Worksport Surpasses Monthly Sales Record in April on Strong AL4 Performance

Rhea-AI Summary

Worksport (NASDAQ: WKSP) reported record-breaking April sales of $1.22 million, with its newly launched premium AL4 tonneau cover contributing 40% of total product sales. The company has successfully rolled out 80% (20 out of 25 models) of the AL4 product line, with the remaining five models expected to launch soon. The AL4, manufactured in Worksport's U.S. facility using over 90% domestic content, has shown strong dealer adoption and reorder patterns. Management expects Q2 revenue to exceed Q1, with further acceleration in Q3 and Q4 driven by the planned launch of SOLIS solar-integrated tonneau cover and COR portable power system. The company's focus on American-made premium products and emerging clean-tech innovations positions it for growth and improved margins.

Positive

• Record monthly sales of $1.22 million in April 2025
• AL4 tonneau cover contributes 40% of total sales within weeks of launch
• 80% of AL4 product line successfully rolled out (20 out of 25 models)
• Strong dealer adoption with emerging reorder patterns
• U.S. manufacturing with 90% domestic content enhancing quality and margins
• Management expects revenue growth acceleration in Q2, Q3, and Q4 2025
• Upcoming launch of SOLIS solar cover and COR power system to drive growth

Negative

• None.

Insights

Financial Analyst

Worksport's record April sales of $1.22M, driven by AL4 tonneau cover success, signal potential revenue acceleration as product rollout continues.

Worksport's April performance reveals a significant sales milestone at $1.22 million, with the recently launched AL4 tonneau cover already contributing 40% of total product revenue. This immediate market traction for a newly introduced product line demonstrates exceptional product-market fit and validates the company's premium positioning strategy.

The AL4 rollout has reached 80% completion (20 of 25 planned models), creating a clear pathway for continued revenue expansion as the remaining five models enter the market. The early dealer adoption pattern is particularly noteworthy – we're seeing the classic progression from sample orders to repeatable purchases, which typically indicates a sustainable sales cycle is forming.

Manufacturing the AL4 with over 90% domestic content in Worksport's U.S. facility serves dual purposes: it provides margin protection against lower-quality foreign alternatives while appealing to dealers seeking premium products with stronger profit potential. This domestic production strategy creates a competitive moat in an industry often challenged by import pressure.

Looking at the quarterly progression, management expects Q2 to outperform Q1, with more substantial acceleration in the second half of 2025 as their clean-tech innovations (SOLIS solar cover and COR power system) come to market. The combination of strong core tonneau cover business and higher-margin clean-tech products suggests a compelling revenue diversification strategy that could drive margin expansion over time.

AL4 Drives 40% of Sales Within Weeks of Launch; Application Rollout Nearing Completion with Significant Growth Expected to Continue

West Seneca, New York, June 02, 2025 (GLOBE NEWSWIRE) -- Worksport Ltd. (NASDAQ: WKSP) (“Worksport” or the “Company”), a U.S. based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, is excited to announce record-high April sales totaling about $1.22 million, with its premium AL4 tonneau cover accounting for approximately 40% of total product sales—a milestone achievement for a product that launched just weeks earlier.

As of the end of April 2025, 80% of the AL4 product line—20 out of 25 planned models—has been successfully rolled out. With only five additional models remaining to complete a full application lineup, Worksport anticipates the line’s growth trajectory to continue accelerating through Q2 and beyond. Dealer adoption of the AL4 has also shown encouraging momentum, following a classic snowball pattern where initial sample orders often lead to expanded, repeatable purchases from new dealer accounts.

“The AL4’s performance just weeks after availability exceeded our internal expectations of uptake, and validates the significant market demand for American-made, premium tonneau covers,” said Steven Rossi, Chief Executive Officer of Worksport Ltd. “Its success is already being felt in both our dealer and direct-to-consumer channels. We believe this is only the beginning, with more SKUs on the way and a strong dealer reorder cycle emerging.”

Management notes that the AL4’s rapid uptake is a key contributor to the Company’s strengthening revenue base, driven by its blend of durability, user-centric features, and competitive pricing. Manufactured in Worksport’s state-of-the-art U.S. facility using over 90% domestic content, the AL4 continues to differentiate itself from foreign-sourced alternatives that often lack the quality and margin profile desired by Worksport’s growing network of dealers.

Looking ahead, the Company expects Q2 revenue to notably surpass Q1 results, driven by the AL4 ramp-up, expanding B2B dealer relationships, and continued strength in e-commerce. Management also anticipates stronger revenue acceleration in Q3 and Q4, as Worksport prepares to introduce its upcoming clean-tech innovations—the SOLIS solar-integrated tonneau cover and the COR portable power system—later in 2025.

Worksport believes the combination of a robust tonneau cover business and emerging clean-tech product pipeline positions the Company for substantial growth, expanding margins, and enhanced shareholder value in the quarters ahead.

For further information:

Investor Relations, Worksport Ltd. T: 1 (888) 554-8789 -128
W: investors.worksport.com W: www.worksport.com E: investors@worksport.com

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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.

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FAQ

What were Worksport's (WKSP) April 2025 sales figures?

Worksport reported record-high April 2025 sales of $1.22 million, with the AL4 tonneau cover accounting for approximately 40% of total product sales.

How many AL4 tonneau cover models has Worksport (WKSP) launched?

Worksport has launched 20 out of 25 planned AL4 models, representing 80% of the complete product line.

What percentage of domestic content is used in Worksport's AL4 tonneau covers?

Worksport's AL4 tonneau covers are manufactured in their U.S. facility using over 90% domestic content.

What new products is Worksport (WKSP) planning to launch in 2025?

Worksport plans to launch the SOLIS solar-integrated tonneau cover and the COR portable power system later in 2025.

What are Worksport's revenue expectations for upcoming quarters?

Management expects Q2 revenue to surpass Q1 results, with stronger revenue acceleration anticipated in Q3 and Q4 2025.