LiveWire Group Inc. (LVWR) saw its stock soar 5.21% in pre-market trading on Wednesday, despite reporting lower revenue for the fourth quarter and full year 2024. The electric motorcycle maker's shares gained ground as it unveiled initiatives to rein in costs and reduce cash burn, positioning the company for improved profitability in 2025.

For the full year 2024, LiveWire reported a 30% decline in consolidated revenue to $26.6 million, driven by lower sales of its electric motorcycles and STACYC electric balance bikes for kids. However, the company managed to narrow its operating loss by 5% to $110.4 million, thanks to a $12.6 million reduction in selling, administrative, and engineering expenses.

Looking ahead, LiveWire expects to reduce its cash burn by 40% or more in 2025 compared to 2024. The company forecasts operating losses of $70 million to $80 million for the full year 2025, while targeting electric motorcycle sales of 1,000 to 1,500 units. LiveWire's CEO, Karim Donnez, expressed confidence in the company's ability to improve its fundamentals and achieve long-term success, citing its world-class products, top-notch team, and strong retail partnerships.