Welcome to our dedicated page for Worksport news (Ticker: WKSP), a resource for investors and traders seeking the latest updates and insights on Worksport stock.
Worksport Ltd (WKSP) delivers innovative solutions through its automotive accessories and sustainable energy systems. This news hub provides investors and industry observers with official updates on corporate milestones, product developments, and financial performance.
Access timely press releases covering earnings reports, manufacturing advancements, and technological breakthroughs in solar integration. Track strategic partnerships and regulatory filings that shape the company's position in both automotive and clean energy markets.
Our curated collection ensures transparent access to Worksport's operational updates without speculative analysis. Discover announcements about new tonneau cover designs, hydrogen energy initiatives, and intellectual property developments directly from primary sources.
Bookmark this page for streamlined monitoring of Worksport's progress in merging automotive functionality with sustainable technology. Verify all information through official SEC filings and company communications linked within each news item.
Worksport reported strong Q4 2024 unaudited results with revenue of $2.93 million, up from $839,000 in Q4 2023. Full-year revenue reached $8.5 million, exceeding previous guidance of $6-8 million. December 2024 margins increased significantly to 21.1%, representing a 166% jump from Q3, while Q4 margins showed a 55% improvement over Q3 2024.
The company's strategic shift towards higher-value, branded products and Made in America initiatives contributed to margin growth. Looking ahead to 2025, Worksport targets over $20 million in tonneau cover sales and plans to launch new products including the SOLIS solar tonneau cover and COR mobile power system. The company is focusing on expanding its dealer network and developing strategic partnerships to enhance market reach.
Worksport (NASDAQ: WKSP) has announced the expansion of its product line with a new premium tri-fold tonneau cover, the HD3, scheduled for production in Spring 2025. This follows the imminent launch of their AL4 model, which begins shipping in January 2025.
The HD3 will feature enhanced design elements including a six-point latching system, premium security, and hydrophobic Diamond Shield ceramic infused finish, with a minimum advertised price of $799. The product joins Worksport's existing lineup alongside the entry-level AL3 ($699) and premium four-fold AL4 ($999).
The company is also progressing with its COR mobile power system and SOLIS solar tonneau cover, currently in alpha-release. These clean-tech innovations are positioned to enter multi-billion-dollar markets. Additionally, Worksport's subsidiary Terravis Energy is developing engineering breakthroughs, with more details expected in coming weeks.
Worksport (NASDAQ: WKSP) reflects on a transformative 2024 and provides outlook for 2025. The company projects exceeding its 2024 revenue guidance of $8 million, up from $1.5 million in 2023. Key 2024 achievements include full-scale production at its U.S. factory, a $2.8M Manufacturing Grant from New York State, and 30% increase in factory staffing.
The company experienced significant growth with 275% revenue increase from Q1 to Q2 2024, followed by a 63% surge in Q3. B2B branded business saw over 200% growth in H2 2024. Looking ahead to 2025, Worksport plans to launch its AL4 tonneau cover in Q1 and SOLIS/COR products in Q2/Q3, targeting increased gross margins, ISO certification, and cash flow positivity.
Worksport (NASDAQ: WKSP) has launched a new investor relations website featuring their strategic vision targeting a $13B market. The company reported significant growth with 581% year-over-year sales increase in Q3 and plans to launch three new products in 2025, including the AL4 tonneau cover, SOLIS solar tonneau cover, and COR mobile power system.
The company has secured pre-orders for its AL4 tonneau cover from two major distributors and expects its tonneau cover business to reach 9-figures in revenue within the next few years. Recent achievements include 51% B2C and 60% B2B sales growth in November, a 30% increase in production capacity, and projected savings of over $2MM from new strategic initiatives.
Worksport (NASDAQ: WKSP) reported significant growth milestones in December 2024, including a 117% expansion in dealer network since September and securing pre-orders for its upcoming AL4 tonneau cover from major U.S. distributors. The company announced plans to allocate up to $5 million in Bitcoin and XRP, capped at 10% of excess cash, as part of its treasury management strategy. Recent performance shows a 51% increase in B2C sales and 60% rise in B2B sales. The company is preparing to launch its AL4 tonneau cover, followed by SOLIS solar tonneau cover and COR mobile power system in 2025. Following a December 8 appearance on FOX & Friends, Worksport has gained increased national visibility for its American-made products.
Worksport (WKSP) made its national television debut on FOX & Friends Weekend, where CEO Steven Rossi showcased the company's upcoming SOLIS solar tonneau cover and COR portable energy system. The segment, part of the show's 'Made in America' feature, highlighted Worksport's commitment to domestic manufacturing and clean energy solutions.
The appearance on FOX & Friends Weekend, which averages 1.2 million viewers per episode, received positive feedback from producers and is expected to boost brand visibility. The company views this media exposure as a strategic opportunity to reach potential customers and secure additional national media coverage.
The showcase focused on Worksport's clean-tech initiatives in sustainable mobility and off-grid power solutions, which align with the company's growth strategy for 2025, aiming to drive revenue growth and improve margins.
Worksport (NASDAQ: WKSP) announces its upcoming appearance on FOX & Friends, America's most-watched cable news morning show, scheduled for December 8th, 2024, at 7:30 AM ET. CEO Steven Rossi will showcase the company's innovative product lineup, including the AL4 Premium tonneau cover, SOLIS solar cover, and COR portable energy system to an audience exceeding one million live viewers.
The presentation will feature two pickup trucks equipped with Worksport's solutions at FOX Plaza in Manhattan. The company will offer an exclusive discount code for purchases through their e-commerce platform during the broadcast. The appearance represents a strategic milestone for Worksport's expansion, targeting multi-billion dollar markets with their clean energy solutions for the light truck sector.
Worksport (WKSP) reports significant sales growth in November 2024, with B2C sales increasing 51% and B2B sales rising 60% compared to September. The company has strategically discontinued private label sales to focus exclusively on higher-margin Worksport branded products. Daily sales during the holiday period surged to over three times the Q3 record.
The company is approaching its target of $1M in monthly B2C sales and has seen notable gross margin improvements in November compared to Q3 2024. Worksport is preparing for the launch of three new products in 2025: the premium AL4 tonneau cover and the clean-tech power generation systems SOLIS and COR.
Worksport (NASDAQ: WKSP) announces a strategic move into cryptocurrency, planning to adopt Bitcoin (BTC) and XRP for its corporate treasury. The Board approved purchases of up to $5 million in cryptocurrencies, to 10% of excess operational cash. The company will also accept crypto payments on its e-commerce platform, with expected transaction cost savings of up to 37%.
The initiative includes converting interest earnings from money market accounts into cryptocurrencies and potentially allocating a portion of future capital raises to BTC and XRP holdings. This strategy follows strong Q3 2024 performance, with revenue reaching $3.12 million, representing a 581% year-over-year increase from $458,433 in Q3 2023.
Worksport (NASDAQ: WKSP) has announced a strategic move into cryptocurrency, planning to adopt Bitcoin (BTC) and XRP (Ripple) for its corporate treasury. The company's Board of Directors has approved purchases of up to $5 million in cryptocurrencies, to 10% of excess operational cash.
The strategy includes accepting cryptocurrency payments on their e-commerce platform, which is expected to reduce transaction processing fees by up to 37%. The company may also convert interest earnings from money market accounts into cryptocurrencies and allocate a portion of future capital raises to BTC and XRP holdings.
This initiative comes amid strong financial performance, with Q3 revenue reaching $3.12 million, representing a 581% year-over-year increase from $458,433 in Q3 2023.
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