Worksport Officially Launches Nexus Tonneau Cover
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
0mins
Should l Buy WKSP?
Worksport announced the official commercial launch and commencement of sales for its highly anticipated Nexus Tonneau Cover. Following a production start on April 13, the Nexus cover is now available for purchase on the Company's B2C website and through its B2B distribution network. Early demand from established distributors with multi-million-dollar annual purchasing capacity-supports management's expectation that the Nexus platform can contribute millions in incremental revenue in 2026, while accelerating adoption across existing and new sales channels.
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Analyst Views on WKSP
Wall Street analysts forecast WKSP stock price to rise
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 1.150
Low
5.00
Averages
8.25
High
11.50
Current: 1.150
Low
5.00
Averages
8.25
High
11.50
About WKSP
Worksport Ltd., through its subsidiaries, designs, develops, and manufactures products for various markets, including automotive accessories, consumer electronics, and both residential and commercial heating, ventilation, and air conditioning system markets. The Company protects its products through an intellectual property portfolio with patents and trademarks relating to tonneau covers, solar integrated tonneau covers, portable power stations, NP (non-parasitic) hydrogen-based green energy systems, residential heating and cooling systems (heat pumps), and electric vehicle-charging stations. Its soft tonneau cover offering consists of vinyl wrapped tri- and quad-fold tonneau covers. The soft tonneau cover line includes The Worksport SC3, The Worksport SC3 PRO, The Worksport SC4, and The Worksport SC4 PRO. Its hard tonneau cover line includes The Worksport AL3 and The Worksport AL4. Its hard-folding cover, designed and manufactured in-house, is compatible with all major truck models.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Worksport CEO Steven Rossi Buys Shares, Signaling Confidence Amid Growth
- CEO Share Purchase: Worksport CEO Steven Rossi purchased 88,200 shares at $0.85 each, totaling approximately $75,000, demonstrating strong confidence in the company's future prospects amidst ongoing growth.
- Rapid Revenue Growth: The company anticipates revenue growth from approximately $1.5 million in 2023 to $16.1 million by 2025, with a target of $35 million to $42 million in 2026, reflecting robust market demand and expansion potential.
- Margin Improvement: Worksport's gross margins have improved from around 11% to 30%, with plans to reach 35% by 2026, significantly enhancing the company's profitability and financial health.
- Dealer Network Expansion: The dealer network has expanded to over 550 locations, with ongoing product launches, and the company expects to achieve positive cash flow by 2026 with quarterly revenues of $9 million to $11 million, further solidifying its market position.
See More
Worksport Ltd. Reports Significant Growth in FY 2025 Earnings
- Significant Sales Growth: Worksport's net sales for FY 2025 nearly doubled to $16.1 million, reflecting an 89.8% increase from 2024, indicating substantial progress in market expansion and product launches despite ongoing operational losses.
- Margin Improvement: Gross margins improved from 11% to 28% for FY 2025, with Q4 margins reaching 30.1%, demonstrating enhanced cost control and operational efficiency, which is expected to lay the groundwork for future profitability.
- Dealer Network Expansion: The company's dealer network expanded sixfold to over 550 locations in FY 2025, indicating a significant increase in market penetration that will help drive future sales growth and brand influence.
- 2026 Outlook: Management anticipates revenue between $35 million and $42 million for 2026, with a gross margin target of 35%, reflecting confidence in new product launches and market demand while emphasizing the strategic goal of achieving positive cash flow.
See More
Worksport (WKSP) Q4 2025 Earnings Call Transcript
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Worksport Releases 2026 Financial Guidance and Strategic Outlook
- Disappointing Earnings Report: Worksport reported a FY GAAP EPS of -$3.16, missing expectations by $2.02, while revenue of $16.1M, despite an impressive 89.9% year-over-year increase, fell short of projections by $20.75M, indicating challenges in profitability.
- 2026 Revenue Guidance: The company anticipates full-year 2026 revenue between $35 million and $42 million, which, while showing growth potential, requires significant improvement from current levels to achieve profitability.
- Dealer Network Expansion: Management aims to grow the dealer network to 1,500 locations by the end of 2026, a move expected to be a leading revenue driver, reflecting the company's proactive strategy in market penetration and sales channel development.
- Upcoming Product Launch: Worksport plans to launch a next-generation hard tonneau cover featuring patented capabilities in early Q2 2026, which could significantly enhance market competitiveness and drive future sales growth.
See More
WORKSPORT ANTICIPATES 2026 FULL-YEAR REVENUE TO RANGE FROM $35 MILLION TO $42 MILLION
- Revenue Expectations: Co expects full-year 2026 revenue to be between $35 million and $42 million.
See More
Worksport to Release 2025 Financial Results and Outlook
- Earnings Release Schedule: Worksport is set to announce its fourth quarter and full year financial results for 2025 on March 26, 2026, after market close, which is expected to provide a clearer view of the company's financial health and operational progress.
- Conference Call Details: Management will host a conference call at 4:30 PM ET on the same day to discuss financial performance and outlook, with anticipated updates on financial guidance and the strategic roadmap towards achieving cash-flow positive operations, thereby boosting investor confidence.
- Product Development and Strategy: During the call, management is expected to share updates on key strategic initiatives and product developments, indicating the company's ongoing innovation and adaptability in the clean energy solutions sector, aimed at enhancing market competitiveness.
- Investor Engagement Opportunity: Investors, analysts, and media are invited to register in advance for the live webcast, gaining insights into the company's operational progress and financial outlook, which further promotes interaction and transparency with stakeholders.
See More
Worksport CEO Steven Rossi Buys Shares, Signaling Confidence Amid Growth
- CEO Share Purchase: Worksport CEO Steven Rossi purchased 88,200 shares at $0.85 each, totaling approximately $75,000, demonstrating strong confidence in the company's future prospects amidst ongoing growth.
- Rapid Revenue Growth: The company anticipates revenue growth from approximately $1.5 million in 2023 to $16.1 million by 2025, with a target of $35 million to $42 million in 2026, reflecting robust market demand and expansion potential.
- Margin Improvement: Worksport's gross margins have improved from around 11% to 30%, with plans to reach 35% by 2026, significantly enhancing the company's profitability and financial health.
- Dealer Network Expansion: The dealer network has expanded to over 550 locations, with ongoing product launches, and the company expects to achieve positive cash flow by 2026 with quarterly revenues of $9 million to $11 million, further solidifying its market position.
See More
Worksport Ltd. Reports Significant Growth in FY 2025 Earnings
- Significant Sales Growth: Worksport's net sales for FY 2025 nearly doubled to $16.1 million, reflecting an 89.8% increase from 2024, indicating substantial progress in market expansion and product launches despite ongoing operational losses.
- Margin Improvement: Gross margins improved from 11% to 28% for FY 2025, with Q4 margins reaching 30.1%, demonstrating enhanced cost control and operational efficiency, which is expected to lay the groundwork for future profitability.
- Dealer Network Expansion: The company's dealer network expanded sixfold to over 550 locations in FY 2025, indicating a significant increase in market penetration that will help drive future sales growth and brand influence.
- 2026 Outlook: Management anticipates revenue between $35 million and $42 million for 2026, with a gross margin target of 35%, reflecting confidence in new product launches and market demand while emphasizing the strategic goal of achieving positive cash flow.
See More
Worksport (WKSP) Q4 2025 Earnings Call Transcript
See More
Worksport Releases 2026 Financial Guidance and Strategic Outlook
- Disappointing Earnings Report: Worksport reported a FY GAAP EPS of -$3.16, missing expectations by $2.02, while revenue of $16.1M, despite an impressive 89.9% year-over-year increase, fell short of projections by $20.75M, indicating challenges in profitability.
- 2026 Revenue Guidance: The company anticipates full-year 2026 revenue between $35 million and $42 million, which, while showing growth potential, requires significant improvement from current levels to achieve profitability.
- Dealer Network Expansion: Management aims to grow the dealer network to 1,500 locations by the end of 2026, a move expected to be a leading revenue driver, reflecting the company's proactive strategy in market penetration and sales channel development.
- Upcoming Product Launch: Worksport plans to launch a next-generation hard tonneau cover featuring patented capabilities in early Q2 2026, which could significantly enhance market competitiveness and drive future sales growth.
See More
WORKSPORT ANTICIPATES 2026 FULL-YEAR REVENUE TO RANGE FROM $35 MILLION TO $42 MILLION
- Revenue Expectations: Co expects full-year 2026 revenue to be between $35 million and $42 million.
See More
Worksport to Release 2025 Financial Results and Outlook
- Earnings Release Schedule: Worksport is set to announce its fourth quarter and full year financial results for 2025 on March 26, 2026, after market close, which is expected to provide a clearer view of the company's financial health and operational progress.
- Conference Call Details: Management will host a conference call at 4:30 PM ET on the same day to discuss financial performance and outlook, with anticipated updates on financial guidance and the strategic roadmap towards achieving cash-flow positive operations, thereby boosting investor confidence.
- Product Development and Strategy: During the call, management is expected to share updates on key strategic initiatives and product developments, indicating the company's ongoing innovation and adaptability in the clean energy solutions sector, aimed at enhancing market competitiveness.
- Investor Engagement Opportunity: Investors, analysts, and media are invited to register in advance for the live webcast, gaining insights into the company's operational progress and financial outlook, which further promotes interaction and transparency with stakeholders.
See More
