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Income Statement (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Revenue | 2.5M | 197.9% |
| Gross Profit | -4.1M | 36% |
| Cost of Revenue | 6.6M | 9% |
| Operating expense | 10M | 28.6% |
| Net Income | -25M | 4.5% |
Balance Sheet (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Total Assets | 101M | 3.8% |
| Total Liabilities | 54M | 15.9% |
| Total Equity | 47M | 19.4% |
| Shares Outstanding | 32M | 53.6% |
Cash Flow (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Cash from operations | -10M | 17.5% |
| Cash from investing | -270,000 | 63.4% |
| Cash from financing | 8.3M | 27.7% |
EPS
Financial Highlights for Workhorse Group in Q3 '24
Workhorse Group reported a revenue of 2.5M, which is a 197.9% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at -4.1M, marking a 36% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 6.6M, a -9% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 10M, showing a -28.6% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was -25M, showing a 4.5% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
It was a positive quarter for Workhorse Group with growth in revenue, gross profit, and net income.
