ISO Certification paves the way to OEM relationships which could include direct and indirect sales to global car makers such as Rivian, Tesla, Ford, General Motors, Hyundai, Honda, Stellantis, Nissan, and Toyota. West Seneca, New York, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Worksport Ltd. (NASDAQ: WKSP) ("Worksport" or the "Company"), a U.S.-based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors is thrilled to announce that it is ...

New Nano-Grid System 'SOLIS' and 'COR' Stores 4,000Wh or more of Clean Energy Daily, Offering Modular, Portable Power Solutions for Vehicles, Jobsites, First Responders, Military, and Outdoor Enthusiasts. West Seneca, New York, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Worksport Ltd. (NASDAQ: WKSP) ("Worksport" or the "Company"), a U.S.-based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, is excited to announce a major update on ...

. ● Worksport Announces Successful Level 1 Tesla Charging with COR Battery Generator COR System Provides Seven Miles of Charge Power to Tesla Model 3 in Lab Test Data; Acts as an EV Range Extender with Unlimited Charge Power with Modular Batteries. September 11, 2024 8:00 AM EDT | Source: Worksport Ltd. West Seneca, New York--(Newsfile Corp. - September 11, 2024) - Worksport Ltd. (NASDAQ: WKSP) ("Worksport" or the "Company"), a U.S.-based manufacturer and innovator of hybrid and clean energy solutions for t ...

Engineering Team's Expertise Fuels Innovation & Growth in Multi-Billion-Dollar Market West Seneca, New York, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Worksport Ltd. (NASDAQ: WKSP) ("Worksport" or the "Company"), a U.S.-based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, is thrilled to announce the release of new tonneau cover applications. These covers are available for various models including but not limited to those from Gen ...

● . ● Worksport ($WKSP) Begins COR Alpha Production, Eyeing New Growth Opportunities SOLIS & COR Alpha Launch on Track for September as Testing Yields Positive Results August 20, 2024 8:00 AM EDT | Source: Worksport Ltd. West Seneca, New York--(Newsfile Corp. - August 20, 2024) - Worksport Ltd. (NASDAQ: WKSP) ("Worksport" or the "Company"), a U.S.-based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, is thrilled to announce ...

● . . Worksport ($WKSP) Announces Record High Revenues; 275% Q2 Growth Q2 Earnings Call Available: Management Discusses Revenue Growth and Future Outlook August 14, 2024 7:47 AM EDT | Source: Worksport Ltd. West Seneca, New York--(Newsfile Corp. - August 14, 2024) - Worksport Ltd. (NASDAQ: WKSP) ("Worksport" or the "Company"), a U.S.-based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, at market close yesterday reported th ...

Financial Data and Key Metrics Changes - Worksport achieved net sales of $1.92 million for Q2 2024, representing a 275% increase from Q1 2024 and surpassing the entire revenue of $1.5 million for fiscal 2023 [8][9] - Gross profit margins for Q2 2024 were reported at 15.4%, an improvement of 111% compared to Q1 2024 [9][10] - The company anticipates a monthly recurring revenue of approximately $1 million by the end of Q2 2024, with expectations for continued growth throughout the year [9][11] Business Line Data and Key Metrics Changes - The Tonneau cover business is leading sales, positioned within a $3.5 billion truck bed market, with significant early traction noted [5][8] - Worksport plans to launch three new products in the second half of 2024, including the SOLIS Solar Tonneau cover and the COR modular portable energy system [5][6] Market Data and Key Metrics Changes - The portable energy market is valued at approximately $3.9 billion globally, with Worksport's COR system expected to penetrate markets beyond just the pickup truck segment [6][12] - The company is targeting the North American market, which has over seven million Tonneau covers sold annually, indicating substantial growth potential [22] Company Strategy and Development Direction - Worksport is focusing on expanding its automotive and clean-tech divisions, aiming to become a nine-figure middle market company in the short to mid-term [20][21] - The company is pursuing ISO certification for its factory, which is expected to enhance business-to-business relationships and future OEM partnerships [25][46] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about achieving cash flow positivity by 2025, with a revenue forecast of $15 to $20 million for the Tonneau cover business in 2025 [11][52] - The company is strategically positioned to leverage changes in tariffs and market dynamics, particularly in the clean-tech sector [26][57] Other Important Information - Worksport received a grant valued at approximately $2.8 million from the state of New York, based on projected employee growth, redeemable starting in 2025 [17] - The company has filed a Reg A offering to raise capital, which is expected to attract new investors and expand its retail shareholder base [23][60] Q&A Session Summary Question: Can you cover your manufacturing capability in New York? - The manufacturing line can produce 1,000 Tonneau covers per day, with most components sourced from North America [14][15] Question: How much did production inefficiency cost you in the quarter? - Production inefficiencies are being addressed, and management anticipates margins to improve significantly as production scales [29][31] Question: What is the potential revenue for the Clean-tech business in 2025? - The Clean-tech market is estimated to be a ten-figure market, with hopes to capture a portion of it as the COR product launches [34] Question: Will the COR system be available for retail purchase online before Christmas? - The company is targeting hard Christmas sales, with plans for pre-sales before the holiday season [41] Question: What revenue number is needed to break even? - Management estimates that revenues between $15 million to $20 million will lead to cash flow positivity, but this is a moving target [52][53] Question: Will Worksport benefit from the IRA? - The COR product is expected to qualify for carbon credits, providing potential financial benefits [56]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class: Trading Symbol(s) Name of each exchange on which registered: Common Stock WKSP The Nasdaq Stock Market LLC Warrants WKSPW The Nasdaq Stock Market LLC Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☒ Emerging growth company ☐ FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For Quarterly Period Ended: June 30, 2024 ☐ TRANSIT ...

. . . Worksport Opens Investor Q&A Portal Ahead of Q2 2024 Financial Results Earnings Call to Feature Insights on Sales, Strategic Plans, and Key Product Developments August 08, 2024 8:00 AM EDT | Source: Worksport Ltd. West Seneca, New York--(Newsfile Corp. - August 8, 2024) - Worksport Ltd. (NASDAQ: WKSP) ("Worksport" or the "Company"), a U.S.-based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, is pleased to announce th ...

. ● . Worksport Ltd. Announces Impressive SOLIS Solar Cover Test Results Alpha Launch Set for This Summer; Journalists Invited for Early Access August 01, 2024 8:00 AM EDT | Source: Worksport Ltd. West Seneca, New York--(Newsfile Corp. - August 1, 2024) - Worksport Ltd. (NASDAQ: WKSP) ("Worksport" or the "Company"), a U.S. based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, is thrilled to announce that its first-to-market ...