LiveWire Reports Q3 2024 Results: Electric Motorcycle Sales Up, But Net Loss Widens
October 24, 2024
Merger/DeSPAC: Sep 30, 22
Industry:
MOTORCYCLES, BICYCLES & PARTS
Milwaukee, WI – LiveWire Group, Inc. (NYSE: LVWR / LVWR.WS), a leading electric motorcycle company, reported mixed results for the third quarter of 2024. Despite a challenging market for electric vehicles, LiveWire saw a double-digit increase in electric motorcycle sales compared to Q3 2023, driven by strong demand for its on-road models. However, the company reported a wider net loss of $22.7 million, compared to $14.6 million in the same period last year.
Key takeaways:
- Electric motorcycle sales: Unit sales reached 99, a significant increase from the previous year.
- Financial performance: Consolidated revenue decreased by 45% to $4.4 million, primarily due to lower sales of STACYC electric balance bikes.
- Operating loss: The company’s operating loss increased to $26.5 million, driven by lower revenue.
- Cost reduction: LiveWire successfully streamlined its workforce and relocated its LiveWire Labs to Milwaukee, Wisconsin.
- Outlook: The company revised its full-year guidance for electric motorcycle sales to 600-1,000 units and reaffirmed its operating loss forecast of $105 to $115 million.
LiveWire remains optimistic about the future of electric motorcycles and plans to announce a new product segment at the EICMA motorcycle show in November. The company believes this new segment will significantly expand its addressable market.
VSee Health Launches Telehealth Program for Obesity and Chronic Disease Management
October 22, 2024
Merger/DeSPAC: Jun 25, 24
Industry:
HEALTH SERVICES
Boca Raton, FL – VSee Health (Nasdaq: VSEE / VSEEW) is expanding its telehealth services with a new program focused on obesity and chronic disease management. The program integrates GLP-1 prescription medications with virtual care, offering patients personalized care plans, access to medications, and virtual support sessions.
This initiative aims to address health challenges in communities with high obesity rates and limited access to care. VSee Health is collaborating with organizations like the National Black Baptist Association to raise awareness about obesity and cardiovascular disease.
By leveraging its existing telehealth infrastructure and incorporating GLP-1 medications, VSee Health seeks to empower individuals to take control of their health and reduce long-term complications. The program’s impact will be evaluated through tracking outcomes at both the individual and community levels.