Worksport Reports Q2 2025 Top-Line Revenue, Signals Profitability on Horizon with Expanding Margins and Product Momentum
Worksport (NASDAQ: WKSP) reported strong Q2 2025 results, with unaudited revenue reaching $4.1 million, an 83% increase from Q1 2025's $2.24 million. The company achieved significant margin expansion, with gross margins improving from 17.7% to 26.0% quarter-over-quarter.
The performance validates Worksport's strategic shift from lower-margin private label production to a Made in America brand focus. The company expects to exceed 30% gross margins by year-end and projects $20M in full-year revenue. Additionally, Worksport plans to launch its innovative SOLIS Solar Tonneau Cover and COR Portable Energy System in late 2025, targeting high-margin clean energy markets.
Worksport (NASDAQ: WKSP) ha riportato risultati solidi per il secondo trimestre del 2025, con ricavi non revisionati che hanno raggiunto i 4,1 milioni di dollari, registrando un incremento dell'83% rispetto ai 2,24 milioni di dollari del primo trimestre 2025. L'azienda ha ottenuto una significativa espansione dei margini, con i margini lordi che sono passati dal 17,7% al 26,0% trimestre su trimestre.
Queste performance confermano la strategia di Worksport di spostarsi dalla produzione a marchio privato a basso margine verso un brand Made in America. L'azienda prevede di superare un margine lordo del 30% entro fine anno e stima 20 milioni di dollari di ricavi per l'intero anno. Inoltre, Worksport intende lanciare entro la fine del 2025 il suo innovativo SOLIS Solar Tonneau Cover e il COR Portable Energy System, puntando ai mercati ad alto margine dell'energia pulita.
Worksport (NASDAQ: WKSP) report贸 s贸lidos resultados en el segundo trimestre de 2025, con ingresos no auditados que alcanzaron los 4,1 millones de d贸lares, un aumento del 83% respecto a los 2,24 millones de d贸lares del primer trimestre de 2025. La compa帽铆a logr贸 una expansi贸n significativa de m谩rgenes, con m谩rgenes brutos que mejoraron del 17,7% al 26,0% trimestre tras trimestre.
Este desempe帽o valida el cambio estrat茅gico de Worksport, que pas贸 de la producci贸n de marca privada con m谩rgenes bajos a enfocarse en una marca Made in America. La empresa espera superar un margen bruto del 30% para fin de a帽o y proyecta 20 millones de d贸lares en ingresos anuales. Adem谩s, Worksport planea lanzar a finales de 2025 su innovador SOLIS Solar Tonneau Cover y el COR Portable Energy System, apuntando a mercados de energ铆a limpia con altos m谩rgenes.
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Worksport (NASDAQ : WKSP) a annonc茅 de solides r茅sultats pour le deuxi猫me trimestre 2025, avec un chiffre d'affaires non audit茅 atteignant 4,1 millions de dollars, soit une augmentation de 83% par rapport aux 2,24 millions de dollars du premier trimestre 2025. L'entreprise a r茅alis茅 une expansion significative de ses marges, les marges brutes passant de 17,7% 脿 26,0% d'un trimestre 脿 l'autre.
Cette performance confirme le virage strat茅gique de Worksport, qui est pass茅 d'une production 脿 faible marge sous marque blanche 脿 une marque Made in America. La soci茅t茅 pr茅voit de d茅passer un marge brute de 30% d'ici la fin de l'ann茅e et projette un chiffre d'affaires annuel de 20 millions de dollars. Par ailleurs, Worksport compte lancer fin 2025 son innovant SOLIS Solar Tonneau Cover et COR Portable Energy System, ciblant les march茅s 脿 forte marge des 茅nergies propres.
Worksport (NASDAQ: WKSP) meldete starke Ergebnisse f眉r das zweite Quartal 2025, mit ungepr眉ften Ums盲tzen von 4,1 Millionen US-Dollar, was einem 83%igen Anstieg gegen眉ber 2,24 Millionen US-Dollar im ersten Quartal 2025 entspricht. Das Unternehmen erzielte eine signifikante Margenausweitung, wobei die Bruttomargen von 17,7% auf 26,0% Quartal f眉r Quartal stiegen.
Die Performance best盲tigt die strategische Neuausrichtung von Worksport von der Produktion mit niedrigen Margen im Private-Label-Bereich hin zu einer Marke 鈥濵ade in America鈥�. Das Unternehmen erwartet, bis Jahresende Bruttomargen von 眉ber 30% zu erreichen und prognostiziert einen Jahresumsatz von 20 Millionen US-Dollar. Zus盲tzlich plant Worksport Ende 2025 die Einf眉hrung des innovativen SOLIS Solar Tonneau Cover und des COR Portable Energy System, mit Fokus auf margenstarke M盲rkte f眉r saubere Energie.
- None.
- Company not yet profitable, though moving towards profitability
- New SOLIS and COR products still in Beta testing phase
Insights
Worksport's Q2 results show 83% revenue growth with expanding margins, indicating successful strategic pivot toward profitability.
Worksport's Q2 2025 results represent a significant inflection point in the company's turnaround strategy. Revenue jumped to
The margin expansion trajectory is particularly noteworthy. June 2025 delivered their highest monthly gross margin to date, with management projecting margins exceeding
Management's
The upcoming SOLIS Solar Tonneau Cover and COR Portable Energy System represent significant potential catalysts. These proprietary clean-energy products, currently in beta testing, target high-margin markets including portable power, overlanding, grid-resilient utility, and EV charging. The SOLIS cover has demonstrated solar production exceeding 500W, while the COR system has shown Level 1 EV charging capability, including Tesla compatibility - critical technical validations that suggest the products are commercially viable.
Company Achieves Breakout Quarter as Turnaround Strategy Gains Traction; Clean-Tech Product Launches Poised to Accelerate Growth
West Seneca, New York, July 10, 2025 (GLOBE NEWSWIRE) -- Worksport Ltd.聽(NASDAQ: WKSP) (鈥淲orksport鈥� or the 鈥淐ompany鈥�), a U.S. based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, today announced unaudited Q2 2025 topline results, delivering a breakout quarter that is expected to position the Company for sustainable profitability and long-term growth.
The Company delivered unaudited revenue of聽
In parallel,听gross margins increased
Momentum Building Toward Strong EBITA
鈥淭his quarter鈥檚 topline and margin performance validates the steps we鈥檝e taken over the last year,鈥� said聽Steven Rossi, CEO of Worksport. 鈥淲e鈥檙e executing on all cylinders - sales are scaling, margins are improving, and we鈥檙e laying the groundwork for sustainable profitability. The real catalyst lies just ahead with the launch of our innovative SOLIS and COR .
Flagship Product Launches to Unlock Additional Revenue Streams
Worksport鈥檚 upcoming聽SOLIS Solar Tonneau Cover听补苍诲听COR Portable Energy System鈥攂oth in Beta testing in North America鈥攁re scheduled for commercial launch in late 2025. Together, these proprietary technologies will form a modular clean-energy nano-grid, targeting high margin multi-billion-dollar markets, ranging from portable power to overlanding, grid-resilient utility, and EV range top-up.
As previously reported, Worksport鈥檚 patented SOLIS cover successfully produced more than 500W of solar power, while the COR system demonstrated charging capabilities, including for Tesla vehicles. Market response to early testing has been strong, with additional updates expected in the Company鈥檚 Q3 2025 earnings call.
Full Q2 Report and Earnings Call Coming Mid-August
鈥淎s we turn the corner on our strategy for strong EBITA and profitability, we are seeing impressive alignment of the Company鈥檚 fundamentals in a way that unlocks shareholder value,鈥� added Rossi. 鈥淲ith strong revenue growth, expanding margins, and disruptive new products launching in 2025, Worksport is emerging as one of the most exciting stories on the small-cap growth radar. The best is yet to come and just around the corner.鈥�
The full Q2 2025 financial statements and earnings call are scheduled for mid-August. The Company also recently announced output and further traction in B2C and B2B sales, reinforcing its revenue trajectory. Management has previously projected in full-year revenue, with a clear anticipated path to聽cash flow positivity.
More information will be made available in the near future regarding the Company鈥檚 COR Portable Energy System & SOLIS Solar Tonneau Cover commercial launches, including final release specifications, pricing, and go to market strategy, among other topics.
For further information:
Investor Relations, Worksport Ltd. T: 1 (888) 554-8789 -128
奥:听 奥:听 贰:听
About Worksport
Worksport Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of聽tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions.聽Worksport has an active partnership with Hyundai for the SOLIS Solar cover. Additionally, Worksport鈥檚 hard-folding cover, designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers including the electric vehicle (EV) sector.聽Worksport seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations with its proprietary solar solutions, mobile energy storage systems (ESS), and Cold-Climate Heat Pump (CCHP) technology.聽Terravis Energy鈥檚 website is聽.
Connect with Worksport
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The information contained herein may contain 鈥渇orward鈥恖ooking statements.鈥� Forward鈥恖ooking statements reflect the current view about future events. When used in this press release, the words 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渆stimate,鈥� 鈥渟cheduled,鈥� 鈥渆xpect,鈥� 鈥渇uture,鈥� 鈥渋ntend,鈥� 鈥減lan,鈥� 鈥減roject,鈥� 鈥渆nvisioned,鈥� 鈥渟hould," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward鈥恖ooking statements. These statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial situation may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) supply chain delays; (ii) acceptance of our products by consumers; (iii) delays in or nonacceptance by third parties to sell our products; and (iv) competition from other producers of similar products. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company鈥檚 filings with the SEC, including, without limitation, our latest Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC鈥檚 web site at . As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company鈥檚 actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. The forward-looking statements made in this press release are made only as of the date of this press release, and the Company undertakes no obligation to update them to reflect subsequent events or circumstances.
FAQ
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