Worksport Ltd. Q4 2025 Earnings Call Summary - Moby Strategic Operational Evolution Achieved a 2,800 basis point gross margin improvement to 28% by shifting from private label contracts to 100% proprietary Worksport-branded production. Attributed top-line growth to the successful scale-up of the West Seneca, New York facility, which now supports high-volume domestic manufacturing of hard tonneau covers. Expanded the national dealer network sixfold to over 550 locations, reducing customer concentrati ...

Worksport (NasdaqCM:WKSP) Q4 2025 Earnings call March 26, 2026 04:30 PM ET Company ParticipantsMichael Johnston - CFOSteven Rossi - CEOConference Call ParticipantsScott Buck - AnalystSteven RossiGood afternoon, everyone, and thank you for joining Worksport's Fiscal Year 2025 and Q4 2025 earnings call. I'm Steven Rossi, Chief Executive Officer of Worksport. With me is our Chief Financial Officer, Michael Johnston. We will be reviewing the financial results for the quarterly period ending December 31, 2025, a ...

Worksport (NasdaqCM:WKSP) Q4 2025 Earnings call March 26, 2026 04:30 PM ET Speaker3Good afternoon, everyone, and thank you for joining Worksport's Fiscal Year 2025 and Q4 2025 earnings call. I'm Steven Rossi, Chief Executive Officer of Worksport. With me is our Chief Financial Officer, Michael Johnston. We will be reviewing the financial results for the quarterly period ending December 31, 2025, and our full fiscal 2025. These results, filed today at 4:01 P.M. or thereabouts in our Form 10-K, can be downloa ...

1 Introduction Good afternoon, everyone, and thank you for joining Worksport's fiscal year 2025 and Q4 2025 earnings call. I'm Steven Rossi, Chief Executive Officer of Worksport Ltd. With me is our Chief Financial Officer, Michael Johnston. We will be reviewing the financial results for the quarterly period ending December 31st, 2025, and our full fiscal 2025. These results were filed today at 4:01 PM ET in our Form 10-K. On today's call, alongside our financial performance we'll review our operating execut ...

Core Insights - Worksport Ltd. has announced a strategic partnership with Potomac International Partners to target the Department of War (DOW), FEMA, and global commercial fleet sectors for its ZeroFrost technologies [1] Group 1: Company Overview - Worksport Ltd. is a U.S.-based technology and manufacturing company focused on clean energy solutions and automotive accessories for consumer and reseller channels [1] Group 2: Strategic Partnership - The partnership with Potomac International Partners aims to enhance Worksport's government relations and federal marketing efforts [1]

Core Insights - Worksport Ltd. is set to launch its SOLIS truck-mounted folding solar array on November 28, 2025, aimed at enhancing clean energy solutions for various applications [2][4][9] - The SOLIS system can generate up to 490 watts of solar power, transforming truck beds into mobile clean energy power plants [3][5] - The SOLIS product line will cater to a range of popular truck models, with initial pricing starting at $1,999 [6][9] Product Overview - SOLIS integrates high-efficiency solar panels to charge portable energy systems, specifically designed to work with the Worksport COR portable power system [3][6] - The SOLIS system, when paired with the COR, can provide 2000W of AC power, suitable for various tools and appliances [6] - The initial production run will include several hundred units across multiple truck bed configurations, targeting light-duty and mid-size segments [4][5] Market Potential - The SOLIS and COR combination is expected to open multiple growth avenues for Worksport, including camping, commercial fleets, and emergency power applications [8] - The company aims to establish a high-margin, recurring revenue model around solar-integrated truck accessories and portable power systems [8] - Worksport is actively exploring partnerships with OEMs, particularly in the electric vehicle sector, to enhance its market reach [11]

Core Insights - Worksport Ltd. has placed an initial purchase order exceeding $1 million for its COR portable battery systems, marking a significant milestone in its commercialization efforts [1][4] - The order includes 900 COR units and 600 additional batteries, set to precede the launch of SOLIS and COR on November 28, 2025 [2][4] - The company is positioned for rapid expansion in the clean energy sector, with projected initial revenue opportunities of $2.45 million from the upcoming product launches [4][6] Product and Market Development - The COR system has been developed in collaboration with a leading global battery manufacturer, ensuring adherence to high-quality standards [3] - SOLIS and COR are designed to create a modular, mobile energy grid, previously selected for a pilot program by a major U.S. construction company [4][5] - The company aims to explore U.S.-based production opportunities as domestic battery technology evolves [3] Financial Performance and Projections - Worksport has reported consecutive record financial quarters, including a 31% gross margin achievement in July [6] - The company anticipates robust revenue acceleration through 2026, driven by an expanding intellectual property portfolio and growing OEM partnerships [7]

Core Insights - Worksport reported record quarterly revenue and gross profit for Q3 2025, with revenue of $5.02 million, a 62% increase year-over-year, but slightly below the analyst consensus estimate of $5.58 million [1] - Gross profit surged 548% year-over-year to $1.60 million, with a gross margin expansion of 2,310 basis points to 31% [2] Financial Performance - Quarterly revenue increased by 22% from the previous quarter [1] - Gross profit rose 48.1% from the prior quarter, indicating strong operational performance [2] - The company produced 8,600 units in the quarter, up from 6,000 in Q2 and 4,300 in Q1 [2] Future Outlook - The U.S. tonneau cover factory is projected to achieve over $100 million in annual revenue without additional investment [3] - CEO Steven Rossi emphasized significant margin and revenue growth achieved prior to the launch of next-generation products, indicating a positive trajectory for the company [3] Stock Performance - Worksport shares were down 3.23% at $3.30, nearing a 52-week low of $2.44 [4]

Core Insights - Worksport Ltd. has expanded its dealer network to over 550 locations in the U.S., marking a nearly 6x increase since the beginning of 2025 [2][3] - The company anticipates significant growth in recurring revenue, projecting it to exceed $21.5 million annually at full activation of its dealer channels [4][5] - Management has reaffirmed full-year 2025 revenue guidance of $20-$25 million, representing a 2.5-3x increase year-over-year [6] Dealer Network Expansion - The addition of a second national automotive distributor has contributed to the rapid expansion of Worksport's dealer network [2][3] - The recent agreement adds approximately 250 dealer accounts, following a previous partnership that brought over 200 dealers [3] - As of now, Worksport actively sells to 187 of its 550 dealer partners, with new accounts joining weekly [4] Revenue Projections - The company estimates that its dealer channels can support over $21.5 million in annual repeatable revenue, driven by B2B traction and demand for its products [5] - The revenue potential reflects current scale and is expected to grow as dealer onboarding continues [5] - The anticipated revenue growth is supported by strong dealer adoption and increasing gross margins across all sales channels [6] Product Launch and Market Positioning - Worksport is preparing for the Fall 2025 commercial launch of its SOLIS solar-integrated tonneau cover and COR portable energy storage system, which are expected to unlock new revenue streams [9] - The company is focused on capturing greater market share and enhancing operational efficiencies, aiming for sustainable profitability and positive cash flow in fiscal 2025 and beyond [10] - Worksport's strategic focus on supporting U.S. retailers with American-made products is validated by the growing demand for high-quality truck accessories [7]

Core Insights - Worksport Ltd. is set to launch its modular nano-grid system, SOLIS & COR, in Fall 2025, following successful engineering milestones and validation benchmarks [2][6] - The company anticipates generating $2-3 million in new revenue from these products in 2025, with expectations for rapid scaling and long-term growth in the mobile power and clean energy markets [8][9] Product Overview - The SOLIS solar tonneau cover and COR portable power system are designed to empower over 60 million pickup trucks in the U.S. to generate and store power [3][6] - The total addressable market (TAM) for these products is projected to triple from $4 billion to over $13 billion [3] Market Positioning - The portable energy market is expected to grow at a CAGR of 24.2%, indicating strong demand for Worksport's offerings [6] - SOLIS is positioned as a first-of-its-kind solar solution in the U.S. truck accessories sector, while COR aims to compete with leading portable power industry players [9] Manufacturing and Readiness - Manufacturing of the SOLIS system is underway at Worksport's ISO-certified facility, with production planning for COR also in progress [10] - Both systems have passed internal and third-party tests, with certifications expected within two months [6][10] Strategic Vision - The launch of SOLIS and COR is viewed as a strategic platform for multi-channel expansion, addressing real-world challenges and designed for mass-market scalability [12] - The company aims to leverage its proprietary technology and U.S.-based operations to enhance competitiveness in the market [9][12]