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LIVEWIRE REPORTS Q2 FINANCIALS

  • Dealernews
  • Aug 02, 2023

 

“Throughout Q2, we saw high anticipation for Del Mar, the first bike on the S2 platform, from both riders and our retail partners,” said new LiveWire skipper Karim Donnez, who came over from BRP Marine to succeed Jochen Zeitz as CEO for the eBike brand this quarter. “With the first bikes rolling off the line in the third quarter, we’re looking forward to getting Del Mar to more and more riders throughout the back half of 2023.”

That being said, LiveWire reported consolidated revenue down 44% for the quarter. Electric Motorcycle sales were off 85%, while its subsidiary STACYC was soft in Q2, down 15%. LiveWire Group, Inc. consolidated net loss was $40.7 million for the second quarter as compared to $19.6 million in the same period prior year driven by the below segment results, planned product development investment, as well as a $11.4 million non-operating mark-to-market expense related to the increase in fair value of the outstanding warrants as of the end of the quarter.

For the full year 2023, the Company is revising its unit sales guidance and now expects Electric Motorcycle sales to grow from 600 units to 1,000. Some of this growth will come from exports to Europe, according to Donnez. 

“During the quarter, we also saw keen interest in the LiveWire brand in the European market in response to our launch events in Berlin, Paris, London and Amsterdam,” said Donnez.  LiveWire switched on its network of 35 dealers in France, the UK, Germany and the Netherlands in support of its hybrid go-to-market model. LiveWire ONE became available in the European market in late June, while preparing to ship the Del Mar Launch Edition later this year.

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