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Visual22 Oct 2025
Epiroc's cash spent on M&A
Worksport (WKSP) investor relations material
Worksport Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary13 Aug, 2025
Executive summary
Achieved record Q2 2025 revenue of $4.10M, up 114% year-over-year and 83% sequentially, driven by flagship product adoption, AL4 launch, and e-commerce strength, with three consecutive monthly sales records.
Gross profit rose 173% to $1.08M, with gross margin expanding to 26.4%, reflecting operational efficiencies and favorable sales mix.
Operating loss improved 15% quarter-over-quarter to $(3.62)M, and net loss narrowed to $(3.73)M, showing improved cost discipline and higher revenue leverage.
Dealer network expanded rapidly, adding over 450 new accounts YTD and two new national distributors, supporting over $21.5M in potential annual revenue.
Innovation pipeline advanced, with HD3, SOLIS, and COR products on track for launches and AetherLux heat pump technology progressing toward commercialization.
Financial highlights
Net sales: $4.10M in Q2 2025, up from $1.92M in Q2 2024 and $2.24M in Q1 2025.
Gross margin: 26.4% in Q2 2025, up from 17.7% in Q1 and 15.4% in Q2 2024.
Operating expenses: $4.70M in Q2 2025, flat sequentially, with sales/marketing at $1.31M and G&A at $2.45M.
Net loss for Q2 2025: $(3.73)M, improved from $(4.01)M in Q2 2024.
Cash and equivalents: $1.39M at quarter end, with $4.8M–$4.76M available on credit facility.
Inventory: $5.88M, mostly raw materials, supporting ongoing demand.
Long-term debt reduced to $2.09M from $4.78M at 2024 year-end.
Outlook and guidance
Reaffirmed 2025 gross revenue target of at least $20M, with upside from new product launches (HD3, SOLIS, COR) and expanded distribution.
Gross margin expected to reach or exceed 30% by year-end 2025.
Targeting operational cash flow breakeven by late Q4 2025 or early Q1 2026.
Projected $2M–$3M in revenue from initial COR and SOLIS batches; AetherLux expected to impact 2026 results.
Access to $6M–$6.1M in liquidity as of June 30, 2025.
Detail Worksport's strategy to offset tariff inflation.
Elaborate on AetherLux's potential impact on 2026.
What factors drive the projected gross margin increase?
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Frequently asked questions
Worksport Ltd. is a U.S.-based company specializing in the design, development, and manufacture of automotive accessories, particularly tonneau covers for light trucks. The company is also involved in creating clean energy solutions, such as solar integrations and hydrogen-based energy technologies. Worksport's products are aimed at both the consumer market and business-to-business customers, with notable partnerships in the automotive industry. The company is headquartered in West Seneca, New York, and its shares are listed on the NASDAQ.
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