LiveWire Withdraws 2026 Loss Guidance After Restructuring Committee

The Tip Desk · October 29, 2026 · 3 min read

Third-quarter revenue rose 38% to $7.9 million as the company formed a special restructuring committee and dropped its $70 million to $80 million full-year operating-loss outlook.

LiveWire Group, Inc. (LVWR) withdrew previously issued full-year 2026 guidance of an operating loss between $70 million and $80 million after its board formed a special restructuring committee, as third-quarter revenue growth slowed and the company raised substantial doubt about its ability to continue as a going concern.

The electric-vehicle maker reported consolidated revenue of $7.9 million in the third quarter of 2026, up 38% from a year earlier, after 55% growth in the second quarter and 86% in the first. Unit sales were 7,233, up 21% from 5,989 a year earlier. Revenue was down from $9.1 million in the second quarter.

Management said conditions and events raise substantial doubt about the company’s ability to continue as a going concern within one year after the date the September 30, 2026 financial statements are issued, citing recurring operating losses, negative cash flows from operations, limited liquidity and anticipated future funding requirements. Cash and cash equivalents were $39.9 million at September 30, 2026, down from $82.8 million at December 31, 2025.

On October 22, 2026, the board formed a special restructuring committee and delegated authority to review, evaluate and negotiate debt or equity financing, sales, recapitalizations and other strategic transactions, citing a debt maturity in December 2027. The committee appointed Roy Gallagher as Chief Restructuring Officer. The company said it continues to evaluate comprehensive financing and other strategic alternatives, with no assurance those efforts will succeed.

Consolidated operating loss was $17.5 million in the third quarter, down 7% from $18.8 million a year earlier. Net loss was $18.6 million, down 4% from $19.4 million. Adjusted EBITDA was negative $14.7 million, an 11% improvement from negative $16.5 million. The company said the net-loss comparison reflected segment results, a $0.9 million increase in income tax benefit, offset by a $1.5 million increase in related-party interest expense.

Electric Motorcycles, the company’s dedicated electric-motorcycle segment, posted revenue of $2.7 million, up 178% from $1.0 million a year earlier, after 236% growth in the first quarter. Motorcycle units were 241, up 31% from 184. The company said third-quarter 2025 motorcycle revenue had been reduced by incentives implemented to drive demand. Operating loss in the segment improved to $17.0 million from $18.4 million, with a $2.6 million gross-margin improvement offset by a $1.2 million increase in selling, administrative and engineering expense.

STACYC, which sells electric balance bikes for kids, electric bikes and related products, generated $5.2 million of revenue, up 9% from $4.7 million, matching the year-over-year increase in the second quarter. Units were 6,992, up 20% from 5,805. The segment’s operating loss increased to $0.6 million from $0.4 million a year earlier, after breakeven operating income in the second quarter. The company attributed the higher loss primarily to freight costs.

Year-to-date through September 30, 2026, net cash used by operating activities was $38.3 million, a 16% reduction from $45.6 million a year earlier, and free cash flow was negative $40.5 million, versus negative $48.2 million a year earlier. Market share in the U.S. electric motorcycle 50+ kilowatt on-road EV segment was 80% through September 30, up from 76% through June 30.

First units of the S4 Honcho Trail were delivered to the U.S. market in August, with S4 Honcho Street delivered to dealers in October. The company said first Honcho Trail units are expected in Europe in October and Honcho Street in November. Additional liquidity and going-concern detail is expected in the Form 10-Q for the quarter ended September 30, 2026, due on or before November 9, 2026.