Worksport Reports Q2 2025 Top-Line Revenue, Signals Profitability on Horizon with Expanding Margins and Product Momentum
Worksport Reports Q2 2025 Top-LineRevenue, Signals Profitability on Horizon with Expanding Margins and ProductMomentum
Company Achieves Breakout Quarteras Turnaround Strategy Gains Traction; Clean-Tech Product Launches Poised toAccelerate Growth
West Seneca, New York, July 10, 2025 — Worksport Ltd. (NASDAQ:WKSP) (“Worksport” or the “Company”), a U.S. based manufacturer andinnovator of hybrid and clean energy solutions for the light truck,overlanding, and global consumer goods sectors, today announced unaudited Q22025 topline results, delivering a breakout quarterthat is expected to position the Company for sustainable profitability andlong-term growth.
The Company delivered unaudited revenueof $4.1 million in Q2 2025, marking an 83% increase overQ1 2025 revenue of $2.24 million.Theresults mark a major validation of the Company’s strategic pivot away fromlower-margin private label production,underscoring management’s strategic focus on a strong Made in America brand witha robust supply chain substantially within the USA.
In parallel, gross marginsincreased 47%, rising from 17.7% in Q1 to 26.0% in Q2. June2025 recorded the Company’s highest monthly gross margin to date, with Worksporton track to exceed 30% gross margins by year-end, setting the stage for strong operating leverage.
Momentum Building Toward Strong EBITA
“This quarter’s topline and margin performancevalidates the steps we’ve taken over the last year,” said Steven Rossi,CEO of Worksport. “We’re executing on all cylinders - sales are scaling,margins are improving, and we’re laying the groundwork for sustainableprofitability. The real catalyst lies just ahead with the launch of our innovativeSOLIS and COR nano-grid system.
Flagship Product Launches to UnlockAdditional Revenue Streams
Worksport’s upcoming SOLIS SolarTonneau Cover and COR Portable Energy System—both in Beta testingin North America—are 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 fromportable power to overlanding, grid-resilient utility, and EV range top-up.
As previously reported, Worksport’s patentedSOLIS cover successfully produced more than 500W of solar power, while the CORsystem demonstrated Level 1 EV charging capabilities, including forTesla vehicles. Market response to early testing has been strong, withadditional updates expected in the Company’s Q3 2025 earnings call.
Full Q2 Report and Earnings Call ComingMid-August
“As we turn the corner on our strategy forstrong EBITA and profitability, we are seeing impressive alignment of theCompany’s fundamentals in a way that unlocks shareholder value,” added Rossi.“With strong revenue growth, expanding margins, and disruptive new productslaunching in 2025, Worksport is emerging as one of the most exciting storieson the small-cap growth radar. The best is yet to come and just around thecorner.”
The full Q2 2025 financial statements andearnings call are scheduled for mid-August. The Company also recently announcedrecord productionoutput and further traction in B2C and B2B sales, reinforcing its revenuetrajectory. Management has previously projected $20M infull-year revenue, with a clear anticipated path to cashflow positivity.
More information will be made available in thenear future regarding the Company’s COR Portable Energy System & SOLISSolar Tonneau Cover commercial launches, including final releasespecifications, pricing, and go to market strategy, among other topics.
For further information:
InvestorRelations, Worksport Ltd. T: 1 (888) 554-8789 -128
W: investors.worksport.com W: www.worksport.com E: investors@worksport.com
About Worksport
Worksport Ltd. (Nasdaq: WKSP),through its subsidiaries, designs, develops, manufactures, and owns theintellectual property on a variety of tonneau covers, solar integrations,portable power systems, and clean heating & cooling solutions. Worksporthas an active partnership with Hyundai for the SOLIS Solar cover. Additionally,Worksport’s hard-folding cover, designed and manufactured in-house, iscompatible with all major truck models and is gaining traction with newer truckmakers including the electric vehicle (EV) sector. Worksport seeks tocapitalize on the growing shift of consumer mindsets towards clean energyintegrations with its proprietary solar solutions, mobile energy storagesystems (ESS), and Cold-Climate Heat Pump (CCHP) technology. TerravisEnergy’s website is terravisenergy.com.
Connect with Worksport
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The Company does not endorse, ensure theaccuracy of, or accept any responsibility for any content on these third-partywebsites other than content published by the Company. Investors and others should note that the Companyannounces material financial information to our investors using our investorrelations website, press releases, Securities and Exchange Commission (SEC”)filings, and public conference calls and webcasts. The Company also uses socialmedia to announce Company news and other information. The Company encouragesinvestors, the media, and others to review the information the Companypublishes on social media. The Company does not selectively disclose materialnon-public information on social media. If there is any significant financialinformation, the Company will release it broadly to the public through a pressrelease or SEC filing prior to publishing it on social media.
Forward-LookingStatements
The informationcontained herein may contain “forward‐lookingstatements.” Forward‐lookingstatements reflect the current view about future events. When used in thispress 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 orour management, identify forward‐lookingstatements. These statements are neither historical facts nor assurances of futureperformance. Instead, they are based only on our current beliefs, expectationsand assumptions regarding the future of our business, future plans andstrategies, projections, anticipated events and trends, the economy and otherfuture conditions. Because forward-looking statements relate to the future,they are subject to inherent uncertainties, risks and changes in circumstancesthat are difficult to predict and many of which are outside of our control. Ouractual results and financial situation may differ materially from thoseindicated in the forward-looking statements. Therefore, you should not rely onany of these forward-looking statements. Important factors that could cause ouractual results and financial condition to differ materially from thoseindicated in the forward-looking statements include, among others, thefollowing: (i) supply chain delays; (ii) acceptance of our products byconsumers; (iii) delays in or nonacceptance by third parties to sell ourproducts; and (iv) competition from other producers of similar products. Moredetailed information about the Company and the risk factors that may affect therealization of forward-looking statements is set forth in the Company’s filingswith the SEC, including, without limitation, our latest Annual Report on Form10-K and our Quarterly Reports on Form 10-Q. Investors and security holders areurged to read these documents free of charge on the SEC’s web site at www.sec.gov. As aresult of these matters, changes in facts, assumptions not being realized orother circumstances, the Company’s actual results may differ materially fromthe expected results discussed in the forward-looking statements contained inthis press release. The forward-looking statements made in this press releaseare made only as of the date of this press release, and the Company undertakesno obligation to update them to reflect subsequent events or circumstances.
