Worksport Ltd. (NASDAQ: WKSP) has reported a 1,506% revenue increase in Q1 2024, rising from $31,925 to $512,637, while reducing operational expenses by 4.8%.
According to the statement released by the Organisation, stating that this growth was driven by private label sales and the launch of new products like the SOLIS Solar Tonneau Cover and COR Modular Portable Energy System.
The Organisation said April 2024 sales have shown positive results, and this will provide forward guidance on May 23, 2024, anticipating significant revenue growth.
Worksport recently received a $2.8 million grant from New York State and is expanding its North American distribution network. CEO Steven Rossi emphasized the company’s strategic investments and resilience as key to future success.
Worksport Ltd. (NASDAQ: WKSP), is a leading U.S.-based manufacturer, innovator of hybrid and clean energy solutions for light truck, overlanding, and global consumer goods sectors, expected to create up to or over 280 new jobs from 2025 to 2030 and if achieved will receive cash benefits for the creation of these jobs, amounting to $2.8 million received over the next 10 years.