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, under its subsidiaries, is a leading designer, developer, and manufacturer of tonneau covers, solar integrations, and hydrogen-based green energy solutions. The company's innovative products cater to the automotive and clean energy industries, with a focus on sustainability and eco-friendly solutions. Worksport has reported significant revenue growth, operational successes, and strategic collaborations, positioning itself as a key player in the market.
Worksport's product lineup includes soft vinyl and hard aluminum tonneau covers, as well as upcoming first-to-market solar tonneau covers and portable energy systems. The company's recent financial results for Q1 FY 2024 showcased impressive revenue increases, operational efficiencies, and gross margin improvements. Worksport's strategic investments in production, inventory, and expansion highlight its commitment to growth and innovation.
With a robust intellectual property portfolio, Worksport is well-positioned to lead the market with cutting-edge technologies and groundbreaking products. The company's partnerships, distribution networks, and growth forecasts underscore its trajectory towards transformative success in the automotive and clean energy sectors.
Worksport (NASDAQ: WKSP) has announced two significant sales milestones in early 2025. The company's dealer network has expanded by 30%, adding 24 new dealer locations. Additionally, their new flagship AL4 Premium Tonneau Cover is now available for purchase on worksport.com.
The company has shown substantial growth, increasing sales from $1.5M in 2023 to a run rate of approximately $1MM per month in 2024. Management expects the AL4 to become their best-selling tonneau cover, driving sales and margins for 2025. The company plans to have 5 AL4 models available by February 2025 end, with new models being added monthly.
Worksport is also preparing to launch additional products later in 2025, including the SOLIS solar tonneau cover and the COR portable nano-grid system, as part of their clean-tech solutions portfolio.
KULR Technology Group (NYSE: KULR) and Worksport (NASDAQ: WKSP) have announced a strategic partnership focused on battery technology advancement and domestic manufacturing. The collaboration encompasses three main areas: joint development of Worksport's COR Battery Pack System, AI-integrated battery management system software, and thermal runaway protection integration.
The partnership leverages KULR's K1-DS platform for performance evaluation and safety testing, with the first generation of Worksport SOLIS and COR scheduled for release in H2 2025. After expanding U.S. production in 2024, Worksport's revenue increased by over 450% from 2023 to 2024, achieving a monthly run rate exceeding $1 million. The company projects potential nine-figure revenues within 2-3 years.
The collaboration aims to capitalize on the growing portable energy system market, projected to reach $21.95-24.8 billion by 2032 with a CAGR of 16-24%. The partnership focuses on domestic manufacturing to meet increasing U.S.-based production demand.
Worksport (NASDAQ: WKSP) has announced a major breakthrough through its subsidiary Terravis Energy with the unveiling of AetherLux™, a revolutionary heat pump system. The innovation features proprietary ZeroFrost™ technology that eliminates the need for defrost cycles, a common drawback in conventional heat pumps.
The system operates effectively from -57°F to 131°F, setting new industry standards in the global heat pump market, which is projected to reach $148 billion by 2030. The product line includes two variants: the standard AetherLux Performance Unit (operating to -13°F) and the AetherLux Pro Ultra-Performance Unit with ZeroFrost™ technology.
Key features include an estimated COP of 3.0-3.5 at -57°F, HSPF of 11.0-12.5, AI-driven optimization, and R32 refrigerant compliance with 2025 Clean Air Act regulations. The system promises enhanced efficiency, reduced energy consumption, and improved operational lifespan.
Worksport (NASDAQ: WKSP) announced that its subsidiary, Terravis Energy, has unveiled the revolutionary AetherLux™ heat pump system. The system features proprietary ZeroFrost™ technology that eliminates the need for defrost cycles, a common drawback in conventional heat pumps.
The system operates effectively from -57°F to 131°F, setting new industry standards in a market projected to reach $148 billion by 2030. The AetherLux product line will include three models, with the Pro Model featuring the ZeroFrost technology. Key features include high efficiency with an estimated COP of 3.0-3.5 at -57°F, AI-driven optimization, and R32 refrigerant compliance with 2025 Clean Air Act regulations.
Two variants will be available: the Performance Unit (operating to -13°F) in 18,000 and 36,000 BTU units, and the Pro Unit featuring ZeroFrost technology for extreme conditions.
Worksport (NASDAQ: WKSP) subsidiary Terravis Energy has unveiled the revolutionary AetherLux™ heat pump system, featuring proprietary ZeroFrost™ technology that eliminates defrost cycles, a common drawback in traditional heat pumps. The system operates effectively from -57°F to 131°F, setting new performance standards in the heat pump market.
The product line includes two variants: the standard AetherLux Performance Unit (operating from -13°F to hot temperatures) and the AetherLux Pro with ZeroFrost technology. Key features include defrost-free design, high efficiency with COP of 3.0-3.5 at -57°F, HSPF of 11.0-12.5, AI-driven optimization, and R32 refrigerant compliance with 2025 Clean Air Act regulations.
The innovation targets a global heat pump market projected to exceed $148 billion by 2030, growing at 9.4% CAGR. The system will be available in 18,000 and 36,000 BTU units, with pricing and preorder details forthcoming.
Opthea (ASX/NASDAQ:OPT), a clinical-stage biopharmaceutical company focused on developing novel therapies for retinal diseases including wet age-related macular degeneration (wet AMD), has announced its participation in Oppenheimer's 35th Annual Healthcare Life Sciences Conference.
The company's Chief Executive Officer, Frederic Guerard, PharmD, will deliver a presentation on Tuesday, February 11, 2025, at 10:00 AM ET and will be available for one-on-one meetings during the conference, which runs from February 11-12, 2025. The presentation will be accessible via webcast and will also be available on the company's investor relations website.
Chipotle Mexican Grill (CMG) reported strong fourth quarter and full year 2024 results. Q4 total revenue increased 13.1% to $2.8 billion, with comparable restaurant sales up 5.4%, driven by 4.0% transaction growth. Operating margin improved to 14.6% from 14.4% year-over-year.
For full year 2024, total revenue grew 14.6% to $11.3 billion, with comparable sales increasing 7.4%. The company opened 304 new company-owned restaurants, including 257 with Chipotlanes, bringing the total restaurant count to 3,726. Digital sales represented 35.1% of total food and beverage revenue.
The company repurchased $995.8 million of stock in 2024 at an average price of $57.21 per share. For 2025, management anticipates low to mid-single digit comparable restaurant sales growth and plans to open 315-345 new company-owned restaurants.
Worksport (NASDAQ: WKSP) has initiated shipments of its flagship AL4 tonneau cover to select customers, receiving highly positive initial feedback. The company plans to ramp up production to 1,200 units in the next 30 days, with expectations to double output shortly after while maintaining existing AL3 production.
The AL4 Hardcover, engineered with American aluminum, represents an evolution in the company's premium tonneau cover lineup. Major distributors have shown strong interest and praised its build quality, ease of use, and features.
Looking ahead, Worksport plans to expand AL4 availability to e-commerce customers and maintains its schedule for releasing the SOLIS solar tonneau cover and COR mobile power system later in 2025. Additionally, the company's subsidiary, Terravis Energy, has announced an AI-supported heat pump technology breakthrough, with a full reveal expected in eight days.
Worksport (NASDAQ: WKSP) has initiated its cryptocurrency treasury strategy with a six-figure purchase of Bitcoin (BTC) and Ripple (XRP). This move follows the company's December 2024 announcement to invest excess cash reserves in cryptocurrencies. The strategy aims to hedge against inflation and capitalize on the growing cryptocurrency market.
The company plans to integrate cryptocurrency payment options on Worksport.com to reduce transaction fees and expand payment methods. Worksport reports strong business growth with improving revenues and margins, and projects the release of three new products and approaching cash flow positivity in 2025. The company maintains a long-term view on its crypto holdings and plans to increase its position as excess cash grows.
Worksport (NASDAQ: WKSP) has selected Coinbase as its official cryptocurrency custodian, following the company's December 2024 announcement of its Cryptocurrency Treasury Strategy. The partnership enables Worksport to hold portions of its surplus cash reserves in Bitcoin (BTC) and XRP, leveraging Coinbase's regulatory compliance, security measures, and insurance-backed custody solutions.
This strategic move aligns with Worksport's growth initiatives, including expected multi-fold revenue increase, push toward cash flow positivity, and the planned launch of three new product lines in 2025. The company aims to diversify its financial positioning and strengthen its balance sheet through measured cryptocurrency investments. Coinbase, as the largest U.S. cryptocurrency exchange, will provide institutional-grade custody services to support Worksport's entry into the cryptocurrency space.
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