Worksport Ltd. reports $1.22 million in April sales with the AL4 tonneau cover driving significant growth and dealer adoption.
Quiver AI Summary
Worksport Ltd. has reported impressive sales performance for April 2025, totaling approximately $1.22 million, with the newly launched AL4 tonneau cover representing 40% of these sales. The rollout of the AL4 is nearing completion, with 80% of its planned models available, and the company expects continued growth as dealer interest picks up. CEO Steven Rossi highlighted the AL4's early success, attributed to its durability and competitive pricing, distinguishing it from overseas alternatives. Worksport anticipates a significant revenue boost in Q2 driven by ongoing AL4 sales, expanding dealer relationships, and strong e-commerce performance. Future product innovations, including solar-integrated solutions, promise further growth potential, positioning the company for improved margins and enhanced shareholder value.
Potential Positives
- AL4 tonneau cover accounted for approximately 40% of total product sales within weeks of its launch, indicating strong market demand.
- Record-high sales of about $1.22 million in April 2025 demonstrate significant revenue growth for the company.
- Successful rollout of 80% of the AL4 product line suggests robust product acceptance and a growing customer base.
- Management anticipates notable revenue growth in Q2, Q3, and Q4, bolstered by a strong dealer adoption and emerging clean-tech product pipeline.
Potential Negatives
- Despite the promising sales figures, the press release highlights several risks, including potential supply chain delays and competition from other producers, which could impact future performance.
- The company warns that acceptance of their products by consumers and the potential for third-party delays in selling their products may hinder growth, indicating vulnerabilities in their market strategy.
- The forward-looking statements portion of the release underscores uncertainty in projecting future performance, suggesting that actual results may differ materially from expectations communicated in the press release.
FAQ
What sales milestone did Worksport achieve with the AL4 tonneau cover?
Worksport's AL4 tonneau cover accounted for about 40% of total product sales in April 2025.
How many AL4 models are planned for rollout?
There are 25 planned models for the AL4 product line, with 20 models already successfully rolled out.
What factors are driving Worksport's sales growth?
Sales growth is driven by the AL4's performance, dealer adoption, and strong demand for premium, American-made tonneau covers.
What future products is Worksport planning to introduce?
Worksport plans to launch the SOLIS solar-integrated tonneau cover and the COR portable power system later in 2025.
How is Worksport addressing clean energy trends?
Worksport is capitalizing on clean energy trends with solar solutions, mobile energy storage systems, and clean heating technologies.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$WKSP Hedge Fund Activity
We have seen 2 institutional investors add shares of $WKSP stock to their portfolio, and 22 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ARMISTICE CAPITAL, LLC added 360,501 shares (+inf%) to their portfolio in Q1 2025, for an estimated $1,149,998
- CITADEL ADVISORS LLC removed 55,576 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $177,287
- RENAISSANCE TECHNOLOGIES LLC removed 43,170 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $137,712
- GEODE CAPITAL MANAGEMENT, LLC removed 27,342 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $87,220
- TWO SIGMA INVESTMENTS, LP removed 15,790 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $50,370
- HRT FINANCIAL LP removed 13,368 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $42,643
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 12,242 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $39,051
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$WKSP Analyst Ratings
Wall Street analysts have issued reports on $WKSP in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- H.C. Wainwright issued a "Buy" rating on 03/28/2025
- Alliance Global Partners issued a "Buy" rating on 03/18/2025
To track analyst ratings and price targets for $WKSP, check out Quiver Quantitative's $WKSP forecast page.
$WKSP Price Targets
Multiple analysts have issued price targets for $WKSP recently. We have seen 2 analysts offer price targets for $WKSP in the last 6 months, with a median target of $6.5.
Here are some recent targets:
- An analyst from H.C. Wainwright set a target price of $11.5 on 03/28/2025
Full Release
AL4 Drives 40% of Sales Within Weeks of Launch; Application Rollout Nearing Completion with Significant Growth Expected to Continue
West Seneca, New York, June 02, 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 excited to announce record-high April sales totaling about $1.22 million , with its premium AL4 tonneau cover accounting for approximately 40% of total product sales —a milestone achievement for a product that launched just weeks earlier .
As of the end of April 2025, 80% of the AL4 product line —20 out of 25 planned models—has been successfully rolled out. With only five additional models remaining to complete a full application lineup, Worksport anticipates the line’s growth trajectory to continue accelerating through Q2 and beyond . Dealer adoption of the AL4 has also shown encouraging momentum, following a classic snowball pattern where initial sample orders often lead to expanded, repeatable purchases from new dealer accounts.
“The AL4’s performance just weeks after availability exceeded our internal expectations of uptake, and validates the significant market demand for American-made, premium tonneau covers,” said Steven Rossi, Chief Executive Officer of Worksport Ltd. “Its success is already being felt in both our dealer and direct-to-consumer channels. We believe this is only the beginning, with more SKUs on the way and a strong dealer reorder cycle emerging.”
Management notes that the AL4’s rapid uptake is a key contributor to the Company’s strengthening revenue base , driven by its blend of durability, user-centric features, and competitive pricing. Manufactured in Worksport’s state-of-the-art U.S. facility using over 90% domestic content, the AL4 continues to differentiate itself from foreign-sourced alternatives that often lack the quality and margin profile desired by Worksport’s growing network of dealers.
Looking ahead, the Company expects Q2 revenue to notably surpass Q1 results , driven by the AL4 ramp-up, expanding B2B dealer relationships, and continued strength in e-commerce. Management also anticipates stronger revenue acceleration in Q3 and Q4 , as Worksport prepares to introduce its upcoming clean-tech innovations— the SOLIS solar-integrated tonneau cover and the COR portable power system —later in 2025.
Worksport believes the combination of a robust tonneau cover business and emerging clean-tech product pipeline positions the Company for substantial growth, expanding margins, and enhanced shareholder value in the quarters ahead.
For further information:
Investor Relations, Worksport Ltd.
T: 1 (888) 554-8789 -128
W:
investors.worksport.com
W:
www.worksport.com
E:
[email protected]
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 .
Connect with Worksport
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 .
Social Media Disclaimer
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. 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.
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 situation 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.