LiveWire Group Inc. (NYSE:LVWR) shares jumped 58.44% to $1.22 in after-hours trading on Thursday after the electric motorcycle maker posted second-quarter results, in which consolidated revenue increased 55%.
The company announced results for the period ended Jun. 30, before the market opened on Thursday.
Revenue Climbs, Losses Narrow
Consolidated revenue came in at $9.1 million, up from $5.9 million in the year-ago period, driven by higher unit sales in both the Electric Motorcycle and STACYC segments.
LiveWire operates through two business segments. STACYC sells electric balance bikes for children and related products, while the Electric Motorcycles segment focuses on electric motorcycle sales.
The company’s net loss narrowed to $18.2 million from $18.8 million, while its Adjusted EBITDA loss improved to $15.1 million from $15.7 million compared with the prior year.
Dust Acquisition, S4 Honcho Launch Drive Expansion
In May, LiveWire, where Harley-Davidson (NYSE:HOG) is the majority and controlling stakeholder, completed the acquisition of electric off-road motorcycle manufacturer Dust Motorcycles, Inc.
CEO Karim Donnez said, “The second quarter marked an important step forward in the execution of our strategic growth plan.” He also pointed to the commencement of production on the all-new S4 Honcho platform, which expands LiveWire’s lineup into a more accessible segment of the electric motorcycle market.
The S4 Honcho platform is a lineup of lightweight, 125cc-equivalent electric mini-motorcycles comprising the S4 Honcho Trail and S4 Honcho Street models.
The company stated that its full-year guidance remains unchanged following the second-quarter results.
Trading Metrics, Technical Analysis
LiveWire has a market capitalization of $157.49 million, a 52-week high of $6.44 and a 52-week low of $0.65.
The Relative Strength Index (RSI) of LVWR stands at 40.37.
The stock’s price has fallen by 82.85% over the past 12 months.
Currently, LVWR is trading close to its annual low.
The California-based company’s steep stock decline and weak market position indicate that it continues to face considerable pressure. These difficulties highlight increased risk and suggest that clearer signs of recovery are needed before investor confidence can be rebuilt.
Price Action: The stock closed the regular session on Thursday at $0.77, down 15.29%, according to Benzinga Pro.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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