Workhorse (WKHS) Research & Development (2010 - 2025)
Workhorse (WKHS) posted quarterly Research & Development of $9.3 million for Q4 2025, up 84.84% year-over-year from $5.1 million in Q4 2024, and up 767.37% quarter-over-quarter from $1.1 million in Q3 2025.
Workhorse (WKHS) Research & Development (2010 - 2025) Analysis & Trends
Workhorse (WKHS) has reported Research & Development for 16 consecutive years, with $9.3 million the latest figure, recorded in Q4 2025.
- In Q4 2025, Research & Development rose 84.84% year-over-year to $9.3 million; the TTM figure through Dec 2025 stood at $13.2 million (up 2.4% YoY), while the FY2025 annual figure was $13.2 million, up 2.4% from the prior year.
- Research & Development rose to $9.3 million in Q4 2025 per WKHS's latest filing, from $1.1 million in the prior quarter.
- Across five years, Research & Development topped out at $9.3 million in Q4 2025 and bottomed at $1.1 million in Q3 2025.
- Historically, Research & Development has averaged $4.3 million across 5 years, with a median of $3.9 million in 2021.
- Annual changes were most pronounced in 2022 — Research & Development surged 184.79% — and 2024, when it tumbled 60.62%.
- Workhorse's Research & Development stood at $2.8 million in 2021, then surged by 184.79% to $8.0 million in 2022, then dropped by 19.79% to $6.4 million in 2023, then decreased by 21.52% to $5.1 million in 2024, then surged by 84.84% to $9.3 million in 2025.
- Business Quant data shows WKHS's Research & Development at $9.3 million in Q4 2025, $1.1 million in Q3 2025, and $1.2 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Tesla | 1,062.42 Bn | 1,018.89 Bn | 4.75 Bn | 2.37 Bn |
| 2 | Toyota Motor | 248.02 Bn | 113.80 Bn | 12.27 Bn | - |
| 3 | Honda Motor | 127.13 Bn | 92.93 Bn | -34.06 Bn | 15.60 Bn |
| 4 | Ford Motor | 81.51 Bn | 50.18 Bn | 6.08 Bn | - |
| 5 | General Motors | 78.38 Bn | 53.66 Bn | 7.33 Bn | - |
| 6 | Li Auto | 26.25 Bn | 12.80 Bn | 262.11 Mn | -394.63 Mn |
| 7 | Xpeng | 23.13 Bn | 20.59 Bn | 388.90 Mn | -421.43 Mn |
| 8 | Rivian Automotive | 21.08 Bn | 15.77 Bn | 179.00 Mn | 466.00 Mn |
| 9 | Stellantis | 16.04 Bn | -25.41 Bn | 5.55 Bn | 1.52 Bn |
| 10 | Workhorse | 31.36 Mn | 18.46 Mn | 10.06 Mn | 9.35 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 9.35 Mn |
| Sep 30, 2025 | 1.08 Mn |
| Jun 30, 2025 | 1.25 Mn |
| Mar 31, 2025 | 1.53 Mn |
| Dec 31, 2024 | 5.06 Mn |
| Sep 30, 2024 | 2.31 Mn |
| Jun 30, 2024 | 1.99 Mn |
| Mar 31, 2024 | 3.53 Mn |
| Dec 31, 2023 | 6.44 Mn |
| Sep 30, 2023 | 5.77 Mn |
| Jun 30, 2023 | 5.06 Mn |
| Mar 31, 2023 | 7.22 Mn |
| Dec 31, 2022 | 8.03 Mn |
| Sep 30, 2022 | 6.13 Mn |
| Jun 30, 2022 | 5.03 Mn |
| Mar 31, 2022 | 4.01 Mn |
| Dec 31, 2021 | 2.82 Mn |
| Sep 30, 2021 | 2.80 Mn |
| Jun 30, 2021 | 2.12 Mn |
| Mar 31, 2021 | 3.86 Mn |