Harley-Davidson electric motorcycle spinoff LiveWire warns it may not survive

• It remains majority owned by Harley.

Driving the news: LiveWire on Thursday issued a "going concern" notice, acknowledging that "conditions and events raise substantial doubt" about the company's ability to survive as a standalone company over the next year.

• "The Company's recurring operating losses, negative cash flows from operations, limited liquidity resources, and anticipated future funding requirements contributed to this determination," LiveWire said in the filing.

Zoom in: LiveWire's growth plans haven't materialized.

• The company sold only 241 electric motorcycles in the third quarter, up 31% from a year earlier. It also sells electric balance bikes for kids — a business that had more revenue than its electric motorcycle division in the period.
• LiveWire posted an $18.6 million net loss in the third quarter on revenue of $7.9 million.
• Its shares fell over 35% after the opening bell to $1.02.

What we're watching: LiveWire said it "continues to evaluate and pursue comprehensive financing and other strategic alternatives, which may include significant capital raises, strategic partnerships or investments, sales, and other strategic transactions."

• A Harley rep did not immediately respond to a request for comment.

💭 Nathan's thought bubble: LiveWire's potential demise is a black eye for Harley, but Harley has otherwise had a strong year, with recovering sales leading to a 46% lift in its stock price.