What is the market's earnings forecast for Worksport next quarter?

What were the key takeaways from Worksport’s earnings call?

What is the revenue and EPS growth rate for Worksport year over year?

What factors drove the changes in Worksport's revenue and profit?

What does Worksport do and what are its main business segments?

Did Worksport beat or miss consensus estimates last quarter?

What is Worksport's gross profit margin?

What were the key takeaways from Worksport's earnings call?

- **Revenue Doubled**: FY2025 net sales reached $616.1M, up 89.8% YoY, with gross margin improving to 28%.
- **Product Expansion**: SOLIS and COR launched in Q4 2025, targeting $35M-$42M FY2026 revenue.
- **Margin Target**: Aiming for 35% gross margin in FY2026, driven by scale and operational efficiency.
- **Tariff Impact**: 50% aluminum price increase since FY2024, leading to product price adjustments.
- **AetherLux Potential**: Exploring monetization of heat pump tech with multi-billion-dollar partners.

**【CEO Summary Section】**
- **Revenue Growth**: Net sales doubled to $616.1 million in FY2025, up 89.8% YoY, driven by direct-to-consumer and B2B sales channel expansion.
- **Margin Expansion**: Gross margin improved to 28% in FY2025 (from 11% in FY2024), with Q4 2025 gross margin at 30.1%.
- **Product Launches**: SOLIS (solar-integrated tonneau covers) and COR (portable energy storage) launched in Q4 2025, though late in the year, setting the stage for FY2026 growth.
- **Operational Milestones**: Dealer network expanded to over 550 locations (6x YoY), and ISO 9001 certification achieved in April 2025.
- **Tariff Challenges**: 50% increase in domestic aluminum prices since FY2024, leading to product price adjustments and temporary Q4 2025 sales volume decline.

**【CFO Financial Commentary】**
- **Net Sales Breakdown**: Hard tonneau covers ($15.7M) and soft covers ($0.5M) in FY2025, with online retailers contributing 74% of net sales.
- **Expense Management**: General & administrative expenses rose 26% to $14.8M, but non-cash items excluded, showing operational efficiency gains.
- **Liquidity Position**: $9.3M in cash and credit as of Dec 31, 2025, supporting FY2026 growth initiatives.
- **Margin Targets**: Aiming for 35% gross margin in FY2026, with focus on scaling production and optimizing sales mix.

**【Q&A Highlights】**
- **Revenue Guidance**: FY2026 revenue range of $35M-$42M, with high end contingent on stable macroeconomic conditions and minimal supply chain disruptions.
- **AetherLux Strategy**: Exploring monetization options (manufacturing, licensing, M&A) for the heat pump technology, with interest from multi-billion-dollar entities.
- **SOLIS/COR Sales**: Early 2026 sales expected to accelerate as marketing assets are fully deployed, with 1,000 COR units and 900 battery packs initially available.
- **OEM Partnerships**: Discussions with major automakers (Ford, GM, Ram) ongoing, with potential announcements in FY2026.


Worksport Ltd (WKSP) Q4 2025 Earnings Call Transcript

- **Revenue Growth**: Q3 2025 revenue of $5 million (+61% YoY) driven by U.S.-made tonneau covers and operational efficiency.
- **Gross Margin Expansion**: 31.3% gross margin (vs. 7.9% in Q3 2024), targeting 35%+ in 2026.
- **Product Launches**: HD3 tonneau cover, Solis solar tonneau cover, and Core portable power system set for Q4 2025 commercialization.
- **Profitability Path**: 2026 cash flow positivity with $27-$35 million U.S. tonneau cover sales and $10+ million Solis/Core revenue.
- **Innovation Pipeline**: Aetherlux heat pump in pre-production, targeting 2026 certification; Core battery system provides 1-4 kWh portable power for electric truck range extension.

**【Management Opening Remarks】**
- Q3 2025 revenue reached $5 million, up 61% YoY, driven by U.S.-made tonneau covers and operational efficiency.
- Gross margin expanded to 31.3%, up from 7.9% in Q3 2024, reflecting scale and fixed cost absorption.
- Launched HD3 heavy-duty tonneau cover for B2B channels and Solis solar tonneau cover/Core portable power system for Q4 2025 commercialization.
- Target 35%+ gross margins in 2026 through production scaling and cost discipline.

**【CFO Financial Commentary】
- Net loss of $4.9 million reflects investment in R&D and marketing for Solis/Core launch.
- Cash position of $3.8 million with $3.3 million available on revolving credit facility.
- Total indebtedness reduced to $2.9 million, down from $5.3 million at year-end 2024.
- Operating expenses grew 52% YoY to $6.4 million, driven by Solis/Core launch costs.
- 2025 revenue guidance of $17-$21 million, with 2026 U.S. tonneau cover sales projected at $27-$35 million.

**【Q&A Highlights】
- Tonnue cover market demand resilient at $3 billion+ annualized, with shift to higher-margin SKUs.
- Solis and Core to launch direct-to-consumer via e-commerce, with initial 1,000 Core units and 900 Solis systems.
- Margin improvement driven by 50% reduction in labor hours/unit and domestic supply chain efficiency.
- International expansion prioritizing Latin America, EU, and Middle East for Core portable power systems.
- Aetherlux heat pump in pre-production testing, targeting 2026 certification and manufacturing.
- Core battery system provides 1-4 kWh portable power, enabling 30-40 miles of electric truck range extension.

Worksport Ltd. (WKSP) Q3 2025 Earnings Call Transcript

- **Revenue Surge**: Q2 2025 revenue of $4.1M (+114% YoY) driven by dealer expansion and e-commerce, with June sales hitting $1.6M (annualized $19.2M).
- **Margin Expansion**: Gross margin improved to 26.4% (up 800bps YoY), targeting 30%+ by year-end through production efficiency gains.
- **New Product Momentum**: HD3, SOLIS, and COR set to launch Q3/Q4, with AetherLux heat pump attracting $100M+ in potential revenue inquiries.
- **Cash Flow Path**: Operating cash outflow improving 19% QoQ to $3.1M; targeting breakeven by late Q4 2025 via core tonneau cover profitability.
- **Strategic Growth**: $10M Reg A offering to fund expansion, with 8% dividend preferred shares and warrants at $4.50 strike price.

**【CEO Opening Remarks】**
- Q2 2025 marked record quarterly revenues and gross margin expansion, driven by dealer network growth and e-commerce sales.
- Highlighted operational efficiency improvements and the launch of new products (HD3, SOLIS, COR) as key growth drivers.
- Emphasized the company's focus on scaling production to meet demand and achieving cash flow positivity by late 2025.

**【CFO Financial Highlights】**
- **Revenue**: $4.1 million (114% YoY growth), with 83% sequential increase from Q1 2025.
- **Gross Profit**: $1.08 million (173% YoY growth), with gross margin improving to 26.4% (up 800bps YoY).
- **Operating Expenses**: $4.7 million (flat QoQ despite higher revenues), with G&A down 18% QoQ to $2.45 million.
- **Cash Flow**: Operating cash outflow improved 19% QoQ to $3.1 million; cash balance $1.39 million with $4.76 million credit facility availability.

**【CEO Operational Updates】**
- **Dealer Network**: Added 2 national distributors in Q2, bringing total dealer network to over 450 accounts.
- **E-commerce**: Direct sales accounted for >50% of unit volumes, with June sales hitting $1.6 million (run rate $19.2 million annualized).
- **Production Scaling**: Targeting 200 units/day by late Q3 (up from 50/day at Q1 start), with July production reaching 130/day.
- **New Products**: 
  - **HD3**: Heavy-duty tonneau cover for B2B/commercial markets, set to launch Q3.
  - **SOLIS**: Solar-integrated tonneau cover in beta testing, targeting Q4 launch.
  - **COR**: Portable power station nearing mass production, projected Q4 launch alongside SOLIS.
  - **AetherLux**: Cold-climate heat pump with $123B global market potential, attracting $100M+ in potential revenue inquiries.

**【Q&A Highlights】**
- **Gross Margin Growth**: 3-5 hours/unit production time reduction and material cost savings ($20/unit) driving 30%+ gross margin target by year-end.
- **COR/SOLIS Ramp-Up**: Initial production of 1,000 units each, with COR battery sales expected to accelerate demand.
- **Reg A Offering**: $10M target to fund 2025/2026 growth, with 8% dividend preferred shares and warrants at $4.50 strike price.
- **AetherLux Strategy**: Potential for licensing or partnerships with large corporations, with Q4 2025 commercial testing underway.
- **Tariff Impact**: 5-10% cost increase offset by operational efficiencies; core tonneau cover business expected to achieve cash flow positivity independently of new products.


Worksport Ltd. (WKSP) Q2 2025 Earnings Call Transcript

- **Revenue surge**: Q1 2025 revenue up 337% YoY to $2.24 million, fueled by AL4 tonneau cover sales.
- **Margin expansion**: Gross margin jumps to 18% (from 7% YoY), targeting 25%-30% by late 2025.
- **Dealer network growth**: 151 active dealers (+64% YoY), B2B sales up 70% in March.
- **New product pipeline**: SOLIS solar cover and COR energy storage system set for late 2025 launches.
- **Cash flow target**: Breakeven by Q4 2025/Q1 2026, supported by $5.08 million cash balance.


**【CEO Opening Remarks】**
- Q1 2025 revenue reached $2.24 million, up 337% YoY, driven by the launch of the AL4 tonneau cover and a strategic shift to higher-margin branded products.
- Gross margin improved to 18% (Q1 2024: 7%), with AL4 sales already contributing significantly to Q2 revenue.
- Dealer network expanded to 151 active dealers (+64% YoY), with B2B sales growing nearly 70% in March.
- New product pipeline includes HD3 (commercial-focused tonneau cover), SOLIS (solar-integrated cover), and COR (portable energy storage system), targeting the $123 billion portable energy market.

**【CFO Financial Details】**
- Q1 2025 gross profit: $396,000 (18% margin vs. 7% YoY), driven by higher-margin AL4 sales and operational efficiency.
- Operating expenses: $4.65 million (+26% YoY), reflecting investments in marketing, R&D, and sales team expansion.
- Cash balance: $5.08 million, with $5.7 million in inventory (50% raw materials) to support 2025 sales targets.
- Targeting 25%-30% gross margin by late 2025 and cash flow breakeven by Q4 2025/Q1 2026.

**【CEO Operational Highlights】**
- AL4 production capacity to scale to 200 units/day by Q3 2025, supporting $45 million+ annual e-commerce revenue.
- SOLIS beta testing underway, with solar panels sourced from India to mitigate tariffs.
- COR portable power system nearing mass production, targeting a broader consumer market.
- Terravis Energy's AetherLux heat pump eliminates defrost cycles and operates in -57°F, generating global interest.

**【CFO 2025 Guidance】**
- Full-year revenue: $20-$25 million (primarily from tonneau covers), with potential upside from SOLIS and COR.
- Gross margin to reach 25%-30% by late 2025, driven by economies of scale and phasing out private-label products.
- Capital expenditures: Moderate, focused on production scaling and automation enhancements.
- Cash flow breakeven target: Q4 2025/Q1 2026, with disciplined expense management.

**【Q&A Key Takeaways】**
- AL4 sales are exceeding expectations, with stock shortages in Q1.
- SOLIS and COR will initially be sold direct-to-consumer, with potential B2B distribution later in 2025.
- Gross margin improvements are driven by both scaling efficiencies and premium pricing strategies.
- Soft cover production is being transitioned to North America, with equipment already in place.


Worksport Ltd. (WKSP) Q1 2025 Earnings Call Transcript

- **Record Growth**: FY2024 revenue surged 455% to $8.48 million, driven by online sales and dealer expansion.
- **Margin Expansion**: Q4 gross margin improved to 21%, with December exceeding 20%; targeting 25-30% by late 2025.
- **New Products**: SOLIS and COR launches in mid-2025 could add $14.5 million to FY2025 revenue.
- **Liquidity Strength**: $4.88 million cash on hand and $6.3 million raised in Q1 2025 support growth initiatives.
- **Breakeven Ambition**: Aiming for cash flow breakeven by late 2025 through revenue growth and cost control.

**CEO Summary Section**
- **Revenue Growth**: FY2024 net sales reached $8.48 million, a 455% increase from FY2023, driven by online sales growth (58% of total revenue vs. 7% in 2023) and new dealer partnerships.
- **Product Expansion**: Introduced premium AL4 and HD3 covers, with AL4 shipments beginning in Q1 2025. SOLIS solar cover and COR battery system expected to launch mid-2025, targeting 25-30% gross margins.
- **Market Expansion**: Expanded into government and fleet sectors, with initial orders from U.S. federal agencies and 30% dealer network growth in Q1 2025.

**CFO Financial Commentary**
- **Q4 2024 Performance**: Net sales of $2.93 million, up 250% YoY. Gross margin improved to 21% in Q4, with December margins exceeding 20%.
- **2025 Guidance**: Revenue target of $20-34.5 million, with $20 million based on tunnel cover sales alone and $14.5 million from SOLIS and COR. Gross margin expected to reach 25-30% by late 2025.
- **Liquidity**: $4.88 million cash on hand as of Q4 2024, with $6.3 million raised in March 2025 via warrant inducement.

**Q&A Highlights**
- **Sales Channel Strategy**: Aiming for 50-50 split between direct-to-consumer and dealer sales, with exclusive products for each channel.
- **R&D Investment**: FY2024 R&D expenses of $2.3 million focused on COR prototype development; FY2025 R&D expected to decrease.
- **Breakeven Path**: Projected cash flow breakeven by late 2025, contingent on hitting the upper end of revenue guidance and margin improvements.

Actual	-0.8	-1.5	-1.7	-2	-1.7	-2	-2.1	-2.2	-2.3	-2	-1.8	-1.5	-1.4	-1.26	-1.05	-0.71	-0.75	-0.535
Forecast			-1	-1.55	-2.2	-1.8	-2.1	-2.2	-2.5	-2.4	-1.9	-1.3	-1.3	-1.2767	-0.9633	-0.835	-0.62	-0.535
Surprise	0.00%	0.00%	-70.00%	-29.03%	+22.73%	-11.11%	0.00%	0.00%	+8.00%	+16.67%	+5.26%	-15.38%	-7.69%	+1.31%	-9.00%	+14.97%	-20.97%	0.00%

WKSP

WKSP fundamentals

WKSP Q4 2025 Earnings

Earnings Call

You can ask Aime

WKSP

WKSP fundamentals

WKSP Q4 2025 Earnings

Earnings Call

WKSP Earnings Call Summary for Q4/20254:30 PM on Mar 26, 2026

WKSP Earnings Call Summary for Q3/20258:30 AM on Nov 13, 2025

WKSP Earnings Call Summary for Q2/20251:00 PM on Aug 13, 2025

WKSP Earnings Call Summary for Q1/20254:30 PM on May 15, 2025

WKSP Earnings Call Summary for Q4/20248:30 AM on Mar 27, 2025

You can ask Aime