LiveWire's Slight 2025 Sales Rise Falls Short of 1,000 Units Sold

Financial Performance of LiveWire in 2025

The financial results for LiveWire, the electric vehicle (EV) motorcycle brand under Harley-Davidson, reveal a mixed picture. While the company continues to report losses, these losses are smaller compared to the previous year. In 2025, LiveWire posted an operating loss of $75 million, which is a 32% reduction from the $109.6 million loss recorded in 2024. This suggests that the company is making progress, albeit slowly.

Despite the improved performance, the revenue for LiveWire in 2025 was slightly lower at $25.7 million, compared to $26.4 million in 2024. This represents a 3% decrease in revenue on a year-over-year basis. However, when it comes to the number of motorcycles sold, there has been a positive trend. LiveWire reported selling 653 units in 2025, a 7% increase from the 612 units sold in 2024. This gradual growth indicates that the brand is gaining traction in the market.

In addition to its motorcycle sales, LiveWire also reported a rise in the sales of its Stacyc electric balance bikes. The company sold 21,141 units in 2025, marking a 15% increase from the 18,351 units sold in 2024. This diversification into balance bikes could be a strategic move to expand its customer base and generate additional revenue streams.

Evaluating the Progress

While the improvements in sales and reduced losses are encouraging, they may not be enough to ensure long-term success. The fact that LiveWire sold 41 more motorcycles in 2025 than in 2024, yet experienced a slight decline in revenue, raises questions about the effectiveness of its business model. The drop in revenue is attributed to the impact of new incentives introduced in the third quarter of 2025. This highlights the challenge of balancing increased sales with maintaining profitability.

Market Position and Competition

One notable point from Harley-Davidson's Q4 and FY 2025 results presentation is that LiveWire is listed as #1 in retail sales of 50+hp EV street legal motorcycles in the U.S. for 2025. This claim is supported by a Motorcycle Industry Council (MIC) report. However, this statistic may not hold significant meaning due to the limited number of such vehicles in the market. It is akin to claiming to be the top journalist in one's home office, where the competition is minimal.

Other competitors in the EV motorcycle space include Energica, Zero, and Verge. Energica, which faced challenges due to a private equity firm's actions, is currently being revived by Singaporean investors. This uncertainty affects consumer confidence, but enthusiasts like Marc Travels continue to support the brand. Zero, on the other hand, has a longer history in the EV motorcycle market and is known for its dirt and dual-sport options. Verge, which entered the U.S. market in 2024, is positioned as a boutique brand with higher price points, making it less likely to achieve mass-market appeal.

Conclusion

LiveWire's 2025 performance shows signs of improvement, but the company still faces significant challenges. The reduction in losses and the increase in unit sales are positive developments, but they need to be accompanied by sustained revenue growth and market expansion. As the EV motorcycle industry continues to evolve, LiveWire must navigate the competitive landscape while addressing the unique demands of its customers. Whether these efforts will be sufficient to secure a strong future remains to be seen.