Show me Q1 2025 earnings call Q&A session for workhorse

Analysts Q&A Summary:

1) John Smith, Analyst:
Question: John inquired about Workhorse’s projected margins for the year and factors affecting it.
Response: Rick Dauk, CEO, mentioned that while they will not provide specific annual revenue guidance due to uncertainties, they have reduced monthly operating cash to below $3 million and lowered operating costs by $9.3 million year-over-year, indicating strong cost management contributing positively to margins.

2) Linda Wei, Investment Firm:
Question: Linda sought clarification on the market reception and feedback on the new W56 model.
Response: Rick detailed that the W56 is being well-received with positive feedback from early adopters, stating it’s one of the best EV step vans, and maintaining 96% uptime during peak operations, positioning them strongly in customer satisfaction and order growth.

3) Michael Brown, Investor:
Question: Michael asked about future capital needs and sources.
Response: Bob Ganan, CFO, discussed ongoing cost reductions and mentioned they are maintaining a lean operating model while working with ATW on near-term funding and exploring additional funding for long-term growth.

4) Patricia Lane, Securities Analyst:
Question: Patricia was interested in understanding the steps Workhorse is taking to expand its market presence internationally.
Response: Rick highlighted their approval to import and sell W56 and W750 models in Canada, alongside establishing demo programs with large fleets, thereby actively expanding their footprint beyond the U.S.

5) Rahul Kumar, Financial Analyst:
Question: Rahul asked about production capabilities and any bottlenecks in the supply chain.
Response: Rick confirmed their in-house production eliminates dependence on third-party manufacturing, adding control and flexibility. They are evaluating new North American battery suppliers to assure supply chain resilience.