LiveWire Group, Inc. (LVWR) FY2025 10-K Annual Report
LiveWire Group, Inc. (LVWR) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 20, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
LiveWire Group, Inc. FY2025 10-K Analysis
Business Overview
- • Core business model: Designing, manufacturing, and selling electric motorcycles and electric balance bikes targeting youth, via a two-segment approach: Electric Motorcycles and STACYC
- • New product introduction: Launched adult pedal-assist electric bike in STACYC segment March 2025; planning two new 125 cc-equivalent mini-motos, S4 Honcho™, for Electric Motorcycles in spring 2026
- • Strategic shift: Extended manufacturing exclusivity with Harley-Davidson from 5 to 6 years; enhanced service and contract manufacturing agreements with H-D to support outsourcing and scaling
- • Notable quantitative metric: 2025 Electric Motorcycles revenue declined to $6.1M from $8.4M in 2024; STACYC segment revenue grew to $19.6M from $18.3M in 2024, reflecting differing segment trajectories
- • Distinctive fact: LiveWire operates under multiple long-term, royalty-free IP and trademark license agreements with Harley-Davidson established in September 2022, shaping ongoing collaboration and cost structure
Management Discussion & Analysis
- • Revenue $25.7M in 2025 vs $26.6M in 2024, Electric Motorcycles revenue down 27.6% to $6.1M, STACYC up 7.4% to $19.6M
- • Operating loss narrowed 31.6% to $75.5M, Electric Motorcycles loss improved 30.0% to $73.8M, STACYC loss improved 66.0% to $1.7M
- • Best performing segment STACYC: revenue $19.6M (+7.4%), operating loss $1.7M down from $4.9M, worst Electric Motorcycles segment: revenue $6.1M (-27.6%), operating loss $73.8M
- • Cash and cash equivalents increased to $82.8M from $64.4M; $75M Term Loan drawn in Dec 2025; $2.2M raised via ATM stock sales; no dividends or buybacks disclosed
- • 2026 outlook: launch two new S4 Honcho mini-moto models, continued network expansion, cost savings, focus on profitable product innovation and STACYC growth
Risk Factors
- • Governance risk: Interim CISO leadership after Harley-Davidson’s CISO left Oct 2025 until new hire
- • Operational risk: Reliance on Harley-Davidson’s Chief Digital and Operations Officer as acting CISO until Dec 31, 2025
- • Cybersecurity risk: IT Security Manager with 20+ years experience managing security and regulatory compliance leading incident response
- • Oversight risk: Audit and Finance Committee reviews cybersecurity risks and reports at least annually to Board
- • No specific regulatory, geopolitical, competitive, financial, or supply chain risks detailed in text
LiveWire Group, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$26M
▼ -3.6% YoY
Net Income
-$75M
▲ +20.0% YoY
Operating Margin
-294.0%
▲ +12033bp YoY
Net Margin
-292.6%
▲ +6007bp YoY
ROE
-163.2%
▼ -8160bp YoY
Total Assets
$146M
▼ -1.0% YoY
EPS (Diluted)
$-0.37
▲ +19.6% YoY
Operating Cash Flow
-$54M
▲ +42.9% YoY
Source: XBRL data from LiveWire Group, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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