LiveWire (LVWR) 10-Q 9 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Aug. 04, 2023
Document Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-41511
Entity Registrant Name	LiveWire Group, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-4730333
Entity Address, Address Line One	3700 West Juneau Avenue
Entity Address, City or Town	Milwaukee
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53208
City Area Code	650
Local Phone Number	447-8424
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	LVWR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Small Business	false
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		202,543,648
Entity Central Index Key	0001898795
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
Warrant
Document Information
Title of 12(b) Security	Warrants to purchase common stock
Trading Symbol	LVWR WS
Security Exchange Name	NYSE

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 26, 2022	Jun. 30, 2023	Jun. 26, 2022
Revenues [Abstract]
Revenue, net	$ 7,026	$ 12,506	$ 14,788	$ 22,907
Costs and expenses:
Cost of goods sold	9,966	12,896	16,464	23,244
Selling, administrative and engineering expense	29,044	18,966	55,215	34,718
Total costs and expenses	39,010	31,862	71,679	57,962
Operating loss	(31,984)	(19,356)	(56,891)	(35,055)
Other income, net	0	87	0	156
Interest income (expense)	2,754	(16)	5,446	(20)
Change in fair value of warrant liabilities	(11,438)	0	(10,370)	0
Loss before income taxes	(40,668)	(19,483)	(61,815)	(35,394)
Income tax provision	64	95	64	163
Net loss	(40,732)	(19,578)	(61,879)	(35,557)
Other comprehensive loss:
Foreign currency translation adjustments	0	6	0	(94)
Comprehensive loss	$ (40,732)	$ (19,572)	$ (61,879)	$ (35,651)
Net loss per share, basic (Note 5) (in dollars per share)	$ (0.20)	$ (0.12)	$ (0.31)	$ (0.22)
Net loss per share, diluted (Note 5) (in dollars per share)	$ (0.20)	$ (0.12)	$ (0.31)	$ (0.22)
Related Party
Costs and expenses:
Interest expense related party	$ 0	$ (198)	$ 0	$ (475)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 215,872	$ 265,240
Inventories, net	32,174	29,215
Other current assets	2,720	4,625
Total current assets	255,850	301,930
Property, plant and equipment, net	35,678	31,567
Goodwill	8,327	8,327
Lease assets	2,538	3,128
Intangible assets, net	1,578	1,809
Other long-term assets	6,490	5,044
Total assets	310,461	351,805
Current liabilities:
Accrued liabilities	17,047	20,343
Current portion of lease liabilities	1,385	1,312
Total current liabilities	40,828	34,443
Long-term portion of lease liabilities	1,244	1,913
Deferred tax liabilities	78	15
Warrant liabilities	18,757	8,388
Other long-term liabilities	425	246
Total liabilities	61,332	45,005
Commitments and contingencies (Note 10)
Shareholders' equity:
Preferred Stock, $0.0001 par value; 20,000 shares authorized; no shares issued and outstanding as of both June 30, 2023 and December 31, 2022	0	0
Common Stock, $0.0001 par value; 800,000 shares authorized; 202,409 and 202,403 issued and outstanding as of June 30, 2023 and December 31, 2022, respectively	20	20
Additional paid-in-capital	333,426	329,218
Accumulated deficit	(84,317)	(22,438)
Total shareholders' equity	249,129	306,800
Total liabilities and shareholders' equity	310,461	351,805
Nonrelated Party
Current assets:
Accounts receivable, net	4,677	2,325
Current liabilities:
Accounts payable	6,072	7,055
Related Party
Current assets:
Accounts receivable, net	407	525
Current liabilities:
Accounts payable	$ 16,324	$ 5,733

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock stated value per share (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock stated value per share (in dollars per share)	$ 0.0001	$ 0.0001
Common stock shares authorized (in shares)	800,000,000	800,000,000
Common stock, issued (in shares)	202,409,000	202,403,000
Common stock, share outstanding (in shares)	202,409,000	202,403,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 26, 2022
Cash flows from operating activities:
Net loss	$ (61,879)	$ (35,557)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	1,372	2,806
Payment of contingent consideration in excess of acquisition date fair value	0	(413)
Change in fair value of warrant liabilities	10,370	0
Stock compensation expense	4,202	(171)
Provision for doubtful accounts	55	27
Deferred income taxes	63	82
Inventory write-downs	1,626	597
Cloud computing arrangements development costs	(640)	(1,158)
Other Noncash Income (Expense)	(629)	(511)
Changes in current assets and liabilities:
Accounts receivable, net	(2,407)	3,064
Accounts receivable from related party	118	(1,124)
Inventories	(4,585)	(11,321)
Other current assets	1,905	1,892
Accounts payable and accrued liabilities	(1,357)	4,143
Accounts payable to related party	10,591	0
Net cash used by operating activities	(41,195)	(37,644)
Cash flows from investing activities:
Capital expenditures	(8,175)	(5,722)
Net cash used by investing activities	(8,175)	(5,722)
Cash flows from financing activities:
Proceeds received from exercise of warrants (Note 7)	2	0
Borrowings on notes payable to related party (Note 11)	0	15,333
Payment of contingent consideration up to acquisition date fair value	0	(1,767)
Transfers from H-D (Note 11)	0	32,497
Net cash provided by financing activities	2	46,063
Net (decrease) increase in cash and cash equivalents	(49,368)	2,697
Cash and cash equivalents:
Cash and cash equivalents—beginning of period	265,240	2,668
Net (decrease) increase in cash and cash equivalents	(49,368)	2,697
Cash and cash equivalents—end of period	$ 215,872	$ 5,365

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional paid-in capital	Accumulated Deficit	Accumulated other comprehensive income (loss)	Net Parent company investment
Balance, beginning at Dec. 31, 2021	$ 19,925	$ 0	$ 0	$ 0	$ 145	$ 19,780
Balance, beginning of period (in shares) at Dec. 31, 2021		0
Increase (Decrease) in Stockholders' Equity
Net loss prior to Business Combination	(15,979)					(15,979)
Other comprehensive loss, net of tax	(100)				(100)
Net contribution from H-D	19,051					19,051
Balance, ending at Mar. 27, 2022	22,897	$ 0	0	0	45	22,852
Balance, ending of period (in shares) at Mar. 27, 2022		0
Balance, beginning at Dec. 31, 2021	19,925	$ 0	0	0	145	19,780
Balance, beginning of period (in shares) at Dec. 31, 2021		0
Increase (Decrease) in Stockholders' Equity
Net loss prior to Business Combination	(35,557)
Balance, ending at Jun. 26, 2022	37,385	$ 0	0	0	51	37,334
Balance, ending of period (in shares) at Jun. 26, 2022		0
Balance, beginning at Mar. 27, 2022	22,897	$ 0	0	0	45	22,852
Balance, beginning of period (in shares) at Mar. 27, 2022		0
Increase (Decrease) in Stockholders' Equity
Net loss prior to Business Combination	(19,578)					(19,578)
Other comprehensive loss, net of tax	6				6
Net contribution from H-D	34,060					34,060
Balance, ending at Jun. 26, 2022	37,385	$ 0	0	0	51	37,334
Balance, ending of period (in shares) at Jun. 26, 2022		0
Balance, beginning at Dec. 31, 2022	$ 306,800	$ 20	329,218	(22,438)	0	0
Balance, beginning of period (in shares) at Dec. 31, 2022	202,403	202,403
Increase (Decrease) in Stockholders' Equity
Net loss prior to Business Combination	$ (21,147)			(21,147)
Share-based compensation expense	1,824		1,824
Share-based compensation expense (in shares)		6
Balance, ending at Mar. 31, 2023	287,477	$ 20	331,042	(43,585)	0	0
Balance, ending of period (in shares) at Mar. 31, 2023		202,409
Balance, beginning at Dec. 31, 2022	$ 306,800	$ 20	329,218	(22,438)	0	0
Balance, beginning of period (in shares) at Dec. 31, 2022	202,403	202,403
Increase (Decrease) in Stockholders' Equity
Net loss prior to Business Combination	$ (61,879)
Balance, ending at Jun. 30, 2023	$ 249,129	$ 20	333,426	(84,317)	0	0
Balance, ending of period (in shares) at Jun. 30, 2023	202,409	202,409
Balance, beginning at Mar. 31, 2023	$ 287,477	$ 20	331,042	(43,585)	0	0
Balance, beginning of period (in shares) at Mar. 31, 2023		202,409
Increase (Decrease) in Stockholders' Equity
Net loss prior to Business Combination	(40,732)			(40,732)
Share-based compensation expense	2,378		2,378
Shareholder warrants exercised	6		6
Balance, ending at Jun. 30, 2023	$ 249,129	$ 20	$ 333,426	$ (84,317)	$ 0	$ 0
Balance, ending of period (in shares) at Jun. 30, 2023	202,409	202,409

Description of Business and Bas

Description of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation LiveWire Group, Inc., a Delaware corporation, and its consolidated subsidiaries are referred to in these Consolidated financial statements and notes as the “we,” “our,” “us,” the “Company,” or “LiveWire.” The Company designs and sells electric motorcycles and electric balance bikes with related electric motorcycle parts, accessories, and apparel. The Company operates in two segments: Electric Motorcycles and STACYC. On September 26, 2022, the Company consummated a previously announced business combination pursuant to a business combination agreement, dated as of December 12, 2021 (the “Business Combination Agreement”), by and among AEA-Bridges Impact Corp (“ABIC”), LiveWire Group Inc., (formerly known as LW EV Holdings, Inc.), LW EV Merger Sub, Inc., a Delaware corporation (“Merger Sub”), Harley-Davidson, Inc., a Wisconsin corporation (“H-D”), and LiveWire EV, LLC (“Legacy LiveWire”), a wholly-owned subsidiary of H-D. Pursuant to the terms of the Business Combination Agreement: (a) ABIC migrated to and domesticated as a Delaware corporation (“Domesticated ABIC”) (the “Domestication”), in connection with which all of the ABIC’s (i) outstanding ordinary shares were converted, on a one-for-one basis, into common stock, par value $0.0001 per share, of Domesticated ABIC, (ii) outstanding warrants were converted, on a one-for-one basis, into warrants to acquire one share each of common stock of Domesticated ABIC and (iii) outstanding units were canceled and instead entitle the holder thereof to, per unit, one share of common stock of Domesticated ABIC and one-half of one warrant of Domesticated ABIC; (b) H-D and Legacy LiveWire consummated the separation (the “Separation”) of the Legacy LiveWire business and the other transactions contemplated by the Separation Agreement (the “Separation Agreement”); (c) following the Domestication and immediately following the Separation, Merger Sub merged with and into Domesticated ABIC, with Domesticated ABIC surviving as a direct, wholly owned subsidiary of the Company (the “Merger”), and the Company continuing as the public company in the Merger, with each share of common stock of Domesticated ABIC being converted into the right of the holder thereof to receive one share of common stock, par value $0.0001 (“Common Stock”); (d) immediately following the Merger, H-D caused all of the membership interests of Legacy LiveWire (“Legacy LiveWire Equity” ) held by ElectricSoul, LLC (the “Legacy LiveWire Equityholder”), a Delaware limited liability company and a subsidiary of H-D, to be contributed to the Company in exchange for 161,000,000 shares of Common Stock and the right to receive up to an additional 12,500,000 shares of Common Stock in the future (the “Earn-Out Shares”, and the transactions contemplated by this clause (d), collectively, the “Exchange”), and as a result of the Exchange, Legacy LiveWire became a direct, wholly owned subsi diary of the Company; (e) immediately following the consummation of the Exchange, the Company contributed 100% of the outstanding equity interests of Legacy LiveWire to Domesticated ABIC (clauses (a) through (e) collectively, the “Business Combination”). Pursuant to investment agreements entered into in connection with the Business Combination Agreement, the KYMCO Group agreed to subscribe for an aggregate of 10,000,000 newly-issued shares of Common Stock at a purchase price of $10.00 per share for an aggregate purchase price of $100 million (the “KYMCO PIPE Investment”). Pursuant to the Business Combination Agreement, and an investment agreement entered into prior to the Closing, the Legacy LiveWire Equityholder agreed to subscribe for an aggregate of 10,000,000 newly-issued shares of Common Stock at a purchase price of $10.00 per share for an aggregate purchase price of $100 million (the “Legacy LiveWire Equityholder PIPE Investment” and, together with the KYMCO PIPE Investment, the “PIPE Investments”). At the Closing, the Company consummated the PIPE Investments. Pursuant to the Business Combination Agreement, H-D caused the Legacy LiveWire Equityholder to pay and deliver to the Company an amount in cash equal to $100 million, which is the H-D Backstop Amount (as defined in the Business Combination Agreement) in exchange for 10,000,000 shares of Common Stock (the “H-D Backstop Shares”) at a purchase price of $10.00 per H-D Backstop Share. Additionally, H-D was reimbursed for $20.1 million of transaction costs and advisory fees incurred through a reduction of the proceeds provided. In connection with the Business Combination, H-D has the right to receive up to an additional 12,500,000 shares of the Company's Common stock as Earn-Out Shares upon the occurrence of certain triggering events: (i) a one-time issuance of 6,250,000 Earn Out Shares if the volume-weighted average price (“VWAP”) of Common Stock is greater than or equal to $14.00 over any 20 trading days within any 30 consecutive trading day period; and (ii) a one-time issuance of 6,250,000 Earn Out Shares if the VWAP of Common Stock is greater than or equal to $18.00 over any 20 trading days within any 30 consecutive trading-day period ((i) and (ii) each, a “Triggering Event”), in each case, during a period beginning 18 months from the Closing Date and expiring five years thereafter (the “Earn Out Period”). After giving effect to the PIPE Investments of $200 million, the H-D Backstop Amount of $100 million (less $20.1 million of transaction costs and advisory fees incurred by H-D through a reduction of the proceeds provided), and ABIC’s remaining cash held in trust account and operating cash in aggregate of $13.8 million (net of the special purpose acquisition company (“SPAC”) share redemption amount of $368.1 million and payment of transaction costs incurred by ABIC of $20.6 million), the Business Combination resulted in net proceeds of approximately $293.7 million. After giving effect to the Business Combination, the redemption of Initial Shares as described above, the issuance of the H-D Backstop Shares and the consummation of the PIPE Investments, there were 202,402,888 shares of Common Stock issued and outstanding. The Company also assumed the Public Warrants and Private Warrants upon consummation of the Business Combination. See further detail in Note 7, Warrant Liabilities. The Business Combination was accounted for as a reverse recapitalization. Under this method of accounting, ABIC has been treated as the acquired company for financial reporting purposes. The net assets of ABIC were stated at carrying value, with no goodwill or other intangible assets recorded. Operations presented in the Consolidated financial statements for the periods prior to the consummation of the Business Combination are those of Legacy LiveWire. Throughout the notes to the Consolidated financial statements, unless otherwise noted, the “Company” and similar terms refer to Legacy LiveWire and its subsidiaries prior to the consummation of the Business Combination, and LiveWire and its subsidiaries after the consummation of the Business Combination. References to ABIC refer to the SPAC entity prior to consummation of the Business Combination. Operating results for the periods presented prior to the consummation of the Business Combination represent those of Legacy LiveWire. Basis of Presentation In the opinion of the Company’s management, the accompanying unaudited interim Consolidated financial statements contain all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the Consolidated balance sheet as of June 30, 2023, and the Consolidated statements of operations and comprehensive loss and the Consolidated statements of shareholders’ equity for the three and six months ended June 30, 2023 and June 26, 2022, and the Consolidated statements of cash flows for the six months ended June 30, 2023 and June 26, 2022. Certain information and disclosures normally included in complete financial statements have been condensed or omitted pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”) and generally accepted accounting principles in the United States of America (“GAAP”) for interim financial reporting. These unaudited Consolidated financial statements should be read in conjunction with the audited Consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. The preparation of financial statements in conformity with U.S. GAAP requires the Company’s management to make estimates and assumptions that affect the amounts reported in the Consolidated financial statements and the accompanying notes. Actual results could differ from those estimates. All intercompany transactions within the Company have been eliminated in preparing the Consolidated financial statements. On September 26, 2022, the Company consummated the Separation and Business Combination and became a standalone publicly traded company, and its financial statements are now presented on a Consolidated basis. Prior to the Separation and Business Combination on September 26, 2022, the Company's historical combined financial statements were prepared on a standalone carve-out basis and were derived from H-D's Consolidated financial statements and accounting records. The financial statements for all periods presented, including historical periods prior to September 26, 2022, are now referred to as “Consolidated financial statements”, and have been prepared in accordance with GAAP and pursuant to the rules and regulations of the SEC. For such periods prior to the Separation, certain corporate and shared costs were allocated to the Company based on a specific identification basis, or when specific identification was not practicable, a proportional cost allocation method.

New Accounting Standards

New Accounting Standards	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Standards	New Accounting Standards Recently Issued Accounting Pronouncements Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The Company recognizes revenue when it satisfies a performance obligation by transferring control of a good or service to a customer. Revenue is measured based on the consideration that the Company expects to be entitled to in exchange for the goods or services transferred. Taxes that are collected from a customer concurrent with revenue-producing activities are excluded from revenue. Disaggregated revenue, net by major source was as follows (in thousands): Three months ended Six months ended June 30, June 26, June 30, June 26, Electric Motorcycles Electric motorcycles $ 681 $ 4,874 $ 2,092 $ 6,982 Parts, accessories and apparel 81 275 152 483 $ 762 $ 5,149 $ 2,244 $ 7,465 STACYC Electric balance bikes $ 5,276 $ 6,488 $ 10,784 $ 13,810 Parts, accessories and apparel 988 869 1,760 1,632 $ 6,264 $ 7,357 $ 12,544 $ 15,442 Total Revenue, net $ 7,026 $ 12,506 $ 14,788 $ 22,907 Revenue from the sale of electric motorcycles, electric balance bikes as well as parts and accessories and apparel are recorded when control is transferred to the customer, generally at the time of shipment to independent dealers and distributors or at the time of delivery to retail customers. The Company offers sales incentive programs to independent dealers and retail customers designed to promote the sale of its products. The Company estimates its variable consideration related to its sales incentive programs using the expected value method. The Company accounts for consideration payable to a customer as part of its sales incentives as a reduction of revenue, which is accrued at the later of the date the related sale is recorded or the date the incentive program is both approved and communicated. The Company offers the right to return eligible parts and accessories and apparel. When the Company offers a right to return, it estimates returns based on an analysis of historical trends and records revenue on the initial sale only in the amount that it expects to be entitled. The remaining consideration is deferred in a refund liability account. The refund liability is remeasured for changes in the estimate at each reporting date with a corresponding adjustment to revenue. Variable consideration related to sales incentives and rights to return is adjusted at the earliest of when the amount of consideration the Company expects to receive changes, or the consideration becomes fixed. Adjustments for variable consideration related to previously recognized sales were $250 thousand during the three and six months ended June 30, 2023 and were not material for the three and six months ended June 26, 2022. Shipping and handling costs associated with freight after control of a product has transferred to a customer are accounted for as fulfillment costs. The Company accrues for the shipping and handling in the same period that the related revenue is recognized. The Company offers standard, limited warranties on its electric motorcycles, electric balance bikes, and parts and accessories. These warranties provide assurance that the product will function as expected and are not separate performance obligations. The Company accounts for estimated warranty costs as a liability when control of the product transfers to the customer. Contract Liabilities The Company maintains certain contract liability balances related to payments received at contract inception in advance of the Company’s performance under the contract that generally relates to customer deposits for electric balance bikes and electric motorcycles. Contract liabilities are recognized as revenue once the Company performs under the contract. Contract liabilities of $206 thousand and $163 thousand were included in Accrued liabilities in the Company's Consolidated balance sheets as of June 30, 2023 and December 31, 2022, respectively. Previously recorded contract liabilities recognized as revenue in the three months ended June 30, 2023 and June 26, 2022 was $85 thousand and $895 thousand, respectively, and $163 thousand and $2,185 thousand in the six months ended June 30, 2023 and June 26, 2022, respectively. The Company expects to recognize all $206 thousand of the remaining unearned revenue in 2023.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective income tax rate for the six months ended June 30, 2023 was (0.1)% compared to (0.5)% for the six months ended June 26, 2022.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The Company computes earnings per share (“EPS”) in accordance with ASC 260, Earnings per Share . Basic EPS is computed by dividing net income (loss) available to common shareholders by the weighted-average number of shares of common stock outstanding. Diluted EPS is computed using the weighted-average number of shares of common stock, plus the effect of potentially dilutive securities. The Company applies the treasury method to calculate the dilution impact of employee stock compensation awards. Because the Company has reported a net loss for all periods presented, diluted net loss per share is the same as basic net loss per share as all of the potentially dilutive shares were anti-dilutive in those periods. Computation of basic and diluted earnings per share was as follows (in thousands, except per share amounts): Three months ended Six months ended June 30, June 26, June 30, June 26, Net loss $ (40,732) $ (19,578) $ (61,879) $ (35,557) Basic weighted-average shares outstanding 202,409 161,000 202,407 161,000 Effect of dilutive securities – Warrants — — — — Effect of dilutive securities – employee stock compensation awards — — — — Diluted weighted-average shares outstanding 202,409 161,000 202,407 161,000 Earnings per share (1) : Basic $ (0.20) $ (0.12) $ (0.31) $ (0.22) Diluted $ (0.20) $ (0.12) $ (0.31) $ (0.22) (1) Earnings per share amounts are calculated discretely and, therefore, may not add up to the total due to rounding Prior to the Business Combination date, the Company did not have any issued and outstanding common stock or any common share equivalents. Accordingly, for the three and six months ended June 26, 2022, the net loss per share was calculated based on the 161,000,000 shares of Common Stock distributed to H-D in exchange for the membership interests of Legacy LiveWire. At the time of the Business Combination, additional shares of Common Stock were issued, which are reflected in the weighted average number of shares of common stock outstanding as of June 30, 2023.

Additional Balance Sheet Inform

Additional Balance Sheet Information	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Balance Sheet Information	Additional Balance Sheet Information Inventories are valued at the lower of cost or net realizable value using the first-in, first-out (“FIFO”) method for electric motorcycles and related products and average costing method for electric balance bikes. Inventories, net consisted of the following (in thousands): June 30, December 31, Raw materials and work in process $ 2,793 $ 48 Electric motorcycles and electric balance bikes 26,150 25,291 Parts and accessories and apparel 3,231 3,876 Inventories, net $ 32,174 $ 29,215 Accrued liabilities primarily include accrued capital expenditures of $4,825 thousand, accrued payroll and employee benefits of $4,428 thousand, and accrued engineering costs of $3,759 thousand as of June 30, 2023. Accrued liabilities primarily include accrued capital expenditures of $7,748 thousand, accrued payroll and employee benefits of $4,641 thousand, and accrued engineering costs of $4,377 thousand as of December 31, 2022.

Warrant Liabilities

Warrant Liabilities	6 Months Ended
	Jun. 30, 2023
Warrant Liabilities [Abstract]
Warrant Liabilities	Warrant Liabilities Upon consummation of the Business Combination, the Company assumed 30,499,990 Warrants to purchase the Company’s Common Stock, comprised of 19,999,990 public warrants, originally issued by ABIC as part of ABIC’s IPO of units (the “Public Warrants”) and 10,500,000 of outstanding warrants originally issued in a private placement in connection with the IPO of ABIC (the “Private Placement Warrants”, collectively with the Public Warrants, the “Warrants”). The Warrants expire five years from the completion of the Business Combination. There were 19,999,490 and 19,999,990 Public Warrants outstanding as of June 30, 2023 and December 31, 2022, respectively, and 10,500,000 Private Warrants outstanding as of both June 30, 2023 and December 31, 2022. Each Warrant entitles the registered holder to purchase one share of Common Stock at a price of $11.50 per share. A Warrant holder may exercise its Warrants only for a whole number of shares of Common Stock. This means only a whole Warrant may be exercised at a given time by a Warrant holder. No fractional Warrants were issued upon separation of the units and only whole warrants trade. The Company will receive the proceeds from the exercise of any warrants in cash. The Warrants will expire five years after the completion of the Business Combination, or earlier upon redemption or liquidation. Public Warrants Redemption of Warrants when the price per Common Stock share equals or exceeds $18.00: The Company may redeem the outstanding Warrants (except as described with respect to the Private Placement Warrants): • in whole and not in part; • at a price of $0.01 per Warrant; • upon not less than 30 days’ prior written notice of redemption; and • if, and only if, the reported last sales price of the Company’s Common Stock equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to the Warrant holders. Redemption of Warrants when the price per Common Stock share equals or exceeds $10.00: Once the Warrants become exercisable, the Company may redeem the outstanding Warrants: • in whole and not in part; • at $0.10 per Warrant upon a minimum of 30 days’ prior written notice of redemption provided that holders will be able to exercise their Warrants on a cashless basis prior to redemption and receive that number of shares determined by reference to the agreed table, based on the redemption date and the “fair market value” of Common Stock; • if, and only if, the closing price of the shares of Common Stock equals or exceeds $10.00 per share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a warrant) for any 20 trading days within the 30-trading day period ending three trading days before we send the notice of redemption to the Warrant holders; and • if the closing price of the shares of Common Stock for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which we send the notice of redemption to the Warrant holders is less than $18.00 per share (as adjusted for adjustments to the number of shares issuable upon exercise or the exercise price of a warrant), the Private Placement Warrants must also be concurrently called for redemption on the same terms as the outstanding Warrants, as described above. Private Placement Warrants The Private Placement Warrants have terms and provisions that are similar to those of the Public Warrants, including as to the exercise price, exercisability and exercise period. The Private Placement Warrants will not be redeemable by the Company so long as they are held by the initial purchasers of the Private Placement Warrants or its permitted transferees and the reference value exceeds $18.00 per share. The initial Private Placement Warrant purchasers, or its permitted transferees, has the option to exercise the Private Placement Warrants on a cashless basis if the reference value is between $10.00 and $18.00. If the Private Placement Warrants are held by holders other than AEA-Bridges Impact Sponsor, LLC (the “Sponsor”) or its permitted transferees, the Private Placement Warrants will be redeemable by the Company in all redemption scenarios and exercisable by the holders on the same basis as the Public Warrants. There was no redemptions and a de minimis amount of exercises of the Public Warrants during the three and six months ended June 30, 2023. There were no exercises or redemptions of the Private Warrants during the three and six months ended June 30, 2023. During the three and six months ended June 30, 2023, the Company recognized expense of $11,438 thousand and $10,370 thousand, respectively, as a change in fair value of warrant liabilities in the Consolidated statements of operations and comprehensive loss. The Company determined the Public Warrants and Private Placement Warrants do not meet the criteria to be classified in stockholders’ equity and the fair value of the warrants should be classified as a liability. The Company’s Warrant liability was $18,757 thousand and $8,388 thousand as of June 30, 2023 and December 31, 2022, respectively.

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value	Fair Value The Company assesses the inputs used to measure fair value using a three-tier hierarchy. • Level 1 inputs include quoted prices for identical instruments and are the most observable. • Level 2 inputs include quoted prices for similar assets and observable inputs. • Level 3 inputs are not observable in the market and include the Company’s judgments about the assumptions market participants would use in pricing the asset or liability. The Company’s assets and liabilities measured at fair value on a recurring basis, aggregated by the level in the fair value hierarchy within which those measurements fall, were as follows (in thousands): June 30, 2023 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 213,000 $ — $ — $ 213,000 Liabilities: Public Warrants $ 12,300 $ — $ — $ 12,300 Private Placement Warrants — 6,457 — 6,457 Share-based awards settled in cash 840 — — 840 $ 13,140 $ 6,457 $ — $ 19,597 December 31, 2022 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 257,000 $ — $ — $ 257,000 Liabilities: Public Warrants $ 5,500 $ — $ — $ 5,500 Private Placement Warrants — 2,888 — 2,888 Share-based awards settled in cash 1,618 — — 1,618 $ 7,118 $ 2,888 $ — $ 10,006 There were no significant assets or liabilities on the Company’s Consolidated balance sheets measured at fair value on a nonrecurring basis. Recurring Fair Value Measurements Money Market Funds Money market funds include highly liquid investments with an original maturity of three or fewer months, and are presented within Cash and cash equivalents in the Consolidated balance sheets. They are valued using quoted market prices in active markets and are classified under Level 1 within the fair value hierarchy. Warrant Liabilities The Public Warrants are publicly traded under the symbol “LVWR WS”, and the fair value of the Public Warrants at a specific date is determined by the closing price of the Public Warrants as of that date. As such, the Public Warrants are classified within Level 1 of the fair value hierarchy. The fair value of the Private Placement Warrants was determined using the closing price of the Public Warrants as the Private Placement Warrants have terms and provisions that are economically similar to those of the Public Warrants. The Private Placement Warrants are classified as Level 2 of the fair value hierarchy due to the use of an observable market quote for a similar asset in an active market. Share-based awards settled in cash Share-based awards settled in cash represent grants of share-based awards that will be settled with employees in cash, and are presented within Accrued liabilities and Other long-term liabilities in the Consolidated balance sheets. They are valued using the market price of the Company’s and Parent’s stock and are remeasured at each balance sheet date, and are classified under Level 1 under the fair value hierarchy. Other Fair Value Measurements The fair value of financial instruments classified as Cash and cash equivalents, Accounts receivable, net, and Accounts payable on the Consolidated balance sheets approximate carrying value due to the short-term nature and the relative liquidity of the instruments.

Product Warranty and Recall Cam

Product Warranty and Recall Campaigns	6 Months Ended
	Jun. 30, 2023
Guarantees and Product Warranties [Abstract]
Product Warranty and Recall Campaigns	Product Warranty and Recall Campaigns The Company provides a limited warranty on new electric motorcycles for a period of two years, except for the battery which is covered for five years. The Company also provides limited warranties on parts and accessories and electric balance bikes. The warranty coverage for the retail customer generally begins when the product is sold to the retail customer. The Company accrues for future warranty claims at the time of sale using an estimated cost based primarily on historical Company claim information. In the case of both warranty and recall costs, as actual experience becomes available it is used to update the accruals. Additionally, the Company may from time-to-time initiate certain voluntary recall campaigns. The Company records estimated recall costs when the liability is both probable and estimable. This generally occurs when the Company’s management approves and commits to a recall. The warranty and recall liability are included in Accrued liabilities and Other long-term liabilities on the Consolidated balance sheets. Changes in the Company’s warranty and recall liability were as follows (in thousands): Three months ended Six months ended June 30, June 26, June 30, June 26, Balance, beginning of period $ 600 $ 1,080 $ 566 $ 1,095 Warranties issued during the period 36 64 105 95 Settlements made during the period (74) (204) (106) (342) Currency Translation Adjustments — (27) — (43) Recalls and changes to pre-existing warranty liabilities — 16 (3) 124 Balance, end of period $ 562 $ 929 $ 562 $ 929 There was no liability for recall campaigns as of June 30, 2023 and December 31, 2022, respectively. As of June 26, 2022, a liability for pre-transaction recall campaigns of $266 thousand related to certain H-D branded electric motorcycles was retained by H-D in connection with the Separation and Business Combination.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contingencies – The Company is subject to claims related to product and other commercial matters. In determining costs to accrue related to these items, the Company carefully analyzes cases and considers the likelihood of adverse judgments or outcomes, as well as the potential range of possible loss. The Company accrues for matters when losses are both probable and estimable. Any amounts accrued for these matters are monitored on an ongoing basis and are updated based on new developments or new information as it becomes available for each matter. Refer to Note 9, Product Warranty and Recall Campaigns, for a discussion of warranty and recall liabilities. The Company had no material product liability claims as of June 30, 2023 and December 31, 2022, respectively. Litigation and Other Claims – The Company from time to time may be subject to lawsuits and other claims related to product, commercial, employee, environmental and other matters in the normal course of business. In determining costs to accrue related to these items, the Company carefully analyzes cases and considers the likelihood of adverse judgments or outcomes, as well as the potential range of possible loss. The Company accrues for matters when losses are both probable and estimable. Any amounts accrued for these matters are monitored on an ongoing basis and are updated based on new developments or new information as it becomes available for each matter. The Company, through H-D, also maintains insurance coverage for product liability exposures. The Company believes that its accruals and insurance coverage are adequate and there are no material exposures to loss in excess of amounts accrued and insured for losses related to these matters.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions In connection with the Business Combination, the Company entered into a number of agreements with H-D to govern the Separation and provide a framework for the relationship between the parties going forward pursuant to which the Company and/or H-D have continuing obligations to each other . All transactions with H-D subsequent to the Business Combination are considered related party transactions. Agreements that the Company entered into in connection with the Separation that resulted in related party transactions include the Transition Services Agreement, Master Services Agreement, Contract Manufacturing Agreement, Joint Development Agreement, and Tax Matters Agreement. Refer to Note 16, Related Party Transactions, of the Consolidated financial statements in the Company’s 2022 Form 10-K for additional details on the agreements entered into by the Company as part of the Separation. Related Party Sales and Purchases in the Ordinary Course of Business Transactions Associated with Service Agreements with H-D During the three and six months ended June 30, 2023, there were $3,957 thousand and $8,189 thousand, respectively, in expenses associated with services rendered in conjunction with the various service agreements with H-D, which are presented within Selling, administrative and engineering on the Consolidated statements of operations and comprehensive loss. As of June 30, 2023 and December 31, 2022, there was $16,324 thousand and $5,733 thousand due to H-D and presented as Accounts payable to related party on the Consolidated balance sheets, respectively. Of the amount outstanding to H-D as of June 30, 2023, $5,632 thousand is associated with inventory purchased under the Contract Manufacturing Agreement, $6,992 thousand is associated with services under the various service agreements with H-D, and $3,700 thousand related to a liability for excess inventory components held by H-D that the Company expects to be obligated to reimburse H-D under the terms of the Contract Manufacturing Agreement. Of the amount outstanding to H-D as of December 31, 2022, $1,942 thousand is associated with inventory purchased under the Contract Manufacturing Agreement and $3,791 thousand is associated with services under the various service agreements with H-D. During the three and six months ended June 30, 2023 , the Company purchased $1,040 thousand and $5,640 thousand, respectively, of inventory from H-D as part of the Contract Manufacturing Agreement. Other transactions Sales of electric motorcycles and related products to independent dealers and customers are primarily financed through Harley-Davidson Financial Services (“HDFS”), a wholly owned subsidiary of H-D; therefore, the Company’s accounts receivable related to these sales are recorded in Accounts receivable from related party on the Consolidated balance sheets . Amounts financed through HDFS, not yet remitted to the Company by HDFS are generally settled within 30 days. As of June 30, 2023 and December 31, 2022, there is $399 thousand and $388 thousand due from HDFS and other related receivables due from H-D, which is presented as Accounts receivable from related party on the Consolidated balance sheets, respectively. During the three and six months ended June 30, 2023, the Company recorded $5 thousand and $10 thousand, respectively, in related party sales between the Company and H-D with $3 thousand and $6 thousand, respectively, in cost of sales. All sales were for the STACYC segment which sells electric balance bikes to H-D. As of June 30, 2023 and December 31, 2022, there was $7 thousand and $137 thousand due from H-D, which is presented as Accounts receivable from related party on the Consolidated balance sheets, respectively. On September 26, 2022, the Company entered into a lease agreement with H-D to sublease a Product Development Center. This is classified as an operating lease. As of June 30, 2023, the right of use asset included within Lease assets, short-term lease liability included within Current portion of lease liabilities, and long-term lease liability included within Long-term portion of lease liabilities in the Consolidated balance sheets were $329 thousand, $143 thousand, and $186 thousand, respectively. As of December 31, 2022, the right of use asset included within Lease assets, short-term lease liability included within Current portion of lease liabilities, and long-term lease liability included within Long-term portion of lease liabilities in the Consolidated balance sheets were $398 thousand, $140 thousand, and $258 thousand, respectively. In addition, the Company incurred $44 thousand and $88 thousand, respectively, in rent expense during the three and six months ended June 30, 2023, which is included within Selling, administrative and engineering expense on the Consolidated statements of operations and comprehensive loss. Prior to the Separation, the Company did not operate as a standalone business and the Consolidated financial statements were derived from the Consolidated financial statements and accounting records of H-D. Allocation of Expenses and Related Party Activity Prior to the Separation Prior to the Business Combination, certain costs were allocated to the Company and are reflected as expenses in the Consolidated statements of operations and comprehensive loss. The Company considers the allocation methodologies used to be reasonable, such that the allocations appropriately reflected H-D’s historical expenses attributable to the Company for purposes of the Consolidated financial statements. However, the expenses reflected in the Consolidated financial statements may not be indicative of the actual expenses that would have been incurred during the periods presented if the Company had historically operated as a stand-alone independent entity. Manufacturing cost of sales The Company’s electric motorcycles are produced in manufacturing facilities shared with H-D. Certain costs of goods sold for shared facilities and shared manufacturing of $1,945 thousand and $2,808 thousand, respectively, for the three and six months ended June 26, 2022 were specifically identified or allocated, mainly based on standard cost of production. Operating expense allocation H-D provided technology support, marketing, engineering, shared assets, finance, and other corporate and administrative services such as treasury, human resources, and legal, to the Company. These expenses of $1,417 thousand and $1,707 thousand, respectively, for the three and six months ended June 26, 2022 have been allocated to the Company and are included in Selling, administrative and engineering expense in the Consolidated statements of operations and comprehensive loss, where direct assignment of costs incurred by H-D was not possible or practical. These costs were allocated using related drivers associated with the nature of the business, such as gross revenue and wholesale motorcycle shipments. As a result, the allocations of these costs fluctuated based on changes in these drivers. Other cost allocation metrics, such as headcount and square footage, were not deemed appropriate given the Company’s reliance on facilities and personnel that are shared with H-D. Cash management and financing Prior to the Business Combination, the Company’s treasury function maintained by H-D utilized a centralized approach to cash management and the financing of its operations. Under this centralized cash management approach, H-D provided funds to the Company. During the six months ended June 26, 2022, the Company borrowed $15,333 thousand under lines of credit agreements with H-D. Pursuant to the Separation Agreement, H-D elected to settle all notes payable to related party outstanding as of June 24, 2022, including accrued interest, through capital contribution and without any cash being exchanged between the Company and H-D. The settlement includes the principal amount and accrued interest of $20,766 thousand and $844 thousand, respectively. The capital contribution to settle the notes payable and accrued interest increased the Net Parent company investment. Cash transfers from H-D related to services and funding for operations provided by H-D were $32,497 thousand for the six months ended June 26, 2022. Net contributions from H-D are included within Net Parent company investment in the Consolidated statements of shareholders' equity.

Reportable Segments

Reportable Segments	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Reportable Segments	Reportable Segments The Company operates in two segments: Electric Motorcycles and STACYC. The Company’s reportable segments are strategic business units that offer different products and services and are managed separately based on the fundamental differences in their operations. The Electric Motorcycles segment consists of the business activities related to the design and sales of electric motorcycles. The Electric Motorcycles segment also sells electric motorcycle parts, accessories, and apparel. The Company’s products are sold at wholesale to a network of independent dealers and at retail through a Company-owned dealer and through online sales, and direct to customers through select international partners, primarily in the United States and Europe. The STACYC segment consists of the business activities related to the design and sales of the STACYC brand of electric balance bikes for kids. The STACYC segment also sells electric balance bike parts, accessories and apparel. STACYC products are sold in the U.S., Canada, Australia and Europe. The STACYC segment products are sold through independent retail partners in the U.S., including powersports dealers, H-D dealers, bicycle retailers and direct to consumers online. In Australia and Europe, STACYC sells its products through independent distributors. Selected segment information is set forth below (in thousands): Three months ended Six months ended June 30, June 26, June 30, June 26, Electric Motorcycles Revenue, net $ 762 $ 5,149 $ 2,244 $ 7,465 Cost of goods sold 6,092 8,554 8,532 13,627 Selling, administrative and engineering expense 26,568 16,795 50,379 30,721 Operating loss (31,898) (20,200) (56,667) (36,883) STACYC Revenue, net 6,264 7,357 12,544 15,442 Cost of goods sold 3,874 4,342 7,932 9,617 Selling, administrative and engineering expense 2,476 2,171 4,836 3,997 Operating (loss) income (86) 844 (224) 1,828 Operating loss $ (31,984) $ (19,356) $ (56,891) $ (35,055)

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 26, 2022	Mar. 27, 2022	Jun. 30, 2023	Jun. 26, 2022
Pay vs Performance Disclosure
Net loss prior to Business Combination	$ (40,732)	$ (21,147)	$ (19,578)	$ (15,979)	$ (61,879)	$ (35,557)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

New Accounting Standards (Polic

New Accounting Standards (Policies)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Standards	Recently Issued Accounting Pronouncements Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Disaggregated revenue, net by major source was as follows (in thousands): Three months ended Six months ended June 30, June 26, June 30, June 26, Electric Motorcycles Electric motorcycles $ 681 $ 4,874 $ 2,092 $ 6,982 Parts, accessories and apparel 81 275 152 483 $ 762 $ 5,149 $ 2,244 $ 7,465 STACYC Electric balance bikes $ 5,276 $ 6,488 $ 10,784 $ 13,810 Parts, accessories and apparel 988 869 1,760 1,632 $ 6,264 $ 7,357 $ 12,544 $ 15,442 Total Revenue, net $ 7,026 $ 12,506 $ 14,788 $ 22,907

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Reconciliation of Earnings Per Share Basic and Diluted	Computation of basic and diluted earnings per share was as follows (in thousands, except per share amounts): Three months ended Six months ended June 30, June 26, June 30, June 26, Net loss $ (40,732) $ (19,578) $ (61,879) $ (35,557) Basic weighted-average shares outstanding 202,409 161,000 202,407 161,000 Effect of dilutive securities – Warrants — — — — Effect of dilutive securities – employee stock compensation awards — — — — Diluted weighted-average shares outstanding 202,409 161,000 202,407 161,000 Earnings per share (1) : Basic $ (0.20) $ (0.12) $ (0.31) $ (0.22) Diluted $ (0.20) $ (0.12) $ (0.31) $ (0.22)

Additional Balance Sheet Info_2

Additional Balance Sheet Information (Tables)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Inventories, Net	Inventories, net consisted of the following (in thousands): June 30, December 31, Raw materials and work in process $ 2,793 $ 48 Electric motorcycles and electric balance bikes 26,150 25,291 Parts and accessories and apparel 3,231 3,876 Inventories, net $ 32,174 $ 29,215

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The Company’s assets and liabilities measured at fair value on a recurring basis, aggregated by the level in the fair value hierarchy within which those measurements fall, were as follows (in thousands): June 30, 2023 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 213,000 $ — $ — $ 213,000 Liabilities: Public Warrants $ 12,300 $ — $ — $ 12,300 Private Placement Warrants — 6,457 — 6,457 Share-based awards settled in cash 840 — — 840 $ 13,140 $ 6,457 $ — $ 19,597 December 31, 2022 Level 1 Level 2 Level 3 Total Assets: Money market funds $ 257,000 $ — $ — $ 257,000 Liabilities: Public Warrants $ 5,500 $ — $ — $ 5,500 Private Placement Warrants — 2,888 — 2,888 Share-based awards settled in cash 1,618 — — 1,618 $ 7,118 $ 2,888 $ — $ 10,006

Product Warranty and Recall C_2

Product Warranty and Recall Campaigns (Tables)	6 Months Ended
	Jun. 30, 2023
Guarantees and Product Warranties [Abstract]
Schedule of Warranty and Recall Liability	Changes in the Company’s warranty and recall liability were as follows (in thousands): Three months ended Six months ended June 30, June 26, June 30, June 26, Balance, beginning of period $ 600 $ 1,080 $ 566 $ 1,095 Warranties issued during the period 36 64 105 95 Settlements made during the period (74) (204) (106) (342) Currency Translation Adjustments — (27) — (43) Recalls and changes to pre-existing warranty liabilities — 16 (3) 124 Balance, end of period $ 562 $ 929 $ 562 $ 929

Reportable Segments (Tables)

Reportable Segments (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Information by Industry Segment	Selected segment information is set forth below (in thousands): Three months ended Six months ended June 30, June 26, June 30, June 26, Electric Motorcycles Revenue, net $ 762 $ 5,149 $ 2,244 $ 7,465 Cost of goods sold 6,092 8,554 8,532 13,627 Selling, administrative and engineering expense 26,568 16,795 50,379 30,721 Operating loss (31,898) (20,200) (56,667) (36,883) STACYC Revenue, net 6,264 7,357 12,544 15,442 Cost of goods sold 3,874 4,342 7,932 9,617 Selling, administrative and engineering expense 2,476 2,171 4,836 3,997 Operating (loss) income (86) 844 (224) 1,828 Operating loss $ (31,984) $ (19,356) $ (56,891) $ (35,055)

Description of Business and B_2

Description of Business and Basis of Presentation (Details) $ / shares in Units, $ in Millions		6 Months Ended
	Sep. 26, 2022 USD ($) day $ / shares shares	Jun. 30, 2023 segment $ / shares shares	Jun. 26, 2022 shares	Dec. 31, 2022 $ / shares shares
Business Acquisition
Number of reportable segments | segment		2
Recapitalization exchange ratio	1
Common stock stated value per share (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001		$ 0.0001
Common stock sold ( in shares) | shares	161,000,000		161,000,000
Proceeds sale	$ 200
Net proceeds from various related parties	$ 293.7
Common stock, share outstanding (in shares) | shares	202,402,888	202,409,000		202,403,000
Common stock issued (in shares) | shares	202,402,888	202,409,000		202,403,000
KYMCO Group
Business Acquisition
Common stock sold ( in shares) | shares	10,000,000
Sale of stock, price (in dollars per share) | $ / shares	$ 10
Proceeds sale	$ 100
Legacy Live Wire
Business Acquisition
Common stock sold ( in shares) | shares	10,000,000
Sale of stock, price (in dollars per share) | $ / shares	$ 10
Proceeds sale	$ 100
Harley Davidson
Business Acquisition
Payments of reverse capitalization	20.1
Harley Davidson | Affiliated Entity
Business Acquisition
Payment of advisory fees	20.1
ABIC
Business Acquisition
Cash acquired through reverse capitalization	13.8
Share redemption, value	368.1
Transaction cost	$ 20.6
Earn Out Shares
Business Acquisition
Derivative instrument, contingent consideration, liability (in shares) | shares	12,500,000
Intiation period post transaction closing (months)	18 months
Earn out period expiration (years)	5 years
Earn Out Shares | Derivative Instrument, Period, One
Business Acquisition
Derivative instrument, contingent consideration, liability (in shares) | shares	6,250,000
Trigger price (in dollars per share) | $ / shares	$ 14
Trading days | day	20
Consecutive trading days | day	30
Earn Out Shares | Derivative Instrument, Period, Two
Business Acquisition
Derivative instrument, contingent consideration, liability (in shares) | shares	6,250,000
Trigger price (in dollars per share) | $ / shares	$ 18
Trading days | day	20
Consecutive trading days | day	30
Back Stop Share
Business Acquisition
Derivative instrument, contingent consideration, liability (in shares) | shares	10,000,000
Derivative instrument, contingent consideration, liability	$ 100
Derivative instrument, contingent consideration, liability (in dollars per shares) | $ / shares	$ 10
Back Stop Share | Harley Davidson
Business Acquisition
Derivative instrument, contingent consideration, liability	$ 100
ABIC
Business Acquisition
Recapitalization exchange ratio	1
Common stock stated value per share (in dollars per share) | $ / shares	$ 0.0001
ABIC | Legacy Live Wire
Business Acquisition
Ownership interest acquired (percent)	100%

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 26, 2022	Jun. 30, 2023	Jun. 26, 2022
Disaggregation of Revenue
Revenue, net	$ 7,026	$ 12,506	$ 14,788	$ 22,907
Electric Motorcycles
Disaggregation of Revenue
Revenue, net	762	5,149	2,244	7,465
STACYC
Disaggregation of Revenue
Revenue, net	6,264	7,357	12,544	15,442
Electric motorcycles | Electric Motorcycles
Disaggregation of Revenue
Revenue, net	681	4,874	2,092	6,982
Parts, accessories and apparel | Electric Motorcycles
Disaggregation of Revenue
Revenue, net	81	275	152	483
Parts, accessories and apparel | STACYC
Disaggregation of Revenue
Revenue, net	988	869	1,760	1,632
Electric balance bikes | STACYC
Disaggregation of Revenue
Revenue, net	$ 5,276	$ 6,488	$ 10,784	$ 13,810

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 26, 2022	Jun. 30, 2023	Jun. 26, 2022	Dec. 31, 2022
Disaggregation of Revenue
Deferred revenue	$ 206		$ 206		$ 163
Deferred revenue on consolidated balance sheet	85	$ 895	163	$ 2,185
Variable consideration related to previously recognized sales	250	$ 0	250	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Disaggregation of Revenue
Remaining unearned revenue	$ 206		$ 206
Revenue recognized over remaining contract term	1 year		1 year

Income Taxes (Details)

Income Taxes (Details)	6 Months Ended
	Jun. 30, 2023	Jun. 26, 2022
Income Tax Disclosure [Abstract]
Effective tax rate	(0.10%)	(0.50%)

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 26, 2022	Mar. 27, 2022	Jun. 30, 2023	Jun. 26, 2022
Numerator:
Net loss	$ (40,732)	$ (21,147)	$ (19,578)	$ (15,979)	$ (61,879)	$ (35,557)
Denominator:
Basic weighted-average shares outstanding (in shares)	202,409		161,000		202,407	161,000
Effect of dilutive securities – Warrants (in shares)	0		0		0	0
Effect of dilutive securities – employee stock compensation awards (in shares)	0		0		0	0
Diluted weighted-average shares outstanding (in shares)	202,409		161,000		202,407	161,000
Earnings per share (1):
Basic (in dollars per share)	$ (0.20)		$ (0.12)		$ (0.31)	$ (0.22)
Diluted (in dollars per share)	$ (0.20)		$ (0.12)		$ (0.31)	$ (0.22)

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - shares		3 Months Ended		6 Months Ended
	Sep. 26, 2022	Jun. 30, 2023	Jun. 26, 2022	Jun. 30, 2023	Jun. 26, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock sold ( in shares)	161,000,000				161,000,000
Antidilutive securities (in shares)		42,182,000	0	47,502,000	0
Employee Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)		731,000		302,000

Additional Balance Sheet Info_3

Additional Balance Sheet Information - Schedule of Inventories, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventory [Line Items]
Raw materials and work in process	$ 2,793	$ 48
Parts and accessories and apparel	3,231	3,876
Inventories, net	32,174	29,215
Electric Motorcycles And Electric Balance Bikes
Inventory [Line Items]
Electric motorcycles and electric balance bikes	$ 26,150	$ 25,291

Additional Balance Sheet Info_4

Additional Balance Sheet Information - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Payroll and employee benefits	$ 4,428	$ 4,641
Engineering	3,759	4,377
Accrued capital expenditures	$ 4,825	$ 7,748

Warrant Liabilities (Details)

Warrant Liabilities (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 26, 2022	Jun. 30, 2023	Jun. 26, 2022	Dec. 31, 2022	Sep. 26, 2022
Class of Warrant or Right
Warrants outstanding (in shares)						30,499,990
Number or shares callable by each warrant ( in shares)	1		1
Exercise price (in dollars per share)	$ 11.50		$ 11.50
Expense from change in fair value of warrant	$ (11,438)	$ 0	$ (10,370)	$ 0
Warrant liabilities	$ 18,757		$ 18,757		$ 8,388
Public Warrants
Class of Warrant or Right
Warrants outstanding (in shares)	19,999,490		19,999,490		19,999,990	19,999,990
Warrants outstanding term	5 years		5 years
Public Warrants | Price Range One | Common Stock
Class of Warrant or Right
Redemption trigger price (in dollars per share)	$ 18		$ 18
Redemption price (in dollars per share)	0.01		0.01
Notice period for redemption of warrant	30		30
Public Warrants | Price Range Two | Common Stock
Class of Warrant or Right
Redemption trigger price (in dollars per share)	10		10
Redemption price (in dollars per share)	0.10		0.10
Notice period for redemption of warrant	$ 30		$ 30
Private Warrant
Class of Warrant or Right
Warrants outstanding (in shares)	10,500,000		10,500,000		10,500,000	10,500,000
Private Warrant | Price Range Two | Common Stock
Class of Warrant or Right
Redemption trigger price (in dollars per share)	$ 18		$ 18
Private Warrant | Price Range Two | Common Stock | Minimum
Class of Warrant or Right
Redemption trigger price (in dollars per share)	10		10
Private Warrant | Price Range Two | Common Stock | Maximum
Class of Warrant or Right
Redemption trigger price (in dollars per share)	$ 18		$ 18

Fair Value - Summary Of Assets

Fair Value - Summary Of Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Liabilities:
Share-based awards settled in cash	$ 840	$ 1,618
Liabilities, net	19,597	10,006
Public Warrants
Liabilities:
Warrants	12,300	5,500
Private Placement Warrants
Liabilities:
Warrants	6,457	2,888
Money market funds
Assets:
Money market funds	213,000	257,000
Level 1
Liabilities:
Share-based awards settled in cash	840	1,618
Liabilities, net	13,140	7,118
Level 1 | Public Warrants
Liabilities:
Warrants	12,300	5,500
Level 1 | Private Placement Warrants
Liabilities:
Warrants	0	0
Level 1 | Money market funds
Assets:
Money market funds	213,000	257,000
Level 2
Liabilities:
Share-based awards settled in cash	0	0
Liabilities, net	6,457	2,888
Level 2 | Public Warrants
Liabilities:
Warrants	0	0
Level 2 | Private Placement Warrants
Liabilities:
Warrants	6,457	2,888
Level 2 | Money market funds
Assets:
Money market funds	0	0
Level 3
Liabilities:
Share-based awards settled in cash	0	0
Liabilities, net	0	0
Level 3 | Public Warrants
Liabilities:
Warrants	0	0
Level 3 | Private Placement Warrants
Liabilities:
Warrants	0	0
Level 3 | Money market funds
Assets:
Money market funds	$ 0	$ 0

Product Warranty and Recall C_3

Product Warranty and Recall Campaigns - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 26, 2022	Mar. 27, 2022	Dec. 31, 2021
Guarantor Obligations
Liability for recall campaigns	$ 562	$ 600	$ 566	$ 929	$ 1,080	$ 1,095
Electric motorcycles
Guarantor Obligations
Standard product warranty, period	2 years
Battery For Electric Motorcycles
Guarantor Obligations
Standard product warranty, period	5 years
Recall Campaign
Guarantor Obligations
Liability for recall campaigns	$ 0		$ 0	$ 266

Product Warranty and Recall C_4

Product Warranty and Recall Campaigns - Warranty and Recall Liability (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 26, 2022	Jun. 30, 2023	Jun. 26, 2022
Movement in Standard Product Warranty Accrual
Balance, beginning of period	$ 600	$ 1,080	$ 566	$ 1,095
Warranties issued during the period	36	64	105	95
Settlements made during the period	(74)	(204)	(106)	(342)
Currency Translation Adjustments	0	(27)	0	(43)
Recalls and changes to pre-existing warranty liabilities	0	16	(3)	124
Balance, end of period	$ 562	$ 929	$ 562	$ 929

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 26, 2022	Jun. 30, 2023	Jun. 26, 2022	Dec. 31, 2022
Related Party Transaction
Selling, administrative and engineering expense	$ 29,044	$ 18,966	$ 55,215	$ 34,718
Revenue, net	7,026	12,506	14,788	22,907
Cost of goods sold	9,966	12,896	16,464	23,244
Lease assets	2,538		2,538		$ 3,128
Operating lease, liability, current	1,385		1,385		1,312
Operating lease, liability, noncurrent	1,244		1,244		1,913
Manufacturing costs		1,945		2,808
Operating expenses		1,417		1,707
Related party debt borrowings			0	15,333
Capital contribution from parent			0	32,497
Cash Management And Financing
Related Party Transaction
Capital contribution from parent				32,497
Harley Davidson Inc. | Service Agreement
Related Party Transaction
Inventory purchased from related party	1,040		5,632		1,942
Service from related party			6,992		3,791
Related Party, liability for excess inventory held	3,700		3,700
Line of Credit | Cash Management And Financing
Related Party Transaction
Related party debt borrowings				15,333
Repayments of related party debt				20,766
Related Party
Related Party Transaction
Accounts payable	16,324		16,324		5,733
Accounts receivable, net	407		407		525
Related Party | Service Agreement
Related Party Transaction
Accounts payable	16,324		16,324		5,733
Related Party | Harley Davidson Inc. | Service Agreement
Related Party Transaction
Selling, administrative and engineering expense	3,957		8,189
Inventory purchased from related party			5,640
Related Party | Harley Davidson Inc. | Sales
Related Party Transaction
Accounts receivable, net	7		7		137
Revenue, net	5		10
Cost of goods sold	3		6
Related Party | Harley Davidson Inc. | Lease Agreement
Related Party Transaction
Lease assets	329		329		398
Operating lease, liability, current	143		143		140
Operating lease, liability, noncurrent	186		186		258
Operating lease, rent expense	44		88
Related Party | Electric motorcycles | Harley Davidson Inc. | Sales
Related Party Transaction
Accounts receivable, net	$ 399		$ 399		$ 388
Related Party | Line of Credit | Cash Management And Financing
Related Party Transaction
Interest payable		$ 844		$ 844

Reportable Segments - Narrative

Reportable Segments - Narrative (Details)	6 Months Ended
	Jun. 30, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Reportable Segments - Informati

Reportable Segments - Information By Strategic Business Units (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 26, 2022	Jun. 30, 2023	Jun. 26, 2022
Segment Reporting Information
Revenue, net	$ 7,026	$ 12,506	$ 14,788	$ 22,907
Cost of goods sold	9,966	12,896	16,464	23,244
Selling, administrative and engineering expense	29,044	18,966	55,215	34,718
Operating loss	(31,984)	(19,356)	(56,891)	(35,055)
Electric Motorcycles
Segment Reporting Information
Revenue, net	762	5,149	2,244	7,465
Cost of goods sold	6,092	8,554	8,532	13,627
Selling, administrative and engineering expense	26,568	16,795	50,379	30,721
Operating loss	(31,898)	(20,200)	(56,667)	(36,883)
STACYC
Segment Reporting Information
Revenue, net	6,264	7,357	12,544	15,442
Cost of goods sold	3,874	4,342	7,932	9,617
Selling, administrative and engineering expense	2,476	2,171	4,836	3,997
Operating loss	$ (86)	$ 844	$ (224)	$ 1,828