Revenue growth is strong but from a very low base, and the company remains deeply unprofitable with a $319M accumulated deficit and only $67.5M in cash. The reiterated $70M-$80M operating loss guidance implies continued cash burn. Monitor the S4 Honcho launch in Spring 2026 as a potential catalyst for revenue acceleration, but the path to profitability remains distant.
Price Chart
Executive Summary
LiveWire Group reported Q1 2026 revenue of $5.1M, up 86% YoY from $2.7M, driven by a 176% increase in Electric Motorcycle unit sales and a 101% increase in STACYC unit sales. Net loss narrowed to $18.1M from $19.3M, and free cash flow improved 25% to -$13.6M. The company reiterated its full-year 2026 guidance for an operating loss of $70M-$80M, maintaining the same outlook as provided in February.
Key Financial Metrics
Key Facts
- Consolidated revenue $5.1M, up 86% YoY from $2.7M
- Consolidated operating loss improved 14% to ($17.7M) from ($20.7M)
- Net loss improved 6% to ($18.1M) from ($19.3M)
- Electric Motorcycle unit sales +176% YoY; revenue +236% to $1.4M
- STACYC unit sales +101% YoY; revenue +60% to $3.7M
- Free cash flow improved 25% to ($13.6M) from ($18.1M)
- Full-year 2026 guidance reiterated: operating loss $70M-$80M (unchanged from Feb 2026)
- Cash and cash equivalents $67.5M, down from $82.8M at Dec 31, 2025
- Company remains loss-making with accumulated deficit of $319.2M
- Market share of 76% in U.S. electric motorcycle 50+ kW on-road EV segment
Financial Impact
Revenue growth of 86% YoY to $5.1M; net loss of $18.1M; cash burn of $13.6M FCF
Risk Factors
- Continued operating losses and cash burn; cash position declining ($67.5M from $82.8M)
- Accumulated deficit of $319.2M with no near-term profitability
- Dependence on Harley-Davidson for manufacturing, services, and related-party financing ($74.2M term loan)
- Low revenue base makes growth rates volatile and less meaningful
- At-the-market equity offering (up to $50M) could cause dilution
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001898795-26-000044 |
| Document: lvwr-20260505.htm | 0001898795-26-000044 |
| Document: 0001898795-26-000044-index-headers.html | 0001898795-26-000044 |
| Document: 0001898795-26-000044-index.html | 0001898795-26-000044 |
| Document: 0001898795-26-000044.txt | 0001898795-26-000044 |
| 8-K Data (Synthetic) | 0001898795-26-000044 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 8-K | $1.66 | awaiting T+20 | — | $1.68 (−1.20%) |
Aug 4, 2026 11w ago | Insider Cluster | $1.24 $1.20 | ▲ +3.23% | ▲ +2.62% | $1.68 (−35.48%) |
Aug 3, 2026 12w ago | Insider Cluster | $1.42 $1.14 | ▲ +19.72% | ▲ +18.48% | $1.68 (−18.31%) |
Jul 31, 2026 12w ago | Insider Cluster | $1.68 $1.22 | ▼ −27.38% | ▼ −28.62% | $1.68 (−0.00%) |
Jul 31, 2026 12w ago | 144 | $1.81 $1.35 | ▼ −25.41% | ▼ −28.40% | $1.68 (−7.18%) |
Jul 29, 2026 12w ago | 8-K | $2.59 $1.37 | ▲ +47.10% | ▲ +52.12% | $1.68 (+35.14%) |
Jul 23, 2026 13w ago | 8-K | $0.7700 $1.13 | ▲ +46.75% | ▲ +43.45% | $1.68 (+118.18%) |
Jun 11, 2026 19w ago | Institutional Cluster | $1.18 $0.7087 | ▼ −39.94% | ▼ −41.83% | $1.68 (+42.37%) |
May 22, 2026 22w ago | 8-K | — | awaiting T+20 | — | — |
May 19, 2026 22w ago | 8-K | — | awaiting T+20 | — | — |
US Market Status
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