{"id":866913,"date":"2025-07-07T09:18:22","date_gmt":"2025-07-07T13:18:22","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/worksport-delivers-record-production-with-100-margin-growth-as-revenue-tracks-toward-20m-milestone-ahead-of-clean-tech-product-launch\/"},"modified":"2025-07-07T09:18:22","modified_gmt":"2025-07-07T13:18:22","slug":"worksport-delivers-record-production-with-100-margin-growth-as-revenue-tracks-toward-20m-milestone-ahead-of-clean-tech-product-launch","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/worksport-delivers-record-production-with-100-margin-growth-as-revenue-tracks-toward-20m-milestone-ahead-of-clean-tech-product-launch\/","title":{"rendered":"Worksport Delivers Record Production With 100%+ Margin Growth as Revenue Tracks Toward $20M Milestone Ahead of Clean-Tech Product Launch"},"content":{"rendered":"
\n

West Seneca, New York, July 07, 2025 (GLOBE NEWSWIRE) — Worksport Ltd. (NASDAQ: WKSP) <\/strong>(\u201cWorksport\u201d or the \u201cCompany\u201d), a U.S. based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, announced today a transformational leap in performance\u2014achieving a 50% increase in monthly production<\/strong> volume since March 2025, while delivering more than a 100% improvement in gross margins <\/strong>over the past five months. These milestones are underscored by readily increasing demand.<\/p>\n

\n Record Production Surge Sets the Stage for Strong Growth<\/strong>\n <\/p>\n

In May 2025, Worksport produced more units than it did during the entire third quarter<\/strong> of 2024, setting a new monthly production record. This was achieved without adding proportional headcount, signaling a notable increase in operational efficiency.<\/p>\n

With demand accelerating every month and orders consistently outpacing supply, the Company is evaluating an expanded production<\/strong> schedule. Worksport\u2019s operational agility is supported by a $2.8\u00a0million\u00a0job\u00a0creation\u00a0grant<\/a>,\u00a0previously\u00a0awarded\u00a0in\u00a02024.<\/p>\n

Dealer momentum has surged<\/a>, with the Company\u2019s distribution footprint growing nearly six-fold\u2014from 94 dealers in Q4 2024 to over 550 today. Many small sample orders have scaled into full recurring partnerships, fueling an aggressive growth flywheel.<\/p>\n

\n Margin Expansion Powers Path To Profitability<\/strong>\n <\/p>\n

\u201cOur ability to double gross margins while boosting production by 50% is a testament to our team\u2019s relentless focus on efficiency,\u201d said Steven Rossi, CEO of Worksport. \u201cThis performance brings us significantly closer to cash flow positivity<\/strong> and long-term value creation.\u201d<\/p>\n

Gross margin has soared from 11% in Q4 2024 to over 23% in May 2025, with projections to surpass 30%<\/strong> by year-end. This margin expansion is driven by increasing factory utilization<\/strong>, rising direct to consumer sales, strategic focus on premium branded products, and the operational leverage of Worksport\u2019s ISO 9001:2015-certified facility in West Seneca, NY. The Company maintains modest margin on dealer sales, committing to its support<\/strong> of brick-and-mortar resellers, the backbone of the US economy.<\/p>\n

\n A Fundamentally Transformed Business<\/strong>\n <\/p>\n

Following revenues of $1.5 million in 2023 and $8.5 million in 2024, Worksport is now on track to eclipse $20 million in revenue in 2025.<\/strong> Recently posting multiple consecutive months<\/a> of record-breaking production, growing market demand, and strong dealer adoption, the Company has rapidly evolved into a high-growth, margin-rich platform. Worksport\u2019s expects it can grow its tonneau cover business to excess of $100,000,000 annually<\/strong> within the short term. It sees the potential for its upcoming portable nano-grid system, the SOLIS and COR<\/a> to vastly exceed that.<\/p>\n

Worksport\u2019s hard covers are Made in America<\/strong>, with predominantly American domestic materials, largely reducing the impact of the Trump administration\u2019s current tariff policies\u2014especially those expected under President Trump\u2019s recently passed \u201cBig Beautiful Bill\u201d targeting imported goods. The Company\u2019s U.S.-based supply chain strategy provides insulation from rising foreign material costs, aligning with national efforts to bolster domestic manufacturing.<\/p>\n

Rossi added, \u201cWe are manufacturing more, putting out higher quality product utilizing framework of our recent ISO certification, growing margins, expanding our dealer footprint, and preparing for a clean-tech product launch that could redefine our future. In our view, 2025 is not just a strong year\u2014it\u2019s a pivotal turning point, which will lead to transformative years ahead.\u201d<\/p>\n

\n Clean-Tech Revolution Incoming: <\/strong>
\n
\n SOLIS & COR<\/strong>
\n <\/a>
\n Launching Fall 2025 <\/strong>\n <\/p>\n

All signs indicate a major inflection point for the Company as it prepares to launch its SOLIS solar-integrated tonneau cover and COR portable nano-grid power system this Fall. Designed to serve a combined $13 billion market<\/strong>, these products represent the Company\u2019s entry into clean-tech and portable power\u2014with high-margin, high-growth, and recurring revenue potential.<\/p>\n

In a powerful validation example, a top 15 U.S. construction company has selected the SOLIS & COR duo for a paid pilot project<\/a>, substantiating both market interest and product innovation.<\/p>\n

\n For further information:<\/strong>\n <\/p>\n

Investor Relations, Worksport Ltd. T: 1 (888) 554-8789 -128<\/strong>
W:\u00a0investors.worksport.com<\/a> W:\u00a0www.worksport.com<\/a> E:\u00a0investors@worksport.com<\/a><\/p>\n

\n
\n Join:<\/strong>
\n <\/a>
\n Worksport\u2019s Newsletter<\/a>\n <\/p>\n

\n About Worksport<\/strong>\n <\/p>\n

Worksport Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of\u00a0tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions.\u00a0Worksport has an active partnership with Hyundai for the SOLIS Solar cover. Additionally, Worksport\u2019s hard-folding cover, designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers including the electric vehicle (EV) sector.\u00a0Worksport seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations with its proprietary solar solutions, mobile energy storage systems (ESS), and Cold-Climate Heat Pump (CCHP) technology.\u00a0Terravis Energy\u2019s website is\u00a0terravisenergy.com<\/a>.<\/p>\n

\n Connect with Worksport<\/strong>\n <\/p>\n

Please\u00a0follow\u00a0the\u00a0Company\u2019s\u00a0social\u00a0media\u00a0accounts\u00a0on\u00a0X\u00a0(previously\u00a0Twitter)<\/a>,\u00a0Facebook<\/a>,\u00a0LinkedIn<\/a>,\u00a0YouTube<\/a>, and\u00a0Instagram<\/a>\u00a0(collectively, the \u201cAccounts\u201d), the links of which are links to external third-party websites, as well as sign up for the Company\u2019s newsletters at\u00a0investors.worksport.com<\/a>.<\/p>\n

\n Social Media Disclaimer<\/strong>\n <\/p>\n

The Company does not endorse, ensure the accuracy of, or accept any responsibility for any content on these third-party websites other than content published by the Company. Investors and others should note that the Company announces material financial information to our investors using our investor relations website, press releases, Securities and Exchange Commission (SEC\u201d) filings, and public conference calls and webcasts. The Company also uses social media to announce Company news and other information. The Company encourages investors, the media, and others to review the information the Company publishes on social media. The Company does not selectively disclose material non-public information on social media. If there is any significant financial information, the Company will release it broadly to the public through a press release or SEC filing prior to publishing it on social media.<\/p>\n

\n Forward-Looking Statements<\/strong>\n <\/p>\n

The information contained herein may contain \u201cforward\u2010looking statements.\u201d Forward\u2010looking statements reflect the current view about future events. When used in this press release, the words \u201canticipate,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cscheduled,\u201d \u201cexpect,\u201d \u201cfuture,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cproject,\u201d \u201cenvisioned,\u201d \u201cshould,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward\u2010looking statements. These statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial situation may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) supply chain delays; (ii) acceptance of our products by consumers; (iii) delays in or nonacceptance by third parties to sell our products; and (iv) competition from other producers of similar products. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company\u2019s filings with the SEC, including, without limitation, our latest Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC\u2019s web site at www.sec.gov<\/u><\/a>. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company\u2019s actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. The forward-looking statements made in this press release are made only as of the date of this press release, and the Company undertakes no obligation to update them to reflect subsequent events or circumstances.<\/p>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

West Seneca, New York, July 07, 2025 (GLOBE NEWSWIRE) — Worksport Ltd. (NASDAQ: WKSP) (\u201cWorksport\u201d or the \u201cCompany\u201d), a U.S. based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, announced today a transformational leap in performance\u2014achieving a 50% increase in monthly production volume since March 2025, while delivering more than a 100% improvement in gross margins over the past five months. These milestones are underscored by readily increasing demand. Record Production Surge Sets the Stage for Strong Growth In May 2025, Worksport produced more units than it did during the entire third quarter of 2024, setting a new monthly production record. This was achieved without adding proportional headcount, signaling … <\/p>\n

Continue reading “Worksport Delivers Record Production With 100%+ Margin Growth as Revenue Tracks Toward $20M Milestone Ahead of Clean-Tech Product Launch”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-866913","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nWorksport Delivers Record Production With 100%+ Margin Growth as Revenue Tracks Toward $20M Milestone Ahead of Clean-Tech Product Launch - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/worksport-delivers-record-production-with-100-margin-growth-as-revenue-tracks-toward-20m-milestone-ahead-of-clean-tech-product-launch\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Worksport Delivers Record Production With 100%+ Margin Growth as Revenue Tracks Toward $20M Milestone Ahead of Clean-Tech Product Launch - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"West Seneca, New York, July 07, 2025 (GLOBE NEWSWIRE) — Worksport Ltd. (NASDAQ: WKSP) (\u201cWorksport\u201d or the \u201cCompany\u201d), a U.S. based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, announced today a transformational leap in performance\u2014achieving a 50% increase in monthly production volume since March 2025, while delivering more than a 100% improvement in gross margins over the past five months. These milestones are underscored by readily increasing demand. Record Production Surge Sets the Stage for Strong Growth In May 2025, Worksport produced more units than it did during the entire third quarter of 2024, setting a new monthly production record. 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(NASDAQ: WKSP) (\u201cWorksport\u201d or the \u201cCompany\u201d), a U.S. based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, announced today a transformational leap in performance\u2014achieving a 50% increase in monthly production volume since March 2025, while delivering more than a 100% improvement in gross margins over the past five months. These milestones are underscored by readily increasing demand. Record Production Surge Sets the Stage for Strong Growth In May 2025, Worksport produced more units than it did during the entire third quarter of 2024, setting a new monthly production record. 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