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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 Announces Final Training and Validation of New U.S. Manufacturing Line. Production Expected to Start in Upcoming Weeks
West Seneca, New York, United States, July 11, 2023 (GLOBE NEWSWIRE) -- Worksport Ltd. (NASDAQ: WKSP; WKSPW) today announces the Company's significant progress in its operational developments, in particular, the initiation of final training and validation processes for their new...
Worksport Launches Storefronts On Amazon, eBay And Walmart Marketplace
Worksport Ltd (NASDAQ: WKSP) has launched its eCommerce storefronts on Amazon.com (NASDAQ: AMZN), eBay (NASDAQ: EBAY), and Walmart (NYSE: WMT) Marketplace. N.A. Williams Company will execute Worksport's marketing campaigns on each platform.
Worksport Participating in H.C. Wainwright 2022 Global Investment Conference, Hosted May 23 - 26, 2022
Mississauga, May 17, 2022 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP) (the “Company” or “Worksport”), seeking to capitalize on the growing shift of consumer mindsets towards clean energy with its proprietary solar and green hydrogen-based technologies, announced it will be...
Maxim Bullish On Worksport, Sees Huge Upside
Maxim analyst Tate Sullivan initiated coverage on Worksport Ltd (NASDAQ:WKSP) with a Buy rating and $8.00 price target, implying a 99% upside. The analyst is positive about the company selling new charging products for electric trucks, has started taking pre-orders for a new...
Worksport Registers ~20% Sales Decline In Q3
Worksport Ltd (NASDAQ: WKSP) reported a third-quarter FY21 sales decline of 19.8% year-on-year, to $0.093 million. The cost of sales declined 13% Y/Y.
Why Worksport Shares Are Moving Today
Worksport (NASDAQ: WKSP) shares are trading higher after the company announced a joint collaboration with Greatcell Solar Italy. Financial details associated with the collaboration were not disclosed.
Worksport Collaborates With Greatcell Solar Italy
Worksport Ltd (NASDAQ: WKSP) has entered into a collaboration with Greatcell Solar Italy. Greatcell, headquartered in Australia, creates low-cost, bespoke, renewable electricity transducers based on Perovskite Solar Cell technology that can compete against other forms of energy production in all lighting conditions.
Worksport Appoints Sengkee Ahn and Michael Timmons to Advisory Board
Mississauga – September 28, 2021 -- Worksport Ltd (Nasdaq-CM: WKSP; WKSPW) (the “Company”) has appointed Mr. Sengkee Ahn and Mr.
Worksport Makes the Impossible Possible: Green-Energy Microgrid Systems Power EV Trucking and Off-Grid Lifestyling
Image via Worksport On September 21, 2021, Worksport Ltd. (NASDAQ: WKSP) launches the first round of pre-orders where individual buyers and manufacturers can make a downpayment on the portable TerraVis™ solar power generation system.
BMW, XPENG and Worksport Switching Gears Forward
Photo by Markus Spiske on Unsplash The EV revolution is happening with governments and automakers going full speed ahead to combat carbon emissions with all-electric vehicles. Many players joining forces in the attempt to win the race with the power...
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