Worksport sees FY25 revenue $20M-$34.5M, consensus $27.09M

Worksport (WKSP) expects FY 2025 net sales in the range of $20M to $34.5M, driven by growing demand for its premium hard-folding covers, the upcoming SOLIS solar-integrated tonneau, and COR mobile battery system. With production scaling, a shift away from lower-margin private-label lines, and the launch of higher-value products, the Company anticipates gross margins reaching 25%-30% by late 2025. Management is focused on operational efficiency and cost discipline to target breakeven and potential cash-flow positivity by year-end 2025, contingent on achieving the upper range of its revenue and margin targets.