Workhorse Group Inc. (WKHS) Revenue History
Annual and quarterly revenue from 2007 to present
WKHS Revenue Over Time (2007–2025)
WKHS Revenue Growth History
8 of 15 years with positive growth- FY2007 revenue growth
- N/A
- FY2008 revenue growth
- N/A
- FY2009 revenue growth
- N/A
- FY2010 revenue growth
- N/A
- FY2011 revenue growth
- +35.1%
- FY2012 revenue growth
- +43.2%
- FY2013 revenue growth
- -34.8%
- FY2014 revenue growth
- +0.0%
- FY2015 revenue growth
- -21.1%
- FY2016 revenue growth
- +4482.7%
- FY2017 revenue growth
- +69.1%
- FY2018 revenue growth
- -93.0%
- FY2019 revenue growth
- -50.7%
- FY2020 revenue growth
- +269.8%
- FY2021 revenue growth
- -161.2%
- FY2022 revenue growth
- +689.6%
- FY2023 revenue growth
- +160.7%
- FY2024 revenue growth
- -49.5%
- FY2025 revenue growth
- +220.6%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $4.3M | +575.4% |
| Q4 2025 | $12.5M | +550.2% |
| Q3 2025 | $2.4M | -5.0% |
| Q2 2025 | $5.7M | +573.0% |
| Q1 2025 | $641K | -52.1% |
| Q4 2024 | $1.9M | -56.3% |
| Q3 2024 | $2.5M | -17.1% |
| Q2 2024 | $842K | -78.8% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
WKHS's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
WKHS Revenue Analysis (2007–2025)
Current Revenue & Growth
As of June 21, 2026, Workhorse Group Inc. (WKHS) generated trailing twelve-month (TTM) revenue of $24.9 million, reflecting explosive growth of +575.4% year-over-year. The most recent quarter (Q1 2026) recorded $4.3 million in revenue, down 65.4% sequentially.
Historical Growth Trajectory
WKHS's 5-year compound annual growth rate (CAGR) stands at +72.4%, indicating outstanding long-term growth trajectory. The 3-year CAGR of +61.6% is below the 5-year average, signalling a growth deceleration in recent years. Workhorse Group Inc.'s highest annual revenue of $21.2 million was recorded in 2025, an all-time high.
Revenue by Segment
WKHS's revenue is primarily driven by Vehicles (100%), and Extended Warranty Revenue (0%). With over half of revenue concentrated in Vehicles, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Consumer Cyclical sector peers — including RIVN (+10.4% YoY), BLNK (-4.4% YoY), and UPS (-2.7% YoY) — WKHS has outperformed the peer group in revenue growth. Compare WKHS vs RIVN →
WKHS Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| WKHSCurrent | $25M | +575.4% | +72.4% | -223.7% | |
 RIVN | $5.4B | +10.4% | - | -66.5% | |
 BLNK | $103M | -4.4% | +75.4% | -72.4% | |
 UPS | $88.6B | -2.7% | +1.0% | 9.6% | |
 FDX | $87.9B | +4.7% | +4.9% | 6.9% | |
 AMZN | $716.9B | +14.2% | +13.2% | 11.2% |
WKHS Historical Revenue Data (2007–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $21.2M | +220.6% | $-9,555,000 | -45.0% | $-47,440,000 | -223.7% |
| 2024 | $6.6M | -49.5% | $-22,225,729 | -335.9% | $-73,886,913 | -1116.7% |
| 2023 | $13.1M | +160.7% | $-25,255,793 | -192.9% | $-105,298,466 | -804.1% |
| 2022 | $5.0M | +689.6% | $-32,649,236 | -650.0% | $-129,082,864 | -2569.8% |
| 2021 | $-851,922 | -161.2% | $-126,540,752 | 14853.6% | $-185,114,854 | 21729.1% |
| 2020 | $1.4M | +269.8% | $-11,674,589 | -838.4% | $-40,981,178 | -2943.0% |
| 2019 | $377K | -50.7% | $-5,468,329 | -1452.2% | $-23,866,937 | -6338.1% |
| 2018 | $763K | -93.0% | $-15,190,392 | -1990.4% | $-34,067,567 | -4463.9% |
| 2017 | $10.8M | +69.1% | $-13,670,403 | -126.0% | $42.1M | 387.8% |
| 2016 | $6.4M | +4482.7% | $-7,163,462 | -111.7% | $19.5M | 304.2% |
| 2015 | $140K | -21.1% | $140K | 100.0% | $8.5M | 6044.4% |
| 2014 | $178K | +0.0% | $178K | 100.0% | $6.2M | 3498.4% |
| 2013 | $178K | -34.8% | $17K | 9.3% | $5.8M | 3282.5% |
| 2012 | $272K | +43.2% | $119K | 43.8% | $4.0M | 1485.3% |
| 2011 | $190K | +35.1% | $27K | 14.3% | $-8,695,126 | -4575.5% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
19+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
WKHS — Frequently Asked Questions
Quick answers to the most common questions about buying WKHS stock.
Is WKHS's revenue growth accelerating or slowing?
WKHS revenue growth is accelerating. TTM revenue reached $25M, up +575.4% year-over-year — ahead of the 5-year CAGR of +72.4%. This indicates the business is expanding faster than its historical baseline.
What is WKHS's revenue history from 2007 to 2026?
Workhorse Group Inc. (WKHS) revenue history spans 2007 to 2026. TTM revenue as of 2026 is $25M, growing at +575.4% YoY. The 5-year CAGR is +72.4%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is WKHS's long-term revenue growth rate (CAGR)?
Workhorse Group Inc.'s 5-year revenue CAGR of +72.4% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +575.4% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for WKHS.
Why does WKHS's quarterly revenue fluctuate?
WKHS quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Workhorse Group Inc.'s revenue data from 2007 to 2026 shows full historical quarterly detail on this page.
How is WKHS's revenue distributed by segment?
WKHS reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does WKHS's revenue compare to industry peers?
Workhorse Group Inc. (WKHS) with TTM revenue of $25M and +575.4% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.