Worksport (NASDAQ:WKSP) on Thursday announced its unaudited top-line results for the third quarter of 2025, reporting record quarterly revenue and gross profit.
The clean energy technologies company reported a quarterly revenue of $5.02 million, up 62% year-over-year, marginally missing the analyst consensus estimate of $5.58 million.
The revenue rose 22% from the prior quarter.
Also Read: Worksport Clocks $1.3 Million Revenue In May, Margins Rise
The gross profit climbed 548% Y/Y to $1.60 million. The profit increased 48.1% from the previous quarter.
The gross margin expanded by 2,310 basis points year-over-year to 31%, reflecting new product launches, structural improvements, process enhancements, fixed-cost absorption, and scale. The margin expanded by 460 basis points quarter-over-quarter.
Worksport reported production of 8,600 units in the quarter, up from 6,000 in the second quarter and 4,300 in the first quarter.
The company said it believes its U.S. tonneau cover factory is capable of $100 million+ in annual revenue without further investment.
CEO Steven Rossi highlighted that the company achieved substantial quarter-over-quarter margin and revenue growth even before launching its next-generation products.
He noted that SOLIS, COR, and Terravis represent the next chapter for a company that has already demonstrated strong execution.
WKSP Price Action: Worksport shares were down 3.23% at $3.30 at the time of publication on Thursday. The stock is near its 52-week low of $2.44, according to Benzinga Pro data.
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