NASDAQ : WKSP
Worksport Ltd. — Financial statements
Consumer Discretionary · Auto Parts · United States
Last price 0.2965 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 4.54M
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Financial statements
Worksport Ltd. (WKSP) reported revenue of 18.30M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 18.30M | 16.10M | 8.48M | 1.53M | 116.50K | 303.75K |
| Cost of Revenue | 12.80M | 11.63M | 7.58M | 1.29M | 56.97K | 350.70K |
| Gross Profit | 5.50M | 4.47M | 905.65K | 240.51K | 59.53K | -46.95K |
| Selling, General & Admin | 24.72M | 21.75M | 14.10M | 13.31M | 12.84M | 7.65M |
| Research & Development | 1.28M | 1.54M | 2.29M | 1.67M | ||
| Operating Expenses | 26.01M | 23.29M | 16.39M | 14.98M | 12.84M | 7.71M |
| Operating Income | -20.51M | -18.82M | -15.48M | -14.74M | -12.78M | -7.76M |
| Interest Expense | -508.38K | -592.75K | -726.10K | -616.21K | -488.70K | -294.92K |
| Interest & Investment Income | 239.35K | 212.29K | 3.69K | |||
| Currency Exchange Gain (Loss) | 4.93K | 4.59K | 14.88K | 2.69K | 10.46K | -4.17K |
| Other Non Operating Income (Expenses) | 59.43K | 53.88K | 28.14K | 184.56K | 213.38K | |
| EBT Excluding Unusual Items | -20.95M | -19.35M | -16.16M | -14.93M | -12.84M | -8.05M |
| Other Unusual Items | 302.33K | 157.64K | ||||
| Pretax Income | -20.95M | -19.35M | -16.16M | -14.93M | -12.53M | -7.90M |
| Net Income | -20.95M | -19.35M | -16.16M | -14.93M | -12.53M | -7.90M |
| Net Income to Common | -20.95M | -19.35M | -16.16M | -14.93M | -12.53M | -7.90M |
| Shares Outstanding (Basic) | 9.41M | 6.14M | 2.77M | 1.77M | 1.71M | 1.15M |
| Shares Outstanding (Diluted) | 9.41M | 6.14M | 2.77M | 1.77M | 1.71M | 1.15M |
| EPS (Basic) | -2.23 | -3.15 | -5.84 | -8.44 | -7.34 | -6.86 |
| EPS (Diluted) | -2.23 | -3.15 | -5.84 | -8.44 | -7.34 | -6.86 |
| Free Cash Flow | -22.75M | -18.10M | -10.67M | -15.62M | -19.03M | -5.31M |
| Free Cash Flow Per Share | -2.42 | -2.95 | -3.85 | -8.83 | -11.14 | -4.62 |
| Gross Margin | 30.06% | 27.79% | 10.67% | 15.72% | 51.10% | -15.46% |
| Operating Margin | -112.07% | -116.87% | -182.46% | -963.59% | -10,973.35% | -2,554.51% |
| Profit Margin | -114.49% | -120.19% | -190.51% | -975.98% | -10,758.97% | -2,599.86% |
| Free Cash Flow Margin | -124.31% | -112.43% | -125.73% | -1,021.20% | -16,330.54% | -1,748.94% |
| EBITDA | -18.72M | -16.98M | -13.73M | -13.63M | -12.30M | -7.69M |
| EBITDA Margin | -102.28% | -105.48% | -161.80% | |||
| D&A For EBITDA | 1.79M | 1.83M | 1.75M | 1.11M | 486.58K | 66.88K |
| EBIT | -20.51M | -18.82M | -15.48M | -14.74M | -12.78M | -7.76M |
| EBIT Margin | -112.07% | -116.87% | -182.46% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.16M | 5.95M | 4.88M | 3.37M | 14.62M | 28.57M |
| Short-Term Investments | 123.82K | 203.52K | 90.51K | 1.49M | 699.76K | 384.06K |
| Cash & Short-Term Investments | 1.28M | 6.15M | 4.97M | 4.86M | 15.32M | 28.95M |
| Accounts Receivable | 1.01M | 503.97K | 42.59K | 463.12K | 62.60K | 62.68K |
| Other Receivables | 312.42K | 278.03K | 169.73K | 165.87K | 268.03K | 184.72K |
| Receivables | 1.32M | 782.00K | 212.32K | 628.99K | 330.63K | 247.41K |
| Inventory | 12.07M | 9.53M | 5.19M | 3.63M | 1.35M | 501.77K |
| Prepaid Expenses | 220.21K | 327.34K | 101.68K | 5.21K | 1.33M | 4.33M |
| Total Current Assets | 14.89M | 16.79M | 10.48M | 9.12M | 18.33M | 34.03M |
| Property, Plant & Equipment | 12.16M | 12.96M | 14.24M | 15.40M | 12.53M | 1.64M |
| Long-Term Investments | 67.03K | 66.31K | 90.73K | |||
| Other Intangible Assets | 665.34K | 896.53K | 953.05K | 1.34M | 1.27M | 593.05K |
| Other Long-Term Assets | 367.08K | 629.42K | 24.42K | |||
| Total Assets | 28.09M | 30.71M | 25.74M | 25.95M | 32.76M | 36.29M |
| Accounts Payable | 2.43M | 3.11M | 1.53M | 1.26M | 2.03M | 1.03M |
| Accrued Expenses | 1.11M | 1.82M | 1.18M | 275.91K | 223.75K | |
| Short-Term Debt | 2.19K | 46.10K | 327.14K | |||
| Current Portion of Long-Term Debt | 281.09K | 1.69M | 222.99K | 5.30M | ||
| Current Portion of Leases | 112.48K | 113.01K | 246.53K | 328.23K | 387.33K | 212.93K |
| Total Current Liabilities | 3.93M | 6.73M | 3.17M | 7.17M | 2.46M | 1.80M |
| Long-Term Debt | 4.98M | 950.48K | 4.78M | 5.30M | ||
| Long-Term Leases | 105.19K | 159.53K | 368.47K | 608.76K | 884.15K | 316.99K |
| Total Liabilities | 9.01M | 7.84M | 8.32M | 7.78M | 8.65M | 2.11M |
| Common Stock | 15.28K | 9.81K | 4.02K | 2.03K | 1.72K | 1.70K |
| Additional Paid-In Capital | 110.65M | 101.36M | 79.78M | 64.69M | 56.92M | 54.61M |
| Retained Earnings | -93.72M | -83.87M | -64.48M | -48.31M | -33.38M | -20.85M |
| Comprehensive Income & Other | 2.13M | 5.38M | 2.10M | 1.80M | 581.13K | 419.96K |
| Total Common Equity | 19.08M | 22.88M | 17.41M | 18.18M | 24.12M | 34.18M |
| Shareholders' Equity | 19.08M | 22.88M | 17.41M | 18.18M | 24.12M | 34.18M |
| Total Liabilities & Equity | 28.09M | 30.71M | 25.74M | 25.95M | 32.76M | 36.29M |
| Total Debt | 5.47M | 2.91M | 5.62M | 6.24M | 6.62M | 857.06K |
| Net Cash (Debt) | -4.19M | 3.24M | -645.39K | -1.38M | 8.70M | 28.09M |
| Net Cash Per Share | -0.45 | 0.53 | -0.23 | -0.78 | 5.10 | 24.42 |
| Filing Date Shares Outstanding | 15.30M | 11.89M | 4.80M | 2.41M | 1.72M | 1.70M |
| Total Common Shares Outstanding | 15.28M | 9.81M | 4.02M | 2.03M | 1.72M | 1.70M |
| Working Capital | 10.96M | 10.06M | 7.30M | 1.96M | 15.87M | 32.24M |
| Book Value Per Share | 1.25 | 2.33 | 4.34 | 8.95 | 14.06 | 20.16 |
| Tangible Book Value | 18.41M | 21.98M | 16.46M | 16.84M | 22.85M | 33.59M |
| Tangible Book Value Per Share | 1.20 | 2.24 | 4.10 | 8.29 | 13.32 | 19.81 |
| Land | 2.24M | 2.24M | 2.24M | 2.24M | 2.24M | |
| Buildings | 6.08M | 6.08M | 6.08M | 6.08M | 6.08M | |
| Machinery | 8.12M | 8.22M | 7.49M | 6.97M | 2.86M | 833.84K |
| Leasehold Improvements | 503.97K | 489.72K | 862.50K | 861.33K | 675.75K | 368.23K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -20.95M | -19.35M | -16.16M | -14.93M | -12.53M | -7.90M |
| Depreciation & Amortization | 1.79M | 1.83M | 1.75M | 1.11M | 486.58K | 66.88K |
| Stock-Based Compensation | 3.08M | 3.04M | 2.92M | 5.75M | 4.90M | 3.92M |
| Provision & Write-off of Bad Debts | 62.33K | |||||
| Other Operating Activities | 227.47K | 237.15K | 57.35K | -13.78K | -264.18K | 249.99K |
| Change in Accounts Receivable | -711.37K | -461.38K | 387.56K | -400.52K | 83.00 | -2.23K |
| Change in Inventory | -6.18M | -4.34M | -1.56M | -2.29M | -844.60K | -460.97K |
| Change in Accounts Payable | 461.86K | 2.18M | 1.17M | -492.11K | 995.34K | 187.51K |
| Change in Other Net Operating Assets | 234.47K | -446.97K | 1.30M | -674.54K | -716.20K | -337.09K |
| Operating Cash Flow | -22.06M | -17.31M | -10.14M | -11.93M | -7.98M | -4.21M |
| Capital Expenditures | -691.77K | -789.46K | -528.24K | -3.69M | -11.05M | -1.10M |
| Sale (Purchase) of Intangibles | -98.96K | -330.04K | -103.33K | -29.95K | ||
| Investment in Securities | 56.37K | -66.31K | ||||
| Investing Cash Flow | -734.36K | -1.12M | -528.24K | -3.76M | -11.15M | -1.13M |
| Short-Term Debt Issued | 12.15K | |||||
| Long-Term Debt Issued | 13.78M | 11.79M | 5.31M | |||
| Total Debt Issued | 21.28M | 13.78M | 11.79M | 5.31M | 12.15K | |
| Short-Term Debt Repaid | -206.67K | -5.33M | ||||
| Long-Term Debt Repaid | -15.94M | -6.76M | -43.90K | -128.39K | -62.91K | |
| Total Debt Repaid | -18.35M | -16.15M | -12.09M | -43.90K | -128.39K | -62.91K |
| Net Debt Issued (Repaid) | 2.93M | -2.37M | -298.19K | -43.90K | 5.18M | -50.75K |
| Issuance of Common Stock | 10.66M | 12.82M | 12.48M | 4.48M | 32.85M | |
| Other Financing Activities | 5.96M | 5.97M | ||||
| Financing Cash Flow | 22.56M | 19.50M | 12.18M | 4.43M | 5.18M | 32.80M |
| Net Cash Flow | -232.98K | 1.06M | 1.52M | -11.25M | -13.95M | 27.46M |
| Free Cash Flow | -22.75M | -18.10M | -10.67M | -15.62M | -19.03M | -5.31M |
| Free Cash Flow Margin | -124.31% | -112.43% | -125.73% | -1,021.20% | -16,330.54% | -1,748.94% |
| Free Cash Flow Per Share | -2.42 | -2.95 | -3.85 | -8.83 | -11.14 | -4.62 |
| Levered Free Cash Flow | -15.36M | -11.29M | -6.06M | -8.17M | -11.22M | -6.46M |
| Unlevered Free Cash Flow | -15.04M | -10.92M | -5.60M | -7.78M | -10.91M | -6.28M |
| Cash Interest Paid | 595.00K | 593.00K | 726.00K | 626.00K | 479.00K | |
| Change in Working Capital | -6.20M | -3.07M | 1.30M | -3.85M | -565.38K | -612.77K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.44M | 17.58M | 30.30M | 28.96M | 17.10M | 40.83M |
| Enterprise Value | 8.64M | 16.69M | 34.43M | 31.58M | 6.13M | 12.70M |
| Last Close Price | 0.28 | 2.13 | 9.20 | 14.90 | 9.95 | 24.20 |
| PS Ratio | 0.24 | 1.09 | 3.57 | 18.93 | 146.81 | 134.42 |
| PB Ratio | 0.23 | 0.77 | 1.74 | 1.59 | 0.71 | 1.20 |
| P/TBV Ratio | 0.24 | 0.80 | 1.84 | 1.72 | 0.75 | 1.22 |
| EV/Sales Ratio | 0.47 | 1.04 | 4.06 | 20.65 | 52.64 | 41.81 |
| Debt / Equity Ratio | 0.29 | 0.13 | 0.32 | 0.34 | 0.27 | 0.03 |
| Net Debt / Equity Ratio | 0.22 | -0.14 | 0.04 | 0.08 | -0.36 | -0.82 |
| Net Debt / EBITDA Ratio | -0.22 | 0.19 | -0.05 | -0.10 | 0.71 | 3.65 |
| Net Debt / FCF Ratio | -0.18 | 0.18 | -0.06 | -0.09 | 0.46 | 5.29 |
| Asset Turnover | 0.71 | 0.57 | 0.33 | 0.05 | 0.00 | 0.02 |
| Inventory Turnover | 1.43 | 1.58 | 1.72 | 0.52 | 0.06 | 1.29 |
| Quick Ratio | 0.66 | 1.03 | 1.63 | 0.77 | 6.36 | 16.25 |
| Current Ratio | 3.79 | 2.50 | 3.30 | 1.27 | 7.45 | 18.94 |
| Return on Equity (ROE) | -115.14% | -96.06% | -90.83% | -70.59% | -43.00% | -45.98% |
| Return on Assets (ROA) | -49.61% | -41.67% | -37.44% | -31.38% | -23.14% | -25.39% |
| Return on Capital Employed (ROCE) | -84.90% | -78.50% | -68.60% | -78.50% | -42.20% | -22.50% |
| Earnings Yield | -768.99% | -110.07% | -53.34% | -51.56% | -73.28% | -19.34% |
| FCF Yield | -525.43% | -102.97% | -35.20% | -53.95% | -111.23% | -13.01% |
| Buyback Yield / Dilution | -136.55% | -121.88% | -56.52% | -3.58% | -48.45% | -320.70% |