Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data LiveWire Group, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2020
FY2022
FY2022
FY2023
FY2024
FY2025
Revenue
30.9
35.8
46.8
38
26.6
25.7
Cost of revenue
55.8
38.4
43.9
43.8
39.4
30.1
Gross profit
-25
-2.57
2.9
-5.77
-12.8
-4.43
Research and development
23
35.3
35.6
54.1
41.7
23.9
Selling, general and administrative
52.1
65.6
87.9
110
97.6
71.1
Operating expenses
6.45
2.17
2.17
2.7
Operating income
-77.1
-68.2
-85
-116
-110
-75.5
Interest expense
0
0
0.26
Other non-operating income
-0.03
0.3
0.24
0
0
Pre-tax income
-77.2
-68.2
-79
-109
-93.9
-74.9
Income tax
0.36
0.14
-0.03
0.08
0.04
0.19
Net income
-77.6
-68.3
-78.9
-110
-93.9
-75.1
EBITDA
-73.1
-63.5
-80.6
-110
-100
-65.3
EPS, basic
-0.48
-0.42
-0.46
-0.54
-0.46
-0.37
EPS, diluted
-0.48
-0.42
-0.46
-0.54
-0.46
-0.37
Shares, basic (weighted)
161
161
172
203
203
204
Shares, diluted (weighted)
161
161
172
203
203
204
Balance sheet
FY2020
FY2022
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
2.4
2.67
265
168
64.4
82.8
Receivables
6.77
2.33
Inventory
16.8
29.2
32.1
26.9
15.3
Other current assets
3.56
4.63
3
2.71
2.89
Total current assets
29.9
302
211
98.4
105
Property, plant and equipment
17.9
31.6
37.7
34
27.6
Lease right-of-use assets
3.47
3.13
1.87
0.77
0.82
Goodwill
8.33
8.33
8.33
8.33
8.33
8.33
Intangible assets
2.27
1.81
1.35
1.06
0.8
Other non-current assets
0
5.04
6.19
5.43
4.01
Total assets
51.7
62
352
266
148
146
Accounts payable
9.01
7.06
Accrued liabilities
15.6
20.3
21.2
18
12.4
Deferred revenue
1.64
0.16
0.21
0.17
0.66
Short-term debt
0
0.8
Total current liabilities
28
34.4
46.3
29.9
22.7
Long-term debt
0
74.2
Lease liabilities
2.42
1.91
0.79
0.41
0.25
Other non-current liabilities
0.38
0.25
0.81
0.92
1.23
Total liabilities
42
45
60.3
32.8
100
Total debt
0
75
Paid-in capital
0
329
340
344
351
Retained earnings
0
-22.4
-132
-226
-301
Treasury stock
0
-1.97
-3.41
-4.44
Other comprehensive income
0.15
0
0.02
0.01
-0.02
Shareholders' equity
2.02
19.9
307
206
115
46
Total equity
2.02
19.9
307
206
115
46
Total liabilities and equity
62
352
266
148
146
Shares outstanding
202
203
203
204
Cash flow statement
FY2020
FY2022
FY2022
FY2023
FY2024
FY2025
Net income
-77.6
-68.3
-78.9
-110
-93.9
-75.1
Depreciation and amortization
3.94
4.72
4.4
5.83
10
10.1
Stock-based compensation
0.19
0.79
0.39
8.93
4.63
4.94
Deferred income tax
0.1
-0.02
-0.1
0.07
0.02
0.03
Change in receivables
-2.49
-2.12
4.16
-2.02
0.19
0.54
Change in inventory
-9.6
1.56
-21.1
-5.63
-0.57
8.8
Change in payables
23.3
-11.1
6.37
0.16
-2.1
-3.98
Cash from operations
-53.7
-74.5
-89.7
-83.5
-93.9
-53.5
Capital expenditures
-3.24
-9.95
-14.1
-13.5
-8.07
-3.81
Cash from investing
-3.24
-9.95
-14.1
-13.5
-8.07
-3.81
Stock issued
0
0
2.21
Share buybacks
0
0
-1.97
-1.44
-1.02
Cash from financing
58.3
84.8
366
-0.41
-1.44
75.7
Exchange rate effect
0
0
-0.1
-0.04
Net change in cash
1.35
0.27
263
-97.3
-103
18.3
Free cash flow
-57
-84.5
-104
-96.9
-102
-57.4
Income taxes paid
0
0
0.01
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $1.50 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
-10.9%
Gross profit / revenue.
Operating margin
-230.9%
Operating income / revenue.
EBITDA margin
-201.0%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-233.6%
Pre-tax income / revenue.
Net margin
-234.5%
Net income / revenue.
FCF margin
-162.7%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-152.1%
Cash from operations / revenue.
Return on equity (ROE)
-615.4%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-62.2%
Net income / average total assets.
Return on invested capital (ROIC)
-159.1%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue
220.0%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
12.8%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
10.6%
Capital expenditures / revenue.
D&A / revenue
29.9%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-3.6%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-18.2%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
-3.6%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-60.0%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-46.9%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
86.8%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
-1.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-25.3%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
23.1%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
0.3%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
5.8%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
4.8%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
4.16x
Current assets / current liabilities.
Quick ratio
2.90x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
2.90x
(Cash + short-term investments) / current liabilities.
Debt / equity
6.44x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
65.1%
Total debt / total assets.
Liabilities / assets
89.9%
Total liabilities / total assets.
Net debt
$23.9M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.15
Revenue / diluted weighted shares.
FCF per share
-$0.25
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.23
Cash from operations / diluted weighted shares.
Book value per share
$0.06
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
9.85x
Market cap / revenue.
P/B
25.8x
Market cap / shareholders' equity. Only when equity is positive.
EV/Sales
10.6x
Enterprise value / revenue.
FCF yield
-16.5%
Free cash flow / market cap.
Earnings yield
-23.8%
Net income / market cap (the inverse of P/E).
Shareholder yield
0.4%
(Dividends paid + share buybacks) / market cap.
What was LiveWire Group, Inc.'s revenue in fiscal 2025?
LiveWire Group, Inc. reported revenue of $25.7M for fiscal 2025, 3.6% lower than the year before.
Was LiveWire Group, Inc. profitable in fiscal 2025?
No. It reported a net loss of $75.1M.
How much free cash flow did LiveWire Group, Inc. generate in fiscal 2025?
Cash from operations of $53.5M minus capital expenditures of $3.8M left free cash flow of -$57.4M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.