secwatch.observer — SEC 8-K summary
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Issuer:     Worksport Ltd (WKSP)
CIK:        0001096275
Form:       8-K
Filed at:   2025-06-23T23:59:59+00:00
Accession:  0001641172-25-016004
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Worksport reports May revenue $1.28M, 2nd straight record; gross margin up 25% from Q1
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- May 2025 revenue $1.28M, second consecutive record month; April+May revenue surpasses entire Q1 2025.
- Gross margins improved 25% over Q1 2025, approaching 23%; management projects ~30% by year-end.
- Dealer network expanded from 94 in Q4 2024 to over 550, including two national distributors.
- 2025 revenue projected ~$20M, up from $8.5M in 2024; cash flow positivity expected by year-end.
- SOLIS solar cover and COR nano-grid system launching fall 2025, targeting clean energy markets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1096275/000164117225016004/0001641172-25-016004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1096275/000164117225016004/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-016004

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