$WKHS

AMP Holding Inc.

CIK:0001425287|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Sales, net of returns and allowances	$ 3,562	$ 750	$ 7,891	$ 1,896
Cost of sales	11,034	2,109	22,845	4,334
Gross loss	(7,472)	(1,359)	(14,954)	(2,438)
Operating expenses:
Selling, general and administrative	7,840	4,469	17,385	8,809
Research and development	4,108	3,197	8,177	6,857
Total operating expenses	11,948	7,666	25,562	15,666
Loss from operations	(19,420)	(9,025)	(40,516)	(18,104)
Interest expense, net	(800)	(3,819)	(1,154)	(7,395)
Change in fair value of convertible note	(132)	0	(277)	0
Change in fair value of stock rights	182	0	1,885	0
Other expense	(1)	(3)	(25)	(4)
Loss before benefit for income taxes	(20,171)	(12,847)	(40,087)	(25,503)
Benefit for income taxes	0	0	34	0
Net loss	$ (20,171)	$ (12,847)	$ (40,053)	$ (25,503)
Net loss per share of common stock - basic (in dollars per share)	$ (1.86)	$ (1.38)	$ (3.84)	$ (2.73)
Net loss per share of common stock - diluted (in dollars per share)	$ (1.86)	$ (1.38)	$ (3.84)	$ (2.73)
Weighted-average shares used in computing net loss per share of common stock - basic (in shares)	10,854	9,332	10,436	9,331
Weighted-average shares used in computing net loss per share of common stock - diluted (in shares)	10,854	9,332	10,436	9,331

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (40,053)	$ (25,503)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	3,649	395
Provision for allowance for credit losses	(70)	0
Provision for excess and obsolete inventory	(348)	0
Non-cash lease expense	1,498	431
Warranty provision	3,134	778
Stock-based compensation	0	212
Non-cash interest expense and change in fair value of convertible notes	486	0
Non-cash change in fair value of stock rights	(6,074)	0
Non-cash conversion of stock rights	4,189	0
Loss on disposal of assets	23	0
Effects of changes in operating assets and liabilities:
Accounts receivable	1,489	(1,750)
Inventory, net	1,238	(4,389)
Prepaid expenses and other current assets	(1,775)	44
Accounts payable	(2,317)	169
Accrued liabilities and other current liabilities	(5,231)	8,323
Operating lease liability	(429)	(424)
Net cash used in operating activities	(40,591)	(21,714)
Cash flows from investing activities:
Capital expenditures	(270)	(270)
Net cash used in investing activities	(270)	(270)
Cash flows from financing activities:
Proceeds from secured promissory note - related party	0	18,000
Net cash provided by financing activities	38,250	18,000
Change in cash and cash equivalents and restricted cash	(2,611)	(3,984)
Cash and cash equivalents and restricted cash, beginning of the period	12,920	6,629
Cash and cash equivalents and restricted cash, end of the period	10,309	2,645
Supplemental disclosure of cash flow information:
Cash paid for interest	722	0
Cash paid for taxes	0	0
Non-cash investing and financing activities:
ROU assets obtained for lease liabilities	0	653
Cash Flow Credit Agreement
Cash flows from financing activities:
Proceeds from Credit Agreement - related party	20,000	0
Customer Order Credit Agreement
Cash flows from financing activities:
Proceeds from Credit Agreement - related party	$ 18,250	$ 0

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 9,629,000	$ 12,240,000
Restricted cash	680,000	680,000
Accounts receivable, less allowance for credit losses of $168 and $435 as of June 30, 2026 and December 31, 2025, respectively	2,280,000	3,889,000
Inventory, net	38,175,000	39,065,000
Prepaid expenses and other current assets	5,724,000	3,948,000
Total current assets	56,488,000	59,822,000
Property, plant and equipment, net	19,547,000	22,470,000
Goodwill	3,226,000	3,130,000
Intangible assets, net	9,904,000	10,182,000
Operating lease right-of-use assets, net	20,373,000	21,872,000
Other assets	604,000	416,000
Total Assets	110,142,000	117,892,000
Current liabilities:
Accounts payable	13,928,000	16,301,000
Accrued liabilities and other current liabilities	7,027,000	8,063,000
Deferred revenue	1,003,000	1,615,000
Warranty liability - current portion	2,768,000	3,183,000
Operating lease liability - current portion	1,312,000	3,616,000
Stock rights liability	0	6,074,000
Total current liabilities	44,288,000	38,852,000
Operating lease liability - long-term	20,652,000	18,777,000
Warranty liability - long-term	2,109,000	1,792,000
Total Liabilities	102,964,000	74,850,000
Commitments and contingencies
Stockholders’ Equity:
Series A preferred stock, par value of $0.001 per share, 75,000,000 shares authorized, 0 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	0	0
Common stock, par value $0.001 per share, 36,000,000 shares authorized, 10,893,417 and 9,699,858 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	11,000	10,000
Additional paid-in capital	366,243,000	362,055,000
Accumulated deficit	(359,076,000)	(319,023,000)
Total stockholders’ equity	7,178,000	43,042,000
Total Liabilities and Stockholders’ Equity	110,142,000	117,892,000
Related Party
Current liabilities:
Customer order credit agreement - related party	18,250,000	0
Cash flow credit agreement - related party	30,000,000	10,000,000
Convertible notes at fair value - related party	$ 5,915,000	$ 5,429,000