Worksport Ltd Posts Record Revenue, Expands Dealer Network and Production Capacity

Worksport Ltd reported record revenue of $4.1 million in Q2 2025, a 114% YoY growth and 83% sequential increase. Gross margin expanded by 800 basis points to 26.4%, and the company is scaling production to 200 units/day by late Q3 2025. New products are expected to launch in H2 2025, and operational losses improved to $3.62 million. However, operating expenses rose to $4.7 million, and cash and cash equivalents decreased to $1.39 million. The company aims to achieve cash flow positivity and profitability in the near future.

Title: Worksport Posts Fourth Consecutive Monthly Sales Record in July 2025

Worksport Ltd. (NASDAQ: WKSP) has reported its fourth consecutive monthly sales record, achieving a remarkable milestone with $1.71 million in revenue for July 2025. This significant growth comes on the heels of a strong second quarter, where the company reported record revenue of $4.1 million, a 114% year-over-year (YoY) increase and an 83% sequential increase [1].

The company's gross margin expanded to 31% in July, surpassing its year-end goal of 30% by a quarter. This impressive performance underscores Worksport's ability to maintain profitability despite increased production volumes and new product launches. The company expects a continual upward trend in both revenue and gross margin, driven by its robust manufacturing strategy and innovative product portfolio [1].

Worksport's Chief Executive Officer, Steven Rossi, will be interviewed live today at 3:15 p.m. ET on Schwab Network's Market on Close to discuss the July results and the company's outlook. The interview is expected to cover topics such as Worksport's accelerating growth, its Made-in-America manufacturing strategy, and upcoming product launches, including the SOLIS solar-integrated tonneau cover and COR portable power system [1].

The company's production strength reached its highest levels to date in July, driven by scale and manufacturing efficiencies. This performance is a testament to Worksport's commitment to operational excellence and its ability to meet growing demand. The upcoming launches of the HD3 heavy-duty tonneau cover, SOLIS solar cover, and COR modular power system are expected to serve as additional growth catalysts in the coming quarters [1].

Looking ahead, Worksport remains on track to achieve at least $20 million in top-line revenue in 2025, with consistent gross margins of 30% or higher by year-end. The company's ambitious sales strategy, which includes partnerships with major automotive manufacturers and a focus on the electric vehicle (EV) sector, positions it well for continued growth in the clean energy market [1].

However, Worksport faces challenges such as supply chain delays and competition from other producers of similar products. The company will need to navigate these challenges effectively to maintain its growth trajectory and achieve its long-term goals [1].

References
[1] https://www.marketscreener.com/news/breaking-worksport-posts-fourth-consecutive-monthly-sales-record-in-july-2025-gross-margin-reaches-ce7c50d8da81fe23