WKSP | Market Cap: $11.2M (07/13/26)
Industry:
Automotive Manufacturing

DESCRIPTION

Worksport designs and manufactures tonneau covers — folding covers for pickup truck beds — sold under its own brand primarily in the U.S. and Canada. The company makes both soft and hard folding covers across several product lines targeting consumers, commercial fleets, and dealers at different price points. Hard covers, manufactured at Worksport's West Seneca, New York facility using predominantly U.S.-sourced aluminum, are the core revenue driver. The flagship AL4 premium hard cover and the HD3 heavy-duty cover are the primary products. Soft covers are manufactured overseas and represent a shrinking portion of the mix as Worksport shifts toward higher-margin domestic hard covers. Worksport sells through a U.S. dealer network of over 550 locations and direct-to-consumer e-commerce, with online sales accounting for over half of unit volumes in Q2 2025. Beyond tonneau covers, Worksport is commercializing two clean energy products: SOLIS, a solar-integrated tonneau cover that generates power to charge compatible battery systems, and COR, a modular portable battery system that can pair with SOLIS or operate standalone. Both launched in late 2025 with broader scaling planned for 2026. Worksport also has a subsidiary, Terravis Energy, developing AetherLux, a heat pump system still in R&D with no commercialization timeline. Worksport is pre-profitability and funds operations through equity issuances, with management targeting operating cash flow positivity in H1 2026.

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