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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 endedSix months ended
June 30,
2023
June 26,
2022
June 30,
2023
June 26,
2022
Electric Motorcycles
Revenue, net$762 $5,149 $2,244 $7,465 
Cost of goods sold6,0928,5548,53213,627
Selling, administrative and engineering expense26,56816,79550,37930,721
Operating loss (31,898)(20,200)(56,667)(36,883)
STACYC
Revenue, net6,2647,35712,54415,442
Cost of goods sold3,8744,3427,9329,617
Selling, administrative and engineering expense2,4762,1714,8363,997
Operating (loss) income(86)844(224)1,828
Operating loss$(31,984)$(19,356)$(56,891)$(35,055)