Quick Answer
Workhorse Group Inc. reported R&D Expense of $13.16 million for fiscal year 2025.
Workhorse Group Inc. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $13.16M | +2.1% |
| 2024 | $12.89M | -47.3% |
| 2023 | $24.47M | +5.4% |
| 2022 | $23.21M | +99.9% |
| 2021 | $11.61M | +26.9% |
| 2020 | $9.15M | +11.6% |
| 2019 | $8.20M | +10.9% |
| 2018 | $7.39M | -58.3% |
| 2017 | $17.74M | +188.6% |
| 2016 | $6.15M | +29.6% |
| 2015 | $4.74M | +37.9% |
| 2014 | $3.44M | +18.8% |
| 2013 | $2.89M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $1.08M | -53.4% | -13.5% |
| June 30, 2025 | $1.25M | -37.5% | -18.5% |
| March 31, 2025 | $1.53M | -56.7% | -33.9% |
| September 30, 2024 | $2.31M | -59.9% | +16.1% |
| June 30, 2024 | $1.99M | -60.6% | -43.5% |
| March 31, 2024 | $3.53M | -51.2% | -38.9% |
| September 30, 2023 | $5.77M | -5.8% | +14.1% |
| June 30, 2023 | $5.06M | +0.7% | -30.0% |
- Workhorse Group Inc. showed an increase of +2.1% in R&D Expense compared to the prior fiscal year.
- Over the 2013–2025 period, Workhorse Group Inc.’s r&d expense has grown by 355.1% (from $2.89 million to $13.16 million).
- The most recent figure is from Workhorse Group Inc.’s fiscal year 2025 report (Form 10-K), filed with the SEC on March 31, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
Last verified: