TLDR
- LVWR jumped 58.44% in after-hours trading to $1.22 after Q2 results
- Consolidated revenues increased 55% year over year to $9.1 million
- Net loss narrowed slightly to $18.2 million from $18.8 million
- LiveWire completed the acquisition of Dust Motorcycles in May
- The stock closed the regular session at $0.77, down 15.29% before rising after hours
LiveWire Group stock was back on the rise after hours on Thursday, jumping 58.44% to $1.22 after the electric motorcycle maker posted second-quarter results that showed a 55% jump in consolidated revenue.
In fact, the stock closed the regular session down 15.29% at $0.77, making the after-hours move even more dramatic.
Revenue was $9.1 million for the quarter ended June 30, up from $5.9 million in the same period last year. These gains were driven by higher unit sales in both LiveWire business segments.
LiveWire operates two categories: electric motorcycles and STACYC, which sells electric balance bikes for kids.
The net loss narrowed to $18.2 million from $18.8 million a year ago. Adjusted EBITDA losses also improved slightly, reaching $15.1 million compared to $15.7 million in the same period of the previous year.
CEO Karim Doniz described this quarter as “an important step forward in executing our strategic growth plan.”
Acquire dust and launch S4 Honcho
In May, LiveWire completed its acquisition of Dust Motorcycles, a manufacturer of off-road electric motorcycles. The deal expands LiveWire’s footprint in the growing off-road segment.
The company has also begun production on the new S4 Honcho platform, a range of lightweight 125cc mini electric motorcycles. The range includes the S4 Honcho Trail and S4 Honcho Street models, which aim to offer an accessible price.
LiveWire said its full-year guidance remains unchanged following second-quarter results.
Stock context and analyst sentiment
Despite the after-hours explosion, the stock remains deep in the red over the past year, down 82.85% over the past 12 months. It has a 52-week high of $6.44, which is a long way from where it is trading now.
The stock’s market cap is around $157 million to $185 million depending on the session. It is trading well below its 50-day moving average of $1.13 and its 200-day moving average of $1.76.
Weiss Ratings reiterated a “Sell (e+)” rating on July 17. MarketBeat’s average analyst rating also falls at Sell.
Institutional interest has been rising, with Vanguard raising its position 109.4% and Geode Capital Management raising its stake 102% in recent quarters.
Harley davidson It remains the majority and controlling interest in LiveWire.
The company reported EPS of -$0.09 for the quarter, with a negative net margin of 263.77% and a negative return on equity of 137.09%.
The RSI for LVWR stands at 40.37, and the stock remains close to its 52-week low of $0.65.
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