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LiveWire Group, Inc.
LVWR-WTCIK 0001898795NYSEEmerging GrowthMotorcycles, Bicycles & PartsDelawareFY ends Dec 31
Period
FY 2025
Revenue
$25.67M
Net Income
$-75.11M
Total Assets
$146.41M
Equity
$46.03M
Shares Out
204.34M
Op. Cash Flow
$-53.55M
Business
LiveWire Group, Inc. is an all-electric motorcycle company focused on pioneering the two-wheel electric motorcycle market. It designs, develops and sells electric motorcycles, electric balance bikes for kids (STACYC), and related parts, accessories and apparel, and provides connected software services such as telematics, mobile apps and firmware over-the-air updates. The company operates through two reportable segments: Electric Motorcycles and STACYC, managed separately with distinct product portfolios and distribution strategies. Products are sold through independent dealers and retailers, a company-owned retail location, and online channels across the U.S., Canada and select European markets.
Summary from filing dated 2025-02-21
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenue, net | 26 | 27 | 38 | 47 | 36 | |
| Cost of goods sold (including related party amounts of $10,926, $19,533, and $23,433 in 2025, 2024, and 2023, respectively, as described in Note 15) | 30 | 39 | 44 | 44 | 38 | |
| Selling, administrative and engineering expense (including related party amounts of $5,234, $10,164, and $14,993 in 2025, 2024, and 2023, respectively, as described in Note 15) | 71 | 98 | 110 | 88 | 66 | |
| Total operating costs and expenses | 101 | 137 | 154 | 132 | 104 | |
| Operating (loss) income | −75 | −110 | −116 | −85 | −68 | |
| Interest expense, related party | 255,000 | 0 | 0 | — | — | |
| Interest income | 1 | 6 | 11 | 1 | — | |
| Change in fair value of warrant liabilities | −352,000 | 11 | −4 | 5 | — | |
| Loss before income taxes | −75 | −94 | −109 | −79 | −68 | |
| Income tax provision | 189,000 | 43,000 | 78,000 | −33,000 | 138,000 | |
| Net loss | −75 | −94 | −110 | −79 | −68 | |
| Foreign currency translation adjustments | −29,000 | −5,000 | 17,000 | −145,000 | −85,000 | |
| Comprehensive loss | −75 | −94 | −110 | −79 | −68 | |
| Net loss per share, basic (in dollars per share) | −0.37 | −0.46 | −0.54 | −0.46 | −0.42 | |
| Net loss per share, diluted (in dollars per share) | −0.37 | −0.46 | −0.54 | −0.46 | −0.42 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2022 2022-09-30 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 83 | 64 | 168 | 265 | — | |
| Inventories, net | 15 | 27 | 32 | 29 | — | |
| Other current assets | 3 | 3 | 3 | 5 | — | |
| Total current assets | 105 | 98 | 211 | 302 | — | |
| Property, plant and equipment, net | 28 | 34 | 38 | 32 | 26 | |
| Goodwill | 8 | 8 | 8 | 8 | — | |
| Deferred tax assets | 6,000 | 7,000 | 4,000 | 0 | — | |
| Lease assets | 823,000 | 765,000 | 2 | 3 | — | |
| Intangible assets, net | 804,000 | 1 | 1 | 2 | — | |
| Other long-term assets | 4 | 5 | 6 | 5 | — | |
| Total assets | 146 | 148 | 266 | 352 | 183 | |
| Accrued liabilities | 12 | 18 | 21 | 20 | 15 | |
| Current portion of lease liabilities | 496,000 | 394,000 | 1 | 1 | — | |
| Current portion of term loan - related party, net | 800,000 | 0 | — | — | — | |
| Total current liabilities | 23 | 30 | 46 | 34 | 134 | |
| Long-term portion of lease liabilities | 246,000 | 405,000 | 792,000 | 2 | — | |
| Deferred tax liabilities | 149,000 | 118,000 | 93,000 | 15,000 | — | |
| Long-term portion of term loan - related party, net | 74 | 0 | — | — | — | |
| Warrant liabilities | 2 | 2 | 12 | — | — | |
| Other long-term liabilities | 1 | 919,000 | 814,000 | 246,000 | — | |
| Total liabilities | 100 | 33 | 60 | 45 | 140 | |
| Commitments and contingencies (Note 14) | — | — | — | — | — | |
| Preferred Stock, $0.0001 par value; 0 shares authorized; no shares issued and outstanding as of December 31, 2025 and 2024 | 0 | 0 | 0 | 0 | — | |
| Common Stock, $0.0001 par value; 800,000 shares authorized; 204,925 shares issued and 204,309 shares outstanding as of December 31, 2025 and 203,787 shares issued and 203,423 shares outstanding as of December 31, 2024 | 20,000 | 20,000 | 20,000 | 20,000 | — | |
| Treasury Stock, at cost: December 31, 2025 - 616 shares, December 31, 2024 - 364 shares | −4 | −3 | −2 | 0 | — | |
| Additional paid-in-capital | 351 | 344 | 340 | 329 | — | |
| Accumulated deficit | −301 | −226 | −132 | −22 | — | |
| Accumulated other comprehensive (loss) income | −17,000 | 12,000 | 17,000 | 0 | — | |
| Total shareholders' equity | 46 | 115 | 206 | 307 | 43 | |
| Total liabilities and shareholders' equity | 146 | 148 | 266 | 352 | 183 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 10 | 10 | 6 | 4 | 5 | |
| Stock compensation expense | 5 | 5 | 9 | 394,000 | 786,000 | |
| Provision for expected credit losses | 124,000 | 230,000 | 53,000 | 145,000 | 55,000 | |
| Deferred income taxes | 32,000 | 22,000 | 74,000 | −125,000 | −22,000 | |
| Inventory write-down | 3 | 6 | 3 | 1 | 2 | |
| Cloud computing arrangements development costs | 0 | −45,000 | −1 | −5 | 0 | |
| Other, net | −75,000 | −244,000 | −117,000 | −144,000 | −193,000 | |
| Accounts receivable, net | 535,000 | 192,000 | −2 | 4 | −2 | |
| Accounts receivable from related party | −186,000 | 3 | −3 | −593,000 | −89,000 | |
| Inventories | 9 | −569,000 | −6 | −21 | 2 | |
| Other current assets | 629,000 | 540,000 | 2 | −1 | −3 | |
| Accounts payable and accrued liabilities | −4 | −2 | 160,000 | 6 | −11 | |
| Accounts payable to related party | −3 | −11 | 15 | 6 | 0 | |
| Net cash used by operating activities | −54 | −94 | −83 | −90 | −75 | |
| Capital expenditures | −4 | −8 | −13 | −14 | −10 | |
| Net cash used by investing activities | −4 | −8 | −13 | −14 | −10 | |
| Borrowings under term loan - related party (Note 15) | 75 | 0 | 0 | 15 | 2 | |
| Gross proceeds from the sale of common stock pursuant to the at-the-market public offering (Note 1) | 2 | 0 | 0 | — | — | |
| Payment of offering costs from the at-the-market public offering (Note 1) | −454,000 | 0 | 0 | — | — | |
| Repurchase of common stock | −1 | −1 | −2 | 0 | 0 | |
| Proceeds received from exercise of warrants (Note 6) | 0 | 0 | 2 | 0 | — | |
| Net cash provided (used) by financing activities | 76 | −1 | −412,000 | 366 | 85 | |
| Net increase (decrease) in cash and cash equivalents | 18 | −103 | −97 | 263 | 267,000 | |
| Effect of exchange rate changes on cash and cash equivalents | −36,000 | −96,000 | 0 | 0 | — |
Filings
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