MILWAUKEE — LiveWire, the electric motorcycle company backed by Harley-Davidson, is warning that its future as an independent business is in serious doubt as it continues to struggle with financial losses, limited cash reserves and weak demand for electric motorcycles.
The company issued a going-concern warning Thursday, October 29, acknowledging that its financial condition raises substantial doubt about its ability to continue operating over the next year. The announcement comes as LiveWire continues to search for ways to secure funding and stabilize its business.
LiveWire was spun off from Harley-Davidson in 2022 in a deal valued at approximately $1.8 billion. The move was intended to give the electric motorcycle brand greater independence as it attempted to establish itself in the growing electric vehicle market.
However, the company has struggled to turn that ambition into sustainable sales.
According to its third-quarter financial results, LiveWire reported revenue of $7.9 million, up 38% from the same period last year. Unit sales increased 21%, and its net loss narrowed slightly to $18.6 million from $19.4 million a year earlier.
Despite those improvements, the company reported an adjusted loss before interest, taxes, depreciation and amortization of $14.7 million for the quarter.
LiveWire also withdrew its previous financial forecast for 2026, which projected an operating loss between $70 million and $80 million.
Cash Concerns and Restructuring
LiveWire’s financial position has become increasingly challenging. The company reported approximately $39.9 million in cash and cash equivalents at the end of September, down from $82.8 million at the end of 2025.
The company is now evaluating potential financing and strategic alternatives, including raising additional capital, pursuing partnerships or investments, selling assets, restructuring its operations or considering other transactions.
A special restructuring committee has been formed to oversee the process. Roy Gallagher was appointed chief restructuring officer and will also serve as the company’s principal executive officer, reporting to the committee.
There is no guarantee that LiveWire will be able to secure the financing or other arrangements needed to continue operating.
Electric Motorcycles Face a Difficult Market
LiveWire’s struggles highlight the challenges facing manufacturers trying to persuade traditional motorcycle riders to switch to electric power.
While electric motorcycles offer instant torque, quiet operation and reduced dependence on gasoline, price, battery range and charging convenience remain concerns for many potential buyers.
LiveWire initially positioned itself as a premium electric motorcycle brand, but attracting enough customers at those price points has proven difficult. The company has since expanded its lineup to include smaller, more affordable electric models, including its S4 Honcho series.
Harley-Davidson remains LiveWire’s majority shareholder, but the company’s financial difficulties raise questions about the long-term future of the electric motorcycle operation.
For riders, dealers and the broader motorcycle industry, the coming months could determine whether LiveWire can find a sustainable path forward or whether one of the motorcycle industry’s most prominent electric vehicle ventures will be forced to make major changes.
For now, LiveWire is exploring its options, but its warning makes clear that the company’s continued existence as an independent business is far from assured.