Worksport (WKSP) Reports 30% Dealer Network Growth; Debuts AL4 Premium Tonneau Cover on E-Commerce Platform
Worksport (NASDAQ: WKSP) has announced two significant sales milestones in early 2025. The company's dealer network has expanded by 30%, adding 24 new dealer locations. Additionally, their new flagship AL4 Premium Tonneau Cover is now available for purchase on worksport.com.
The company has shown substantial growth, increasing sales from $1.5M in 2023 to a run rate of approximately $1MM per month in 2024. Management expects the AL4 to become their best-selling tonneau cover, driving sales and margins for 2025. The company plans to have 5 AL4 models available by February 2025 end, with new models being added monthly.
Worksport is also preparing to launch additional products later in 2025, including the SOLIS solar tonneau cover and the COR portable nano-grid system, as part of their clean-tech solutions portfolio.
Worksport (NASDAQ: WKSP) ha annunciato due importanti traguardi di vendita all'inizio del 2025. La rete di concessionari dell'azienda è cresciuta del 30%, aggiungendo 24 nuove sedi. Inoltre, il loro nuovo AL4 Premium Tonneau Cover è ora disponibile per l'acquisto su worksport.com.
L'azienda ha mostrato una crescita sostanziale, aumentando le vendite da 1,5 milioni di dollari nel 2023 a un tasso di circa 1 milione di dollari al mese nel 2024. La direzione si aspetta che l'AL4 diventi il loro tonneau cover più venduto, contribuendo a vendite e margini per il 2025. L'azienda prevede di avere 5 modelli AL4 disponibili entro la fine di febbraio 2025, con nuovi modelli aggiunti mensilmente.
Worksport si sta anche preparando a lanciare ulteriori prodotti nel 2025, tra cui il copertura solare SOLIS e il sistema nano-grid portatile COR, come parte del loro portafoglio di soluzioni clean-tech.
Worksport (NASDAQ: WKSP) ha anunciado dos hitos de ventas significativos a principios de 2025. La red de concesionarios de la empresa ha crecido en un 30%, añadiendo 24 nuevas ubicaciones de concesionarios. Además, su nuevo AL4 Premium Tonneau Cover ya está disponible para su compra en worksport.com.
La empresa ha mostrado un crecimiento sustancial, aumentando las ventas de $1.5M en 2023 a una tasa de aproximadamente $1MM por mes en 2024. La dirección espera que el AL4 se convierta en su cubierta de tonel más vendida, impulsando las ventas y márgenes para 2025. La empresa planea tener 5 modelos AL4 disponibles para finales de febrero de 2025, con nuevos modelos añadidos mensualmente.
Worksport también se está preparando para lanzar productos adicionales más adelante en 2025, incluyendo la cubierta solar SOLIS y el sistema nano-grid portátil COR, como parte de su cartera de soluciones de tecnología limpia.
Worksport (NASDAQ: WKSP)는 2025년 초에 두 가지 중요한 판매 이정표를 발표했습니다. 회사의 딜러 네트워크는 30% 증가하여 24개의 새로운 딜러 위치를 추가했습니다. 또한, 그들의 새로운 플래그십 AL4 프리미엄 토노 커버가 worksport.com에서 구매할 수 있게 되었습니다.
회사는 상당한 성장을 보여주었으며, 2023년 $1.5M에서 2024년 월 약 $1MM의 판매 속도로 증가했습니다. 경영진은 AL4가 2025년 판매 및 마진을 이끌어내는 베스트셀러 토노 커버가 될 것으로 예상하고 있습니다. 회사는 2025년 2월 말까지 5개의 AL4 모델을 제공할 계획이며, 매달 새로운 모델을 추가할 예정입니다.
Worksport는 또한 2025년 후반에 SOLIS 태양광 토노 커버와 COR 휴대용 나노 그리드 시스템을 포함한 추가 제품을 출시할 준비를 하고 있습니다. 이는 그들의 클린 테크 솔루션 포트폴리오의 일환입니다.
Worksport (NASDAQ: WKSP) a annoncé deux étapes importantes de ventes au début de 2025. Le réseau de concessionnaires de l'entreprise a augmenté de 30%, ajoutant 24 nouveaux points de vente. De plus, leur nouveau AL4 Premium Tonneau Cover est désormais disponible à l'achat sur worksport.com.
L'entreprise a montré une croissance substantielle, augmentant ses ventes de 1,5 million de dollars en 2023 à un taux d'environ 1 million de dollars par mois en 2024. La direction s'attend à ce que l'AL4 devienne leur couverture de tonneau la plus vendue, stimulant les ventes et les marges pour 2025. L'entreprise prévoit d'avoir 5 modèles AL4 disponibles d'ici fin février 2025, avec de nouveaux modèles ajoutés chaque mois.
Worksport se prépare également à lancer d'autres produits plus tard en 2025, y compris la couverture de tonneau solaire SOLIS et le système nano-grille portable COR, dans le cadre de son portefeuille de solutions technologiques propres.
Worksport (NASDAQ: WKSP) hat zu Beginn des Jahres 2025 zwei bedeutende Verkaufsmeilensteine bekannt gegeben. Das Händlernetz des Unternehmens ist um 30% gewachsen und hat 24 neue Händlerstandorte hinzugefügt. Darüber hinaus ist ihr neues Flaggschiff AL4 Premium Tonneau Cover jetzt auf worksport.com erhältlich.
Das Unternehmen hat ein erhebliches Wachstum gezeigt und die Verkäufe von 1,5 Millionen US-Dollar im Jahr 2023 auf eine Laufzeit von etwa 1 Million US-Dollar pro Monat im Jahr 2024 gesteigert. Das Management erwartet, dass das AL4 ihre meistverkaufte Tonneau-Abdeckung wird und die Verkäufe und Margen für 2025 antreibt. Das Unternehmen plant, bis Ende Februar 2025 fünf AL4-Modelle anzubieten, wobei monatlich neue Modelle hinzugefügt werden.
Worksport bereitet sich auch darauf vor, später im Jahr 2025 weitere Produkte einzuführen, darunter die SOLIS Solar-Tonneau-Abdeckung und das COR tragbare Nano-Netzsystem, als Teil ihres Portfolios für saubere Technologien.
- 30% dealer network expansion with 24 new locations in early 2025
- Sales growth from $1.5M (2023) to ~$1M monthly run rate (2024)
- Launch of new AL4 Premium Tonneau Cover on direct-to-consumer platform
- Planned expansion of AL4 model lineup with monthly additions
- None.
Insights
Worksport's announcement reveals significant operational momentum that could translate to meaningful financial impact for this microcap company. The 30% dealer network expansion (adding 24 locations) represents accelerated distribution capability that should provide immediate revenue leverage, particularly as new products roll out.
The company's revenue trajectory is particularly noteworthy - growing from
The AL4 Premium Tonneau Cover launch on their direct-to-consumer channel creates a dual revenue stream that could enhance margins compared to dealer-only distribution. D2C channels typically deliver
With a market cap of just
Key risks include production scaling challenges, working capital constraints, and execution risk in bringing innovative products to market. Investors should monitor quarterly results for evidence that dealer expansion is translating to sustained revenue growth and improving gross margins.
Company Adds 24 New Dealer Locations in Early 2025, Initiates Flagship AL4 Cover Availability at Worksport.com
West Seneca, New York, Feb. 26, 2025 (GLOBE NEWSWIRE) -- 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, is pleased to announce two new sales milestones. The Company’s dealer network has expanded by
AL4 Tonneau Cover Now Live Online
The AL4, Worksport’s newly introduced flagship tonneau cover, combines premium materials and design features to offer superior durability, streamlined installation, and user-friendly functionality (see Figure 1 below). Through the Company’s direct-to-consumer (D2C) sales platform, customers can immediately place orders, track shipments, and take advantage of Worksport’s American customer support team. Worksport expects 5 available models by the end of February 2025 and expects to add new models to the AL4 lineup every month.
While Worksport has increased sales from
Steven Rossi, CEO of Worksport, commented: “We are excited to bring the AL4 cover directly to consumers through our e-commerce website, especially after the positive reception we’ve seen from distributors and our growing dealer network. This marks a significant step in Worksport’s evolution, as we continue to scale production to meet growing demand. We believe the AL4’s success will pave the way for future product launches, including our forthcoming clean-tech solutions – the SOLIS solar tonneau cover and the COR portable nano-grid system.”
Alignment with Future Growth
By offering the AL4 cover on its e-commerce store, Worksport.com, the Company continues to bolster its direct-to-consumer presence, complementing its expanding distribution network, which is expected to maintain momentum in the coming months. This move also lays the groundwork for upcoming releases, including the SOLIS solar tonneau cover and the COR mobile power system, planned for later this year. Management believes these innovations, combined with the AL4’s anticipated success, will drive revenue growth and strengthen shareholder value in the months ahead.
Figure 1. Worksport AL4 Cover- Features
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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Please follow the Company’s social media accounts on X (previously Twitter), Facebook, LinkedIn, YouTube, and Instagram (collectively, the “Accounts”), the links of which are links to external third-party websites, as well as sign up for the Company’s newsletters at investors.worksport.com. The Company does not endorse, ensure the accuracy of, or accept any responsibility for any content on these third-party websites other than content published by the Company.
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Investors and others should note that the Company announces material financial information to our investors using our investor relations website, press releases, Securities and Exchange Commission (“SEC”) filings, and public conference calls and webcasts. The Company also uses social media to announce Company news and other information. The Company encourages investors, the media, and others to review the information the Company publishes on social media.
The Company does not selectively disclose material non-public information on social media. If there is any significant financial information, the Company will release it broadly to the public through a press release or SEC filing prior to publishing it on social media.
For additional information, please contact:
Investor Relations, Worksport Ltd. T: 1 (888) 554-8789 -128 W: investors.worksport.com W: www.worksport.com E: investors@worksport.com
Forward-Looking Statements
The information contained herein may contain “forward‐looking statements.” Forward‐looking statements reflect the current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “scheduled,” “expect,” “future,” “intend,” “plan,” “project,” “envisioned,” “should," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. These statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) supply chain delays; (ii) acceptance of our products by consumers; (iii) delays in or nonacceptance by third parties to sell our products; and (iv) competition from other producers of similar products. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the SEC, including, without limitation, our latest Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at www.sec.gov. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company’s actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. The forward-looking statements made in this press release are made only as of the date of this press release, and the Company undertakes no obligation to update them to reflect subsequent events or circumstances.
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FAQ
What is Worksport's (WKSP) current monthly revenue run rate in 2024?
How many new dealer locations did Worksport (WKSP) add in early 2025?
When will Worksport (WKSP) release the SOLIS solar tonneau cover and COR system?
How many AL4 tonneau cover models will Worksport (WKSP) offer by February 2025?
