Company Achieves Consistent Growth With Four Straight Record Months; Gross Margin Expands 2,000+ Basis Points in Three Quarters; Production Hits Strongest Levels to Date
West Seneca, New York, Sept. 09, 2025 (GLOBE NEWSWIRE) -- Worksport Ltd. (NASDAQ: WKSP) ("Worksport" or the "Company"), a U.S.-based innovator and manufacturer of hybrid and clean energy solutions primarily for the light truck, overlanding, and global consumer goods markets, today reported that July 2025 revenue reached $1.71 million (unaudited), marking the fourth consecutive monthly sales record. In tandem, gross margin expanded to 31% in July, meaning Worksport achieved its year-end 30% margin goal one quarter early. The Company expects a continual upward trend in revenue and gross margin.
Operating Momentum and Financial Highlights
- Four straight monthly records:
- April (~$1.2M), May (~$1.3M) June (~$1.6M), July ($1.71M).
- Gross margin ramp:
- 31% in July, up from 26% in Q2 2025, 18% in Q1 2025, and 11% in Q4 2024.
- Annualized run-rate (non-GAAP):
- July performance paces above $20M+. Expected to continue to grow every month.
- Production strength:
- July production reached the Company's strongest levels to date, driven by scale and manufacturing efficiencies.
- Product catalysts:
- HD3 heavy-duty tonneau cover (expected Q3);
- SOLIS solar cover and COR modular power system (expected Q4).
- Proprietary ZeroFrost Heat Pump Technology (expected 2026)
CEO Commentary
"Four consecutive record months and 31% gross margin underscore that our U.S. manufacturing model and American-made products are winning in the marketplace," said Steven Rossi, Worksport CEO. "We believe our execution is positioning Worksport on a disciplined path toward sustained profitability and long-term shareholder value. With HD3, SOLIS, and COR on deck this year - and continued operational scale - we see a compelling setup for the back half of 2025."
Growth Trajectory
At July's run rate, Worksport is pacing above $20M+ in annualized sales (non-GAAP), in line with reaffirmed full-year guidance. Management continues to expect full-year 2025 revenue of at least $20 million with gross margins consistent at 30%+ by year-end. The Company anticipates the upcoming launches of its HD3 heavy-duty tonneau cover (Q3) and its flagship SOLIS solar tonneau and COR portable power system (Q4) will add further growth catalysts.
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Contacts
Investor Relations, Worksport Ltd. T: 1 (888) 554-8789-128
W: investors.worksport.com W: www.worksport.com E: investors@worksport.com
Connect with Worksport Chief Executive Officer, Steven Rossi
Steven Rossi X (Twitter)
Steven Rossi LinkedIn
About Worksport
Worksport Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions. Worksport has an active partnership with Hyundai for the SOLIS Solar cover. Additionally, Worksport's 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. Worksport 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. Terravis Energy's website is terravisenergy.com.
Connect with Worksport
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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") 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.
Forward-Looking Statements
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