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Worksport
(NASDAQ:WKSP)
Worksport (WKSP) vs. SPDR S&P 500 ETF (SPY)
Worksport Business Overview & Revenue Model
Worksport Earnings Call Summary
Worksport Financial Statement Overview
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 8.48M | 1.53M | 116.50K | 303.75K | 346.14K |
| Gross Profit | 905.65K | 240.51K | 59.53K | -46.95K | 47.15K |
| EBITDA | -13.68M | -13.20M | -11.56M | -7.39M | -774.41K |
| Net Income | -16.16M | -14.93M | -12.22M | -8.19M | -1.57M |
Balance Sheet | |||||
| Total Assets | 25.74M | 25.95M | 32.76M | 36.29M | 1.90M |
| Cash, Cash Equivalents and Short-Term Investments | 4.88M | 3.37M | 14.21M | 28.57M | 1.11M |
| Total Debt | 5.62M | 6.24M | 6.62M | 857.06K | 712.79K |
| Total Liabilities | 8.32M | 7.78M | 8.65M | 2.11M | 1.73M |
| Stockholders Equity | 17.41M | 18.18M | 24.12M | 34.18M | 169.47K |
Cash Flow | |||||
| Free Cash Flow | -10.67M | -15.62M | -19.13M | -5.18M | -734.27K |
| Operating Cash Flow | -10.14M | -11.93M | -7.98M | -4.05M | -726.30K |
| Investing Cash Flow | -528.24K | -3.76M | -11.15M | -1.13M | -16.73K |
| Financing Cash Flow | 12.18M | 4.43M | 5.18M | 32.64M | 1.84M |
Worksport Technical Analysis
Worksport Risk Analysis
Worksport Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $16.85B | 11.25 | -7.01% | 2.93% | 1.72% | -24.85% | |
61 Neutral | $21.73M | ― | -170.89% | ― | -70.99% | 69.17% | |
57 Neutral | $65.12M | 1.82 | -26.02% | ― | -23.78% | -179.48% | |
56 Neutral | $19.76M | ― | -86.65% | ― | 407.96% | 36.22% | |
55 Neutral | $47.57M | ― | -1.87% | ― | -3.83% | 89.89% | |
44 Neutral | $13.52M | ― | -103.81% | ― | -12.27% | 57.85% | |
42 Neutral | $31.51M | 3.79 | -266.79% | ― | ― | ― |
Worksport Corporate Events
On July 10, 2025, Worksport Ltd. reported a significant increase in Q2 2025 revenue, achieving $4.1 million, an 83% rise from Q1, signaling a successful strategic pivot towards higher-margin products. The company is poised for sustainable profitability with expanding gross margins and the upcoming launch of its SOLIS Solar Tonneau Cover and COR Portable Energy System, which are expected to tap into high-margin, multi-billion-dollar markets.
The most recent analyst rating on (WKSP) stock is a Buy with a $9.00 price target. To see the full list of analyst forecasts on Worksport stock, see the WKSP Stock Forecast page.
On July 7, 2025, Worksport Ltd. announced a significant leap in production and margin growth, achieving a 50% increase in monthly production volume since March 2025 and more than doubling its gross margins over the past five months. The company is on track to reach $20 million in revenue for 2025, driven by increased demand, expanded dealer partnerships, and operational efficiency. Worksport’s upcoming launch of the SOLIS solar-integrated tonneau cover and COR portable nano-grid power system in Fall 2025 is expected to further enhance its market position in the clean-tech sector, targeting a $13 billion market with high-margin, high-growth potential.
The most recent analyst rating on (WKSP) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Worksport stock, see the WKSP Stock Forecast page.
On June 25, 2025, Worksport Ltd. announced a pilot project with a leading US construction firm to test its SOLIS solar tonneau cover and COR portable energy system. This collaboration marks Worksport’s first major project with a large construction industry stakeholder and aims to validate the performance of its clean-tech solutions in real-world environments. The pilot, involving a fleet of over 1,000 trucks, could lead to broader adoption and significant revenue opportunities. The construction firm, known for its work with institutional and government clients, provides Worksport with valuable exposure and potential future commercial opportunities.
The most recent analyst rating on (WKSP) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Worksport stock, see the WKSP Stock Forecast page.
In June 2025, Worksport Ltd. announced record-breaking revenues for April and May 2025, with May sales reaching $1.28 million and a 25% improvement in gross margins compared to Q1 2025. This growth is attributed to the company’s focus on higher-value branded products and operational efficiency at its New York facility. Worksport’s active dealer network expanded significantly, and the company expects continued strong performance with the launch of its SOLIS and COR clean-tech products later in the year. The company projects reaching approximately $20 million in revenue by the end of 2025, aiming for cash flow positivity and sustained profitability.
The most recent analyst rating on (WKSP) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Worksport stock, see the WKSP Stock Forecast page.
On June 13, 2025, Worksport Ltd. completed the initial closing of its Regulation A offering, issuing 49,335 units consisting of Series C Convertible Preferred Stock and warrants, raising net proceeds of $149,115.04. This move is part of Worksport’s strategy to strengthen its financial position, with the offering allowing for future conversions into common stock and providing limited voting rights, potentially impacting its market operations and investor relations.
The most recent analyst rating on (WKSP) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Worksport stock, see the WKSP Stock Forecast page.
On June 10, 2025, Worksport Ltd. announced the addition of a second national automotive distributor, expanding its dealer network to over 550 locations across the U.S., a nearly sixfold increase since the start of 2025. This strategic move is expected to generate over $21.5 million in repeatable B2B revenue, with the company reaffirming its full-year 2025 revenue guidance of $20-$25 million, representing a 2.5-3x increase year-over-year. The expansion is part of Worksport’s strategy to capture greater market share and enhance operational efficiencies, with the upcoming launch of its SOLIS solar-integrated tonneau cover and COR portable energy storage system poised to unlock new revenue streams in the clean-tech market.
The most recent analyst rating on (WKSP) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Worksport stock, see the WKSP Stock Forecast page.
On June 5, 2025, Worksport Ltd. announced the upcoming Fall 2025 launch of its SOLIS and COR Nano-Grid System, following the completion of significant engineering milestones. The SOLIS solar tonneau cover and COR portable power system are designed to serve various markets, including vehicles, jobsites, and portable power sectors, with a projected total addressable market expansion from $4 billion to over $13 billion. The company anticipates generating $2-3 million in new revenue in 2025, with expectations for rapid scaling and long-term growth in the mobile power and clean energy markets. The SOLIS system is already in assembly at Worksport’s ISO-certified facility, and the COR system is progressing towards market readiness, with both products set to challenge market leaders in their respective industries.
The most recent analyst rating on (WKSP) stock is a Buy with a $11.50 price target. To see the full list of analyst forecasts on Worksport stock, see the WKSP Stock Forecast page.
In April 2025, Worksport Ltd. achieved record-high monthly sales of approximately $1.22 million, largely driven by the launch of its AL4 tonneau cover, which accounted for 40% of sales. The rapid uptake of the AL4, which is made with over 90% domestic content, has bolstered Worksport’s revenue base and strengthened its market position. With 80% of the AL4 product line already rolled out, Worksport anticipates continued growth through Q2 and beyond, supported by expanding dealer relationships and upcoming clean-tech innovations like the SOLIS solar-integrated tonneau cover and the COR portable power system.
The most recent analyst rating on (WKSP) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Worksport stock, see the WKSP Stock Forecast page.
On May 28, 2025, Worksport Ltd. announced that its U.S. production facility achieved ISO 9001:2015 certification, a significant milestone expected to enhance its manufacturing credentials and open new OEM and global supply chain opportunities. This certification is anticipated to strengthen Worksport’s reputation for quality and operational excellence, enabling the company to pursue supply opportunities with top-tier OEMs and national retailers, and positioning it for substantial growth in the global auto manufacturing ecosystem.
The most recent analyst rating on (WKSP) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Worksport stock, see the WKSP Stock Forecast page.
On May 15, 2025, Worksport Ltd. announced its financial results for the first quarter of 2025, highlighting a significant 337% increase in revenue and a 157% improvement in gross margins compared to the previous year. The company is optimistic about its trajectory for the rest of the year, forecasting full-year revenue between $20 million and $25 million, and aims to achieve cash flow positive operations by year-end. The introduction of the high-margin AL4 cover and upcoming green energy product lines are expected to drive future growth.
The most recent analyst rating on (WKSP) stock is a Buy with a $1.50 price target. To see the full list of analyst forecasts on Worksport stock, see the WKSP Stock Forecast page.
On May 12, 2025, Worksport Ltd. announced that it will release its financial results for the first quarter of fiscal year 2025 on May 15, 2025, after market close. The company plans to host a live webcast for investors, analysts, and media, where management will discuss the company’s recent financial performance and outlook for 2025. Worksport’s management has highlighted that the current market valuation may not fully reflect the company’s strengths, with a focus on achieving cash-flow positivity and significant growth in the coming year. The announcement is expected to provide valuable insights into Worksport’s strategic initiatives and financial trajectory, potentially impacting its market positioning and stakeholder interests.
The most recent analyst rating on (WKSP) stock is a Buy with a $1.50 price target. To see the full list of analyst forecasts on Worksport stock, see the WKSP Stock Forecast page.
On April 29, 2025, Worksport Ltd. announced a strategic partnership with Patriot Automotive Technologies to expand its business-to-business network across the U.S. This collaboration will see Worksport’s tonneau covers sold through Patriot’s network of over 200 dealer locations, marking a significant growth milestone. The partnership is expected to generate millions in annual recurring revenue, enhancing Worksport’s profitability and market presence. This move aligns with Worksport’s strategy to aggressively grow its U.S. distribution channels and strengthen its position as a leading supplier of U.S.-made automotive accessories.
On April 22, 2025, Worksport Ltd. announced a significant expansion of its dealer network by 64% in the first quarter of 2025, driven by strong demand for its U.S.-made AL4 tonneau cover, which led to a 70% increase in March B2B sales. The company attributes its growth to the high-quality and domestic production of its products, which appeal to independent truck accessory retailers and installers. Worksport plans to continue expanding its network and product offerings, including the upcoming launch of the SOLIS solar-integrated tonneau cover and the COR modular portable energy system, positioning itself for sustained growth and long-term value for shareholders.