Worksport says market valuation ‘does not fully reflect’ business fundamentals

Worksport (WKSP) shared business commentary and outlines key catalyst events projected for 2025. The company said, “Worksport holds more than 170 registered and pending patents and trademarks, maintains $6M cash on hand, and carries minimal debt. The Company’s advanced U.S. manufacturing facility is designed to accommodate annual revenue streams of $100M to $300M, and total factory assets exceed current market capitalization. Management expects to approach cash flow positivity this year and believes the market has yet to fully recognize Worksport’s fundamental value. Worksport projects that 2025 revenues will be higher than the Company’s present valuation. The Company’s revenues rose from $1.5M in 2023 to $8.5M in 2024, surpassing $1M per month by the close of 2024. Worksport is focused on further acceleration, targeting $1M per week within the next 12 to 24 months. Early indicators include a 30% expansion in Worksport’s dealer network in the first two months of 2025. In tandem with rapid revenue growth, Worksport continues to see improvements in gross margins. Management anticipates further margin gains in the latter half of 2025, when the Company is targeting cash flow positivity. Investors can expect forthcoming announcements regarding significant new contracts, strategic partnerships, and developments in e-commerce…Management expects SOLIS and COR to contribute substantially to Worksport’s revenue as early as the third and fourth quarters of 2025. These new offerings, in combination with the Company’s existing tonneau cover business, are projected to support continued revenue gains and profitability into 2026 and beyond…Worksport’s leadership believes the Company is uniquely positioned for continued significant growth, driven by the upcoming market launch of the SOLIS and COR product lines, ongoing expansion of its dealer network, and a commitment to operational excellence. Supported by a broad patent portfolio, accelerating revenue, improving margins, and a strong financial footing, Worksport’s management is confident that the current market valuation does not fully reflect the Company’s intrinsic value. Worksport remains focused on delivering meaningful long-term returns and looks forward to reporting further progress and milestones over the course of a transformative 2025.”