Worksport .(WKSP)
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Morning Market Movers: WYFI, RDAC, YCBD, JLHL See Big Swings
RTTNews· 2025-12-19 12:12
At 6:55 a.m. ET on Friday, premarket trading is seeing notable activity in several stocks, with early price movements signaling potential opportunities before the opening bell.For active traders, premarket trading offers a head start in spotting potential breakouts, reversals, or sharp price swings. These early moves often indicate where momentum may carry into the regular session, making premarket analysis a key part of the trading day.In the Green - Premarket GainersThe following stocks are trading highe ...
Worksport Reports Highest Monthly Revenue in Company History
Accessnewswire· 2025-12-18 13:31
Core Insights - Worksport Ltd. reported record monthly sales of $2.05 million for November 2025, indicating a strong revenue growth trend and margin expansion [1] Financial Performance - The company achieved approximately 30% gross margins in November 2025, reflecting effective cost management and operational efficiency [1]
Worksport to Open AI-Integrated Strategic Distribution Center to Boost National Sales Ramp Up
Accessnewswire· 2025-12-08 13:15
Expected improvements include 1-2-day delivery for major markets and early cost efficiencies of 10%-15% as volume increases. WEST SENECA, NEW YORK / ACCESS Newswire / December 8, 2025 / Worksport Ltd. ...
Worksport Achieves Historic Online Sales Milestone With Record Black Friday Performance
Accessnewswire· 2025-12-02 13:17
Core Insights - Worksport Ltd. reported a 400% year-over-year increase in direct-to-consumer e-commerce sales, with single-day sales exceeding $200,000 and weekly sales reaching $665,000 [1] Company Performance - November 28, 2025, marked the highest single day of online sales in the history of Worksport Ltd. [1]
Worksport Launches COR Mobile Battery Generator and SOLIS Pickup Truck Bed Mounted Solar Array; Begins Online Sales at Worksport.com
Newsfile· 2025-12-01 13:30
Core Insights - Worksport Ltd. has launched its next-generation Nano-Grid power system, combining the COR™ portable battery and SOLIS™ Truck-Mounted Folding Solar Array, marking a significant commercial milestone for the company [1][2][10] Product Launch and Market Potential - The launch represents years of investment in engineering and market preparation, with projected revenues of $2-3 million for the initial 2025 launch and potential for 8-figure growth in 2026 [2] - The Nano-Grid system allows over 60 million US pickup trucks to generate, store, and utilize power, making it the first commercially available system of its kind [3] Product Specifications - The COR™ Portable Battery System offers high-capacity modular energy storage ranging from 1 kWh to 6 kWh, designed for rugged use and fast charging [6] - Each COR Battery provides approximately 1 kWh of usable energy, with the COR HUB delivering 1,800 W continuous AC output and up to 2,000 W boost [7] Commercial Strategy - To validate the supply chain and seed launch demand, Worksport placed an opening purchase order exceeding $1 million for 900 COR units and 600 additional batteries with a Tier 1 global battery manufacturer [9] - The SOLIS will launch with over 10 models initially, framing this as a foundational step toward scaling production and revenue [9] Customer Demand and Future Outlook - The CEO emphasized the demand for a clean, quiet alternative to gas generators, positioning the SOLIS and COR as a portable nano-grid solution that can scale with user needs [10]
Worksport announces HD3 tonneau cover selling to B2B dealers
Yahoo Finance· 2025-11-26 13:40
Core Insights - Worksport (WKSP) has launched its new HD3 heavy-duty tonneau cover, which is now available through its expanding business-to-business dealer network [1] - Production of the HD3 commenced in mid-October, following a prior announcement regarding the start of manufacturing [1] - The HD3 is priced with a minimum advertised price starting at $869 and is the latest addition to Worksport's U.S.-manufactured hard-cover lineup [1] Product Features - The HD3 is designed for longevity, protection, and long-term durability, incorporating upgraded materials and reinforced perimeter seals [1] - It features strengthened panel construction and enhanced heavy-duty latching systems, making it suitable for commercial and high-use customers [1] - The design builds on the established AL3 architecture while providing a more rugged, professional-grade solution [1]
Worksport Announces HD3 Heavy-Duty Tonneau Cover Now Selling to B2B Dealers Following October Production Launch
Globenewswire· 2025-11-25 13:30
Core Insights - Worksport Ltd. has launched its new HD3 heavy-duty tonneau cover, which is now available through its expanding B2B dealer network, with production having started in mid-October [1][2][3] - The HD3 cover is priced starting at $869 and is designed for durability and protection, targeting commercial and high-use customers [2][4] - The company plans to focus on dealer sales for the HD3, while also preparing for direct-to-consumer sales in December [3][4] - Worksport's clean-tech products, COR and SOLIS, will open for initial orders on November 28, representing a new revenue stream for the company [5][6] - The company emphasizes that the HD3, SOLIS, and COR products are the result of years of engineering investment and are expected to drive revenue growth and market presence [7][8] Product Details - The HD3 tonneau cover features upgraded materials, reinforced seals, and heavy-duty latching systems, enhancing its ruggedness compared to previous models [2][4] - SOLIS is a solar-integrated truck bed system designed for renewable power applications, while COR is a modular energy storage system for various utility needs [7][8] Strategic Focus - The introduction of the HD3 is seen as a strategic move to enhance Worksport's product offerings in both B2B and B2C channels, aiming for unit sales growth and channel diversification [4][6] - The company is committed to advancing its manufacturing capabilities and expanding its product portfolio in clean energy and automotive accessories [8]
Worksport .(WKSP) - 2025 Q3 - Earnings Call Transcript
2025-11-13 14:32
Financial Data and Key Metrics Changes - Net sales for Q3 2025 reached $5 million, representing a 61% year-over-year growth and a 22% sequential growth from Q2 2025's $4.1 million [5] - Gross margin expanded to 31.3% in Q3 2025, up from 7.9% in Q3 2024 and 26.4% in Q2 2025, indicating improved operational efficiencies and product mix [5][8] - The net loss for Q3 2025 was $4.9 million, reflecting ongoing investments in product offerings and manufacturing scaling [5][6] - Cash position at the end of Q3 2025 was $3.8 million, with an additional $3.3 million available on the line of credit, and total indebtedness reduced to $2.9 million from $5.3 million at year-end 2024 [6][12] Business Line Data and Key Metrics Changes - The U.S.-made tonneau cover production led to Q3 net sales of $5 million, up from $3.1 million a year ago, with year-to-date sales at $11.4 million, more than double the $5.6 million for the same period in 2024 [7][8] - The AL4 hardcover contributed significantly to growth, supported by expanded relationships with national distributors and retail chains [8] - Operating expenses in Q3 totaled $6.4 million, up from $4.2 million in Q3 2024, primarily due to growth investments and marketing costs [9] Market Data and Key Metrics Changes - The tonneau cover market remains healthy, valued at over $3 billion, with a shift towards smaller trucks and higher profit applications benefiting the company [32][33] - The company anticipates strong growth in 2026, capitalizing on market conditions and its domestic manufacturing advantage [33] Company Strategy and Development Direction - The company aims to build a high-margin, scalable platform in truck accessories and clean tech-enabled power solutions, with a focus on transitioning from investment mode to long-term profitability by 2026 [5][6][29] - Upcoming product launches, including the HD3 tonneau cover and the Solis and Core systems, are expected to drive revenue growth and enhance margins [13][20] - The company is strategically positioned to leverage its existing distribution channels for new product lines while maintaining a focus on operational efficiency and cost discipline [17][19] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the demand for the Solis and Core products, indicating potential for significant market traction despite challenges in marketing new products [37][39] - The company is focused on achieving operational cash flow positivity by Q1 2026, supported by stable gross margins and increased sales [27][28] - Management acknowledged risks related to ongoing net losses, reliance on external capital, and tariff volatility, but remains confident in managing these challenges [24][25] Other Important Information - The company completed a Regulation A offering in October 2025, contributing to its financing activities [11] - The Solis and Core products are set for initial orders starting November 28, 2025, with expected delivery in late December or early January 2026 [20][46] Q&A Session Summary Question: Can you talk about the tonneau market for tonneau covers in general in the United States? - The company is seeing healthy market conditions with a shift towards smaller trucks, which allows for agile production adjustments [32][33] Question: Can you leverage your existing distribution for Solis and Core? - The company plans to start with direct-to-consumer sales for Solis and Core to gather feedback before expanding distribution [34] Question: What is the visibility on demand for Solis and Core? - Demand for Solis is expected to exceed initial expectations, while the Core has a broader market appeal, potentially leading to significant growth [37][39] Question: What is driving the improvement in margins? - The majority of margin improvements are attributed to overhead absorption and operational efficiencies rather than cost-cutting measures [41][42] Question: When can customers expect to receive the Solis and Core products? - The Solis will have a lead time of about two weeks, while the Core is expected to ship in late December [45][46] Question: Are there plans for international market expansion? - The company is focusing on Latin America first, with future plans for the EU and Middle East markets for the Core products [47][48]
Worksport .(WKSP) - 2025 Q3 - Earnings Call Transcript
2025-11-13 14:32
Financial Data and Key Metrics Changes - Net sales for Q3 2025 reached $5 million, representing a 61% year-over-year growth and a 22% sequential growth from Q2 2025's $4.1 million [5][7] - Gross margin expanded to 31.3% in Q3 2025, up from 7.9% in Q3 2024 and 26.4% in Q2 2025, indicating improved operational efficiencies and product mix [5][8] - The net loss for the quarter was $4.9 million, reflecting ongoing investments in product offerings and manufacturing scaling [5][6] - Cash position at the end of the quarter was $3.8 million, with an additional $3.3 million available on the line of credit, and total indebtedness reduced to $2.9 million from $5.3 million at year-end 2024 [6][11] Business Line Data and Key Metrics Changes - The U.S.-made tonneau cover production led to significant growth, with Q3 net sales reaching $5 million, up from $3.1 million a year ago [7][8] - The AL4 hardcover contributed to strong sales growth, supported by expanded relationships with national distributors and retail chains [8][9] - Year-to-date sales reached $11.4 million, more than double the $5.6 million for the same period in 2024 [7] Market Data and Key Metrics Changes - The tonneau cover market remains healthy, valued at over $3 billion, with a shift towards smaller trucks and higher profit applications benefiting the company [32][33] - The company anticipates a strong growth trajectory in 2026, capitalizing on market conditions and demand shifts [33] Company Strategy and Development Direction - The company aims to build a high-margin, scalable platform in truck accessories and clean tech-enabled power solutions, with a focus on operational cash flow positivity and profitability by 2026 [5][12] - Upcoming product launches, including the HD3 tonneau cover and the Solis and Core systems, are expected to drive revenue growth and enhance margins [13][20] - The company is transitioning R&D focus from foundational build to commercial optimization, aiming to enhance margins and efficiencies post-launch [22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the demand for the Solis and Core products, indicating potential for significant market traction [37][39] - The company is confident in its ability to manage tariff-related cost pressures while advancing towards cash flow positivity and maintaining profitability targets for 2026 [25][27] - The operational model prioritizes maintaining gross margins above 35% and improving working capital turns [24][28] Other Important Information - The company completed a Regulation A offering in October 2025, contributing to financing activities [10][11] - The Solis and Core products are set for initial orders starting November 28, 2025, with expected delivery in late December or early January 2026 [20][46] Q&A Session Summary Question: Can you talk about the tonneau market for tonneau covers in general in the United States? - The market remains healthy, with a shift towards smaller trucks and higher profit applications, indicating a strong outlook for 2026 [32][33] Question: Can you leverage your existing distribution for Solis and Core? - The company plans to start online direct-to-consumer sales for initial feedback, with significant interest from dealers [34] Question: What is the visibility on demand for Solis and Core? - Demand for Solis is expected to exceed initial expectations, while the Core has a broader market appeal [37][39] Question: What is driving the improvement in margins? - The majority of margin improvement is attributed to overhead absorption and operational efficiencies, with significant reductions in man-hours per unit produced [41][42] Question: When can customers expect to receive the Solis and Core products? - The Solis is expected to have a lead time of one to two weeks, while the Core is anticipated to ship in late December [45][46] Question: Are there plans for international market expansion? - The company is focusing on Latin America first, with future plans for the European Union and Middle East markets [47] Question: When do you expect the heat pump to go into production? - Production intent for the Aetherlux heat pump is underway, with timelines dependent on certification and tooling [49][50]
Worksport .(WKSP) - 2025 Q3 - Earnings Call Transcript
2025-11-13 14:30
Financial Data and Key Metrics Changes - Net sales for Q3 2025 reached $5 million, representing a 61% year-over-year growth and a 22% sequential growth from Q2 2025's $4.1 million [5] - Gross margin expanded to 31.3% in Q3 2025, up from 7.9% in Q3 2024 and 26.4% in Q2 2025, indicating improved operational efficiencies and product mix [5][8] - The net loss for the quarter was $4.9 million, reflecting ongoing investments in product offerings and manufacturing scaling [5] - Cash position at the end of the quarter was $3.8 million, with total working capital of $6.3 million and total indebtedness reduced to $2.9 million from $5.3 million at year-end 2024 [6][12] Business Line Data and Key Metrics Changes - The U.S.-made tonneau cover production led to significant growth, with Q3 net sales reaching $5 million, up from $3.1 million a year ago [6] - The AL4 hardcover contributed to strong growth, supported by expanded relationships with national distributors and retail chains [7] - Year-to-date sales reached $11.4 million, more than double the $5.6 million for the same period in 2024 [6] Market Data and Key Metrics Changes - The tonneau cover market remains healthy, with a shift towards smaller trucks and higher profit applications, maintaining a market size of over $3 billion [34][35] - The company is strategically positioned to leverage its domestic manufacturing advantage amidst tariff challenges, which serve as a competitive tailwind [17] Company Strategy and Development Direction - The company aims to build a high-margin, scalable platform in truck accessories and clean tech-enabled power solutions, with a focus on transitioning from investment mode to long-term profitability by 2026 [5][30] - Upcoming product launches, including the HD3 tonneau cover and the Solis and Core systems, are expected to drive revenue growth and enhance margins [19][20] - The company plans to optimize R&D efforts in 2026, focusing on commercial optimization and enhancing product margins [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the demand for the Solis and Core products, anticipating significant market interest and potential for growth [42][45] - The company expects to achieve operational cash flow positivity in Q1 2026, driven by stable gross margins and increased sales [27] - Management acknowledged risks related to ongoing net losses and reliance on external capital but emphasized a clear path towards profitability [24][25] Other Important Information - The company completed a Regulation A offering in October 2025, contributing to its financing activities [10] - The Solis and Core products are set for initial orders starting November 28, 2025, with expected delivery in late December or early January 2026 [20][53] Q&A Session Summary Question: Can you talk about the tonneau market for tonneau covers in general in the United States? - The market remains healthy with a shift towards smaller trucks, and the company is taking market share while maintaining a market size of over $3 billion [34][35] Question: Can you leverage your existing distribution for Solis and Core? - The company plans to start with direct-to-consumer sales for feedback, with significant interest from dealers following a recent trade show [36] Question: What is the visibility on demand for Solis and Core? - Demand for Solis is expected to exceed initial expectations, while the Core has a broader market potential [42][45] Question: What is driving the improvement in margins? - The majority of margin improvement is attributed to overhead absorption and operational efficiencies, with significant reductions in man-hours per unit produced [46] Question: Are margins capped at around 35%? - There is potential for margins to exceed 35% as brand recognition increases and operational efficiencies improve [48] Question: When can customers expect to receive the Solis and Core products? - The Solis is expected to have a lead time of one to two weeks, while the Core is anticipated to ship in late December [52][53] Question: Are there plans for international market expansion? - The company is focusing on Latin America first, with future plans for the European Union and Middle East markets [55] Question: When do you expect the heat pump to go into production? - Production timelines are being established, with a focus on rapid development and certification processes [57][58]