Workflow
Worksport Sets New 4-Week Production Record; Strong Growth Continues 2,499 Units Produced in 4 weeks of July, Doubling March 2025 Output
Worksport .Worksport .(US:WKSP) Globenewswireยท2025-08-05 12:45

Core Insights - Worksport Ltd. has achieved its strongest production performance to date, producing 2,499 tonneau covers in a four-week period, which is more than double the 1,234 units produced in March 2025, indicating over 100% sequential growth [1][2] - The company has reported a 50% production increase in May and over 100% improvement in gross margins over the past five months, showcasing significant operational efficiency without a proportional increase in headcount [2][3] - The demand for Worksport's flagship product, the Made in USA AL4 premium tonneau cover, continues to outpace supply, driving this growth [3][4] Financial Outlook - The CEO of Worksport anticipates the company will surpass $20 million in revenue this year and achieve cash flow positivity in the near term [4] - The company is set to launch its first clean-tech product vertical, including the SOLIS solar-integrated tonneau cover and the COR portable power system, targeting a combined market of $13 billion in clean energy and portable power [4][5] - Initial shipments of SOLIS and COR are expected in Fall 2025, with projected revenue of $2-3 million from the launch and significant contributions anticipated in 2026 and beyond [5] Future Developments - Worksport is focused on achieving cash flow positivity followed by profitability in the upcoming quarters, with increasing margins and record revenues [6] - A top 15 U.S. construction company is currently piloting the SOLIS and COR units for integration into their national fleet, indicating strong market interest [5][8] - The company has an active partnership with Hyundai for the SOLIS solar cover, further expanding its market reach [8]