker delivered 21 vehicles in the quarter, compared to 5 in Q1 2025.
Net loss was $19.9 million ($1.99 per share), versus $12.7 million ($1.36 per share) last year.
Cash and equivalents fell to $0.6 million from $12.2 million at year-end. Market cap is $38.66 million.
Workhorse has a contracted backlog of over 200 vehicles, including orders from Gateway Fleets and Purolator.
The company launched a 140 kWh battery for the W56 step van and promotional pricing on the 210 kWh version.
Workhorse plans to test a new modular chassis design and its first Class 5/6 cab chassis in 2026, with production in early 2027.
