NEWS ER
Worksport ($WKSP) Announces Record High Revenues; 275% Q2 Growth
Positive
Record Q2 2024 revenue of $1.92 million, an 860% increase year-over-year
275% revenue growth from Q1 2024 to Q2 2024
Gross profit margins improved to 15.4%, a 111% increase from Q1
Monthly Recurring Revenue (MRR) on track to hit $1 million per month
Projected revenue of $6-8 million by year-end 2024 for tonneau cover business
Forecast of $15-20 million in revenues for FY 2025 for tonneau cover business
Launch of new clean-tech products SOLIS and COR in September
Negative
Net loss from operations of $7,550,214 for the six months ended June 30, 2024
Increased operating expenses of $7,884,299 for the six months ended June 30, 2024
Early 2024 production efficiency below baseline due to process enhancements
Record Q2 2024 revenue of $1.92 million, an 860% increase year-over-year
275% revenue growth from Q1 2024 to Q2 2024
Gross profit margins improved to 15.4%, a 111% increase from Q1
Monthly Recurring Revenue (MRR) on track to hit $1 million per month
Projected revenue of $6-8 million by year-end 2024 for tonneau cover business
Forecast of $15-20 million in revenues for FY 2025 for tonneau cover business
Launch of new clean-tech products SOLIS and COR in September
Negative
Net loss from operations of $7,550,214 for the six months ended June 30, 2024
Increased operating expenses of $7,884,299 for the six months ended June 30, 2024
Early 2024 production efficiency below baseline due to process enhancements
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