MILWAUKEE--(BUSINESS WIRE)--November 04, 2025--
LiveWire Group, Inc. ("LiveWire" or the "Company") $(LVWR)$ today reported third quarter 2025 results.
"The LiveWire team worked diligently through the quarter to increase market share and maintain our number one position in U.S. electric motorcycle retail sales in the 50+ horsepower on-road EV segment(1) by delivering a company record-setting quarter. STACYC delivered 46% revenue growth, contributing to a 28% increase in consolidated revenue compared to the same quarter prior year. Continued focus on cost control reduced consolidated operating loss by 29% from the prior year. We're also advancing our strategic expansion to attract new riders with the S4 Honcho$(TM)$ Trail and S4 Honcho(TM) Street currently on display at EICMA(2) in Milan. With production targeted to start in Spring '26, we can't wait to see these products hit the roads next year," said Karim Donnez, CEO, LiveWire.
Third Quarter and Year-to-Date Highlights and Financial Results
-- Consolidated revenue increased by 28% compared to the same quarter 2024
driven by increased unit sales in both Electric Motorcycles and STACYC
segments, partially offset by Electric Motorcycles incentives.
-- Consolidated operating loss decreased by $7.7 million from same quarter
2024 primarily driven by a decrease in consolidated selling,
administrative and engineering expense.
-- Reduced consolidated selling, administrative and engineering expense by
$9.1 million from same quarter 2024 primarily due to cost reduction
initiatives.
-- Reduced net cash used year-to-date during 2025 by $31.4 million, or 39%,
versus the same period in 2024.
-- Launched an At-The-Market offering to raise up to $50 million in
additional capital through share issuance.
Total Company Highlights
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$ in millions* 3rd quarter
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2025 2024 Change
------------------------------------------ ----------- ---------- ---------
Consolidated Revenue $5.7 $4.4 28%
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Consolidated Operating Loss ($18.8) ($26.5) 29%
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Net Loss ($19.4) ($22.7) 15%
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Net Cash Used During the Year ** ($48.1) ($79.5) 39%
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*Amounts may not add or recalculate due to rounding.
(**) Net cash used during the year is the equivalent of the net decrease in
cash and cash equivalents included on the Company's Consolidated Statements of
Cash Flows.
The Company's consolidated net loss was $19.4 million for the third quarter 2025 as compared to $22.7 million in the same period prior year driven by the segment results noted below, offset by a decrease of $3.2 million of non-operating income related to the change in fair value of the outstanding warrants as of September 30, 2025 and a decrease of $1.1 million in interest income as compared to prior year.
LiveWire Group, Inc. is comprised of two business segments:
-- Electric Motorcycles -- focused on the sale of electric motorcycles and
related products
-- STACYC -- focused on the sale of electric balance bikes for kids,
electric bikes, and related products
STACYC
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$ in millions* 3rd quarter
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2025 2024 Change
---------------------------------------------- ------ ------ ------
Electric Balance Bike and Electric Bike Units 5,805 3,442 69%
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Revenue $4.7 $3.2 46%
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Operating Loss ($0.4) ($1.5) 73%
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*Amounts may not add or recalculate due to rounding.
STACYC revenue increased in the third quarter of 2025 compared to 2024 by $1.5 million primarily driven by higher volumes. Selling, administrative, and engineering expense decreased by $0.3 million primarily driven by a reduction in advertising and marketing expense.
Electric Motorcycles
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$ in millions* 3rd quarter
---------------------------- -----------------------------
2025 2024 Change
---------------------------- --------- --------- -------
Motorcycle Units 184 99 86%
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Revenue $1.0 $1.2 (20%)
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Operating Loss ($18.4) ($25.0) 26%
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*Amounts may not add or recalculate due to rounding.
Electric Motorcycles unit sales increased by 86 percent compared to the prior year same quarter. This increase in volume was offset by increased incentives implemented to drive demand in the market, resulting in a decrease in revenue of $0.2 million in the third quarter of 2025 compared to the same quarter in the prior year. Operating loss decreased by $6.6 million primarily driven by an $8.8 million reduction in selling, administrative and engineering expense from cost reduction activities taken, including decreases in people costs and other spending, compared to the same quarter in the prior year.
Financial guidance
Due to ongoing market volatility and evolving macroeconomic conditions, the current level of uncertainty limits our ability to provide updated unit projections with the necessary level of precision and reliability, therefore, we have chosen not to provide units guidance at this time. During the third quarter of 2025, we introduced temporary pricing incentives on our S2 models. Due to the positive consumer reaction to this promotion and impact on volumes, we have extended this promotion through December 15, 2025. Additionally, during the third quarter of 2025, we determined not to move forward with a proposed work statement under the Joint Development Agreement with Harley-Davidson, Inc. As a result of the foregoing, we are updating our previously issued guidance related to Operating Loss to $72-$77 million from $59-$69 million for the full year 2025.
Webcast
The public is invited to attend the Harley-Davidson, Inc. audio webcast from 8-9 a.m. CT where LiveWire's financial results, developments in the business and updates to the Company's outlook will be shared. The webcast login can be accessed at https://investor.livewire.com/news-events-1/events/default.aspx. The audio replay will be available by approximately 10:00 a.m. CT.
About LiveWire
LiveWire has a dedicated focus on the electric motorcycle sector. LiveWire's majority shareholder is Harley-Davidson, Inc. LiveWire comes from the lineage of Harley-Davidson and is capitalizing on a decade of its learnings in the EV sector. With a dedicated focus on EV, LiveWire plans to develop the technology of the future and to invest in the capabilities needed to lead the transformation of motorcycling. www.livewire.com
Cautionary Note Regarding Forward-Looking Statements
The Company intends that certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this press release, including statements concerning possible or assumed future actions, business strategies, events or results of operations, and any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Words or phrases such as "anticipate," "believe," "continue, " "could," "estimate," "expect," "intend," "is on track," "may," "might, " "objective," "ongoing," "plan," "potential," "predict," "project," "remain committed," "should," "target," "will" and "would," or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. These forward-looking statements speak only as of the date of this press release and are subject to a number of important factors that could cause actual results to differ materially from those in the forward-looking statements, including the risks, uncertainties and assumptions described in prior public filings titled "Risk Factors." These forward-looking statements are subject to numerous risks, including, without limitation, the following: our history
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