$LVWR

LiveWire Group, Inc.

CIK:0001898795|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues [Abstract]
Revenue, net	$ 9,115	$ 5,873	$ 14,230	$ 8,616
Costs and expenses:
Cost of goods sold (including related party amounts of $4,963 and $7,092 for the three and six months ended June 30, 2026, respectively, and $485 and $1,644 for the three and six months ended June 30, 2025, respectively; see Note 12)	9,161	5,324	14,813	10,235
Selling, administrative and engineering expense (including related party amounts of $1,154 and $2,307 for the three and six months ended June 30, 2026, respectively, and $1,331 and $2,735 for the three and six months ended June 30, 2025, respectively; see Note 12)	17,968	18,813	35,103	37,311
Total operating costs and expenses	27,129	24,137	49,916	47,546
Operating loss	(18,014)	(18,264)	(35,686)	(38,930)
Interest expense, related party	(1,454)	0	(2,871)	0
Interest income (expense), net	420	333	1,023	837
Change in fair value of warrant liabilities	911	(905)	1,294	0
Loss before income taxes	(18,137)	(18,836)	(36,240)	(38,093)
Income tax provision (benefit)	76	(10)	101	4
Net loss	(18,213)	(18,826)	(36,341)	(38,097)
Other comprehensive loss:
Foreign currency translation adjustments	(13)	(4)	(13)	(19)
Comprehensive loss	$ (18,226)	$ (18,830)	$ (36,354)	$ (38,116)
Net loss per share, basic (in dollars per share)	$ (0.09)	$ (0.09)	$ (0.18)	$ (0.19)
Net loss per share, diluted (in dollars per share)	$ (0.09)	$ (0.09)	$ (0.18)	$ (0.19)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (36,341)	$ (38,097)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	4,881	5,673
Change in fair value of warrant liabilities	(1,294)	0
Stock compensation expense	2,510	3,444
Provision for expected credit losses	38	25
Deferred income taxes	89	3
Inventory write-down	2,527	936
Interest expense, related party	2,871	0
Other, net	(144)	(557)
Changes in current assets and liabilities:
Accounts receivable, net	(1,498)	(314)
Accounts receivable from related party	379	392
Inventories	(849)	(1,437)
Other current assets	(1,026)	(520)
Accounts payable and accrued liabilities	(1,277)	(4,770)
Accounts payable to related party	2,728	2,855
Net cash used by operating activities	(26,406)	(32,367)
Cash flows from investing activities:
Payment for business acquired	(375)	0
Capital expenditures	(1,534)	(2,043)
Net cash used by investing activities	(1,909)	(2,043)
Cash flows from financing activities:
Gross proceeds from the sale of common stock pursuant to the at-the-market public offering (Note 1)	100	0
Payment of offering costs from the at-the-market public offering (Note 1)	(3)	0
Payment of borrowings under term loan - related party (Note 12)	(800)	0
Repurchase of common stock	(861)	(759)
Net cash used by financing activities	(1,564)	(759)
Effect of exchange rate changes on cash and cash equivalents	(29)	48
Net decrease in cash and cash equivalents	(29,908)	(35,121)
Cash and cash equivalents:
Cash and cash equivalents—beginning of period	82,777	64,437
Net decrease in cash and cash equivalents	(29,908)	(35,121)
Cash and cash equivalents—end of period	$ 52,869	$ 29,316

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 52,869	$ 82,777
Inventories, net	13,621	15,255
Other current assets	4,200	2,887
Total current assets	75,703	104,887
Property, plant and equipment, net	25,478	27,556
Goodwill	8,619	8,327
Deferred tax assets	5	6
Lease assets	632	823
Intangible assets, net	4,025	804
Other long-term assets	3,481	4,008
Total assets	117,943	146,411
Current liabilities:
Accrued liabilities	11,417	12,362
Current portion of lease liabilities	212	496
Current portion of term loan - related party, net	0	800
Total current liabilities	18,208	22,673
Long-term portion of lease liabilities	280	246
Deferred tax liabilities	166	149
Long-term portion of term loan - related party, net	76,818	74,183
Warrant liabilities	607	1,901
Total liabilities	106,022	100,383
Commitments and contingencies (Note 11)
Shareholders' equity:
Preferred Stock, $0.0001 par value; 0 shares authorized; no shares issued and outstanding as of June 30, 2026 and December 31, 2025	0	0
Common Stock, $0.0001 par value; 800,000 shares authorized; 206,420 shares issued and 205,412 shares outstanding as of June 30, 2026 and 204,925 shares issued and 204,309 shares outstanding as of December 31, 2025	21	20
Treasury Stock, at cost: June 30, 2026 - 1,008 shares and December 31, 2025 - 616000 shares	(5,298)	(4,437)
Additional paid-in-capital	354,596	351,489
Accumulated deficit	(337,368)	(301,027)
Accumulated other comprehensive loss	(30)	(17)
Total shareholders' equity	11,921	46,028
Total liabilities and shareholders' equity	117,943	146,411
Nonrelated Party
Current assets:
Accounts receivable, net	4,807	3,383
Current liabilities:
Accounts payable	3,215	2,299
Other long-term liabilities	3,369	1,231
Related Party
Current assets:
Accounts receivable, net	206	585
Current liabilities:
Accounts payable	3,364	6,716
Other long-term liabilities	$ 6,574	$ 0