Worksport (WKSP) Q2 2025 Earnings Call August 13, 2025 01:00 PM ET Speaker0Good afternoon, everyone, and thank you for joining WorkSports quarter '2 twenty twenty May. I'm Steven Rossi, chief executive officer of WorkSports, and with me today is our chief financial officer, Michael Johnston. This quarter represents another significant step forward in our growth story. We achieved record quarterly revenues, meaningfully expanded our gross margins, and continue to build the operational commercial foundation t ...

Introduction "In just one quarter, we increased revenue by 83% while increasing gross profit by 173%. We decreased operating loss by 15%." 113% YoY Revenue Growth 83% Sequential QoQ Growth 26.4% Gross Margins up 800 Basis Points Q2 2025 2 Agenda 1 Q2 2025 Performance Highlights Financial and operational achievements 2 Growth & Market Expansion Dealer network, e-commerce, and B2B initiatives 3 Innovation Pipeline Progress on SOLIS, COR, and AetherLux, plus new product introductions 4 Current Operations Produ ...

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]