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Worksport Announces Fourth Quarter and Full Year 2025 Earnings Date; Updated Financial Guidance and Path to Cash-Flow Positivity to Be Discussed
Accessnewswire· 2026-03-11 18:00
Core Viewpoint - Worksport Ltd. is set to announce its financial results for Q4 and the full year of 2025 on March 26, 2026, and will discuss its path to achieving cash-flow positivity during a conference call [1] Financial Performance - The financial results will be released after market close on March 26, 2026, with a conference call scheduled for 4:30 PM ET to discuss the performance [1] - Management is expected to provide updated financial guidance during the call [1] Operational Progress - The conference call will include insights into the company's operational progress and key strategic initiatives [1] - Worksport aims to achieve cash-flow positive operations and will outline its roadmap during the call [1] Product Development - Worksport designs and manufactures a variety of products, including tonneau covers and solar integrations, and has a partnership with Hyundai for the SOLIS Solar cover [1] - The company is focusing on clean energy solutions and mobile energy storage systems, capitalizing on the shift towards clean energy [1]
Hybrid Power Solutions Engages Sophic Capital for Capital Markets Services
Thenewswire· 2026-02-19 13:35
Core Insights - Hybrid Power Solutions Inc. has appointed Sophic Capital as its capital markets services and investor relations partner to enhance investor awareness and communication strategies [1][2] - The partnership is expected to leverage Sophic Capital's established network to attract investment advisors and institutions, aligning with Hybrid's growth trajectory and increasing customer interest in its clean power solutions [2] - Hybrid Power Solutions focuses on developing fuel-free portable power systems for off-grid applications, emphasizing environmental responsibility and innovation in the clean energy sector [4] Group 1 - The agreement with Sophic Capital includes a monthly fee of $8,000 for an initial term of 12 months, along with options to purchase up to 1,030,000 common shares at a price of $0.04 per share [2] - The options will vest quarterly in four tranches of 257,500 shares each and will expire either 90 days after the termination of the engagement or on February 18, 2031 [2] - Sophic Capital specializes in capital markets strategies for growth companies, particularly in technology and clean technology sectors, making it a suitable partner for Hybrid [3] Group 2 - Hybrid Power Solutions is listed on the Canadian Securities Exchange under the symbol "HPSS" and is committed to leading the clean energy transition [4] - The company aims to benefit from increasing infrastructure activities across various industries, including construction, transportation, law enforcement, and defense [2] - The CEO of Hybrid Power Solutions, Francois Byrne, highlighted the strategic importance of this partnership at a critical growth juncture for the company [2]
Hybrid Power Solutions Announces Proof of Concept Agreement with Reliable Robots to Explore Industrial Automation at Etobicoke Facility
Globenewswire· 2026-01-20 13:35
Core Insights - Hybrid Power Solutions Inc. has entered into a Proof of Concept (POC) Development Agreement with Reliable Robots to explore the integration of autonomous mobile robots (AMRs) in its operations [1][4] Group 1: Agreement Details - The agreement, dated January 19, 2026, involves the deployment of AMRs from Pudu Robotics and Keenon Robotics at Hybrid's facility in Etobicoke, Ontario [2] - The initial deployment will include the PUDU T300 industrial delivery robot and/or the Keenon T9, aimed at evaluating performance in material handling and delivery tasks [2][3] - The POC is expected to begin within approximately two weeks of the effective date, followed by a 4-6 week testing period [5] Group 2: Technology and Applications - AMRs provide flexible and scalable automation for material movement and process-support tasks, with the PUDU T-Series capable of supporting payloads up to 600 kg and the Keenon T9 supporting 40 kg [3] - The collaboration may explore additional robotic applications, including cleaning and other process-support operations, to reduce reliance on manual labor [3] Group 3: Strategic Importance - The POC aligns with Hybrid's commitment to modernizing operations and enhancing efficiency, supporting the growth of Canada's clean-tech manufacturing sector [4] - Reliable Robots will provide the robots, setup, training, and technical support at no cost during the POC, while Hybrid will provide facility access and operational feedback [4] Group 4: Future Outlook - The initiative aims to deliver insights into shop floor performance, guide decisions on facility layout, labor strategies, and scalable automation as production grows [5] - Hybrid Power Solutions anticipates potential future opportunities to expand automation across its operations based on the outcomes of this POC [6]
Hybrid Power Solutions closes Final Tranche of Life Offering Financing
Thenewswire· 2026-01-19 22:25
Core Viewpoint - Hybrid Power Solutions Inc. has successfully closed the final tranche of its Life Offering financing, raising a total of CDN $1,067,925 through the issuance of 17,798,749 units at a price of C $0.06 per unit [2][5]. Financing Details - The final tranche raised gross proceeds of CDN $53,025 from the sale of 883,750 units [2]. - Each unit consists of one common share and one whole common share purchase warrant, with the warrant exercisable at CDN $0.10 per share for 24 months [3]. - The company may accelerate the expiry of the warrants if the share price exceeds CDN $0.20 for 20 consecutive trading days [3]. Regulatory Compliance - The offering is conducted under the Listed Issue Financing Exemption, allowing sales to purchasers in Canadian provinces (excluding Quebec) and offshore jurisdictions [4]. - The securities issued will be freely tradable in Canada and are not subject to a hold period [4]. Use of Proceeds - The net proceeds from the offering will be allocated to company operations, product and research development, sales growth initiatives, marketing, and general corporate purposes [5]. Finder's Fees - The company paid eligible finders a cash fee of $38,690.40 and issued 644,840 non-transferable finder's warrants, allowing the acquisition of shares at $0.10 per share for 24 months [6]. Company Overview - Hybrid Power Solutions Inc. is a Canadian clean energy innovator focused on developing portable power systems that eliminate the need for fossil fuels in off-grid applications [9].
Hybrid Power Solutions closes First Tranche of Life Offering Financing
Thenewswire· 2025-12-31 21:30
Core Viewpoint - Hybrid Power Solutions Inc. has successfully closed the first tranche of its Life Offering financing, raising gross proceeds of C $1,014,899.94 through the sale of 16,914,999 units at a price of C $0.06 per unit [2]. Financing Details - Each unit consists of one common share and one whole common share purchase warrant, with the warrant exercisable at CDN$0.10 per share for 24 months [3]. - The company may accelerate the expiry of the warrants if the closing price of its common shares reaches or exceeds CDN$0.20 for 20 consecutive trading days [3]. - The offering is conducted under the Listed Issue Financing Exemption, allowing sales to purchasers in Canada (excluding Quebec), the United States, and offshore jurisdictions [4]. Use of Proceeds - The net proceeds from the offering will be allocated for company operations, product and company research and development, sales growth initiatives, marketing, and general corporate purposes [5]. Finder's Fees - The company paid eligible finders a cash fee of 6% of the gross proceeds raised and issued non-transferable finder's warrants, allowing them to acquire shares at a price of $0.10 per share for 24 months [6]. Regulatory Compliance - Completion of the offering is subject to necessary regulatory approvals, including approval from the Canadian Securities Exchange [7]. Company Overview - Hybrid Power Solutions Inc. is a Canadian clean energy innovator focused on developing portable power systems that eliminate the need for fossil fuels in off-grid and remote applications [9][10].
Hybrid Power Solutions files Amended Life Offering Document and provides update on Financing
Thenewswire· 2025-12-05 22:15
Core Viewpoint - Hybrid Power Solutions Inc. has filed an amended and restated Life Offering Document to facilitate a non-brokered private placement aimed at raising between approximately CDN$1,000,000 and CDN$2,000,000 through the sale of units priced at CDN$0.06 each [1][3]. Group 1: Offering Details - The Offering will consist of a minimum of 16,666,667 and up to 33,333,333 units, each unit comprising one common share and one whole common share purchase warrant [3][4]. - Each warrant will be exercisable at CDN$0.10 per share for 24 months, with an acceleration clause if the share price exceeds CDN$0.20 for 20 consecutive trading days [4]. - The net proceeds from the Offering will be allocated for company operations, product research and development, sales growth initiatives, marketing, and general corporate purposes [6]. Group 2: Regulatory and Compliance - The units will be offered to purchasers in Canadian provinces (excluding Quebec), the United States, and offshore jurisdictions under the Listed Issuer Financing Exemption [7]. - Securities issued under this exemption will not be subject to a hold period in Canada, allowing for immediate trading [7]. - The Offering is subject to regulatory approvals, including that of the Canadian Securities Exchange [8]. Group 3: Company Background - Hybrid Power Solutions Inc. is a Canadian clean energy innovator focused on developing portable power systems that eliminate the need for fossil fuels in off-grid applications [11].
WKSP Invites You to Join Its Third Quarter 2025 Earnings Conference Call
Globenewswire· 2025-11-07 13:30
Core Insights - Worksport Ltd. is set to report its Q3 2025 financial results on November 13, 2025, with a focus on recent progress and future outlook [1][2] - The company is at an inflection point, aiming for cash flow positivity and profitability in the upcoming quarters, supported by increasing margins and record revenues [2] Financial Performance - The earnings call will provide insights into Worksport's recent financial performance and outlook for 2026 [2] - Management is excited to discuss the progress made in Q3 and the launch of two flagship clean energy products later this month [2] Product and Market Focus - Worksport designs and manufactures a variety of products, including tonneau covers, solar integrations, and portable power systems, with a partnership with Hyundai for the SOLIS Solar cover [4] - The company is capitalizing on the shift towards clean energy, focusing on proprietary solar solutions and mobile energy storage systems [4]
Hybrid Power Solutions Announces Non-Brokered Life Offering
Thenewswire· 2025-10-22 21:05
Core Viewpoint - Hybrid Power Solutions Inc. is initiating a non-brokered private placement to raise between approximately CDN$1,000,000 and CDN$2,000,000 by offering 16,666,667 to 33,333,333 units at a price of CDN$0.06 per unit [1] Group 1: Offering Details - Each unit will consist of one common share and one whole common share purchase warrant, with the warrant exercisable at CDN$0.10 for 24 months [2] - The company may accelerate the expiry of the warrants if the share price exceeds CDN$0.20 for 20 consecutive trading days [2] - Certain insiders may participate in the offering, which is expected to be exempt from formal valuation and minority shareholder approval requirements [3] Group 2: Use of Proceeds - The net proceeds from the offering will be allocated for company operations, product and company research and development, sales growth initiatives, marketing, and general corporate purposes [4] Group 3: Regulatory Compliance - The units will be offered to purchasers in Canada (excluding Quebec), the United States, and offshore jurisdictions, in compliance with applicable regulatory requirements [5] - The shares and warrants are expected to be immediately freely tradeable under Canadian securities legislation [5] - Completion of the offering is subject to necessary regulatory approvals, including from the Canadian Securities Exchange [7] Group 4: Company Overview - Hybrid Power Solutions Inc. is a Canadian clean energy innovator focused on developing portable power systems that eliminate the need for fossil fuels in off-grid and remote applications [10]
Worksport Ltd. Reports Q1 2025 Results: 337% Revenue Growth and 157% Margin Expansion Year-over-Year
Globenewswire· 2025-05-15 20:00
Core Insights - Worksport Ltd. has reported a significant increase in revenue and is targeting cash flow positive operations by year-end 2025 [1][3][6] Financial Performance - For Q1 2025, Worksport reported net sales of $2.24 million, a 337% increase from $512,000 in Q1 2024 [6] - Gross margin improved to approximately 18%, up from 7% in Q1 2024 and 11% in Q4 2024, with a target of 25-30% gross margins by year-end 2025 [6][9] - The company recorded a net loss of $4.46 million for Q1 2025, compared to a net loss of $3.71 million in Q1 2024 [9] Revenue Guidance - Worksport is projecting full-year revenue guidance of $20 million to $25 million for 2025, indicating a 2.5x to 3x increase over 2024 results [3][6] - The company anticipates strong sequential growth in Q2 2025, driven by the launch of its high-margin AL4 cover [6] Working Capital and Assets - As of the end of Q1 2025, Worksport reported a working capital balance of $7.94 million, with $5.1 million in cash availability [6][8] - Total assets increased to $26.66 million as of March 31, 2025, compared to $25.74 million at the end of 2024 [8] Future Outlook - The company aims to achieve cash flow breakeven by year-end 2025, supported by a stronger margin profile and operational leverage [6] - Preliminary outlook for 2026 includes sustained double-digit revenue growth and first full-year profitability, driven by expanded product availability and market share [6]