LVWR on NYSE

LiveWire

Logo: LiveWire's web site, Non-free logo, via Wikipedia⁴

American electric motorcycle manufacturer

LiveWire is an American electric motorcycle manufacturer. It was initially launched as a dedicated electric vehicle (EV) division for Harley Davidson in July 2021.³ From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

2021Founded¹

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TickerLVWR on NYSE¹
IndustryMotorcycles, Bicycles & Parts¹
HeadquartersMilwaukee¹
Websitewww.livewire.com

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LiveWire is an American electric motorcycle manufacturer. It was initially launched as a dedicated electric vehicle (EV) division for Harley Davidson in July 2021. The company was spun-off from its parent and went public on September 27, 2022, via merger with a special-purpose acquisition company (SPAC). It was the first publicly traded electric motorcycle company in the United States.³

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-294.0%Operating margin⁷

-292.6%Net margin⁷

-3.6%Revenue growth, 2025⁷

-163.2%Return on equity⁷

1.61×Debt to equity⁷

-$57.4MFree cash flow⁷

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Stacyc brought in 62% of the revenue LiveWire broke down this way in fiscal 2025.

Stacyc$19.6M⁷62%up 7% from 2024
Electric Motorcycle$6.1M⁷19%down 28% from 2024
Electronic Motor Cycle$6.1M⁷19%down 28% from 2024

Business segments by year

Business segments	2023	2024	2025
Stacyc	$26.5M	$18.3M	$19.6M
Electric Motorcycle	$11.5M	$8.4M	$6.1M
Electronic Motor Cycle	$11.5M	$8.4M	$6.1M

Regions

United States brought in 74% of the revenue LiveWire broke down this way in fiscal 2025.

United States$19.1M⁷74%down 11% from 2024
Rest of the world$6.2M⁷24%up 48% from 2024
AT$457.0K⁷2%down 57% from 2024

Regions by year

Regions	2023	2024	2025
United States	$30.5M	$21.4M	$19.1M
Rest of the world	$3.0M	$4.2M	$6.2M
AT	$4.6M	$1.1M	$457.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

Cost of revenueResearch and developmentSelling, general and admin

Cost of revenue24¢$30.1M
Research and development19¢$23.9M
Selling, general and admin57¢$71.1M
Income tax0¢$189.0K

Out of $25.7M in revenue.⁷ The company lost money this year.

Financial statements

Revenue⁸⁹¹⁰⁷$25.7M in 2025−17% since 2020

Operating income⁸¹¹¹⁰⁷-$75.5M in 2025−2% since 2020

Net income⁸¹¹¹⁰⁷-$75.1M in 2025−3% since 2020

Every line of the income statement in the latest annual report, as filed.⁷

Period ending	2025-12-31	2024-12-31	2023-12-31
Revenue, net	$25.7M	$26.6M	$38.0M
Cost of goods sold (including related party amounts of $10,926, $19,533, and $23,433 in 2025, 2024, and 2023, respectively, as described in Note 15)	$30.1M	$39.4M	$43.8M
Selling, administrative and engineering expense (including related party amounts of $5,234, $10,164, and $14,993 in 2025, 2024, and 2023, respectively, as described in Note 15)	$71.1M	$97.6M	$110.2M
Total operating costs and expenses	$101.2M	$137.0M	$154.0M
Operating (loss) income	-$75.5M	-$110.4M	-$116.0M
Interest expense, related party	$255.0K	$0	$0
Interest income	$1.2M	$5.7M	$10.5M
Change in fair value of warrant liabilities	-$352.0K	$10.8M	-$4.0M
Loss before income taxes	-$74.9M	-$93.9M	-$109.5M
Income tax provision	$189.0K	$43.0K	$78.0K
Net loss	-$75.1M	-$93.9M	-$109.5M
Foreign currency translation adjustments	-$29.0K	-$5.0K	$17.0K
Comprehensive loss	-$75.1M	-$93.9M	-$109.5M
Net loss per share, basic (in dollars per share)	-$0.37	-$0.46	-$0.54
Net loss per share, diluted (in dollars per share)	-$0.37	-$0.46	-$0.54

Total assets¹¹¹⁰⁷$146.4M in 2025−64% since 2020

Total liabilities¹¹⁹¹⁰⁷$100.4M in 2025+67% since 2020

Shareholders’ equity⁸¹¹⁷$46.0M in 2025+111% since 2019

Cash⁸¹¹⁹¹⁰⁷$82.8M in 2025+7754% since 2019

Long-term debt⁷$74.2M in 2025

Every line of the balance sheet in the latest annual report, as filed.⁷

Period ending	2025-12-31	2024-12-31	2023-12-31
Cash and cash equivalents	$82.8M	$64.4M
Inventories, net	$15.3M	$26.9M
Other current assets	$2.9M	$2.7M
Total current assets	$104.9M	$98.4M
Property, plant and equipment, net	$27.6M	$34.0M
Goodwill	$8.3M	$8.3M	$8.3M
Deferred tax assets	$6.0K	$7.0K
Lease assets	$823.0K	$765.0K
Intangible assets, net	$804.0K	$1.1M
Other long-term assets	$4.0M	$5.4M
Total assets	$146.4M	$148.0M	$266.1M
Accrued liabilities	$12.4M	$18.0M
Current portion of lease liabilities	$496.0K	$394.0K
Current portion of term loan - related party, net	$800.0K	$0
Total current liabilities	$22.7M	$29.9M
Long-term portion of lease liabilities	$246.0K	$405.0K
Deferred tax liabilities	$149.0K	$118.0K
Long-term portion of term loan - related party, net	$74.2M	$0
Warrant liabilities	$1.9M	$1.5M
Other long-term liabilities	$1.2M	$919.0K
Total liabilities	$100.4M	$32.8M
Preferred Stock, $0.0001 par value; 0 shares authorized; no shares issued and outstanding as of December 31, 2025 and 2024	$0	$0
Common Stock, $0.0001 par value; 800,000 shares authorized; 204,925 shares issued and 204,309 shares outstanding as of December 31, 2025 and 203,787 shares issued and 203,423 shares outstanding as of December 31, 2024	$20.0K	$20.0K
Treasury Stock, at cost: December 31, 2025 - 616 shares, December 31, 2024 - 364 shares	-$4.4M	-$3.4M
Additional paid-in-capital	$351.5M	$344.4M
Accumulated deficit	-$301.0M	-$225.9M
Accumulated other comprehensive (loss) income	-$17.0K	$12.0K
Total shareholders' equity	$46.0M	$115.1M	$205.9M
Total liabilities and shareholders' equity	$146.4M	$148.0M
Preferred stock, stated value per share (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized (in shares)	0 shares	0 shares
Preferred stock, shares issued (in shares)	0 shares	0 shares
Preferred stock, shares outstanding (in shares)	0 shares	0 shares
Common stock, stated value per share (in dollars per share)	$0.00	$0.00
Common stock, shares authorized (in shares)	800.0M shares	800.0M shares
Common stock, shares issued (in shares)	204.9M shares	203.8M shares
Common stock, share outstanding (in shares)	204.3M shares	203.4M shares
Treasury stock (in shares)	616.0K shares	364.0K shares

Cash from operations⁸¹¹¹⁰⁷-$53.5M in 2025−0% since 2020

Capital spending⁸⁹¹⁰⁷$3.8M in 2025+18% since 2020

Free cash flow⁸¹¹¹⁰⁷-$57.4M in 2025+1% since 2020

Share buybacks⁹¹⁰⁷$1.0M in 2025

Every line of the cash flow in the latest annual report, as filed.⁷

Period ending	2025-12-31	2024-12-31	2023-12-31
Net loss	-$75.1M	-$93.9M	-$109.5M
Depreciation and amortization	$10.1M	$10.0M	$5.8M
Change in fair value of warrant liabilities	$352.0K	-$10.8M	$4.0M
Stock compensation expense	$4.9M	$4.6M	$8.9M
Provision for expected credit losses	$124.0K	$230.0K	$53.0K
Deferred income taxes	$32.0K	$22.0K	$74.0K
Inventory write-down	$3.0M	$5.8M	$2.7M
Cloud computing arrangements development costs	$0	-$45.0K	-$1.3M
Interest expense, related party	$255.0K	$0	$0
Other, net	-$75.0K	-$244.0K	-$117.0K
Accounts receivable, net	$535.0K	$192.0K	-$2.0M
Accounts receivable from related party	-$186.0K	$3.0M	-$2.9M
Inventories	$8.8M	-$569.0K	-$5.6M
Other current assets	$629.0K	$540.0K	$1.6M
Accounts payable and accrued liabilities	-$4.0M	-$2.1M	$160.0K
Accounts payable to related party	-$3.0M	-$10.6M	$14.6M
Net cash used by operating activities	-$53.5M	-$93.9M	-$83.5M
Capital expenditures	-$3.8M	-$8.1M	-$13.5M
Net cash used by investing activities	-$3.8M	-$8.1M	-$13.5M
Borrowings under term loan - related party (Note 15)	$75.0M	$0	$0
Gross proceeds from the sale of common stock pursuant to the at-the-market public offering (Note 1)	$2.2M	$0	$0
Payment of offering costs from the at-the-market public offering (Note 1)	-$454.0K	$0	$0
Repurchase of common stock	-$1.0M	-$1.4M	-$2.0M
Proceeds received from exercise of warrants (Note 6)	$0	$0	$1.6M
Net cash provided (used) by financing activities	$75.7M	-$1.4M	-$412.0K
Net increase (decrease) in cash and cash equivalents	$18.3M	-$103.5M	-$97.3M
Effect of exchange rate changes on cash and cash equivalents	-$36.0K	-$96.0K	$0

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The story

The LiveWire electric motorcycle was first displayed to the media in June 2014, as part of Harley Davidson's Project LiveWire Experience, a traveling dealer demo. Prototypes were made available for public test rides at US Harley-Davidson dealerships later in 2014, then Europe and Canada in 2015.

In May 2021, Harley Davidson announced it was spinning LiveWire off as its own brand, including replacing the Harley Davidson logo on the motorcycles with the LiveWire logo. The first LiveWire branded motorcycle, named LiveWire ONE, was unveiled at the July 8 International Motorcycle Show in Sonoma, California. In December, Harley Davidson announced it was merging LiveWire with AEA-Bridges Impact Corp. (ABIC), a SPAC formed by private equity executives John Garcia and Michele Giddens, and it would begin publicly trading on the NYSE with ticker symbol "LVW". The deal was reportedly financed by $400 million of ABIC's cash held in trust, $100 million from Harley-Davidson, and $100 million from Taiwanese scooter manufacturer Kymco, through a private investment in public equity (PIPE) sale.

In the company's Q4 2021 earnings report, released in February 2022, it announced its next electric model, the LiveWire Del Mar, would be introduced in the second quarter.

From Wikipedia’s article on LiveWire (company), shared under CC BY-SA 4.0.⁵

Products and brands

electric motorcycle

Listed on Wikidata.¹

Products

LiveWire manufactures the LiveWire brand of motorcycles. Its first product is the LiveWire ONE electric motorcycle. Electric motorcycles are seen as easier and quieter to ride than gas-powered motorcycles, with no clutch or gearshift, or hot exhaust pipes.

The company reportedly planned to develop three more electric models with a goal of manufacturing 100,000 motorcycles by 2026.

The company's second model, the LiveWire Del Mar, was announced in February 2022, and was reportedly the first to use LiveWire's scalable, modular ARROW platform. It was intended to be lighter and less expensive than the LiveWire One, and debuted in the US market at $15,500 MSRP.

In November 2024, Livewire announced enhancing their existing partnership with Powersports company KYMCO to produce the Maxi-Scooter, utilizing the same ARROW powertrain as their current S2 product line. The LiveWire Maxi-Scooter is expected to debut in the first half of 2026.

Read the full text

Operations

The company operates dual headquarters at Milwaukee, Wisconsin and Mountain View, California. Its motorcycles are manufactured in York, Pennsylvania at Harley Davidson's plant. The company reportedly plans to continue to work with Harley Davidson dealers, and is also reportedly planning dedicated LiveWire showrooms, starting in California.

As of January 2022, Harley Davidson Chairman and CEO Jochen Zeitz was continuing to lead LiveWire as a separate corporate entity and was the acting CEO, while Ryan Morrissey was the company's president.

From Wikipedia’s article on LiveWire (company), shared under CC BY-SA 4.0.⁵

Subsidiaries and ownership

Parent company

Harley-Davidson

From Wikidata.¹

Timeline

2021Founded Founded¹

Recent filings

Sep 27, 20224 FORM 4 SUBMISSION
Sep 27, 20224 FORM 4 SUBMISSION
Sep 27, 20224 FORM 4 SUBMISSION
Sep 27, 20224 FORM 4 SUBMISSION
Sep 16, 20228-K
Aug 9, 202210-Q
May 12, 202210-Q
Mar 25, 202210-K
Dec 22, 20218-K/A
Dec 22, 20218-K/A
Dec 15, 20218-K
Dec 13, 20218-K
Dec 9, 202110-K/A
Dec 9, 202110-Q/A
Dec 6, 20218-K

Every filing from the last three years, summarized. The full record is on SEC EDGAR.²

Sources

The numbers on this page point here. Each one links to the record it came from.

1
WikidataLiveWire on Wikidata
2
SEC EDGARLiveWire filings on SEC EDGAR
3
WikipediaLiveWire on Wikipedia
4
Wikimedia CommonsLiveWire logo by LiveWire's web site, Non-free logo
5
WikipediaLiveWire on Wikipedia (revision used)
6
Wikimedia CommonsLiveWire photo by big-ashb, CC BY 2.0
7
SEC EDGARLiveWire 10-K for fiscal 2025
8
SEC EDGARLiveWire 10-K for fiscal 2020
9
SEC EDGARLiveWire 10-K for fiscal 2021
10
SEC EDGARLiveWire 10-K for fiscal 2022
11
SEC EDGARLiveWire 10-K for fiscal 2021
12
SEC EDGARLiveWire 10-Q for fiscal 2026
13
SEC EDGARLiveWire 10-Q for fiscal 2026