LiveWire Group Inc.
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
We found at least one documented issue that threatens the company itself — regardless of how the stock is currently valued.
Why this colour
Buying today is not a bet on a market share but on a window of time: that the electric motorcycle market grows faster than LiveWire runs out of equity — $11.9 million as of June 30, 2026, against company guidance of a $70 million to $80 million operating loss for 2026 and a $75 million repayment due December 15, 2027. And that Harley-Davidson, holding 88.4 percent, keeps funding it even though nothing obliges the parent to. If you wait, check three lines in every quarterly report: equity, cash, and motorcycle units sold. The extremely tight float of roughly 12.6 million shares makes the price additionally independent of the business — that is the reason for caution. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
LiveWire is the percentage-without-a-denominator trap in its purest form: the reported 76 percent share of the U.S. market for electric motorcycles above 50 kilowatts is documented — but it rests on 653 motorcycles sold in 2025 and 358 in the first half of 2026, while the larger business is kids' balance bikes. The cost turnaround is genuinely working (net loss reduced from $109.6 million to $75.1 million, second quarter 2026 revenue up 55 percent), yet the cushion is melting faster: $11.9 million of equity as of June 30, 2026 against $76.8 million of secured debt owed to majority owner Harley-Davidson, which holds 88.40 percent of the shares and must approve any equity raise. Not investment advice.
Cost turnaround
The turnaround delivers measurably: net loss down from $109.6 million (2023) to $93.9 million (2024) and $75.1 million (2025), total operating costs from $154.0 million to $101.2 million. Free cash outflow in the first half of 2026 was $27.7 million against $34.4 million a year earlier.
Scale of the business
The reported 76 percent market share (year-to-date through June 30, 2026, U.S. segment of 50 kilowatts and above) rests on 653 motorcycles sold in 2025 and 358 in the first half of 2026. Motorcycle segment revenue has fallen from $11.5 million in 2023 to $6.1 million; the larger business is kids' balance bikes at $19.6 million.
Balance sheet and liquidity
Shareholders' equity fell from $115.1 million (Dec 31, 2024) to $46.0 million (Dec 31, 2025) and $11.9 million (June 30, 2026); cash from $82.8 million to $52.9 million. Against that stand $76.8 million of debt secured on substantially all assets and maturing December 15, 2027 — with company guidance of a $70 million to $80 million operating loss for 2026.
Dependence on the majority owner
Harley-Davidson holds 88.40 percent of the shares through a subsidiary (March 23, 2026) and is simultaneously lender, contract manufacturer and service provider — and must approve every equity raise under the at-the-market program. The first $10.0 million of net proceeds flows back to that same owner as a mandatory prepayment.
Product push
The cheaper S4 Honcho entered production in the second quarter of 2026, and the Dust Motorcycles acquisition (May 18, 2026) opens the off-road segment. Unit sales are picking up (Q2 2026: 267 against 55). The acquisition, however, is paid largely in the company's own shares, with an earn-out of up to $11.25 million.
Price formation and float
The float is roughly 12.6 million of 204.8 million shares (as of July 25, 2026). On July 24, 2026, 103.3 million shares traded in a single day — many times the float. In a stock this tight, the price can diverge far from business performance, in both directions.
Worth Noting
LVWR reached the research list through our in-house Reddit hype scanner: 5 mentions in 24 hours and rank 81 among the most-discussed U.S. stocks, after the ticker had not been listed at all 24 hours earlier (ApeWisdom data, as of July 25, 2026). In the fundamental scanners the stock sits, as of the same date, in "Going Concern (distress proxy)", "Professionals 80%" and "Below the 50- and 200-day average". Scanner memberships are snapshots and change daily.
An important qualification on the distress filter: the Form 10-K for 2025 contains no going-concern warning from the auditor. The Form 10-Q for March 31, 2026 expressly states that existing resources are sufficient for at least twelve months — and that additional capital will be required. Both statements sit in the same paragraph.
All valuation figures are dated and meant to be evergreen: market capitalization of roughly $299 million as of the July 24, 2026 trading day, trailing four-quarter revenue of $31.3 million. Daily prices are not a reason to buy. Not to be confused: LiveWire Group, Inc. (LVWR) is a separate listed company and is not identical to the LiveWire reportable segment inside Harley-Davidson, whose figures under U.S. GAAP may differ.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at LVWR since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 0.648 $ to 6.20 $ · Last price: 1.40 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Auto Manufacturers
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| LiveWire Group Inc. LVWR | 0.3 | – | -18.3 | -10.9 | -197.6 | -3.6 | -73.5 |
| Tesla Inc TSLA | 1,459.8 | 328.4 | 117.7 | 18.9 | 4.2 | -2.9 | -14.0 |
| Toyota Motor Corporation TM | 229.6 | 8.7 | 7.8 | 16.8 | 7.9 | 5.5 | -0.3 |
| BYD Co Ltd ADR BYDDY | 93.5 | 23.3 | 6.1 | 17.9 | 7.5 | -0.6 | -29.4 |
| General Motors Company GM | 78.4 | 31.5 | 10.2 | 10.2 | 9.4 | -1.3 | 48.8 |
| Ferrari NV RACE | 72.8 | 38.7 | 22.7 | 51.6 | 31.1 | 7.0 | -13.2 |
| Ford Motor Company F | 54.6 | – | 53.3 | 7.1 | 5.7 | 1.2 | 22.2 |
| Honda Motor Co Ltd HMC | 42.2 | – | 4.7 | 17.5 | 8.8 | 0.5 | -0.7 |
| Rivian Automotive Inc RIVN | 20.8 | – | -2.0 | 7.5 | -63.8 | 8.4 | 9.1 |
| Median of companies shown | 72.8 | 31.5 | 7.8 | 16.8 | 7.5 | 0.5 | -0.7 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2019 | 20 | -58 | -57 | -0.35 | -69 | 22 | 45 |
| 2020 | 31 | -77 | -78 | -0.38 | -54 | 2 | 52 |
| 2021 | 36 | -68 | -68 | -0.42 | -75 | 20 | 62 |
| 2022 | 47 | -85 | -79 | -0.46 | -90 | 307 | 352 |
| 2023 | 38 | -188 | -110 | -0.54 | -83 | 206 | 266 |
| 2024 | 27 | -110 | -94 | -0.46 | -94 | 115 | 148 |
| 2025 | 26 | -75 | -75 | -0.37 | -54 | 46 | 146 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q3 | -0.11 | -1.50 | 4 | -45.40 | -510.60 | -23 | -25 |
| 2024: Q4 | -0.11 | 25.30 | 11 | -28.70 | -211.70 | -22 | -23 |
| 2025: Q1 | -0.09 | -5.20 | 3 | -44.90 | -702.60 | -18 | -18 |
| 2025: Q2 | -0.09 | 30.80 | 6 | -8.90 | -320.60 | -15 | -16 |
| 2025: Q3 | -0.10 | 14.80 | 6 | 28.30 | -340.20 | -13 | -14 |
| 2025: Q4 | -0.09 | 22.90 | 11 | 5.50 | -155.20 | -8 | -9 |
| 2026: Q1 | -0.09 | 6.40 | 5 | 86.50 | -354.40 | -13 | -14 |
| 2026: Q2 | -0.09 | 0.00 | 9 | 55.20 | -199.80 | -13 | -14 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 7 of our scanner strategies — each hit links to the scanner.
Quality & Balance Sheet
Breakout & Setup
Research
Risk & Weakness
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Valuation
What is priced in?
Free cash flow over the past twelve months is negative, which rules out a serious reverse calculation. Any growth rate only makes a negative cash flow more negative; no present value comes out of it. What the price reflects here is therefore not a stream of cash flows, but the expectation that there will be one at all.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Kein KI-Geschaeftsmodell und kein belegter KI-Einsatz: In den Filings 2025/2026 kommt „artificial intelligence“ nur einmal vor, und zwar als Datenschutz-Risikohinweis; die Fahrzeugtechnik ist vernetzte Telematik (Cloud-Anbindung, Firmware-Updates ueber Funk), keine KI.
View the full file — quotes, sources, reviewed filings
Filings Reviewed: 10-K 2026-02-20 · 10-Q 2026-05-06 · 8-K 2026-07-23 · 8-K 2026-05-22 · 8-K 2026-02-10 · DEF 14A 2026-04-09
Rated on July 25, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years -18.2%
- More than 10% revenue growth is expected for the coming year no data
- Share count grows by less than 3% a year 5.8%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") -227.0%
- Gross margin at 40% or higher and without meaningful erosion -17.3%
- Goodwill from acquisitions does not grow faster than revenue 5.7%
- Net debt below twice EBITDA 7 m net cash
- Operating cash flow covers the profits of the last three years 48 m
- Return on capital at 15% or higher, or up versus two years ago -61.0%
- Insiders hold at least 10% or are net buyers 94.3%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
1/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 4.1%
- Exp. sales growth 3Y > 5% –
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% –
- Net debt < 4x EBIT –
- EBIT positive, 10Y straight 0
- Max. EBIT decline < 50% –
- Return on equity > 15% -203.6%
- ROCE > 15% -61.0%
- Expected return > 10% –
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Jul 31, 2026 | Cornog William L | Director | Sell | 216 | 2.25 | 486 |
| Jul 31, 2026 | Gruner Kjell | Director | Sell | 94,091 | 2.11 | 198,532 |
| Jul 30, 2026 | Gruner Kjell | Director | Sell | 7,071 | 1.98 | 14,001 |
| Jul 29, 2026 | Nienhuis Jeremiah | Head of Strat. & Product Ops. | Sell | 10,732 | 2.38 | 25,498 |
| Jul 29, 2026 | Donnez Karim | Chief Executive Officer | Sell | 230,557 | 2.33 | 537,129 |
The company
About the Company
LiveWire Group, Inc. manufactures and sells electric motorcycles in the United States, Austria, and internationally. The company operates in two segments, Electric Motorcycles and STACYC. It designs and sells electric motorcycles and parts, accessories, and apparel; electric balance bikes for kids; and adult pedal assist electric bikes. The company sells its products to wholesale, independent dealers and retailers, and independent distributors, as well as direct to consumers online. It offers its products under the LiveWire brand name. The company was founded in 2010 and is based in Milwaukee, Wisconsin. LiveWire Group, Inc. is a subsidiary of Harley-Davidson, Inc.
- Employees
- 151
- Headquarters
- Milwaukee, WI
- Address
- 3700 West Juneau Avenue, 53208 Milwaukee, United States
- Phone
- 650 447 8424
- Website
- livewire.com
- IPO Date
- 09/26/2022
- ISIN
- US53838J1051
- Stock Split
- 1:1 on 09/27/2022
Management
| Name | Title | Birth Year |
|---|---|---|
| Jonathan R. Root | CFO, President & Chairman | 1974 |
| Karim Donnez | Chief Executive Officer | 1977 |
| Allen Gerrard | General Counsel & Board Secretary | 1973 |
| Jennifer Hoover | Head Accounting Officer | 1978 |
| Jon Bekefy | Head of Global Sales & Marketing | 1977 |
| Erica Case | Head of Human Resources | – |
| Jeremy Nienhuis | Head of Planning, Supply & Demand | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 09/03/2026 LiveWire Group, Inc. (LVWR): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers SEC ↗
- 07/29/2026 LiveWire Group, Inc. (LVWR): Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing; Regulation FD Disclosure; Financial Statements and Exhibits SEC ↗
- 07/23/2026 LiveWire Group, Inc. (LVWR): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.