The earnings call highlighted strong revenue growth and improved gross margins, driven by strategic shifts and product launches. However, increased operating expenses and continued net losses presented challenges. The company's focus on innovation and expansion of its dealer network provides a positive outlook, though supply chain uncertainties pose potential risks.

Company Guidance -

Q1 2025

During the call, Worksport provided financial guidance and shared several key metrics for 2025. In the first quarter, the company achieved revenue of $2.24 million, marking a significant year-over-year increase of 337% compared to $512,000 in Q1 2024. Gross profit rose to $396,000 with a gross margin of nearly 18%, up from 7% a year earlier. Operating expenses increased by 26% to $4.65 million, supporting revenue growth. The company maintains a cash position of $5.08 million and improved working capital of $7.94 million. Worksport projects full-year 2025 revenues between $20 million to $25 million, driven by the AL4 product line and new launches like the SOLIS and COR systems. They aim for a gross margin increase to 25-30% by year-end and expect to achieve operational cash flow breakeven by late 2025 or early 2026.

Significant Revenue Growth

Revenue for Q1 2025 reached $2.24 million, a 337% increase compared to $512,000 in Q1 2024.

Improved Gross Margin

Gross margin improved to nearly 18%, up from 7% in Q1 2024 and 11% in Q4 2024.

Expansion of Dealer Network

Worksport's U.S. network now totals 151 active dealers, a 64% increase from 92 at the end of last year.

New Product Launches

Introduced AL4 tonneau cover and announced upcoming products like SOLIS solar cover and COR portable energy system.

Innovations in Clean Energy

Terravis Energy developed AetherLux heat pump capable of operating in ultra-low temperatures and eliminating defrost cycles.

Strong Financial Position

Cash and cash equivalents stood at $5.08 million, slightly up from $4.88 million at year-end 2024.

Worksport (WKSP) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

WKSP Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 19, 2025	2025 (Q2)	-0.79 / -	-1.5	―	―	―
May 15, 2025	2025 (Q1)	-0.96 / -1.05	-1.8	41.67% (+0.75)	―
Mar 27, 2025	2024 (Q4)	-1.28 / -1.26	-2	37.00% (+0.74)
Nov 13, 2024	2024 (Q3)	-1.30 / -1.40	-2.3	39.13% (+0.90)
Aug 13, 2024	2024 (Q2)	-1.30 / -1.50	-2.2	31.82% (+0.70)
Feb 06, 2024	2023 (Q4)	-2.40 / -2.00	-2	0.00% (0.00)	―	―
Nov 15, 2023	2023 (Q3)	-2.50 / -2.30	-1.7	-35.29% (-0.60)	―	―
Nov 15, 2021	2021 (Q3)	- / -1.50	-0.212	-607.55% (-1.29)	―	―
Apr 14, 2021	2020 (Q4)	- / -2.37	-0.892	-166.14% (-1.48)	―	―
May 15, 2020	2019 (Q4)	- / -0.09	-0.101	11.88% (+0.01)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

WKSP Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 15, 2025	$3.31	$2.93	-11.48%
Mar 27, 2025	$3.67	$3.35	-8.72%
Nov 13, 2024	$8.70	$7.33	-15.75%
Aug 13, 2024	$6.75	$6.64	-1.63%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Worksport (WKSP) report earnings?

Worksport (WKSP) is schdueled to report earning on Aug 19, 2025, Before Open (Confirmed).

What is Worksport (WKSP) earnings time?

Worksport (WKSP) earnings time is at Aug 19, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is WKSP EPS forecast?

WKSP EPS forecast for the fiscal quarter 2025 (Q2) is -0.79.

Become an Expert with TipRanks Premium

What am I Missing?

Make informed decisions based on Top Analysts' activity

Know what industry insiders are buying

Get actionable alerts from top Wall Street Analysts

Find out before anyone else which stock is going to shoot up

Get powerful stock screeners & detailed portfolio analysis

Subscribe Now See Plans & Pricing