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Krypton Street Announces Coverage On Worksport Ltd. (NASDAQ: WKSP) Starting This Morning—Monday, June 23, 2025
(WKSP) Comes Backed By Several Potential Catalysts Like:
Ultra Small Float: With fewer than 5M shares listed, (WKSP) has a structure that could lead to the potential for big swings if demand begins to shift.
Recent Momentum: (WKSP) moved approximately 46% inside of just 9 sessions, from $2.46 on 5/28 to $3.60 on 6/9.
Analyst Attention: H.C. Wainwright's Scott Buck recently reiterated a bullish rating on (WKSP) with an $11.50 target, which suggests over 300% upside potential.
Production Scaling: Factory output for (WKSP) is on track to reach 200 units per day by late summer, with Q1 2025 revenue up 337% year-over-year.
Clean Energy Focus: (WKSP) is expanding with proprietary solar, mobile energy storage, and cold-climate heat pump solutions.
Dealer Network Growth: (WKSP) increased active dealer accounts by 64% in Q1 2025.
Intellectual Property Depth: (WKSP) holds over 170 approved, registered, or pending patents and trademarks.
Take A Look At (WKSP) This Morning While It's Still Early…
June 23, 2025 Monday Morning Review | We Have All Eyes (WKSP) Right Now Dear Reader, Here we are, fresh out of the gate, and (WKSP) is lighting up our radar. This morning, Worksport Ltd. (NASDAQ: WKSP) made headlines with fresh numbers that are hard to ignore. The company reported $1.28M in May 2025 revenue—its second consecutive month of record-breaking sales (non-audited)—and gross margins that are on the rise. On the news, (WKSP) touched $3.13 in the early session, an approximate 11% move from yesterday's $2.80 close. The company credits the momentum to its Made-in-USA cover line, growing dealer network, and operational efficiency at its New York facility. Gross margins climbed to around 23% in May, with management targeting 30% by year-end as scale and cost efficiencies continue to build. Revenue for April and May combined has already surpassed the company's entire Q1 2025 total, and leadership projects approximately $20M in revenue by the end of 2025—with positive ca-sh flow within reach. See the full story here. Take a closer look at (WKSP) while this momentum builds. Names like this don't tend to stay quiet for long—and this morning, we're watching Worksport Ltd. (NASDAQ: WKSP) closely. With a market cap under $15M and fewer than 5M shares listed as available to the public, (WKSP) has one of the smallest floats we've tracked recently—and it's already made a move: approximately 46% over 9 sessions, climbing from $2.46 on 5/28 to $3.60 on 6/9. According to reports from Benzinga, Street Insider, and TipRanks, H.C. Wainwright's Scott Buck recently reiterated a "Bullish" rating on (WKSP), setting a target of $11.50, which suggests over 300% upside potential from Friday's $2.80 close. 
At the same time, Maxim Group's Tate Sullivan, CFA, issued a $7 target, which stands about 150% above Friday's close. From a technical standpoint, (WKSP) touched $3.09 intraday Friday, clearing key short-term averages (5-day at $2.99, 20-day at $3.01, and 50-day at $3.01), with longer-term levels at $4.62 (100-day) and $5.77 (200-day) still ahead. Keep reading to see why (WKSP) is topping our watchlist tomorrow morning—Monday, June 23, 2025. An Engine of Growth: Record-Setting Performance in Q1 2025
In Q1 2025, Worksport reported $2.24M in revenue, a 337% year-over-year increase from Q1 2024. That surge was driven by the late-quarter launch of the AL4 premium tonneau cover, a product that blends advanced engineering, durability, and U.S. manufacturing. Gross margin rose to nearly 18%, up from 7% in Q1 2024. Management has targeted 25% to 30% gross margin by late 2025 as production scales and higher-margin products take a larger share of the mix. (WKSP) closed the quarter with $7.94M in working capital and $5.08M in cash, providing the flexibility needed to drive expansion while supporting operational resilience. Where It's Headed in 2025
Worksport's roadmap for 2025 includes targeting $20M to $25M in revenue—a bold increase over 2024. The AL4 is at the heart of this plan, with factory output on track for 200 units per day by late summer, supporting as much as $45M in annual top-line potential from e-commerce channels alone. The innovation pipeline is just as critical. The company is preparing to release: - The HD3 heavy-duty tonneau cover, aimed at commercial and fleet buyers
- The SOLIS solar-integrated cover, now in paid beta testing
- The COR portable energy system, approaching mass production
These new launches are designed to diversify (WKSP)'s customer base and broaden its presence beyond traditional automotive markets. 
Beyond the numbers, what sets (WKSP) apart is its foundation as a U.S.-based manufacturer committed to clean energy integration and advanced engineering. Worksport Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions. The company holds an active partnership with Hyundai for the SOLIS solar cover and is gaining traction with newer truck makers, including those in the electric vehicle sector, thanks to its in-house designed hard-folding covers compatible with all major truck models. (WKSP) is aligned with the growing consumer shift toward clean energy integrations through its proprietary solar solutions, mobile energy storage systems, and cold-climate heat pump technology. Among these innovations is the AetherLux cold-climate heat pump, developed through its Terravis Energy division, designed to operate at temperatures as low as -57°F (-49°C) without defrost cycles—technology that has drawn strong interest from major global companies in a heating and cooling sector estimated at $123B.
This strong foundation is what gives (WKSP)'s 2025 plan real weight—not just in projections, but in execution. The company's expanding portfolio and active industry partnerships reflect a strategy built for long-term relevance. As (WKSP) advances toward its growth targets, its operational discipline and leadership vision have become critical to the story. Behind the Curtain: Insights From the Q1 Call On its latest earnings call, management emphasized its target of reaching cash flow breakeven by late 2025 or early 2026. Leadership pointed to margin improvements, scaling production efficiencies, and disciplined spending as critical enablers. The expansion of Worksport's dealer network—up 64% in Q1 alone—along with strong initial feedback on AL4 quality and design, are early signs that this plan is gaining momentum. The company also reaffirmed its focus on "U.S.-based" manufacturing and strategic international sourcing to mitigate tariff and supply chain risks. Taken together, these efforts highlight a business that's not just growing on paper—but actively executing on a disciplined, multi-faceted strategy. The progress Worksport has already made speaks to a plan that's firmly in motion. What follows are some of the tangible milestones that illustrate how this strategy is translating into action. Key Milestones Powering the Next Chapter
From 2025 Q1 Report - AL4 Tonneau Cover Launch: Worksport successfully introduced its flagship AL4 in late Q1, with positive customer feedback on aesthetics, functionality, and durability.
- Production Ramp: Factory output is scaling toward 200 units/day by Q3 2025—a pace that could support significant revenue growth and margin expansion.
- Innovation Advances: The SOLIS solar cover moved into paid beta testing; COR entered final engineering stages; the HD3 heavy-duty cover is on track for release in the coming months.
- AetherLux Heat Pump Breakthrough: Through its Terravis Energy division, Worksport unveiled a heat pump capable of ultra-low temperature operation without defrost cycles—sparking strong interest from major global players.
- Intellectual Property Strength: The company now holds over 170 approved, registered, and pending patents and trademarks, protecting key innovations across its product lines.
- Dealer Network Growth: Active dealer accounts rose from 92 at year-end 2024 to 151 by March 2025, with plans to add 200+ more in Q2.
Why Worksport Belongs on Your Radar
(WKSP) has entered 2025 with accelerating momentum: scaling high-margin products, advancing new technologies, and staying disciplined in its drive toward cash flow breakeven. The combination of strong dealer uptake, expanding production, and a robust innovation pipeline sets this U.S. manufacturer apart as one to monitor closely. These achievements reflect more than just plans—they show real execution and traction across critical areas. As (WKSP) continues to advance, multiple factors are converging that could make it one of the most interesting names on the screen right now. To give you a clear view of why this name has our full attention heading into Monday, here's a focused breakdown of the key points that stand out today. 7 Reasons Why (WKSP) Is Topping Our Watchlist Tomorrow Morning—
Monday, June 23, 2025
1. Ultra Small Float: with fewer than 5M shares listed, (WKSP) has one of the smallest public floats we've recently tracked—a structure that could have the potential to amplify moves if demand begins to shift.. 2. Recent Momentum: (WKSP) moved approximately 46% inside of just 9 sessions, moving from $2.46 on 5/28 to $3.60 on 6/9, showing how quickly momentum can build. 3. Analyst Attention: H.C. Wainwright's Scott Buck recently reiterated a "Bullish" rating on (WKSP), with an $11.50 target, which suggests over 300% upside potential from its recent range. 4. Production Scaling: factory output for (WKSP) is on track to reach 200 units per day by late summer, with Q1 2025 revenue up 337% year-over-year to $2.24M—highlighting strong early execution. 5. Clean Energy Focus: (WKSP) is expanding beyond traditional covers with proprietary solar, mobile energy storage, and cold-climate heat pump solutions that align with major market trends. 6. Dealer Network Growth: (WKSP) increased active dealer accounts by 64% in Q1 alone, laying the groundwork for broader market presence in the months ahead. 7. Intellectual Property Depth: with over 170 patents and trademarks approved, registered, or pending, (WKSP) has built a strong IP foundation to protect and extend its innovations. Take A Look At (WKSP) This Morning While It's Still Early…
The case for taking a closer look at Worksport Ltd. (NASDAQ: WKSP) is built on substance. With one of the smallest public floats we've tracked, recent momentum, analyst attention, and a clear path for scaling production, (WKSP) is positioning itself in ways that demand notice. Add in its focus on clean energy solutions, rapid dealer network growth, and deep intellectual property portfolio—and there are multiple reasons why this name stands out right now. We have all eyes on (WKSP) this morning. Take a look at (WKSP) while it's still early. (WKSP) made headlines this morning with fresh numbers that are hard to ignore. The company reported $1.28M in May 2025 revenue—its second consecutive month of record-breaking sales (non-audited)—and gross margins that are on the rise. On the news, (WKSP) touched $3.13 in the early session, an approximate 11% move from yesterday's $2.80 close. Have you pulled this up yet? Keep a lookout for my next update—it could be coming at any moment. Sincerely, Alex Ramsay
Co-Founder / Managing Editor
Krypton Street Newsletter | 
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