Worksport Ltd Stock Price, News & Analysis

Worksport (NASDAQ: WKSP) reports record-high August 2024 net sales of $1,213,604.28, pushing its Annual Recurring Revenue (ARR) to $14.56 million. This surpasses the 2023 year-end revenue of $1.53 million and positions the company to exceed its 2024 revenue guidance of $6-8 million. CEO Steven Rossi highlights the company's undervaluation and strong upside potential. Worksport aims for cash flow positivity within 2025 and projects $15-20 million in tonneau cover segment revenues for FY 2025. The company is launching new product lines, including the AL4 Hard Tonneau Cover, SOLIS Solar Tonneau Cover, and COR Portable Energy System, targeting multi-billion-dollar market opportunities. Worksport expects to become a $100M+ revenue company in the near-to-midterm.

Worksport (NASDAQ: WKSP) announces successful lab test results of its COR portable energy system as a range extender for Tesla electric vehicles. The COR Hub + Battery, carrying over 1.7 kWh of power, demonstrated the ability to add approximately seven miles of range to a Tesla Model 3 as a Level 1 power source. This development addresses range anxiety, a key factor in broader EV adoption.

The modular COR system allows users to add more batteries, each providing 1.5 kWh of power. Worksport's SOLIS solar tonneau cover, designed to work with COR, can charge the 1.5kWh COR battery 2-3 times daily under optimal conditions. The company is also exploring partnerships for Level 2 EV Charging Solutions. Worksport aims to launch these energy products soon while focusing on building partnerships and securing long-term contracts with industry leaders.

Worksport (NASDAQ: WKSP) has announced the release of new tonneau cover applications for various truck models, expanding its market reach. The company's engineering team has introduced 19 new models over the past six months, compatible with trucks from General Motors, Ford, Toyota, Nissan, and Honda. This expansion aligns with Worksport's growth strategy in the $4 billion tonneau cover market, which sells over 7 million covers annually.

Worksport reported a 275% revenue growth in Q2 2024 and is preparing to launch innovative products in 2024, including the SOLIS Solar Cover and COR Portable Energy System. The company's engineering team, with over 100 years of combined industry experience, is driving this rapid product expansion and innovation in the light truck accessories market.

Worksport (NASDAQ: WKSP) has successfully launched its Dealer Sales Initiative, a key part of its long-term growth strategy. The company has expanded its sales team, engaging with over 4,500 dealers and plans to double its sales force soon. Worksport has attracted attention from three major distributors in the USA and Canada, positioning itself for accelerated growth in the $4 billion tonneau cover market.

The company's Western New York factory is poised for significant revenue growth, potentially reaching nine-figure revenue in the near-midterm. Worksport is preparing to launch three more innovative products this year, including the highly anticipated AL4 premium cover in Q4. CEO Steven Rossi emphasized the company's commitment to supporting local US-owned businesses and expects explosive growth in 2025.

Worksport ($WKSP), a U.S.-based manufacturer of hybrid and clean energy solutions for light trucks, has published responses to investor questions from its Q2 earnings call and Investor Q&A Portal. The company reported record-high revenues in Q2 2024, with a 274% growth from Q1 2024. Key highlights include:

- Production of SOLIS and COR Alpha units is underway, with release expected in September.
- The AL3 model is gaining traction, with a target of exceeding $1 million in Monthly Recurring Revenue by year-end.
- The premium AL4 line is scheduled for release in Q4 2024.
- Worksport aims to achieve operational cash flow positivity by 2025.
- The company's market cap was $19.67MM as of August 21, 2024, with a book value of $19.15MM.

Worksport is on track to meet or exceed its 2024 revenue guidance of $6-8 million and projects $15-20 million in revenue for FY 2025 from the tonneau cover segment alone.

Worksport ($WKSP) has begun production of its COR Alpha portable energy system, with an Alpha launch expected in September. The company reports positive test results, highlighting the system's superior performance in extreme conditions compared to competitors. Key features include smart capabilities, advanced MPPT technology, and hot swap functionality in the Pro version.

The COR system integrates with Worksport's SOLIS solar tonneau cover, creating a clean-tech nano grid for various applications. Worksport is targeting the rapidly growing portable power station market, positioning itself against a leading Chinese competitor. The company recently announced record-high revenues for Q2 2024 and expects continued growth.

Worksport (NASDAQ: WKSP) reported impressive Q2 2024 financial results, with revenue reaching a record $1.92 million, representing an 860% increase from Q2 2023 and a 275% growth from Q1 2024. The company attributes this surge to its new Buffalo factory and marketing initiatives. Gross profit margins improved to 15.4%, a 111% increase from Q1. Worksport anticipates continued growth, projecting $6-8 million in revenue by year-end 2024 for its tonneau cover business alone. The company is also launching new clean-tech products, SOLIS and COR, in September. CEO Steven Rossi reaffirmed his belief that the stock is undervalued, expressing confidence in Worksport's potential to become a 9-figure, middle market company in the short to mid-term.

Worksport (NASDAQ: WKSP) has announced the establishment of a Q&A portal for enhanced investor engagement ahead of its Q2 2024 earnings call on August 13, 2024, at 4:30 PM ET. The call will cover Q2 financial results, sales trajectory, operational success, future plans, and product launches, including the COR & SOLIS systems. CEO Steven Rossi emphasized Q2 as a dynamic quarter marking the beginning of continued sales growth. He also stated that Worksport is undervalued and has much to share with investors. The company reported a 1,506% Q1 revenue surge and was recently awarded a $2.8 million grant. Worksport is focusing on achieving cash flow positivity, enhancing product margins, and expanding market presence with innovative products.

Worksport (NASDAQ: WKSP) has announced impressive test results for its SOLIS solar tonneau cover, which is entering the final live-testing phase. The company is preparing for an Alpha launch this summer, targeting multiple high-growth billion-dollar markets. Key points include:

1. SOLIS can generate up to 680W of power, depending on conditions and truck bed size.
2. The system can charge up to 45 iPhone 14's per hour.
3. Worksport is inviting media and tech journalists for exclusive early access.
4. The SOLIS and COR systems work together as a clean-tech nano grid.
5. A mobile app will provide real-time insights into power usage and generation.
6. The company plans to track solar power generation from all SOLIS covers, potentially accumulating valuable data and qualifying for carbon credits.