Worksport Grows Dealer Network 64% in Q1 2025; March B2B Sales Increase 70% on U.S.-Made AL4 Demand
Worksport (NASDAQ: WKSP) reported significant growth in Q1 2025, with March B2B sales increasing nearly 70% from February, driven by strong demand for their US-made AL4 premium tonneau cover. The company's dealer network expanded 64% to 151 active dealers, up from 92 at the end of 2024, with 59 new dealers added in Q1.
The AL4 cover, manufactured with over 90% domestic content including American aluminum, has gained traction among brick-and-mortar dealers nationwide. The company plans to launch its SOLIS solar-integrated tonneau cover and COR modular portable energy system later in 2025, aiming to expand into sustainable power solutions.
Management projects to achieve cash-flow positivity through B2B growth, direct-to-consumer sales, and cost control measures. With an addressable market of 17,000 dealers nationwide, Worksport expects continued growth through strategic partnerships with distributors and purchasing groups.
Worksport (NASDAQ: WKSP) ha registrato una crescita significativa nel primo trimestre del 2025, con le vendite B2B di marzo in aumento di quasi il 70% rispetto a febbraio, grazie alla forte domanda per la loro copertura premium AL4, prodotta negli Stati Uniti. La rete di concessionari dell'azienda è cresciuta del 64%, arrivando a 151 concessionari attivi, rispetto ai 92 di fine 2024, con 59 nuovi concessionari aggiunti nel primo trimestre.
La copertura AL4, realizzata con oltre il 90% di componenti nazionali, inclusa l'alluminio americano, ha guadagnato terreno tra i concessionari tradizionali in tutto il paese. L'azienda prevede di lanciare entro il 2025 la copertura tonneau SOLIS con integrazione solare e il sistema modulare di energia portatile COR, con l'obiettivo di espandersi nelle soluzioni energetiche sostenibili.
La direzione prevede di raggiungere la positività del flusso di cassa attraverso la crescita B2B, le vendite dirette ai consumatori e il controllo dei costi. Con un mercato indirizzabile di 17.000 concessionari a livello nazionale, Worksport si aspetta una crescita continua grazie a partnership strategiche con distributori e gruppi di acquisto.
Worksport (NASDAQ: WKSP) reportó un crecimiento significativo en el primer trimestre de 2025, con las ventas B2B de marzo aumentando casi un 70% respecto a febrero, impulsadas por una fuerte demanda de su cubierta premium AL4 fabricada en EE. UU. La red de concesionarios de la empresa creció un 64% hasta 151 concesionarios activos, desde 92 a finales de 2024, con 59 nuevos concesionarios añadidos en el primer trimestre.
La cubierta AL4, fabricada con más del 90% de contenido nacional, incluyendo aluminio americano, ha ganado popularidad entre los concesionarios físicos a nivel nacional. La compañía planea lanzar en 2025 la cubierta tonneau SOLIS integrada con energía solar y el sistema modular portátil de energía COR, con el objetivo de expandirse en soluciones de energía sostenible.
La dirección proyecta alcanzar la rentabilidad del flujo de caja mediante el crecimiento B2B, ventas directas al consumidor y medidas de control de costos. Con un mercado direccionable de 17,000 concesionarios a nivel nacional, Worksport espera continuar creciendo gracias a alianzas estratégicas con distribuidores y grupos de compra.
Worksport (NASDAQ: WKSP)는 2025년 1분기에 큰 성장을 기록했으며, 3월 B2B 판매는 2월 대비 거의 70% 증가했는데, 이는 미국산 AL4 프리미엄 토노 커버에 대한 강한 수요 덕분입니다. 회사의 딜러 네트워크는 2024년 말 92개에서 151개의 활성 딜러로 64% 확장되었으며, 1분기에 59개의 신규 딜러가 추가되었습니다.
미국산 알루미늄을 포함해 90% 이상의 국내 부품으로 제조된 AL4 커버는 전국의 오프라인 딜러들 사이에서 인기를 얻고 있습니다. 회사는 2025년 후반에 태양광 통합 토노 커버인 SOLIS와 모듈형 휴대용 에너지 시스템 COR를 출시할 계획이며, 지속 가능한 에너지 솔루션으로 사업을 확장할 예정입니다.
경영진은 B2B 성장, 직판, 비용 통제 조치를 통해 현금 흐름 흑자를 달성할 것으로 예상하고 있습니다. 전국 17,000개의 딜러를 대상으로 하는 시장에서 Worksport는 유통업체 및 구매 그룹과의 전략적 파트너십을 통해 지속적인 성장을 기대하고 있습니다.
Worksport (NASDAQ : WKSP) a annoncé une croissance significative au premier trimestre 2025, avec des ventes B2B en mars en hausse de près de 70% par rapport à février, portée par une forte demande pour leur couverture tonneau premium AL4 fabriquée aux États-Unis. Le réseau de concessionnaires de l'entreprise s'est étendu de 64% pour atteindre 151 concessionnaires actifs, contre 92 fin 2024, avec 59 nouveaux concessionnaires ajoutés au premier trimestre.
La couverture AL4, fabriquée avec plus de 90% de composants nationaux, dont de l'aluminium américain, a gagné en popularité auprès des concessionnaires physiques à travers le pays. L'entreprise prévoit de lancer en 2025 la couverture tonneau SOLIS intégrant l'énergie solaire et le système modulaire d'énergie portable COR, visant à s'étendre aux solutions énergétiques durables.
La direction prévoit d'atteindre une trésorerie positive grâce à la croissance B2B, aux ventes directes aux consommateurs et aux mesures de contrôle des coûts. Avec un marché adressable de 17 000 concessionnaires à l'échelle nationale, Worksport s'attend à une croissance continue grâce à des partenariats stratégiques avec des distributeurs et des groupements d'achat.
Worksport (NASDAQ: WKSP) verzeichnete im ersten Quartal 2025 ein erhebliches Wachstum, wobei die B2B-Verkäufe im März im Vergleich zum Februar um fast 70% stiegen, angetrieben durch eine starke Nachfrage nach ihrer in den USA hergestellten AL4 Premium-Plane. Das Händlernetz des Unternehmens wuchs um 64% auf 151 aktive Händler, gegenüber 92 Ende 2024, mit 59 neuen Händlern im ersten Quartal.
Die AL4-Plane, die mit über 90% inländischen Bestandteilen einschließlich amerikanischem Aluminium gefertigt wird, hat bei stationären Händlern landesweit an Bedeutung gewonnen. Das Unternehmen plant, im Laufe des Jahres 2025 die SOLIS-Solar-integrierte Plane und das modulare tragbare Energiesystem COR auf den Markt zu bringen, um in nachhaltige Energielösungen zu expandieren.
Das Management rechnet damit, durch B2B-Wachstum, Direktvertrieb und Kosteneinsparungen eine positive Cashflow-Situation zu erreichen. Mit einem adressierbaren Markt von 17.000 Händlern landesweit erwartet Worksport weiteres Wachstum durch strategische Partnerschaften mit Distributoren und Einkaufsgemeinschaften.
- 70% month-over-month B2B sales growth in March 2025
- 64% increase in dealer network to 151 active dealers in Q1
- Addition of 59 new dealer accounts in Q1 2025
- Management projects achieving cash-flow positivity
- Large addressable market of 17,000 potential dealers nationwide
- None.
Insights
Worksport shows accelerating B2B growth with 64% dealer network expansion and 70% March sales increase, improving revenue and margins.
Worksport's Q1 2025 performance reveals a compelling business momentum story. The company has expanded its dealer network to 151 active dealers, representing a 64% increase from year-end 2024. What's particularly notable is the acceleration pattern - 24 new dealers in January/February combined, followed by 35 new dealers in March alone, suggesting increasing market traction.
This dealer expansion has translated directly to sales performance, with March B2B sales jumping 70% month-over-month from February. The CEO's explicit mention of both revenue growth and margin growth is significant - they're not just growing by discounting, but improving unit economics simultaneously.
The AL4 tonneau cover's domestic manufacturing appears to be resonating as a market differentiator. With over 17,000 addressable dealers nationwide, Worksport has penetrated less than 1% of its potential market, indicating substantial runway for their current growth trajectory.
While the company doesn't provide absolute revenue figures, the projected path to cash-flow positivity through B2B growth, direct-to-consumer sales, and cost discipline suggests a focused financial strategy. The planned launches of SOLIS and COR products later in 2025 represent potential new revenue streams that could further accelerate growth.
For a company with a
Three Consecutive Months of Dealer Growth and Strong AL4 Sales Momentum Highlight Accelerating Market Adoption of Worksport's US Made Products
West Seneca, New York--(Newsfile Corp. - April 22, 2025) - Worksport Ltd. (NASDAQ: WKSP) ("Worksport" or the "Company"), a U.S. based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, today announced strong first-quarter gains in its business-to-business (B2B) vertical, supported by accelerating demand for the AL4 premium tonneau cover. Proudly built in USA from more than 90 % domestic content-including high-grade American aluminum-the AL4 cover appears to be resonating with brick-and-mortar dealers nationwide that appreciate high-quality U.S.-made products.
Dealer Network and Recent Sales Highlights
- B2B Sales Growth: March 2025 B2B sales grew nearly
70% from February, underscoring strong market momentum and heightened interest in the AL4 cover.
- Dealer Network Growth: Worksport's U.S. network now totals 151 active dealers, a 64 % increase from 92 at year-end 2024.Worksport added 35 new dealer accounts in March, following 24 additions in January and February.
- Made-in-USA Advantage: By sourcing locally and manufacturing in the US, Worksport believes it mitigates tariff risks on its tonneau cover products, supports American jobs, and delivers superior product consistency.
Chief Executive Officer Steven Rossi stated: "It's exciting to see both revenue growth and margin growth this quarter. The AL4's success proves that manufacturing in the US-using American aluminum and American workers-can out-compete foreign products."
Supporting America's Small Businesses
Worksport's dealer partners are independent truck accessory retailers and installers- "Main Street" businesses that form the backbone of the U.S. economy. With over 17,000 addressable dealers nationwide, Worksport expects to see continued growth. It is expected that dealers will contribute to notable revenue growth in 2025.
Worksport will look to strategically expand further by partnering with distributors and purchasing groups who value American-made quality and prioritize dealer success. These partnerships would bring many new dealers to the Worksport network. The Company expects to provide additional updates in the near term. The Company's products are engineered to deliver healthy margins for dealers while offering exceptional performance and value to end users-making Worksport a win-win solution for both sides of the market.
Outlook and Strategic Initiatives for 2025
In the upcoming spring months, Worksport expects to provide investors with updates on several key initiatives. The Company highlights:
- Clean-Tech Pipeline: SOLIS solar-integrated tonneau cover, and COR modular portable energy system remain on track for launch later this year, positioning Worksport to capture additional revenue streams in sustainable power solutions.
- Operational Focus: Management is projected to drive cash-flow positivity through further B2B growth, direct-to-consumer sales at Worksport.com, and disciplined cost control.
Steven Rossi further comments: "Adding 59 new dealer accounts in three months underscores how strongly American dealers (brick-and-mortar stores) value a high-margin, U.S.-made alternative to low-quality imported covers. As we broaden our dealer base and prepare for the SOLIS and COR launches, we believe Worksport is uniquely positioned to deliver sustained growth and long-term value for shareholders."
Learn more, here: https://investors.worksport.com.
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About Worksport
Worksport Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions. Worksport has an active partnership with Hyundai for the SOLIS Solar cover. Additionally, Worksport's hard-folding cover, designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers including the electric vehicle (EV) sector. Worksport seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations with its proprietary solar solutions, mobile energy storage systems (ESS), and Cold-Climate Heat Pump (CCHP) technology. Terravis Energy's website is terravisenergy.com.
For more information, please visit investors.worksport.com.
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FAQ
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