Company Achieves Consistent Growth With Four Straight Record Months; Gross Margin Expands 2,000+ Basis Points in Three Quarters; Production Hits Strongest Levels to Date
West Seneca, New York, Sept. 09, 2025 — Worksport Ltd. (NASDAQ: WKSP) (“Worksport” or the “Company”), a U.S.-based innovator and manufacturer of hybrid and clean energy solutions primarily for the light truck, overlanding, and global consumer goods markets, today reported that July 2025 revenue reached $1.71 million (unaudited), marking the fourth consecutive monthly sales record. In tandem, gross margin expanded to 31% in July, meaning Worksport achieved its year-end 30% margin goal one quarter early. The Company expects a continual upward trend in revenue and gross margin.
Operating Momentum and Financial Highlights
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Gross margin ramp:
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31% in July, up from 26% in Q2 2025, 18% in Q1 2025, and 11% in Q4 2024.
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Annualized run-rate (non-GAAP):
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July performance paces above $20M+. Expected to continue to grow every month.
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Production strength:
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July production reached the Company’s strongest levels to date, driven by scale and manufacturing efficiencies.
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Product catalysts:
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HD3 heavy-duty tonneau cover (expected Q3);
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SOLIS solar cover and COR modular power system (expected Q4).
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Proprietary ZeroFrost™ Heat Pump Technology (expected 2026)
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CEO Commentary
“Four consecutive record months and 31% gross margin underscore that our U.S. manufacturing model and American-made products are winning in the marketplace,” said Steven Rossi, Worksport CEO. “We believe our execution is positioning Worksport on a disciplined path toward sustained profitability and long-term shareholder value. With HD3, SOLIS, and COR on deck this year – and continued operational scale – we see a compelling setup for the back half of 2025.”
Growth Trajectory
At July’s run rate, Worksport is pacing above $20M+ in annualized sales (non-GAAP), in line with reaffirmed full-year guidance. Management continues to expect full-year 2025 revenue of at least $20 million with gross margins consistent at 30%+ by year-end. The Company anticipates the upcoming launches of its HD3 heavy-duty tonneau cover (Q3) and its flagship SOLIS solar tonneau and COR portable power system (Q4) will add further growth catalysts.