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 forthe light truck, overlanding, and global consumer goods sectors, todayannounced a significant milestone: the addition of a second national automotivedistributor. This strategic agreement expands the Company’s partnered dealernetwork to over 550 locations across the United States—representing anearly 6x increase since the beginning of 2025.
This momentum marks Worksport’ssecond 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.
RepeatableRevenue at Scale Projected to Exceed $21.5 Million—With Room to Grow
With more than 450 new accountsadded 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 to187 of its 550 dealer partners, with new accounts joining weekly.
At full activation, Worksportestimates these channels can support over $21.5 million in annual repeatablerevenue, alone (not including B2C sales via its online platform),driven by ongoing B2B traction and demand for its premium, American-madetonneau covers. Importantly, this figure reflects revenue potential at currentscale—a number that management expects to grow meaningfully as dealeronboarding 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 supportedby strong dealer adoption, expanding product availability, and increasing grossmargins across all sales channels.
“Ourstrategic focus on supporting U.S. brick-and-mortar retailers withMade-in-America products continues to prove itself,” said Steven Rossi, ChiefExecutive Officer of Worksport. “This milestone validates the strength of ourdistribution model and the surging demand for competitively priced,high-quality truck accessories. With more than 17,000 potential dealerlocations across the country, we’ve only begun to tap into our totaladdressable market. Following a 157% year-over-year increase in gross marginin Q1 2025, we are extremely optimistic about the road ahead.”
Momentum Accelerates AcrossAll Sales Channels
In parallel with its expandingwholesale network, Worksport is maintaining strong performance in itsdirect-to-consumer (DTC) segment, generating approximately $1 million inmonthly e-commerce revenue – and growing. This dual-channel model—B2B andDTC—is expected to deliver sustained top-line growth through the remainder of2025, reinforcing the Company’s diversified revenue base and acceleratingoverall scalability.
These developments come ahead of the anticipated Fall2025 commercial launch of SOLIS, Worksport’s patented solar-integratedtonneau 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 theCompany’s core automotive footprint.
Strategic Outlook: Positionedfor Multi-Vector Growth
With twonational distributors onboard, scalable B2B infrastructure in place, andhigh-impact clean energy products nearing launch, Worksport is now executingacross multiple growth vectors. The Company remains focused on capturinggreater market share, enhancing operational efficiencies, and advancing toward sustainableprofitability and positive cash flow in fiscal 2025 and beyond. Worksport’ssales team is actively working to establish additional meaningful, strategicB2B reseller accounts within the US and Canadian markets.
For further information:
Investor Relations, Worksport Ltd. T:1 (888) 554-8789 -128
W: investors.worksport.com W: www.worksport.com E: investors@worksport.com
Join: Worksport’sNewsletter
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.
Connectwith 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.
SocialMedia Disclaimer
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.
