LiveWire Group
LVWR on NYSE. LiveWire sells electric motorcycles to riders. Market value $302m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
Nothing stands out yet.
See Retail & consumer stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-15.20 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 23 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$1.63 a share, 152% above its 1-year low
Over the past year the price has ranged from $0.65 to $6.44.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | ||||
| Revenue | $47m | $38m | $27m | $26m |
| Operating margin | ||||
| Operating margin | -181.4% | -305.0% | -414.4% | -294.0% |
| Debt to equity | ||||
| Debt to equity | n/a | n/a | 0.00 | 1.63 |
| Shares outstanding | ||||
| Shares outstanding | 0.20bn | 0.20bn | 0.20bn | 0.21bn |
Health checks
- Free cash flow positive0 of 4 years
- Accounting checksSkipped: company is not yet profitable
- Debt1.63× equity
- Revenue growth, five yearsShrinking, 18.2% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $9 million last quarter, up 55% on a year ago.
- A loss of $18 million, compared with a loss of $19 million a year ago.
- It loses 231 cents on each $1 of sales, compared with 381 cents a year earlier.
- Over the past 12 months it spent $51 million more cash than it brought in, compared with $82 million a year earlier.
- 1% more shares than a year ago. Each share owns a bit less of the company.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $4m |
| December 2024 | $11m |
| March 2025 | $3m |
| June 2025 | $6m |
| September 2025 | $6m |
| December 2025 | $11m |
| March 2026 | $5m |
| June 2026 | $9m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$23m |
| December 2024 | -$23m |
| March 2025 | -$19m |
| June 2025 | -$19m |
| September 2025 | -$19m |
| December 2025 | -$18m |
| March 2026 | -$18m |
| June 2026 | -$18m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 20 February 2026
- Next quarterly (estimated, 10-Q)
- 4 November 2026
Who owns it
None of the long-term investors we follow own it. 61 funds in all.
Largest holders overall
- BlackRock$1mAdded
- Alliancebernstein L.P.$754,575Added
- State Street$535,931Cut
- Geode Capital Management$480,264Cut
- Vanguard Capital Management$299,649Added
- Charles Schwab Investment Management$190,289Added
- Vanguard Fiduciary Trust$143,541Added
- Northern Trust$132,215
- GSA Capital Partners LLP$114,000Added
- Millennium Management$104,517Added
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
No one has reported a stake above 5% since December 2024.
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 5 sold $830,325.
- Nienhuis JeremiahHead of Strat. & Product Ops.Sold
- Date
- 3 September 2026
- Shares
- 10,732
- Price
- $1.15
- Value
- $12,309
- Nienhuis JeremiahHead of Strat. & Product Ops.Sold
- Date
- 3 September 2026
- Shares
- 10,732
- Price
- $2.38
- Value
- $25,492
- Cornog William LDirectorSold
- Date
- 31 July 2026
- Shares
- 216
- Price
- $2.25
- Value
- $486
- Gruner KjellDirectorSold
- Date
- 31 July 2026
- Shares
- 94,091
- Price
- $2.11
- Value
- $198,532
- Gruner KjellDirectorSold
- Date
- 30 July 2026
- Shares
- 7,071
- Price
- $1.98
- Value
- $14,000
- Nienhuis JeremiahHead of Strat. & Product Ops.Sold
- Date
- 29 July 2026
- Shares
- 10,732
- Price
- $2.38
- Value
- $25,498
- Donnez KarimChief Executive OfficerSold
- Date
- 29 July 2026
- Shares
- 230,557
- Price
- $2.33
- Value
- $537,129
- Bekefy JonHead of Global Sales & Mktg.Sold
- Date
- 5 December 2025
- Shares
- 4,199
- Price
- $4.02
- Value
- $16,880
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 3 September 2026 | Nienhuis Jeremiah Head of Strat. & Product Ops. | Sold | 10,732 | $1.15 | $12,309 |
| 3 September 2026 | Nienhuis Jeremiah Head of Strat. & Product Ops. | Sold | 10,732 | $2.38 | $25,492 |
| 31 July 2026 | Cornog William L Director | Sold | 216 | $2.25 | $486 |
| 31 July 2026 | Gruner Kjell Director | Sold | 94,091 | $2.11 | $198,532 |
| 30 July 2026 | Gruner Kjell Director | Sold | 7,071 | $1.98 | $14,000 |
| 29 July 2026 | Nienhuis Jeremiah Head of Strat. & Product Ops. | Sold | 10,732 | $2.38 | $25,498 |
| 29 July 2026 | Donnez Karim Chief Executive Officer | Sold | 230,557 | $2.33 | $537,129 |
| 5 December 2025 | Bekefy Jon Head of Global Sales & Mktg. | Sold | 4,199 | $4.02 | $16,880 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the serious warning signs we check for were found. 1 thing worth knowing.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 20 Feb 2026, plus the 10-Q filed 5 Aug 2026 and 6 later 8-Ks.
Changed auditor
Worth knowingThe company changed its auditor (the firm that checks its books) in the last two years.
“On February 26, 2025, upon the completion of a comprehensive selection process, the Audit Committee (the “Audit Committee”) of the Board of Directors of LiveWire Group, Inc. (the “Company”) approved (1) the dismissal of Ernst & Young LLP (“EY”) as the Company's independent registered public accounting firm, effective immediately”
From an 8-K filed 3 March 2025: Change of auditor. Read it in the filing
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- Sales have shrunk: 18.2% a year.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.