LiveWire reports Q2 EPS (20c), consensus (12c)

Reports Q2 revenue $7.03M vs $12.50M YoY. “Throughout Q2, we saw high anticipation for Del Mar the first bike on the S2 platform, from both riders and our retail partners. 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. 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 Karim Donnez, CEO, LiveWire. Electric Motorcycle revenue was down compared to the same quarter in the prior year due to lower unit sales of LiveWire ONE. In line with expectations, increased operating losses versus the second quarter of 2022 were the result of the planned product development investments to advance the electric vehicle systems and activities associated with launch preparation of the Del Mar and the development of LiveWire’s third motorcycle. Increased operating losses also incorporate the added planned costs of standing up a new organization as compared to the same quarter in the prior year.