Bitcoin, XRP Treasury Strategy Paying Off? Worksport Reports Record Sales

Core Insights - Worksport Ltd. has achieved a 31% gross margin in July, surpassing its year-end target by one quarter, following four consecutive months of record sales [1][3][4] - The company reported July revenue of $1.71 million, marking its strongest month on record, and annualized sales are projected to exceed $20 million, aligning with full-year guidance [2][3] - Gross margin has significantly improved over the past three quarters, increasing from 11% in Q4 2024 to 31% in July 2025, attributed to scaling U.S. production and manufacturing efficiencies [3][4] Financial Performance - July revenue reached $1.71 million, the highest monthly revenue recorded by the company [2] - Annualized sales are now above $20 million, consistent with the company's guidance for the full year [3] Operational Strategy - The improvement in gross margin is linked to the scaling of the U.S. production base and enhanced manufacturing efficiencies [3] - The CEO highlighted that the success of the U.S. manufacturing model and American-made products is evident in the marketplace [4] Future Growth Prospects - New products expected in the second half of 2025, including the HD3 heavy-duty tonneau cover, SOLIS solar cover, and COR modular power system, are anticipated to support further growth [4] - The company is diversifying its treasury by incorporating Bitcoin and XRP, viewing cryptocurrency reserves as a complement to long-term growth plans [5][6] - Worksport is exploring crypto payment options for e-commerce to reduce transaction costs and expand customer reach [6]