Worksport Q1 revenue $2.24M (+337% YoY); gross margin 18% vs 7% YoY; FY25 rev guidance $20-25M

Worksport Ltd

2025-Q1 EPS reported -$1.05 revenue$2,240,005

Revenue $2.24M, up 337% from $512k in Q1 2024.
Gross margin 18%, improved from 7% in Q1 2024 and 11% in Q4 2024.
Net loss $4.46M ($1.05 loss per share), compared to $3.71M loss ($1.75 loss per share) in prior year.
Full-year 2025 revenue guidance of $20M to $25M, targeting cash flow breakeven by year-end.
Working capital $7.94M with $5.1M cash; core growth driven by new AL4 tonneau cover.

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