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Worksport (WKSP)
NASDAQ:WKSP
Earnings Data
Report Date
Aug 19, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
-0.79Last Year’s EPS
-1.5Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Date:May 15, 2025
|% Change Since: -8.76%
|Next Earnings Date:Aug 19, 2025
Earnings Call Sentiment|Neutral
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
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.
WKSP Earnings History
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, TBA Not Confirmed.
What is Worksport (WKSP) earnings time?
Worksport (WKSP) earnings time is at Aug 19, 2025, TBA Not 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.