Worksport Revenue Soars In Q4, Stock Falls

(RTTNews) - Worksport Ltd. (WKSP), Tuesday announced the unaudited revenues of approximately $2.9 million for the fourth quarter, surpassing the last year's revenues of $839,000.

The fiscal year 2024 revenues were around $8.5 million, beating the company's estimated outlook of $6 to $8 million.

Similarly, the quarterly gross margins improved by 55 percent than the previous year, primarily due to the manufacturer's shift towards higher-value, branded product lines, and enhanced operations.

Looking ahead to 2025, Worksport expects over $20 million in tonneau cover sales.

Currently, Worksport's stock is falling 5.08 percent, to $0.78 on the Nasdaq.