Despite a surge to 234 units produced in the quarter, LiveWire closed 2024 with less total units than 2023 612 vs. 660. Net loss for the group “improved” to -93.9 million for the year. “In 2024, we undertook several initiatives to navigate the market dynamics and turned challenges into opportunities to reposition the business for 2025,” claims Karim Donnez, CEO, LiveWire.
“We now expect to reduce our cash burn by 40% or more in 2025 compared to 2024. The Company plans to continue establishing its leadership in the EV space,” he notes. However, that 236-unit figure in Q4 was 54% lower than the comparable Q4 2023 total of 514 units. Other “wins” for Q4 included:
• Unit sales of 236, a 138% increase over third quarter 2024
• Consolidated operating loss decreased by $8.5 million from 2023 driven by a decrease in consolidated selling, administrative and engineering expense
• Aligned the Company’s go-to-market strategy with Europe moving to a wholesale model and entered Spain and Italy markets
Bottom line: LiveWire’s consolidated net loss was $93.9 million for the year ended 2024 compared to $109.6 million for the year ended 2023. This decrease of $15.7 million was driven by a decrease in selling, administrative and engineering expense of $12.6 million resulting from the completion of development work on the S2 platform in the prior year, and initiatives taken during the year around streamlining of headcount, offset by a decrease in revenue. There was also an increase in non-operating income of $14.8 million related to the decrease in fair value of the outstanding warrants as of December 31, 2024, offset by a decrease of $4.8 million in interest income as compared to prior year.
The Company’s consolidated net loss was $22.8 million for the fourth quarter 2024 as compared to $33.1 million in the same period prior year driven by the segment results noted below, an increase of $3.3 million of non-operating income related to the decrease in fair value of the outstanding warrants as of December 31, 2024, offset by a decrease of $1.5 million in interest income as compared to prior year.
“With our world-class products, first-class team, and best-in-the-industry retail partners, we will continue to relentlessly improve the fundamentals of the business and position ourselves for long-term success,” concludes Karim Donnez.
