Worksport Secures Second National Distributor & Projects $21.5M in Repeatable B2B Revenue
Dealer Network Expands now toover 550 U.S. Locations; Recurring Revenue Expected to Further Accelerate in2025.
West Seneca, New York, June 10,2025 — Worksport Ltd. (NASDAQ: WKSP) (“Worksport” or the “Company”), aU.S. based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, todayannounced a significant milestone: the addition of a second national automotive distributor. This strategic agreement expands the Company’s partnered dealer network to over 550 locations across the United States—representing anearly 6x increase since the beginning of 2025.
This momentum marks Worksport’s second national distribution agreement in under two months, following its April2025 partnership with Patriot Auto Group, which brought over 200 dealers underthe Worksport dealer network. The newest agreement adds access to approximately250 additional dealer accounts, further accelerating the Company’s penetrationinto high-value retail markets through strategically aligned partners.
Repeatable Revenue at Scale Projected to Exceed $21.5 Million—With Room to Grow
With more than 450 new account sadded year-to-date, up from 94 at the start of the year, Worksport’s U.S.dealer network is expanding rapidly. As of today, the Company actively sells to 187 of its 550 dealer partners, with new accounts joining weekly.
At full activation, Worksport estimates these channels can support over $21.5 million in annual repeatable revenue, alone (not including B2C sales via its online platform),driven by ongoing B2B traction and demand for its premium, American-made tonneau covers. Importantly, this figure reflects revenue potential at current scale—a number that management expects to grow meaningfully as dealer on boarding continues through the second half of this year.
Management reaffirms full-year 2025 revenue guidance of $20-$25 million,representing a 2.5-3x increase year-over-year. This surge is supported by strong dealer adoption, expanding product availability, and increasing gross margins across all sales channels.
“Our strategic focus on supporting U.S. brick-and-mortar retailers with Made-in-America products continues to prove itself,” said Steven Rossi, Chief Executive Officer of Worksport. “This milestone validates the strength of our distribution model and the surging demand for competitively priced,high-quality truck accessories. With more than 17,000 potential dealer locations across the country, we’ve only begun to tap into our total addressable market. Following a 157% year-over-year increase in gross marginin Q1 2025, we are extremely optimistic about the road ahead.”
Momentum Accelerates Across All Sales Channels
In parallel with its expanding wholes ale network, Worksport is maintaining strong performance in itsdirect-to-consumer (DTC) segment, generating approximately $1 million in monthly e-commerce revenue – and growing. This dual-channel model—B2B andDTC—is expected to deliver sustained top-line growth through the remainder of 2025, reinforcing the Company’s diversified revenue base and acceleratingoverall scalability.
These developments come ahead of the anticipated Fall 2025 commercial launch of SOLIS, Worksport’s patented solar-integrated tonneau cover, and COR, its portable energy storage system. Together, these products are positioned to unlock new, higher-margin revenue streams inmulti-billion-dollar clean-tech and off-grid power markets—well beyond the Company’s core automotive footprint.
Strategic Outlook: Positioned for Multi-Vector Growth
With two national distributors onboard, scalable B2B infrastructure in place, andhigh-impact clean energy products nearing launch, Worksport is now executing across multiple growth vectors. The Company remains focused on capturinggreater market share, enhancing operational efficiencies, and advancing toward sustainable profitability and positive cash flow in fiscal 2025 and beyond. Worksport’ss ales team is actively working to establish additional meaningful, strategic B2B reseller accounts within the US and Canadian markets.
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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.
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