Workhorse Group Inc (NASDAQ: WKHS) reported sales, net of returns and allowances, for Q3 FY23 were $3.03 million, up from $1.5 million a year ago, missing the consensus of $20.9 million.
The increase in sales was led by the reversal of a $2.4 million sales allowance in the current period related to the sale of W4 CC vehicles in Q2 FY23.
Rick Dauch CEO, said, "We added two new certified dealers to our commercial vehicle network. At our Aero business, we continue to work closely with UPS Flight Forward to put our aircraft on their FAA Part 135 certificate. We sold UPS additional drones for FAA certification and field testing."
"While we ...