Worksport Grows Dealer Network 64% in Q1 2025; March B2B Sales Increase 70% on U.S.-Made AL4 Demand

Core Insights - Worksport Ltd. has reported significant growth in its dealer network and B2B sales, indicating strong market adoption of its U.S.-made AL4 tonneau cover [2][4][7] - The company emphasizes the advantages of manufacturing in the U.S., including mitigating tariff risks and supporting American jobs, which resonates well with dealers [7][8] Dealer Network and Sales Growth - The dealer network has expanded by 64%, increasing from 92 dealers at the end of 2024 to 151 active dealers [7] - March 2025 B2B sales grew nearly 70% compared to February, highlighting robust demand for the AL4 cover [7] - Worksport added 35 new dealer accounts in March, following 24 additions in January and February, showcasing a strong growth trajectory [7] Strategic Initiatives - The company plans to further expand its dealer network by partnering with distributors and purchasing groups that prioritize American-made quality [5] - Worksport aims to launch new products, including the SOLIS solar-integrated tonneau cover and COR modular portable energy system, to capture additional revenue streams in sustainable power solutions [12] - Management is focused on achieving cash-flow positivity through B2B growth, direct-to-consumer sales, and disciplined cost control [12]