---
schema_version: "secwatch.filing_event.v1"
accession: "0001062993-24-010384"
form_type: "8-K"
ticker: "WKSP"
cik: "0001096275"
company_name: "Worksport Ltd"
filed_at: "2024-05-16T23:59:59+00:00"
generated_at: "2026-06-01T19:03:57.305645+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Worksport Q1 revenue surges 1,506% to $512,637; to provide forward guidance May 23

## Summary
- Q1 revenue $512,637 vs $31,925 YoY; US sales up 1,766%.
- Gross margins based on private label sales; expects improvement in future quarters.
- Inventory of $6.5M after strategic $2.9M investment in higher-margin products.
- Received $2.8M grant from State of New York for production expansion.
- Clean energy product pipeline includes SOLIS solar tonneau and COR portable energy system.

## SEC filing metadata
- accession: 0001062993-24-010384
- form_type: 8-K
- ticker: WKSP
- cik: 0001096275
- company_name: Worksport Ltd
- filed_at: 2024-05-16T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1096275/000106299324010384/0001062993-24-010384-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1096275/000106299324010384/form8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001062993-24-010384
- JSON: https://secwatch.observer/filing/0001062993-24-010384.json
- Plain text: https://secwatch.observer/filing/0001062993-24-010384.txt

## Key facts
- Earnings Releases
  Worksport Ltd reported the first quarter of its fiscal year (Q1 FY 2024) ended March 31, 2024 results: revenue $512,637.
  - Period: the first quarter of its fiscal year (Q1 FY 2024) ended March 31, 2024
  - Revenue: $512,637
  - Result: reported results
  source text: 2024: Explosive Growth: Worksport Ltd. reported a staggering 1,506% increase in North American sales for Q1 2024 from Q1 2023, with revenues soaring from $31,925 in Q1 2023 to $512,637 in Q1 2024. US revenue alone experienced a remarkable 1,766% increase in Q1 2024 compared to Q1 2023. Worksport CEO, Steven Rossi said, "We are proud to see such encouraging early
  evidence_url: https://www.sec.gov/Archives/edgar/data/1096275/000106299324010384/0001062993-24-010384-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.