MILWAUKEE, WI – February 2, 2023 – (Motor Sports NewsWire) – LiveWire Group, Inc. (“LiveWire”) (NYSE: LVWR) today reported fourth quarter and full year 2022 results.
“2022 saw a significant milestone in LiveWire’s journey with the company becoming the first listed electric motorcycle company on the NYSE,” said Jochen Zeitz, Chairman and CEO, LiveWire. “For 2023, investment into product development continues to be at the top of our priority list; advancing the technologies, platforms and products that will further our position as pioneers of the industry.”
“We’re excited to continue building the LiveWire brand globally, and in 2023 we expect to see the introduction of LiveWire ONE to the European market and the launch of the S2 platform,” said Ryan Morrissey, President, LiveWire.
2022 Business Highlights
- Completed the carve-out and stand-up of LiveWire as separate public company
- Sold 597 LiveWire electric motorcycles, ahead of expectations
- Nearly doubled the reach of the U.S. retail network to 75 contracted partner locations
- Delivered STACYC revenue growth of 26% with successful launch of two new products
- Continued development of the S2 platform with production of Del Mar planned for 2023
- On track to expand distribution of LiveWire into Europe in 2023
Fourth Quarter and Full Year 2022 Results
LiveWire Group, Inc. – Consolidated Results
|
$ in millions |
4th quarter |
Full Year |
||||
|
2022 |
2021 |
Change |
2022 |
2021 |
Change |
|
|
Motorcycle Units |
69 |
186 |
(63%) |
597 |
461 |
30% |
|
Consolidated Revenue |
$9 |
$13 |
(28%) |
$47 |
$36 |
31% |
|
Electric Motorcycles |
$2 |
$4 |
(57%) |
$14 |
$10 |
44% |
|
STACYC |
$8 |
$9 |
(17%) |
$ 33 |
$26 |
26% |
|
Consolidated Op Income (Loss) |
($29) |
($20) |
nm |
($85) |
($68) |
nm |
|
Electric Motorcycles |
($29) |
($21) |
nm |
($89) |
($70) |
nm |
|
STACYC |
$1 |
$1 |
(31%) |
$4 |
$2 |
96% |
|
Net Loss |
($22) |
($20) |
nm |
($79) |
($68) |
nm |
|
nm – not meaningful |
||||||
LiveWire Group, Inc. is comprised of two separate business segments:
- Electric Motorcycles – a business segment focused on the sale of electric motorcycles & related products
- STACYC – a business segment focused on the sale of electric balance bikes for kids & related products
Electric Motorcycles
Electric Motorcycles revenue was down 57% in the fourth quarter, due to lower unit sales. The fourth quarter of 2021 was higher than normal due to wholesale…
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