What is LiveWire Group's operating income?

LiveWire Group's total operating income in 2025 was -$75.48 million, based on the following breakdown: Total Gross Profit: -$4.43 million Total Operating Expenses: $71.05 million

LiveWire Group (LVWR) Financials

$0.88 +0.03 (+4.04%)

As of 12:01 PM Eastern

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Annual Income Statements for LiveWire Group

This table shows LiveWire Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-78	-68	-79	-110	-94	-75
Consolidated Net Income / (Loss)	-78	-68	-79	-110	-94	-75
Net Income / (Loss) Continuing Operations	-78	-68	-79	-110	-94	-75
Total Pre-Tax Income	-77	-68	-79	-109	-94	-75
Total Operating Income	-77	-68	-85	-116	-110	-75
Total Gross Profit	-25	-2.57	2.90	-5.77	-13	-4.43
Total Revenue	31	36	47	38	27	26
Operating Revenue	31	36	47	38	27	26
Total Cost of Revenue	56	38	44	44	39	30
Operating Cost of Revenue	56	38	44	44	39	30
Total Operating Expenses	52	66	88	110	98	71
Selling, General & Admin Expense	52	66	88	110	98	71
Total Other Income / (Expense), net	-0.16	0.61	5.98	6.52	16	0.56
Interest Expense	0.13	-0.31	0.48	0.00	0.00	0.26
Interest & Investment Income	-	-	1.19	11	5.70	1.17
Other Income / (Expense), net	-0.03	0.30	5.27	-4.02	11	-0.35
Income Tax Expense	0.36	0.14	-0.03	0.08	0.04	0.19
Basic Earnings per Share	($0.48)	($0.42)	($0.46)	($0.54)	($0.46)	($0.37)
Weighted Average Basic Shares Outstanding	-	-	202.40M	203.16M	203.47M	204.34M
Diluted Earnings per Share	($0.48)	($0.42)	($0.46)	($0.54)	($0.46)	($0.37)
Weighted Average Diluted Shares Outstanding	-	-	202.40M	203.16M	203.47M	204.34M
Weighted Average Basic & Diluted Shares Outstanding	-	-	202.40M	203.16M	203.47M	204.34M

This table shows LiveWire Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-15	-33	-24	-25	-23	-23	-19	-19	-19	-18	-18
Consolidated Net Income / (Loss)	-15	-33	-24	-25	-23	-23	-19	-19	-19	-18	-18
Net Income / (Loss) Continuing Operations	-15	-33	-24	-25	-23	-23	-19	-19	-19	-18	-18
Total Pre-Tax Income	-15	-33	-24	-25	-23	-23	-19	-19	-19	-18	-18
Total Operating Income	-25	-34	-30	-28	-27	-25	-21	-18	-19	-18	-18
Total Gross Profit	1.09	-5.19	-4.13	-1.78	-1.52	-5.35	-2.17	0.55	-2.90	0.09	-0.54
Total Revenue	8.14	15	4.98	6.45	4.45	11	2.74	5.87	5.70	11	5.12
Operating Revenue	8.14	15	4.98	6.45	4.45	11	2.74	5.87	5.70	11	5.12
Total Cost of Revenue	7.05	20	9.11	8.23	5.97	16	4.91	5.32	8.60	11	5.65
Operating Cost of Revenue	7.05	20	9.11	8.23	5.97	16	4.91	5.32	8.60	11	5.65
Total Operating Expenses	26	29	26	26	25	20	18	19	16	18	17
Selling, General & Admin Expense	26	29	26	26	25	20	18	19	16	18	17
Total Other Income / (Expense), net	11	0.68	6.77	3.39	3.83	2.48	1.41	-0.57	-0.49	0.21	-0.43
Interest Expense	-2.73	8.17	-	-	-	4.86	0.00	-	-	-	1.42
Interest & Investment Income	-	-	2.02	1.60	1.25	-	0.50	0.33	0.17	0.16	0.60
Other Income / (Expense), net	8.04	-1.69	4.76	1.79	2.58	1.64	0.91	-0.91	-0.66	0.30	0.38
Income Tax Expense	-0.00	0.02	-0.00	0.03	0.00	0.02	0.01	-0.01	0.09	0.09	0.03
Basic Earnings per Share	($0.07)	($0.17)	($0.12)	($0.12)	($0.11)	($0.11)	($0.09)	($0.09)	($0.10)	($0.09)	($0.09)
Weighted Average Basic Shares Outstanding	202.54M	203.16M	203.16M	203.25M	203.25M	203.47M	203.57M	203.74M	203.99M	204.34M	204.76M
Diluted Earnings per Share	($0.07)	($0.17)	($0.12)	($0.12)	($0.11)	($0.11)	($0.09)	($0.09)	($0.10)	($0.09)	($0.09)
Weighted Average Diluted Shares Outstanding	202.54M	203.16M	203.16M	203.25M	203.25M	203.47M	203.57M	203.74M	203.99M	204.34M	204.76M
Weighted Average Basic & Diluted Shares Outstanding	202.54M	203.16M	203.16M	203.25M	203.25M	203.47M	203.57M	203.74M	203.99M	204.34M	204.76M

This table details how cash moves in and out of LiveWire Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	1.35	0.27	263	-97	-103	18
Net Cash From Operating Activities	-54	-75	-90	-83	-94	-54
Net Cash From Continuing Operating Activities	-54	-75	-90	-83	-94	-54
Net Income / (Loss) Continuing Operations	-78	-68	-79	-110	-94	-75
Consolidated Net Income / (Loss)	-78	-68	-79	-110	-94	-75
Depreciation Expense	3.94	4.72	4.40	5.83	10	10
Non-Cash Adjustments To Reconcile Net Income	3.66	4.00	-8.87	14	-0.45	8.64
Changes in Operating Assets and Liabilities, net	16	-15	-6.27	5.97	-9.52	2.75
Net Cash From Investing Activities	-3.24	-9.95	-14	-13	-8.07	-3.81
Net Cash From Continuing Investing Activities	-3.24	-9.95	-14	-13	-8.07	-3.81
Purchase of Property, Plant & Equipment	-3.24	-9.95	-14	-13	-8.07	-3.81
Net Cash From Financing Activities	58	85	366	-0.41	-1.44	76
Net Cash From Continuing Financing Activities	58	85	366	-0.41	-1.44	76
Repurchase of Common Equity	-	0.00	0.00	-1.97	-1.44	-1.48
Issuance of Debt	5.53	2.10	15	0.00	0.00	75
Issuance of Common Equity	0.00	0.00	294	0.00	0.00	2.21
Other Financing Activities, net	54	84	57	1.56	0.00	0.00
Other Net Changes in Cash	-	-	0.00	-	-	-0.04

This table details how cash moves in and out of LiveWire Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-16	-32	-27	-28	-25	-24	-18	-17	-13	66	-15
Net Cash From Operating Activities	-15	-28	-23	-26	-23	-22	-17	-15	-13	-7.90	-13
Net Cash From Continuing Operating Activities	-14	-28	-23	-26	-23	-22	-18	-15	-13	-7.93	-13
Net Income / (Loss) Continuing Operations	-15	-33	-24	-25	-23	-23	-19	-19	-19	-18	-18
Consolidated Net Income / (Loss)	-15	-33	-24	-25	-23	-23	-19	-19	-19	-18	-18
Depreciation Expense	1.44	3.02	2.33	2.72	2.70	2.30	3.09	2.59	2.35	2.11	2.42
Non-Cash Adjustments To Reconcile Net Income	-5.05	4.36	0.05	-6.10	-0.12	0.95	1.33	2.52	2.28	2.51	2.57
Changes in Operating Assets and Liabilities, net	3.92	-2.28	-1.66	2.23	-2.99	-2.34	-2.65	-1.15	1.48	5.07	0.15
Net Cash From Investing Activities	-2.80	-2.49	-3.24	-1.84	-1.58	-1.41	-0.61	-1.43	-0.74	-1.03	-0.69
Net Cash From Continuing Investing Activities	-2.80	-2.49	-3.24	-1.84	-1.58	-1.41	-0.61	-1.43	-0.74	-1.03	-0.69
Purchase of Property, Plant & Equipment	-2.80	-2.49	-3.24	-1.84	-1.58	-1.41	-0.61	-1.43	-0.74	-1.03	-0.69
Net Cash From Financing Activities	1.55	-1.97	-0.71	-0.22	-	-0.52	-0.25	-0.51	1.04	75	-1.61
Net Cash From Continuing Financing Activities	1.55	-1.97	-0.71	-0.22	-	-0.52	-0.25	-0.51	1.04	75	-1.61
Repayment of Debt	-	-	-	-	-	-	0.00	-	-	-	-0.80
Repurchase of Common Equity	-	-1.97	-0.71	-0.22	-	-0.52	-0.25	-0.51	-	-0.72	-0.81
Effect of Exchange Rate Changes	-	-	0.00	-	-	-0.21	0.14	-0.09	-0.01	-	0.01

This table presents LiveWire Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	62	352	266	148	146
Total Current Assets	30	302	211	98	105
Cash & Equivalents	2.67	265	168	64	83
Accounts Receivable	6.90	2.85	7.70	4.27	3.97
Inventories, net	17	29	32	27	15
Other Current Assets	3.56	4.63	3.00	2.71	2.89
Plant, Property, & Equipment, net	18	32	38	34	28
Total Noncurrent Assets	14	18	18	16	14
Goodwill	8.33	8.33	8.33	8.33	8.33
Intangible Assets	2.27	1.81	1.35	1.06	0.80
Noncurrent Deferred & Refundable Income Taxes	0.07	0.00	0.00	0.01	0.01
Other Noncurrent Operating Assets	3.47	8.17	8.06	6.20	4.83
Total Liabilities & Shareholders' Equity	62	352	266	148	146
Total Liabilities	42	45	60	33	100
Total Current Liabilities	28	34	46	30	23
Short-Term Debt	2.28	-	-	0.00	0.80
Accounts Payable	9.01	13	24	12	9.02
Accrued Expenses	16	20	21	18	12
Other Current Liabilities	1.15	1.31	1.15	0.39	0.50
Total Noncurrent Liabilities	14	11	14	2.99	78
Long-Term Debt	5.70	-	-	0.00	74
Noncurrent Deferred & Payable Income Tax Liabilities	0.19	0.02	0.09	0.12	0.15
Other Noncurrent Operating Liabilities	8.13	11	14	2.87	3.38
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	20	307	206	115	46
Total Preferred & Common Equity	20	307	206	115	46
Preferred Stock	0.00	0.00	0.00	0.00	0.00
Total Common Equity	20	307	206	115	46
Common Stock	0.00	329	340	344	352
Retained Earnings	0.00	-22	-132	-226	-301
Treasury Stock	-	0.00	-1.97	-3.41	-4.44
Accumulated Other Comprehensive Income / (Loss)	0.15	0.00	0.02	0.01	-0.02

This table presents LiveWire Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/25/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	403	326	310	296	237	205	178	128	110	89	128
Total Current Assets	403	273	256	240	182	151	127	82	65	46	88
Cash & Equivalents	0.24	236	216	200	141	113	88	46	29	16	67
Accounts Receivable	-	1.77	5.08	5.25	3.14	2.38	2.21	3.62	4.34	3.50	3.12
Inventories, net	-	31	32	33	35	34	33	28	28	23	14
Other Current Assets	-	3.90	2.72	1.95	3.13	2.04	3.36	3.28	3.65	3.57	2.96
Plant, Property, & Equipment, net	0.00	33	36	38	38	37	35	31	30	29	26
Total Noncurrent Assets	0.00	20	19	18	17	17	16	15	15	14	13
Goodwill	-	8.33	8.33	8.33	8.33	8.33	8.33	8.33	8.33	8.33	8.33
Intangible Assets	-	1.69	1.58	1.46	1.25	1.19	1.12	1.00	0.93	0.87	0.74
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	0.01	0.01	0.01	0.01	0.03	0.02	0.01
Other Noncurrent Operating Assets	0.00	9.71	9.03	8.54	7.38	7.09	6.61	5.88	5.51	5.17	4.25
Total Liabilities & Shareholders' Equity	403	326	310	296	237	205	178	128	110	89	128
Total Liabilities	402	38	61	57	53	46	41	31	30	27	99
Total Current Liabilities	11	29	41	45	44	39	36	29	27	24	20
Short-Term Debt	-	-	-	-	-	-	-	-	-	-	0.00
Accounts Payable	-	12	22	26	27	20	16	17	15	10	11
Accrued Expenses	11	15	17	18	16	18	19	11	11	13	9.69
Other Current Liabilities	-	1.39	1.39	1.40	0.91	0.69	0.51	0.35	0.35	0.54	0.24
Total Noncurrent Liabilities	391	9.20	21	12	9.18	7.12	4.70	2.46	2.85	3.36	79
Long-Term Debt	-	-	-	-	-	-	-	-	-	-	74
Noncurrent Deferred & Payable Income Tax Liabilities	-	0.02	0.08	0.08	0.09	0.11	0.11	0.14	0.15	0.14	0.16
Other Noncurrent Operating Liabilities	382	9.19	20	12	9.09	7.02	4.59	2.33	2.70	3.22	4.51
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	0.45	287	249	239	184	159	138	97	80	62	28
Total Preferred & Common Equity	0.45	287	249	239	184	159	138	97	80	62	28
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	0.45	287	249	239	184	159	138	97	80	62	28
Common Stock	31	331	333	337	342	342	344	346	348	349	353
Retained Earnings	-30	-44	-84	-99	-156	-180	-203	-245	-264	-283	-319
Treasury Stock	-	-	-	-	-2.68	-2.90	-2.90	-3.66	-4.17	-4.17	-5.24
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-0.01	-0.00	-0.01	-0.00	-0.00	-0.01	-0.01	-0.02

This table displays calculated financial ratios and metrics derived from LiveWire Group's official financial filings.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	203,988,736.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	203,988,736.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-0.37
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	16.02%	30.80%	-18.81%	-29.96%	-3.61%
EBITDA Growth	0.00%	13.65%	-19.20%	-51.66%	21.57%	26.63%
EBIT Growth	0.00%	11.94%	-17.39%	-50.60%	17.02%	23.85%
NOPAT Growth	0.00%	11.52%	-24.60%	-36.53%	4.86%	31.60%
Net Income Growth	0.00%	11.96%	-15.59%	-38.78%	14.26%	20.03%
EPS Growth	0.00%	12.50%	-9.52%	-17.39%	14.81%	19.57%
Operating Cash Flow Growth	0.00%	-38.77%	-20.31%	6.93%	-12.46%	42.95%
Free Cash Flow Firm Growth	0.00%	0.00%	-3.87%	-2.38%	-15.95%	55.10%
Invested Capital Growth	0.00%	0.00%	64.67%	-8.66%	33.51%	-24.56%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	18.27%	-13.98%	2.37%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-8.83%	11.05%	8.34%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-10.70%	10.62%	7.52%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-4.39%	7.16%	9.04%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-10.77%	9.89%	6.43%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-12.50%	11.54%	5.13%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	-2.57%	5.74%	20.69%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	4.12%	25.68%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-1.64%	2.97%	-15.93%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	-80.86%	-7.19%	6.20%	-15.18%	-48.00%	-17.27%
EBITDA Margin	-236.99%	-176.40%	-160.75%	-300.28%	-336.22%	-255.90%
Operating Margin	-249.67%	-190.42%	-181.40%	-305.05%	-414.36%	-294.03%
EBIT Margin	-249.77%	-189.58%	-170.15%	-315.62%	-373.92%	-295.40%
Profit (Net Income) Margin	-251.34%	-190.73%	-168.55%	-288.12%	-352.66%	-292.59%
Tax Burden Percent	100.46%	100.20%	99.96%	100.07%	100.05%	100.25%
Interest Burden Percent	100.17%	100.40%	99.10%	91.22%	94.27%	98.80%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-378.20%	-178.05%	-204.21%	-174.30%	-118.86%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-1,152.18%	-163.07%	-191.11%	-159.95%	-57.18%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-307.29%	129.73%	161.47%	115.78%	25.63%
Return on Equity (ROE)	0.00%	-685.49%	-48.32%	-42.74%	-58.52%	-93.23%
Cash Return on Invested Capital (CROIC)	0.00%	-578.20%	-226.92%	-195.15%	-203.00%	-90.86%
Operating Return on Assets (OROA)	0.00%	-109.57%	-38.52%	-38.84%	-48.10%	-51.52%
Return on Assets (ROA)	0.00%	-110.23%	-38.16%	-35.46%	-45.36%	-51.03%
Return on Common Equity (ROCE)	0.00%	-685.49%	-48.32%	-42.74%	-58.52%	-93.23%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-342.75%	-25.73%	-53.22%	-81.59%	0.00%
Net Operating Profit after Tax (NOPAT)	-54	-48	-59	-81	-77	-53
NOPAT Margin	-174.77%	-133.29%	-126.98%	-213.53%	-290.05%	-205.82%
Net Nonoperating Expense Percent (NNEP)	0.00%	773.98%	-14.98%	-13.09%	-14.35%	-61.68%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-19.38%	-39.44%	-67.11%	-43.66%
Cost of Revenue to Revenue	180.86%	107.19%	93.80%	115.18%	148.00%	117.27%
SG&A Expenses to Revenue	168.81%	183.23%	187.60%	289.87%	366.36%	276.76%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	168.81%	183.23%	187.60%	289.87%	366.36%	276.76%
Earnings before Interest and Taxes (EBIT)	-77	-68	-80	-120	-100	-76
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-73	-63	-75	-114	-90	-66
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	11.13	8.49	19.59
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	11.68	9.25	24.44
Price to Revenue (P/Rev)	0.00	0.00	0.00	60.25	36.71	35.12
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	55.93	18.02	23.38
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	55.83	34.29	34.82
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.00	0.40	0.00	0.00	0.00	1.63
Long-Term Debt to Equity	0.00	0.29	0.00	0.00	0.00	1.61
Financial Leverage	0.00	0.27	-0.80	-0.84	-0.72	-0.45
Leverage Ratio	0.00	3.11	1.27	1.21	1.29	1.83
Compound Leverage Factor	0.00	3.12	1.26	1.10	1.22	1.80
Debt to Total Capital	0.00%	28.60%	0.00%	0.00%	0.00%	61.96%
Short-Term Debt to Total Capital	0.00%	8.18%	0.00%	0.00%	0.00%	0.66%
Long-Term Debt to Total Capital	0.00%	20.42%	0.00%	0.00%	0.00%	61.30%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	71.40%	100.00%	100.00%	100.00%	38.04%
Debt to EBITDA	0.00	-0.13	0.00	0.00	0.00	-1.14
Net Debt to EBITDA	0.00	-0.08	0.00	0.00	0.00	0.12
Long-Term Debt to EBITDA	0.00	-0.09	0.00	0.00	0.00	-1.13
Debt to NOPAT	0.00	-0.17	0.00	0.00	0.00	-1.42
Net Debt to NOPAT	0.00	-0.11	0.00	0.00	0.00	0.15
Long-Term Debt to NOPAT	0.00	-0.12	0.00	0.00	0.00	-1.40
Altman Z-Score	0.00	0.00	0.00	21.50	14.24	1.65
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	0.00	1.07	8.77	4.55	3.29	4.63
Quick Ratio	0.00	0.34	7.78	3.80	2.30	3.83
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-73	-76	-78	-90	-40
Operating Cash Flow to CapEx	-1,656.31%	-749.06%	-636.89%	-619.98%	-1,163.35%	-1,405.09%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-159.56	0.00	0.00	-158.41
Operating Cash Flow to Interest Expense	-413.18	0.00	-188.80	0.00	0.00	-209.99
Operating Cash Flow Less CapEx to Interest Expense	-438.13	0.00	-218.45	0.00	0.00	-224.94
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.00	0.58	0.23	0.12	0.13	0.17
Accounts Receivable Turnover	0.00	5.19	9.61	7.21	4.45	6.23
Inventory Turnover	0.00	2.28	1.91	1.43	1.33	1.43
Fixed Asset Turnover	0.00	2.00	1.89	1.10	0.74	0.83
Accounts Payable Turnover	0.00	4.26	4.03	2.39	2.23	2.93
Days Sales Outstanding (DSO)	0.00	70.30	37.98	50.62	82.02	58.58
Days Inventory Outstanding (DIO)	0.00	159.74	191.15	255.60	273.47	255.80
Days Payable Outstanding (DPO)	0.00	85.70	90.56	152.99	164.02	124.36
Cash Conversion Cycle (CCC)	0.00	144.34	138.57	153.23	191.47	190.02
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	0.00	25	42	38	51	38
Invested Capital Turnover	0.00	2.84	1.40	0.96	0.60	0.58
Increase / (Decrease) in Invested Capital	0.00	25	16	-3.60	13	-12
Enterprise Value (EV)	0.00	0.00	0.00	2,123	913	894
Market Capitalization	0.00	0.00	0.00	2,291	978	902
Book Value per Share	$0.00	$0.00	$1.52	$1.02	$0.57	$0.23
Tangible Book Value per Share	$0.00	$0.00	$1.47	$0.97	$0.52	$0.18
Total Capital	0.00	28	307	206	115	121
Total Debt	0.00	7.98	0.00	0.00	0.00	75
Total Long-Term Debt	0.00	5.70	0.00	0.00	0.00	74
Net Debt	0.00	5.31	-265	-168	-64	-7.79
Capital Expenditures (CapEx)	3.24	9.95	14	13	8.07	3.81
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	1.52	2.25	-3.44	4.07	0.24
Debt-free Net Working Capital (DFNWC)	0.00	4.19	267	164	69	83
Net Working Capital (NWC)	0.00	1.90	267	164	69	82
Net Nonoperating Expense (NNE)	24	21	19	28	17	22
Net Nonoperating Obligations (NNO)	0.00	5.31	-265	-168	-64	-7.79
Total Depreciation and Amortization (D&A)	3.94	4.72	4.40	5.83	10	10
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	4.24%	4.80%	-9.06%	15.28%	0.92%
Debt-free Net Working Capital to Revenue	0.00%	11.69%	571.15%	432.53%	257.23%	323.36%
Net Working Capital to Revenue	0.00%	5.31%	571.15%	432.53%	257.23%	320.25%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	($0.54)	($0.46)	($0.37)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	203.16M	203.47M	204.34M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	($0.54)	($0.46)	($0.37)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	203.16M	203.47M	204.34M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	203.16M	203.47M	204.34M
Normalized Net Operating Profit after Tax (NOPAT)	-54	-48	-59	-81	-77	-53
Normalized NOPAT Margin	-174.77%	-133.29%	-126.98%	-213.53%	-290.05%	-205.82%
Pre Tax Income Margin	-250.19%	-190.34%	-168.62%	-287.91%	-352.50%	-291.85%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	-592.96	0.00	-167.76	0.00	0.00	-297.40
NOPAT to Interest Expense	-414.91	0.00	-125.20	0.00	0.00	-207.21
EBIT Less CapEx to Interest Expense	-617.91	0.00	-197.41	0.00	0.00	-312.34
NOPAT Less CapEx to Interest Expense	-439.86	0.00	-154.84	0.00	0.00	-222.16
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	-1.80%	-1.54%	-1.97%

This table displays calculated financial ratios and metrics derived from LiveWire Group's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	203,988,736.00	204,341,376.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	203,988,736.00	204,341,376.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-0.09	-0.09
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-44.63%	63.71%	-35.87%	-8.21%	-45.42%	-28.69%	-44.90%	-8.93%	28.26%	5.52%	86.47%
EBITDA Growth	20.82%	-40.00%	-0.72%	44.62%	-33.95%	34.31%	28.55%	29.91%	19.46%	28.06%	10.81%
EBIT Growth	17.37%	-48.65%	-7.66%	39.26%	-38.36%	33.40%	23.00%	27.32%	18.69%	26.13%	12.51%
NOPAT Growth	-20.55%	-16.89%	-22.14%	11.94%	-4.66%	25.21%	32.07%	35.15%	29.08%	29.72%	14.49%
Net Income Growth	30.39%	-47.49%	-11.81%	39.10%	-55.67%	31.16%	18.50%	24.10%	14.54%	22.65%	5.93%
EPS Growth	46.15%	-54.55%	-20.00%	40.00%	-57.14%	35.29%	25.00%	25.00%	9.09%	18.18%	0.00%
Operating Cash Flow Growth	44.70%	-8.22%	6.62%	-55.96%	-57.37%	20.72%	23.71%	42.69%	42.52%	63.88%	25.71%
Free Cash Flow Firm Growth	0.00%	0.00%	81.70%	41.64%	48.18%	-51.74%	-80.05%	47.23%	67.70%	100.08%	115.84%
Invested Capital Growth	0.00%	-8.66%	-16.90%	38.36%	27.53%	33.51%	19.25%	9.46%	-7.60%	-24.56%	-31.32%
Revenue Q/Q Growth	15.91%	85.30%	-67.01%	29.55%	-31.07%	142.09%	-74.51%	114.11%	-2.93%	99.18%	-54.95%
EBITDA Q/Q Growth	62.86%	-104.41%	28.02%	-1.37%	10.18%	-0.24%	21.71%	0.57%	-3.21%	10.46%	2.94%
EBIT Q/Q Growth	60.15%	-104.81%	27.59%	-2.76%	9.21%	1.42%	16.28%	3.00%	-1.56%	10.43%	0.85%
NOPAT Q/Q Growth	20.76%	-33.19%	9.87%	7.42%	5.82%	4.83%	18.14%	11.62%	-3.00%	5.69%	0.39%
Net Income Q/Q Growth	64.21%	-127.01%	28.55%	-4.91%	8.51%	-0.39%	15.41%	2.31%	-3.02%	9.14%	-2.87%
EPS Q/Q Growth	65.00%	-142.86%	29.41%	0.00%	8.33%	0.00%	18.18%	0.00%	-11.11%	10.00%	0.00%
Operating Cash Flow Q/Q Growth	11.80%	-87.90%	16.89%	-13.23%	11.00%	5.35%	20.02%	14.94%	10.73%	40.52%	-64.48%
Free Cash Flow Firm Q/Q Growth	-1.23%	64.45%	37.06%	-157.64%	10.10%	-4.10%	25.32%	24.48%	44.97%	100.26%	14,516.26%
Invested Capital Q/Q Growth	16.04%	-1.64%	12.61%	7.65%	6.95%	2.97%	0.58%	-1.19%	-9.71%	-15.93%	-8.44%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	13.41%	-34.38%	-82.90%	-27.63%	-34.20%	-49.75%	-79.04%	9.35%	-50.89%	0.77%	-10.50%
EBITDA Margin	-194.78%	-214.86%	-468.82%	-366.83%	-478.04%	-197.95%	-607.95%	-282.33%	-300.19%	-134.95%	-290.79%
Operating Margin	-311.19%	-223.68%	-611.13%	-436.73%	-596.74%	-234.59%	-753.41%	-310.98%	-329.98%	-156.25%	-345.49%
EBIT Margin	-212.49%	-234.86%	-515.55%	-408.95%	-538.67%	-219.36%	-720.42%	-326.39%	-341.48%	-153.57%	-338.01%
Profit (Net Income) Margin	-179.00%	-219.29%	-474.97%	-384.63%	-510.55%	-211.71%	-702.55%	-320.55%	-340.20%	-155.19%	-354.41%
Tax Burden Percent	99.99%	100.05%	99.98%	100.11%	100.01%	100.07%	100.07%	99.95%	100.48%	100.53%	100.14%
Interest Burden Percent	84.25%	93.33%	92.14%	93.95%	94.77%	96.44%	97.45%	98.26%	99.15%	100.52%	104.71%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-362.96%	-149.74%	-320.13%	-267.35%	-294.60%	-98.68%	-274.60%	-107.61%	-122.35%	-63.16%	-157.77%
ROIC Less NNEP Spread (ROIC-NNEP)	-366.12%	-145.37%	-318.89%	-264.25%	-291.74%	-94.28%	-269.47%	-99.12%	-110.46%	-48.75%	-128.64%
Return on Net Nonoperating Assets (RNNOA)	306.89%	122.82%	255.16%	212.93%	223.65%	68.25%	179.59%	59.10%	58.02%	21.85%	40.52%
Return on Equity (ROE)	-56.07%	-26.92%	-64.97%	-54.42%	-70.95%	-30.44%	-95.01%	-48.51%	-64.33%	-41.31%	-117.25%
Cash Return on Invested Capital (CROIC)	0.00%	-195.15%	-162.16%	-240.03%	-213.73%	-203.00%	-167.84%	-140.78%	-114.80%	-90.86%	-80.90%
Operating Return on Assets (OROA)	-23.08%	-28.90%	-64.56%	-55.01%	-70.34%	-28.22%	-96.22%	-49.42%	-64.02%	-26.79%	-74.09%
Return on Assets (ROA)	-19.45%	-26.99%	-59.47%	-51.74%	-66.67%	-27.23%	-93.83%	-48.53%	-63.78%	-27.07%	-77.69%
Return on Common Equity (ROCE)	-56.07%	-26.92%	-64.97%	-54.42%	-70.95%	-30.44%	-95.01%	-48.51%	-64.33%	-41.31%	-117.25%
Return on Equity Simple (ROE_SIMPLE)	-41.46%	0.00%	-60.97%	-60.44%	-75.72%	0.00%	-92.14%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-18	-24	-21	-20	-19	-18	-14	-13	-13	-12	-12
NOPAT Margin	-217.83%	-156.57%	-427.79%	-305.71%	-417.72%	-164.21%	-527.39%	-217.69%	-230.98%	-109.37%	-241.85%
Net Nonoperating Expense Percent (NNEP)	3.16%	-4.37%	-1.25%	-3.10%	-2.86%	-4.40%	-5.13%	-8.49%	-11.89%	-14.41%	-29.13%
Return On Investment Capital (ROIC_SIMPLE)	-	-11.48%	-11.59%	-	-	-15.35%	-14.88%	-16.04%	-21.31%	-10.26%	-12.07%
Cost of Revenue to Revenue	86.59%	134.38%	182.90%	127.63%	134.20%	149.75%	179.04%	90.65%	150.89%	99.23%	110.50%
SG&A Expenses to Revenue	324.59%	189.30%	528.22%	409.10%	562.54%	184.83%	674.37%	320.33%	279.09%	157.01%	335.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	324.59%	189.30%	528.22%	409.10%	562.54%	184.83%	674.37%	320.33%	279.09%	157.01%	335.00%
Earnings before Interest and Taxes (EBIT)	-17	-35	-26	-26	-24	-24	-20	-19	-19	-17	-17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-16	-32	-23	-24	-21	-21	-17	-17	-17	-15	-15
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.88	11.13	7.97	0.00	9.01	8.49	4.19	11.75	15.66	19.59	11.98
Price to Tangible Book Value (P/TBV)	6.14	11.68	8.41	0.00	9.67	9.25	4.63	13.30	18.40	24.44	17.62
Price to Revenue (P/Rev)	43.66	60.25	41.56	0.00	40.04	36.71	16.68	39.31	38.59	35.12	12.10
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	31.19	55.93	30.96	0.00	23.40	18.02	7.08	18.01	20.92	23.38	9.88
Enterprise Value to Revenue (EV/Rev)	37.44	55.83	37.55	0.00	37.19	34.29	14.79	38.08	37.94	34.82	12.33
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.63	2.62
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.61	2.62
Financial Leverage	-0.84	-0.84	-0.80	-0.81	-0.77	-0.72	-0.67	-0.60	-0.53	-0.45	-0.32
Leverage Ratio	1.24	1.21	1.19	1.26	1.26	1.29	1.30	1.32	1.34	1.83	2.04
Compound Leverage Factor	1.05	1.12	1.10	1.19	1.19	1.24	1.27	1.30	1.33	1.84	2.13
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	61.96%	72.37%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.66%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	61.30%	72.37%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	38.04%	27.63%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-1.14	-1.16
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.12	-0.10
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-1.13	-1.16
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-1.42	-1.46
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.15	-0.13
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-1.40	-1.46
Altman Z-Score	14.91	22.55	16.05	0.00	17.05	15.93	5.36	15.36	16.59	2.97	-1.05
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.29	4.55	4.13	3.91	3.54	3.29	2.85	2.38	1.92	4.63	4.29
Quick Ratio	4.52	3.80	3.27	2.98	2.52	2.30	1.74	1.24	0.82	3.83	3.45
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-56	-20	-13	-32	-29	-30	-23	-17	-9.43	0.02	3.60
Operating Cash Flow to CapEx	-525.26%	-1,106.98%	-707.81%	-1,410.10%	-1,461.35%	-1,554.30%	-2,853.18%	-1,040.35%	-1,806.94%	-764.76%	-1,888.66%
Free Cash Flow to Firm to Interest Expense	0.00	-2.45	0.00	0.00	0.00	-6.25	0.00	0.00	0.00	0.00	2.54
Operating Cash Flow to Interest Expense	0.00	-3.38	0.00	0.00	0.00	-4.50	0.00	0.00	0.00	0.00	-9.17
Operating Cash Flow Less CapEx to Interest Expense	0.00	-3.68	0.00	0.00	0.00	-4.79	0.00	0.00	0.00	0.00	-9.66
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.11	0.12	0.13	0.13	0.13	0.13	0.13	0.15	0.19	0.17	0.22
Accounts Receivable Turnover	6.13	7.21	14.36	9.29	8.30	4.45	7.22	7.09	8.78	6.23	8.32
Inventory Turnover	0.93	1.43	1.40	1.35	1.32	1.33	1.11	1.05	1.24	1.43	1.44
Fixed Asset Turnover	0.85	1.10	0.99	0.96	0.85	0.74	0.71	0.71	0.79	0.83	0.97
Accounts Payable Turnover	1.19	2.39	2.33	2.12	2.08	2.23	1.59	1.83	2.65	2.93	2.25
Days Sales Outstanding (DSO)	59.56	50.62	25.42	39.29	43.95	82.02	50.56	51.50	41.58	58.58	43.88
Days Inventory Outstanding (DIO)	392.93	255.60	260.39	270.63	277.00	273.47	329.52	348.28	293.57	255.80	252.73
Days Payable Outstanding (DPO)	305.66	152.99	156.70	172.37	175.35	164.02	230.04	199.24	137.79	124.36	162.48
Cash Conversion Cycle (CCC)	146.84	153.23	129.12	137.55	145.61	191.47	150.03	200.54	197.35	190.02	134.13
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	39	38	43	46	49	51	51	50	45	38	35
Invested Capital Turnover	1.67	0.96	0.75	0.87	0.71	0.60	0.52	0.49	0.53	0.58	0.65
Increase / (Decrease) in Invested Capital	39	-3.60	-8.69	13	11	13	8.23	4.35	-3.74	-12	-16
Enterprise Value (EV)	1,204	2,123	1,323	0.00	1,151	913	361	907	951	894	346
Market Capitalization	1,404	2,291	1,464	0.00	1,240	978	407	936	968	902	339
Book Value per Share	$1.18	$1.02	$0.90	$0.78	$0.68	$0.57	$0.48	$0.39	$0.30	$0.23	$0.14
Tangible Book Value per Share	$1.13	$0.97	$0.86	$0.74	$0.63	$0.52	$0.43	$0.35	$0.26	$0.18	$0.09
Total Capital	239	206	184	159	138	115	97	80	62	121	103
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	75	74
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	74	74
Net Debt	-200	-168	-141	-113	-88	-64	-46	-29	-16	-7.79	6.69
Capital Expenditures (CapEx)	2.80	2.49	3.24	1.84	1.58	1.41	0.61	1.43	0.74	1.03	0.69
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-5.42	-3.44	-2.76	-0.29	2.99	4.07	6.80	8.36	5.88	0.24	-0.15
Debt-free Net Working Capital (DFNWC)	195	164	138	113	91	69	53	38	22	83	67
Net Working Capital (NWC)	195	164	138	113	91	69	53	38	22	82	67
Net Nonoperating Expense (NNE)	-3.16	9.46	2.35	5.09	4.13	5.11	4.80	6.04	6.23	5.20	5.76
Net Nonoperating Obligations (NNO)	-200	-168	-141	-113	-88	-64	-46	-29	-16	-7.79	6.69
Total Depreciation and Amortization (D&A)	1.44	3.02	2.33	2.72	2.70	2.30	3.09	2.59	2.35	2.11	2.42
Debt-free, Cash-free Net Working Capital to Revenue	-16.85%	-9.06%	-7.84%	-0.85%	9.66%	15.28%	27.85%	35.08%	23.43%	0.92%	-0.53%
Debt-free Net Working Capital to Revenue	605.08%	432.53%	392.38%	325.19%	295.29%	257.23%	217.30%	158.14%	88.53%	323.36%	240.14%
Net Working Capital to Revenue	605.08%	432.53%	392.38%	325.19%	295.29%	257.23%	217.30%	158.14%	88.53%	320.25%	240.14%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.07)	($0.17)	($0.12)	($0.12)	($0.11)	($0.11)	($0.09)	($0.09)	($0.10)	($0.09)	($0.09)
Adjusted Weighted Average Basic Shares Outstanding	202.54M	203.16M	203.16M	203.25M	203.25M	203.47M	203.57M	203.74M	203.99M	204.34M	204.76M
Adjusted Diluted Earnings per Share	($0.07)	($0.17)	($0.12)	($0.12)	($0.11)	($0.11)	($0.09)	($0.09)	($0.10)	($0.09)	($0.09)
Adjusted Weighted Average Diluted Shares Outstanding	202.54M	203.16M	203.16M	203.25M	203.25M	203.47M	203.57M	203.74M	203.99M	204.34M	204.76M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	202.54M	203.16M	203.16M	203.25M	203.25M	203.47M	203.57M	203.74M	203.99M	204.34M	204.76M
Normalized Net Operating Profit after Tax (NOPAT)	-18	-24	-21	-20	-19	-18	-14	-13	-13	-12	-12
Normalized NOPAT Margin	-217.83%	-156.57%	-427.79%	-305.71%	-417.72%	-164.21%	-527.39%	-217.69%	-230.98%	-109.37%	-241.85%
Pre Tax Income Margin	-179.02%	-219.19%	-475.05%	-384.20%	-510.51%	-211.55%	-702.04%	-320.72%	-338.59%	-154.37%	-353.92%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	-4.34	0.00	0.00	0.00	-4.85	0.00	0.00	0.00	0.00	-12.20
NOPAT to Interest Expense	0.00	-2.89	0.00	0.00	0.00	-3.63	0.00	0.00	0.00	0.00	-8.73
EBIT Less CapEx to Interest Expense	0.00	-4.64	0.00	0.00	0.00	-5.14	0.00	0.00	0.00	0.00	-12.69
NOPAT Less CapEx to Interest Expense	0.00	-3.20	0.00	0.00	0.00	-3.92	0.00	0.00	0.00	0.00	-9.22
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-1.80%	-2.39%	-3.01%	-2.78%	-1.54%	-1.10%	-1.53%	-1.59%	-1.97%	-2.75%

Financials Breakdown Chart

Key Financial Trends

LiveWire Group (NYSE: LVWR) continues to face significant profitability and cash-flow challenges, even as it still holds a sizeable cash balance and little near-term debt pressure. The latest quarter shows another meaningful operating loss, weak gross margin, and continued cash burn, while the longer multi-year trend points to a business that has not yet found operating leverage.

Cash remains healthy in the near term: LiveWire ended Q1 2026 with $67.5 million in cash and equivalents, which gives it flexibility despite ongoing losses.
No short-term debt: The company reported $0 in short-term debt in Q1 2026, reducing immediate refinancing risk.
Inventory has declined from prior peaks: Inventory fell to $14.2 million in Q1 2026 from $22.9 million in Q3 2025 and $28.5 million in Q1 2025, which may help working capital over time.
Interest and other income helped offset losses somewhat: In Q1 2026, the company generated $603,000 in interest and investment income plus $383,000 in other income.
Revenue improved sequentially in Q1 2026: Operating revenue rose to $5.1 million from $11.4 million in Q4 2025, but year-over-year and absolute profitability remain weak.
Shares outstanding are relatively stable: Basic shares were 204.8 million in Q1 2026, only modestly above prior periods, so dilution has not been dramatic recently.
Gross profit remains volatile: The company posted a negative gross profit of $537,000 in Q1 2026, suggesting pricing and/or production efficiency are still inconsistent.
Operating losses remain very large: Q1 2026 operating loss was $17.7 million, essentially flat versus recent quarters and still far larger than revenue.
Profitability has deteriorated on a longer timeline: The company has posted losses in every quarter shown, with quarterly net losses generally ranging from roughly $17 million to $24 million over the last four years.
Cash burn continues: Q1 2026 operating cash flow was negative $13.0 million, and cash and equivalents dropped from $86.2 million at year-end 2025 to $67.5 million in Q1 2026.

Balance sheet trend: Total assets were $127.6 million in Q1 2026 versus $237.1 million in Q1 2024, while common equity fell to $28.3 million from $97.2 million over the same period. That decline reflects continued losses and shrinking cash, even though the company still has positive equity.

Bottom line: LiveWire is still in a cash-rich, loss-making phase. The most important takeaway for retail investors is that the company has enough liquidity for now, but it has not yet demonstrated a path to sustained gross margin improvement or operating profitability. Until revenue growth becomes much more meaningful or expenses come down materially, the stock remains high-risk.

07/22/26 10:19 AM ETAI Generated. May Contain Errors.

LiveWire Group Financials - Frequently Asked Questions

According to the most recent income statement we have on file, LiveWire Group's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

LiveWire Group's net income appears to be on an upward trend, with a most recent value of -$75.11 million in 2025, falling from -$77.57 million in 2020. The previous period was -$93.93 million in 2024. View LiveWire Group's forecast to see where analysts expect LiveWire Group to go next.

LiveWire Group's total operating income in 2025 was -$75.48 million, based on the following breakdown:

Total Gross Profit: -$4.43 million
Total Operating Expenses: $71.05 million

Over the last 5 years, LiveWire Group's total revenue changed from $30.86 million in 2020 to $25.67 million in 2025, a change of -16.8%.

LiveWire Group's total liabilities were at $100.38 million at the end of 2025, a 205.6% increase from 2024, and a 138.9% increase since 2021.

In the past 4 years, LiveWire Group's cash and equivalents has ranged from $2.67 million in 2021 to $265.24 million in 2022, and is currently $82.78 million as of their latest financial filing in 2025.

Over the last 5 years, LiveWire Group's book value per share changed from 0.00 in 2020 to 0.23 in 2025, a change of 22.6%.

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Financial statements for NYSE:LVWR last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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LiveWire Group (LVWR) Financials

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LiveWire Group (LVWR) Financials

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Financials Breakdown Chart

Key Financial Trends

LiveWire Group Financials - Frequently Asked Questions

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How has LiveWire Group's net income changed over the last 5 years?

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