secwatch.observer — SEC 8-K summary
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Issuer:     Worksport Ltd (WKSP)
CIK:        0001096275
Form:       8-K
Filed at:   2025-05-15T23:59:59+00:00
Accession:  0001641172-25-010829
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1096275/000164117225010829/0001641172-25-010829-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1096275/000164117225010829/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-010829

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer