Worksport ( (WKSP) ) has provided an update.
Worksport Ltd. reported a transformative fiscal year 2024 with a 455% increase in revenue, reaching $8.48 million, driven by strong online sales and expanded business-to-business deals. The company enhanced its profitability through strategic shifts to higher-margin products and strengthened its financial position with increased cash reserves and inventory to meet anticipated demand. Looking ahead to 2025, Worksport projects significant revenue growth and margin expansion, supported by new product launches and a focus on operational efficiency, aiming for potential profitability by year-end.
More about Worksport
Worksport Ltd. is a U.S.-based manufacturer and innovator specializing in hybrid and clean energy solutions, primarily serving the light truck, overlanding, and global consumer goods sectors.
YTD Price Performance: -60.11%
Average Trading Volume: 123,701
Technical Sentiment Signal: Strong Buy
Current Market Cap: $17.6M
For detailed information about WKSP stock, go to TipRanks’ Stock Analysis page.