Recent Updates — WKHS
On September 22, 2026, Workhorse Group Inc.'s Board adopted the Value Creation Incentive Plan (VCIP) and approved performance awards for CEO Scott Griffith and CFO Jody Davis. The target award amounts are $15 million for Griffith and $6.5 million for Davis, payable in cash or stock upon achieving specific milestones over a five-year period ending September 30, 2031. Performance goals include reaching at least $75 million in annualized GAAP revenue for two consecutive quarters, positive gross margin, positive operating cash flow, and an average market capitalization of at least $500 million over any 45-trading day period. The company operates in the electric vehicle and advanced manufacturing industry.
Workhorse Group Inc. reported second quarter 2026 financial results on August 13, 2026. Revenue increased to $3.6 million from $0.8 million in the prior year period, while net loss widened to $20.2 million, or $1.86 per share, compared to a $12.8 million loss previously. The company delivered 26 vehicles during the quarter and reported an operating loss of $19.4 million. Workhorse continues its merger integration with Motiv, targeting $20 million in annualized cost synergies by year-end. Additionally, the firm announced plans to enter the mobile AI data center market, with initial production expected in 2027. The company operates in the electric commercial vehicle and industrial technology manufacturing industry.
Workhorse Group Inc. announced a strategic expansion into the mobile AI data center market with a new product line of turnkey, containerized mobile AI data centers. The company plans to leverage its existing engineering, testing, and manufacturing capabilities at its Union City, Indiana plant to produce these units, targeting initial production and commercial deliveries in 2027. This initiative aims to create a new revenue stream and support cost reduction efforts for its electric truck business. Workhorse intends to pursue a partnership-based go-to-market approach with final data center developers. The company also confirmed that production for its upcoming modular and cab chassis products is expected to begin in late 2027. Workhorse Group Inc. is an American engineering and manufacturing company specializing in electrification, high-voltage systems integration, mobility platforms, and deployable industrial infrastructure.
On July 20, 2026, Workhorse Group Inc. approved a Short-Term Incentive Plan (STIP) effective January 1, 2026. The plan establishes 2026 target cash bonus opportunities of 50% of annual base salary for CEO Scott Griffith, CFO Jody Davis, and EVP of Operations Joshua Anderson. Payouts range from 0% to 150% of target based on performance metrics, specifically weighted 50% on adjusted EBITDA and 50% on revenue. The company operates in the automotive industry and develops electric vehicles.
On July 13, 2026, Workhorse Group Inc. appointed Jody Davis as Chief Financial Officer and Lindsay A. Barnes as Chief Accounting Officer. Robert M. Ginnan stepped down as CFO effective July 13, 2026, and will terminate employment on July 17, 2026, following the company's acquisition of Motiv Power Systems, Inc. Jody Davis's employment agreement includes an annual base salary of $375,000, a 50% target bonus, and a proposed inducement grant of 93,750 restricted stock units. Lindsay A. Barnes, previously the VP Corporate Controller, assumes the CAO role with no change to her compensation. The company operates in the electric vehicle industry, designing and manufacturing electric vehicles and charging infrastructure.
On June 29, 2026, stockholders approved the Amended and Restated 2023 Long-Term Incentive Plan, which increased the number of common shares available for issuance by 1,089,340. The company also elected seven director nominees, ratified Carr Riggs & Ingram, L.L.C. as independent auditors for the fiscal year ending December 31, 2026, and approved executive compensation on an advisory basis. Workhorse Group Inc. develops and manufactures electric vehicles for commercial use.