BREAKING: Worksport Posts Fourth Consecutive Monthly Sales Record in July 2025; Gross Margin Reaches 31% Goal One Quarter Early
BREAKING: Worksport Posts Fourth Consecutive Monthly Sales Record in July 2025; Gross Margin Reaches 31% Goal One Quarter Early
CEO to Appear Live on Schwab Network’s Market on Close Today at 3:15 p.m. ET. Worksport projects cash flow positivity in near term.
West Seneca, New York, August 25, 2025 – Worksport Ltd. (NASDAQ:WKSP) (“Worksport” or the “Company”), a U.S.-based innovator and manufacturer of hybrid and clean energy solutions primarily for the light truck, overlanding, and global consumer goods markets, today reported that July2025 revenue reached $1.71 million (unaudited), marking the fourth consecutive monthly sales record. In tandem, gross margin expanded to31% in July, meaning Worksport achieved its year-end 30% margin goal one quarter early. The Company expects a continual upward trend in revenue and gross margin.
Breaking News – Live National Interview Today:
Worksport also announced that Chief Executive Officer Steven Rossi will be interviewed live today at 3:15 p.m. ET on Schwab Network’s Market on Close to discuss the July results and outlook. Watch live: [Live Stream Link] | Replay: [Replay Link]
The conversation is expected to cover Worksport’s accelerating growth, Made-in-America manufacturing strategy, tariff-related industry tailwinds, government and public-sector opportunities, and upcoming product launches, including the SOLIS solar-integrated tonneau cover and COR portable power system.
Operating Momentum and Financial Highlights
· Four straight monthly records:
o April (~$1.2M), May (~$1.3M) June (~$1.6M), July ($1.71M).
· Gross margin ramp:
o 31% in July, up from 26% in Q22025, 18% in Q1 2025, and 11% in Q4 2024.
· Annualized run-rate (non-GAAP):
o July performance paces above $20M+. Expected to continue to grow every month.
· Production strength:
o July production reached the Company’s strongest levels to date, driven by scale and manufacturing efficiencies.
· Product catalysts:
o HD3heavy-duty tonneau cover (expected Q3);
o SOLIS solar cover and COR modular power system (expected Q4).
o Proprietary Zero Frost™ Heat Pump Technology(expected 2026)
CEO Commentary
“Four consecutive record months and 31% gross margin underscore that our U.S. manufacturing model and American-made products are winning in the marketplace,” said Steven Rossi, Worksport CEO. “We believe our execution is positioning Worksport on a disciplined path toward sustained profitability and long-term share holder value. With HD3, SOLIS, and COR on deck this year – and continued operational scale – we see a compelling setup for the back half of 2025.”
Outlook
At July’s run rate (non-GAAP), Worksport remains on track for at least $20 million top-line revenue in 2025 revenue with consistent 30%+ gross margin by year-end. The Company expects HD3 (Q3) and SOLIS/COR (Q4) to serve as additional growth catalysts as commercialization expands across branded and higher-margin channels.
Growth Trajectory
At July’s run rate, Worksport is pacing above $20M+ in annualized sales(non-GAAP), in line with reaffirmed full-year guidance. Management continues to expect full-year 2025 revenue of at least $20million with gross margins consistent at 30%+ by year-end. The Company anticipates the upcoming launches of itsHD3 heavy-duty tonneau cover (Q3) and its flagship SOLIS solar tonneau and COR portable power system (Q4) will add further growth catalysts.
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Contacts
Investor Relations, Worksport Ltd. T: 1 (888) 554-8789-128
W: investors.worksport.com W: www.worksport.com E: investors@worksport.com
Connect with Worksport Chief Executive Officer, Steven Rossi
Steven Rossi X (Twitter)
Steven Rossi LinkedIn
About Worksport
Worksport Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions. Worksport has an active partnership with Hyundai for the SOLIS Solar cover. Additionally, Worksport’s 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. 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. Terravis Energy’s website is terravisenergy.com.
Connect with Worksport
Please follow the Company’s social media accounts on X (previously Twitter), Facebook,
LinkedIn, YouTube, and Instagram (collectively, the “Accounts”), the links of which are links to external third-party websites, as well as sign up for the Company’s newsletters at investors.worksport.com.
Social Media Disclaimer
The Company does not endorse, ensure the accuracy of, or accept any responsibility for any content on these third-party websites other than content published by the Company. Investors and others should note that the Company announces material financial information to our investors using our investor relations website, press releases, Securities and Exchange Commission (SEC”) filings, and public conference calls and webcasts. The Company also uses social media to announce Company news and other information. The Company encourages investors, the media, and others to review the information the Company publishes on social media. The Company does not selectively disclose material non-public information on social media. If there is any significant financial information, the Company will release it broadly to the public through a press release or SEC filing prior to publishing it on social media.
Forward-Looking Statements
The information contained herein may contain “forward‐looking statements.”Forward‐looking statements reflect the current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,”“scheduled,” “expect,” “future,” “intend,” “plan,” “project,” “envisioned,”“should,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking 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 the seforward-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 non acceptance 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’s 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’s web site at www.sec.gov. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company’s actual results may differ materially fromthe 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 under takes no obligation to update them to reflect subsequent events or circumstances.
