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LIVEWIRE SIGNS 126 “RETAIL PARTNERS” GLOBALLY

  • Dealernews
  • Feb 16, 2024

 

 

The Q4 numbers are in and LiveWire CEO Karim Donnez claims the eBike OEM is on a charge. “LiveWire concluded 2023 with a strong Q4 performance, delivering on units and operating loss guidance for the full year." However it seems as if a net loss of nearly $110 million could be subject to interpretation.

"We saw the successful delivery to market of S2 Del Mar," notes Donnez. "The first model built on our S2 platform continues to generate a positive response from the media, our retailers and our riders. We expect 2024 to be a year highlighted by product innovation, market expansion, and continued cost improvements."

The company’s consolidated net loss was $109.6 million for the year ended 2023 compared to $78.9 million for the year ended 2022. The increase of $30.7 million was in line with expectations, driven by a provision for an obligation for excess inventory components, increased selling, administrative and engineering expense for product development costs relating to the S2 platform, delivery of Del Mar and additional costs to stand up the organization as a stand-alone public company. 

The Company also had an increase of $9.1 million of non-operating mark-to-market expense resulting from the increase in the fair value of warrant liabilities year-over-year which was offset by an increase of $9.3 million in interest income. All of these expenses resulted in 660 units being sold around the world via a network of "retail partners" according to LiveWire's SEC filings. 

2023 Highlights & Financial Results

• Launched Del Mar, the first model built with an all-new in-house developed battery pack, power electronics, motor, telematics and associated software.

• Unit sales of 660 electric motorcycles, up double digits versus prior year.

• Consolidated operating loss in line with our expectations driven by product development costs relating to S2 platform, delivery of Del Mar, a provision for an obligation for excess inventory components, and additional costs to stand up the organization as a stand-alone public company

• Ended the year with 126 retail partners globally

2024 Financial Outlook

For the full year 2024, LiveWire expects:

Electric Motorcycle sales of 1,000 to 1,500 revenue units

Operating Loss of $115 million to $125 million

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