According to Harley-Davidson, LiveWire ended 2025 as the #1 U.S. electric motorcycle in the on-road motorcycle market in terms of retail sales. Noting that Electric Motorcycle unit sales increased 61% over fourth quarter 2024, and revenue increasing 10% LiveWire released their 4th quarter financials on February 10th. However Q4 consolidated operating loss was $7.5 million, or 30% compared to Q4 2024.
“We saw continued momentum in the fourth quarter, ending 2025 in the number one position in U.S. electric motorcycle on-road retail sales and delivered another company record-setting quarter,” claims LiveWire CEO Karim Donnez. “Consolidated revenue units increased year over year with over 22,000 units sold, a 16% increase over 2024, coupled with a prime focus on improving gross profit in the fourth quarter of 2025 along with a 44 percent improvement in free cash flow in 2025.”
Take that “consolidated units” statement with a grain of salt: LiveWire’s full year unit sales in 2025 were 653 units, up 7% over 612 in units in 2024, the balance is STACYC unit sales. The Company’s consolidated net loss was $75.1 million for the year ended 2025 as compared to $93.9 million in prior year driven by the segment results noted below, offset by a decrease of $11.1 million of non-operating income related to the change in fair value of the outstanding warrants as of December 31, 2025 and a decrease of $4.5 million in interest income as compared to prior year.
Electric Motorcycles unit sales increased by 7% for the full year 2025 compared to the prior year. This increase in volume was offset by increased incentives implemented to drive demand in the market, resulting in a decrease in revenue of $2.3 million compared to the prior year. Operating loss decreased by $31.7 million primarily driven by a $25.0 million reduction in selling, administrative and engineering expense from cost reduction activities, including decreases in people costs and other spending, compared to the prior year.
“We will look to continue this positive momentum into 2026 as we focus on enhancing profitability and launching the S4 Honcho™ products,” concludes Donnez. For the full year 2026, The Motor Company expects LiveWire Group operating loss of $70 to $80 million.
