LiveWire Flags Going-Concern Doubt and Withdraws 2026 Operating-Loss Forecast

LiveWire Group Inc. withdrew its 2026 operating-loss forecast Thursday after management disclosed substantial doubt about the company’s ability to continue as a going concern within one year after its Sept. 30 financial statements are issued.

The assessment period begins when those financial statements are issued, rather than on the quarter’s Sept. 30 end date. Management cited recurring operating losses, negative operating cash flow, limited liquidity and anticipated funding needs as reasons for the warning.

LiveWire had previously forecast a 2026 operating loss of $70 million to $80 million. Its board formed a special restructuring committee on Oct. 22 to review and negotiate financing, a sale, restructuring, recapitalization and other strategic options. The company cited a debt maturity in December 2027 and said “there can be no assurance that such efforts will be successful.”

CEO Karim Donnez resigned effective Oct. 21, and Roy Gallagher became chief restructuring officer and principal executive officer on Oct. 25.

LiveWire’s third-quarter revenue rose 38% to $7.863 million from $5.701 million a year earlier. Its net loss narrowed to $18.621 million from $19.395 million in the third quarter of 2025.

Cash and cash equivalents stood at $39.919 million on Sept. 30, compared with $82.777 million on Dec. 31, 2025. During the first nine months of 2026, the company used $38.340 million in operating cash, down from $45.648 million in the same period of 2025. Free cash flow was negative $40.535 million, compared with negative $48.159 million a year earlier.

Harley-Davidson is LiveWire’s majority owner. LiveWire’s business includes electric motorcycles and STACYC electric balance bikes. The company expects to provide more information about its liquidity, management plans and going-concern assessment in a quarterly report expected on or before Nov. 9.