Worksport Ltd (WKSP) FinancialsWKSPWorksport Ltd

Worksport Ltd (WKSP) generates its revenue through a diversified portfolio of business segments. Currently, the largest contributor to its top-line growth is Hard Tonneau Covers, accounting for 98.7% of total sales, equivalent to $3.27M. Another important revenue stream is Soft Tonneau Covers. Understanding this composition is critical for investors evaluating how WKSP navigates market cycles within the Business Support Services industry.

Evaluating the bottom line, Worksport Ltd maintains a gross margin of 31.55%. This metric reflects the company's pricing power and manufacturing efficiency. Further down the income statement, the operating margin stands at -73.05%, while the net margin is -75.82%. These profitability ratios, combined with a Return on Equity (ROE) of -115.14%, provide a clear picture of how effectively WKSP converts its operational activities into shareholder value.

In the context of the broader market, WKSP competes directly with industry leaders such as MKDW and FRSX. With a market capitalization of $5.44M, it holds a significant position in the sector. When comparing efficiency, WKSP's gross margin of 31.55% stands against MKDW's 11.77% and FRSX's 72.09%. Such benchmarking helps identify whether Worksport Ltd is trading at a premium or discount relative to its financial performance.

Worksport has shown improvements in gross profit, with Q2 2026 gross profit reaching $1.65 million, a 52.5% increase year-over-year. However, the company continues to report net losses, with a net loss of $3.97 million in Q2 2026, indicating ongoing financial challenges despite revenue growth.