NEW YORK, July 24, 2026 – Shares of LiveWire Group, Inc. (NYSE: LVWR) surged nearly 100% in premarket trading on Friday, following the release of second-quarter results that showed a significant jump in revenue and electric motorcycle sales. However, the company's maintained full-year loss guidance tempered some of the enthusiasm.
According to premarket data from MarketWatch, LiveWire shares were indicated at $1.4791 as of 06:36 EDT, representing a 92.1% increase from Thursday's closing price of $0.77. The premarket session saw heavy trading volume, with more than 11 million shares changing hands, roughly 29 times the stock's 65-day daily average.
For the second quarter ended June 30, LiveWire reported consolidated revenue of $9.1 million, a 55% increase compared to $5.9 million in the same period last year. Electric motorcycle unit sales surged 386% to 267 units, up from 55 units in the prior-year quarter. Revenue from electric motorcycles rose to $3.6 million, a 333% increase from $0.8 million in Q2 2025.
Despite the strong top-line growth, the company's gross margin turned negative at -0.5%, compared to a positive 9.3% gross margin in the year-ago quarter. The combined cost of goods sold was marginally higher than total revenue, resulting in a negative gross profit. The net loss for the quarter decreased by 3% to $18.2 million, while the operating loss for the motorcycle segment remained unchanged at $18.0 million.
LiveWire maintained its full-year loss guidance of $70 million to $80 million, implying a second-half operating loss of $34.4 million to $44.4 million. The company reported operating losses of $35.6 million for the first half, based on segment reporting from majority owner Harley-Davidson, Inc. (NYSE: HOG). The first-half loss was 10.7% higher than the same period last year, indicating limited immediate operating leverage.
Chief Executive Karim Donnez described the quarter as “an important step forward,” highlighting the production of the S4 Honcho and the acquisition of Dust in May. Dust provides LiveWire with an independent off-road platform. Initial deliveries of the Honcho to authorized dealers are expected later this summer.
Cash and cash equivalents stood at $52.9 million as of June 30, down from $82.8 million at the end of December. Free cash outflow for the first half narrowed by 19% to $27.7 million. Long-term related-party term debt totaled $76.8 million, and the company generated only $100,000 in gross proceeds from its at-the-market initiative during the half.
Harley-Davidson upgraded its forecast for traditional motorcycles while maintaining its projected loss for LiveWire. Harley's shares ended Thursday's trading at $26.52, down 3.9%.
The premarket rally will be tested during regular trading hours, which begin at 09:30 EDT. Following that, the next operational milestone is the delivery of the Honcho. However, risks remain significant, including a negative gross margin, ongoing cash burn, inventory write-downs, and potential after-hours volatility that could end the rally.
