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Complete financial analysis of Worksport Ltd. (WKSP) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Worksport Ltd., a leading company in the Auto – Parts industry within the Consumer Cyclical sector.
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Worksport Ltd. (WKSP)
About Worksport Ltd.
Worksport Ltd., through its subsidiary, designs, manufactures, and distributes truck tonneau covers in Canada and the United States. The company offers soft cover (SC) and tough cover (TC) tonneau covers, including SC3, a tri-fold cover that seals around the truck bed with a rubber gasket designed to protect cargo from moisture and debris; SC3pro that allows the operator to open the cover by pulling a release cable; and TC3, a thick aluminum tri-cover panel with a honey-comb core coated in a durable black scratch-resistant powder coating. It is also developing TerraVis, a solar cover tonneau cover that gives rechargeable portable power to pickup truck owners. The company distributes its products through wholesalers and online retail channels. It serves private labels and original equipment manufacturers. Worksport Ltd. has a collaboration agreement with Greatcell Energy Pty Ltd. The company was formerly known as Franchise Holdings International, Inc. and changed its name to Worksport Ltd. in May 2020. Worksport Ltd. is based in Vaughan, Canada.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1.53M | 116.50K | 303.75K | 346.14K | 1.93M | 481.52K | 408.70K | 361.12K | 651.67K | 593.00K | 465.81K | 278.82K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cost of Revenue | 1.29M | 56.97K | 350.70K | 299.00K | 1.69M | 384.91K | 231.77K | 334.06K | 532.58K | 435.40K | 19.10K | 159.85K | 11.91K | 13.56K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 240.51K | 59.54K | -46.95K | 47.15K | 238.55K | 96.61K | 176.93K | 27.06K | 119.09K | 157.60K | 446.71K | 118.97K | -11.91K | -13.56K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit Ratio | 15.72% | 51.10% | -15.46% | 13.62% | 12.38% | 20.06% | 43.29% | 7.49% | 18.27% | 26.58% | 95.90% | 42.67% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 47.35K | 4.93K | 659.00 | 2.04K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 13.50M | 10.40M | 6.12M | 881.58K | 809.69K | 1.13M | 1.95M | 319.61K | 3.28M | 531.30K | 19.10K | 22.55K | 11.91K | 13.56K | 27.78K | 13.32K | 1.62K | 1.62K | 0.00 | 0.00 | 10.72K | 26.33K |
| Selling & Marketing | 1.48M | 2.45M | 1.39M | 148.01K | 50.16K | 90.57K | 3.72K | 62.01K | 203.85K | 88.47K | 85.27K | 49.96K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 14.98M | 12.84M | 7.51M | 1.03M | 859.85K | 1.22M | 1.95M | 381.62K | 3.48M | 619.77K | 19.10K | 22.55K | 11.91K | 13.56K | 27.78K | 13.32K | 1.62K | 1.62K | 1.62K | 1.47K | 10.72K | 26.33K |
| Other Expenses | -2.69K | 213.38K | 0.00 | 261.12K | 0.00 | 0.00 | 0.00 | 0.00 | -13.00K | 286.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Operating Expenses | 14.98M | 12.84M | 7.51M | 1.03M | 859.85K | 1.22M | 1.95M | 381.62K | 3.54M | 624.99K | 19.10K | 22.55K | 11.91K | 13.56K | 27.78K | 13.32K | 1.62K | 1.62K | 1.62K | 1.47K | 10.72K | 26.33K |
| Cost & Expenses | 16.27M | 12.90M | 7.86M | 1.33M | 2.55M | 1.61M | 2.18M | 715.68K | 4.07M | 1.06M | 19.10K | 22.55K | 11.91K | 13.56K | 27.78K | 13.32K | 1.62K | 1.62K | 1.62K | 1.47K | 10.72K | 26.33K |
| Interest Income | 239.35K | 212.29K | 3.69K | 386.25K | 71.96K | 0.00 | 0.00 | 0.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Expense | 616.21K | 488.70K | 294.92K | 386.25K | 71.96K | 55.55K | 118.91K | 123.86K | 10.85K | 3.74K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 30.53K | 30.53K | 30.53K | 30.53K | 30.53K | 30.53K | 33.77K |
| Depreciation & Amortization | 1.11M | 486.58K | 211.74K | 26.96K | 11.44K | 1.52K | 1.29K | 998.00 | 882.00 | 129.00 | 209.00 | 209.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -13.20M | -11.56M | -7.39M | -774.41K | -275.64K | -1.71M | -3.23M | -933.34K | -3.46M | -467.10K | -19.10K | -22.55K | -11.91K | -13.56K | 360.32K | -13.32K | -1.62K | -1.62K | -1.62K | -1.47K | -10.72K | -26.33K |
| EBITDA Ratio | -863.15% | -10,190.32% | -2,417.16% | -276.04% | -31.66% | -233.78% | -446.73% | -119.51% | -526.02% | -78.77% | -4.10% | -8.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Operating Income | -14.74M | -12.78M | -7.56M | -982.44K | -621.31K | -1.21M | -1.78M | -362.22K | -3.42M | -467.39K | -19.10K | -22.55K | -11.91K | -13.56K | -27.78K | -13.32K | -1.62K | -1.62K | -1.62K | -1.47K | -10.72K | -26.33K |
| Operating Income Ratio | -963.41% | -10,973.35% | -2,489.46% | -283.82% | -32.25% | -251.52% | -435.65% | -100.30% | -524.19% | -78.82% | -4.10% | -8.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Total Other Income/Expenses | -192.30K | 249.76K | -335.35K | -205.18K | 178.82K | -551.91K | -1.62M | -774.00K | -61.95K | -11.96K | 0.00 | 7.26K | 11.91K | 0.00 | 388.10K | -30.53K | -30.53K | -30.53K | -30.53K | -30.53K | -30.53K | -33.77K |
| Income Before Tax | -14.93M | -12.53M | -7.90M | -1.19M | -414.61K | -1.76M | -3.40M | -1.14M | -3.49M | -479.34K | -19.10K | -22.55K | -11.91K | -13.56K | 360.32K | -43.84K | -32.15K | -32.15K | -32.15K | -32.00K | -41.25K | -60.10K |
| Income Before Tax Ratio | -975.98% | -10,758.97% | -2,599.86% | -343.10% | -21.52% | -366.14% | -832.66% | -314.64% | -535.21% | -80.83% | -4.10% | -8.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Income Tax Expense | 0.00 | -312.79K | 294.92K | 386.25K | 71.96K | 580.25K | 1.46M | 579.78K | 48.13K | 8.38K | 1.93K | 1.74K | 0.00 | 0.00 | -388.10K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income | -14.93M | -12.22M | -8.19M | -1.57M | -486.57K | -1.76M | -3.40M | -1.14M | -3.49M | -479.34K | -19.10K | -22.55K | -11.91K | -13.56K | 360.32K | -43.84K | -32.15K | -32.15K | -32.15K | -32.00K | -41.25K | -60.10K |
| Net Income Ratio | -975.98% | -10,490.48% | -2,696.96% | -454.69% | -25.26% | -366.14% | -832.66% | -314.64% | -535.21% | -80.83% | -4.10% | -8.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| EPS | -0.84 | -0.72 | -0.71 | -0.58 | -0.26 | -1.58 | -3.34 | -2.03 | -103.45 | -20.25 | -0.81 | -0.95 | -0.50 | -0.57 | 15.22 | -1.85 | -1.36 | -1.36 | -1.36 | -1.35 | -4.00 | -2.54 |
| EPS Diluted | -0.84 | -0.72 | -0.71 | -0.58 | -0.26 | -1.58 | -3.33 | -2.03 | -103.45 | -20.25 | -0.81 | -0.95 | -0.50 | -0.57 | 15.22 | -1.85 | -1.36 | -1.36 | -1.36 | -1.35 | -4.00 | -2.54 |
| Weighted Avg Shares Out | 17.69M | 17.08M | 11.50M | 2.73M | 1.84M | 1.12M | 1.02M | 560.58K | 33.72K | 23.67K | 23.67K | 23.67K | 23.67K | 23.67K | 23.67K | 23.67K | 23.67K | 23.67K | 23.67K | 23.67K | 10.31K | 23.67K |
| Weighted Avg Shares Out (Dil) | 17.69M | 17.08M | 11.50M | 2.73M | 1.84M | 1.12M | 1.02M | 560.58K | 33.72K | 23.67K | 23.67K | 23.67K | 23.67K | 23.67K | 23.67K | 23.67K | 23.67K | 23.67K | 23.67K | 23.67K | 10.31K | 23.67K |
Worksport ($WKSP) To Showcase Upcoming Innovations Live on FOX & Friends National TV
Worksport's AL4 Premium Cover, SOLIS, and COR Systems Scheduled to Take Center Stage in Front of an Audience Projected to Exceed One Million Live Viewers This Weekend
Worksport (WKSP) Sees 51% B2C and 60% B2B Sales Growth in November, Boosting Margins, and Accelerating Brand Expansion
Year-End Momentum and 3 Upcoming Products Position Worksport for a Strong 2025 West Seneca, New York--(Newsfile Corp. - December 6, 2024) - Worksport Ltd. (NASDAQ: WKSP) ("Worksport" or the "Company"), a U.S.-based manufacturer and innovator of hybrid and clean energy...
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Company to Showcase at Premier Investor Event Among Industry Leaders Like Walmart, Yum! Brands, and SharkNinja West Seneca, New York, Nov. 27, 2024 (GLOBE NEWSWIRE) -- Worksport Ltd.
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Worksport Increases Production Capacity to Meet Growing Sales Demand
Company Aims for 100% Growth in Monthly Online Sales in the Near-Term; AL4 Tonneau Cover Launch Set for December West Seneca, New York--(Newsfile Corp. - November 22, 2024) - Worksport Ltd. (NASDAQ: WKSP) ("Worksport" or the "Company"), a U.S.-based manufacturer...
Worksport Increases Production Capacity to Meet Growing Sales Demand
Company Aims for 100% Growth in Monthly Online Sales in the Near-Term; AL4 Tonneau Cover Launch Set for December
Worksport Ltd. Retains Digital BD to Investigate Short Selling Activity; CEO Reaffirms Confidence with Personal Share Purchase at 44% Premium to Market
Company Formally Addresses Unusual Trading Activity Amid Strong Growth Prospects and Upcoming Product Releases West Seneca, New York--(Newsfile Corp. - November 21, 2024) - Worksport Ltd. (NASDAQ: WKSP) ("Worksport" or the "Company"), a U.S.-based manufacturer and innovator of hybrid and...
Worksport Ltd. (WKSP) Q3 2024 Earnings Call Transcript
Worksport Ltd. (NASDAQ:WKSP ) Q3 2024 Earnings Conference Call November 13, 2024 4:30 PM ET Company Participants Steven Rossi – Founder and Chief Executive Officer Michael Johnston – Chief Financial Officer Steven Obadiah – Head-Investor Relations Faran Ali – Business...
Worksport ($WKSP) Reports Significant 581% YoY Revenue Growth in Q3 2024, Eyes Record 2025
Company Announces Consecutive Surge in Quarterly Revenues; Provides Positive Outlook for Fiscal Year 2025; Ongoing Expansion and New Product Lines Fuel Momentum
Worksport ($WKSP) Reports Significant 581% YoY Revenue Growth in Q3 2024, Eyes Record 2025
Company Announces Consecutive Surge in Quarterly Revenues; Provides Positive Outlook for Fiscal Year 2025; Ongoing Expansion and New Product Lines Fuel Momentum West Seneca, New York--(Newsfile Corp. - November 13, 2024) - Worksport Ltd. (NASDAQ: WKSP) ("Worksport" or the "Company"),...
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