BREAKING: Worksport Posts Fourth Consecutive Monthly Sales Record in July 2025; Gross Margin Reaches 31% Target One Quarter Early

Core Insights - Worksport Ltd. has achieved four consecutive months of record sales, with July 2025 revenue reaching $1.71 million, marking a significant growth trajectory [1][2] - The company's gross margin expanded to 31% in July, surpassing its year-end target of 30% one quarter early, indicating strong operational efficiency [1][6] - Worksport is on track for annualized sales exceeding $20 million, aligning with its full-year guidance, and anticipates continued growth driven by upcoming product launches [4][6] Financial Performance - Monthly revenue records: April ($1.2 million), May ($1.3 million), June (~$1.6 million), July ($1.71 million) [2] - Gross margin progression: 11% in Q4 2024, 18% in Q1 2025, 26% in Q2 2025, and 31% in July 2025 [6] - Expected full-year 2025 revenue of at least $20 million with gross margins consistently above 30% [4][6] Production and Product Development - July production levels reached the highest in the company's history, attributed to increased scale and manufacturing efficiencies [6] - Upcoming product launches include the HD3 heavy-duty tonneau cover in Q3 and the SOLIS solar tonneau and COR portable power system in Q4, which are expected to drive further growth [4][6][7] - The company is also developing proprietary ZeroFrost™ Heat Pump Technology, anticipated for release in 2026 [6] Leadership Commentary - CEO Steven Rossi emphasized that the consistent record sales and improved gross margins reflect the success of the U.S. manufacturing model and American-made products [3] - The company is focused on a disciplined path toward sustained profitability and long-term shareholder value, with a positive outlook for the latter half of 2025 [3]