Worksport Ltd. (WKSP) Income Statement
WKSP 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsWKSP revenue and net income
Where WKSP's revenue goes
2025Each bar shows an amount and its share of revenue. WKSP kept −120.2% of revenue as net income.
WKSP profit margins
WKSP growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +89.8% | +417.0% | +115.5% | +37.8% |
| Gross profit | +394.1% | +322.0% | +148.6% | +43.7% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
WKSP quarterly EPS vs estimates
Worksport beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 12, 2026 (estimate $-0.18).
WKSP income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.1M | $8.5M | $1.5M | $116,502 | $303,750 | $346,144 | $1.9M | $481,521 | $408,701 | $361,123 |
| Cost of revenue | $11.6M | $7.6M | $1.3M | $56,967 | $350,702 | $298,996 | $1.7M | $384,908 | $231,771 | $334,060 |
| Gross profit | $4.5M | $905,650 | $240,514 | $59,535 | −$46,952 | $47,148 | $238,547 | $96,613 | $176,930 | $27,063 |
| Research & development | $1.5M | $2.3M | $1.7M | — | — | — | — | — | — | — |
| Sales, general & admin | $21.8M | $14.1M | $13.3M | $12.8M | $7.5M | $1.0M | $809,693 | $1.2M | $2.0M | $381,624 |
| Total operating expenses | $23.0M | $16.4M | $15.0M | $12.8M | $7.5M | $1.0M | $776,399 | $1.3M | $2.0M | $381,624 |
| Operating income | −$18.5M | −$15.5M | −$14.7M | −$12.8M | −$7.6M | −$986,239 | −$537,851 | −$1.2M | −$1.8M | −$354,561 |
| Interest income | — | $37,492 | $239,353 | $212,290 | $3,694 | $0 | — | — | — | — |
| Interest expense | $592,755 | $726,095 | $616,214 | $488,704 | $294,923 | $386,249 | $71,961 | $55,966 | $170,122 | $0 |
| Income before taxes | −$19.4M | −$16.2M | −$14.9M | −$12.5M | −$7.9M | −$1.2M | −$359,033 | −$1.8M | −$3.4M | −$1.1M |
| Income taxes | — | — | $800,778 | −$312,793 | $294,923 | $386,249 | $71,961 | $580,252 | $1.5M | — |
| Net income | −$19.4M | −$16.2M | −$14.9M | −$12.5M | −$7.9M | −$1.2M | −$359,034 | −$1.8M | −$3.4M | −$1.1M |
| EBITDA | −$16.9M | −$13.7M | −$13.2M | −$11.6M | −$7.5M | −$774,409 | −$275,635 | −$1.7M | −$3.4M | −$353,563 |
| EPS (diluted) | −$3.23 | −$4.34 | −$8.50 | −$5.60 | −$0.56 | −$0.64 | −$0.13 | −$3.96 | −$24.37 | −$20.11 |
| Gross margin | 27.8% | 10.7% | 15.7% | 51.1% | −15.5% | 13.6% | 12.4% | 20.1% | 43.3% | 7.5% |
| Operating margin | −115.0% | −182.3% | −963.4% | −10,964.4% | −2,489.5% | −284.9% | −27.9% | −251.5% | −435.6% | −98.2% |
| Net margin | −120.2% | −190.5% | −976.0% | −10,759.0% | −2,599.9% | −343.1% | −18.6% | −366.1% | −832.7% | −314.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.2M | $3.3M | $4.7M | $5.0M | $4.1M | $2.2M | $2.9M | $3.1M | $1.9M | $512,637 | $839,373 | $458,483 |
| Cost of revenue | $3.6M | $2.5M | $3.3M | $3.4M | $3.0M | $1.8M | $2.6M | $2.9M | $1.6M | $475,181 | $747,277 | $368,796 |
| Gross profit | $1.6M | $853,946 | $1.4M | $1.6M | $1.1M | $396,221 | $324,392 | $247,173 | $296,629 | $37,456 | $92,096 | $89,687 |
| Research & development | $214,183 | $205,333 | $563,394 | $301,095 | $304,833 | $369,601 | $2.3M | $396,446 | $1.0M | $381,000 | $1.7M | — |
| Sales, general & admin | $5.3M | $6.4M | $4.6M | $6.1M | $4.4M | $4.3M | $2.1M | $3.5M | $3.1M | $3.3M | $3.6M | $4.0M |
| Total operating expenses | $5.5M | $6.6M | $7.3M | $6.4M | $4.7M | $4.7M | $4.3M | $4.2M | $4.2M | $3.7M | $3.6M | $4.0M |
| Operating income | −$3.8M | −$5.7M | −$5.9M | −$4.8M | −$3.6M | −$4.3M | −$4.0M | −$3.9M | −$3.9M | −$3.6M | −$3.5M | −$3.9M |
| Interest income | — | — | — | $2,979 | $11,303 | $8,134 | $34,438 | $0 | $0 | $3,054 | $1,755 | $38,992 |
| Interest expense | $146,837 | $92,383 | $152,689 | $138,887 | $128,156 | $195,438 | $238,632 | $229,701 | $134,164 | $123,598 | $149,384 | $113,838 |
| Income before taxes | −$4.0M | −$5.8M | −$6.2M | −$4.9M | −$3.7M | −$4.5M | −$4.3M | −$4.1M | −$4.0M | −$3.7M | −$3.7M | −$3.9M |
| Income taxes | — | — | — | — | — | — | −$3 | — | $5 | $3 | $194,056 | −$558,352 |
| Net income | −$4.0M | −$5.8M | −$6.2M | −$4.9M | −$3.7M | −$4.5M | −$4.3M | −$4.1M | −$4.0M | −$3.7M | −$3.7M | −$3.9M |
| EBITDA | −$3.4M | −$5.3M | −$5.6M | −$4.3M | −$3.2M | −$3.8M | −$3.3M | −$3.5M | −$3.6M | −$3.2M | −$3.4M | −$3.3M |
| EPS (diluted) | −$0.33 | −$0.54 | −$0.72 | −$0.75 | −$0.71 | −$1.05 | −$1.26 | −$1.40 | −$1.50 | −$0.18 | −$1.90 | −$2.30 |
| Gross margin | 31.5% | 25.8% | 30.1% | 31.3% | 26.4% | 17.7% | 11.1% | 7.9% | 15.4% | 7.3% | 11.0% | 19.6% |
| Operating margin | −73.0% | −173.5% | −123.4% | −95.6% | −88.1% | −190.0% | −137.0% | −125.1% | −203.5% | −709.9% | −422.8% | −854.9% |
| Net margin | −75.8% | −175.9% | −131.3% | −98.3% | −91.0% | −199.1% | −146.9% | −132.4% | −208.9% | −724.6% | −435.9% | −861.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in WKSP's financial statements (latest annual report filed March 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
WKSP financial results
In fiscal year 2025 (ended December 31, 2025), Worksport reported revenue of $16.1 million, up 89.8% from the year before. It had a net loss of $19.4 million, a net profit margin of −120.2%. Diluted earnings per share came to −$3.23. Over five years revenue grew at an average rate of 115.5% a year.
See the WKSP stock overview for the latest quote and news, or the WKSP chart for price history and technical indicators.
WKSP income statement FAQ
What is Worksport's annual revenue?
Worksport reported total revenue of $16.1 million for fiscal year 2025, which ended on December 31, 2025. That was up 89.8% from $8.5 million the previous year.
Is Worksport profitable?
No. Worksport reported a net loss of $19.4 million in fiscal 2025, a net profit margin of −120.2%; its operating margin was −115.0%.
What is Worksport's gross margin?
Worksport's gross margin was 27.8% in fiscal 2025: for every $100 of revenue, Worksport kept $28 after the direct cost of its products and services.
How much does Worksport spend on research and development?
Worksport spent $1.5 million on research and development in fiscal 2025, 9.6% of revenue.
How fast is Worksport growing?
Revenue grew 115.5% a year on average over the last five fiscal years, from $0.3 million to $16.1 million.
What are Worksport's earnings per share?
Worksport earned $-3.23 per diluted share in fiscal 2025, compared with $-4.34 a year earlier.
When will Worksport report its next earnings?
Worksport is expected to report results for the quarter ending September 30, 2026 on November 12, 2026 after the market closes.
When does Worksport's fiscal year end?
Worksport's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 26, 2026.