Here are the 10-Q quarterly reports from Worksport, Ltd. Warrant (WKSPW) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow WKSPW and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full WKSPW filings page.
Worksport Ltd. reported accelerated sales growth while remaining unprofitable. For the three months ended June 30, 2025, net sales were $4.10 million, up about 114% year-over-year, and six-month sales were $6.34 million, up about 161%. Gross profit improved to $1.08 million for the quarter from $0.30 million a year earlier, reflecting better production efficiencies. Despite higher revenue, the company recorded a net loss of $3.73 million for the quarter and $8.19 million for six months, and an accumulated deficit of $72.7 million.
The balance sheet shows $1.39 million in cash at period end, working capital of $4.76 million, and available revolving credit of $4.76 million. Management completed a warrant inducement and exercises that generated approximately $6.7 million in gross proceeds and initiated a Regulation A offering (initial closing gross proceeds $160k to date). Operationally, the company expanded its dealer network to over 550 locations, secured ISO 9001 certification, rolled out 80% of its AL4 models, and plans a commercial launch of SOLIS & COR. The filing discloses a material uncertainty about the company’s ability to continue as a going concern.