LiveWire Group, Inc. Reports 2023 Fourth Quarter and Full Year Financial Results

MILWAUKEE, WI – February 8, 2024 – (Motor Sports NewsWire) – LiveWire Group, Inc. (“LiveWire” or the “Company”) (NYSE: LVWR) today reported fourth quarter and full year 2023 results.

“LiveWire concluded 2023 with a strong Q4 performance, delivering on units and operating loss guidance for the full year with the successful delivery to market of S2 Del Mar^®, the first model built on our S2 platform that continues to generate a positive response from the media, our retailers, and our riders. We expect 2024 to be a year highlighted by product innovation, market expansion, and continued cost improvements,” said Karim Donnez, CEO, LiveWire.

2023 Highlights and Financial Results

• Launched Del Mar, the first model built with an all-new in-house developed battery pack, power electronics, motor, telematics, and associated software
• Unit sales of 660 electric motorcycles, up double digits versus prior year
• Consolidated operating loss in line with our expectations driven by product development costs relating to S2 platform, delivery of Del Mar, a provision for an obligation for excess inventory components, and additional costs to stand up the organization as a stand-alone public company
• Ended the year with 126 retail partners globally

Fourth Quarter 2023 Summary of Results

• Unit sales of 514 electric motorcycles, with an increase in consolidated revenue of 64% versus prior year
• Consolidated operating loss increase over prior year of $4.9 million resulting primarily from costs related to increased volume and a provision for an obligation for excess inventory components
• Continued investment in developing models on the S2 platform

LiveWire Group, Inc. – Consolidated Results

LiveWire Group, Inc. – Segment Results