WKSP · Worksport Ltd - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.31M | - | $5.01M | $4.10M | $2.24M | - | $3.12M | $1.92M | $512.6K | - |
| Cost of Revenue | $2.46M | - | $3.45M | $3.02M | $1.84M | - | $2.88M | $1.62M | $475.2K | - |
| Gross Profit | $853.9K | - | $1.57M | $1.08M | $396.2K | - | $247.2K | $296.6K | $37.5K | - |
| R&D | $205.3K | - | $301.1K | $304.8K | $381.0K | - | - | - | - | - |
| SG&A | $6.17M | - | $3.75M | $3.97M | $3.29M | - | $2.88M | $2.95M | $2.67M | - |
| Total Operating Expenses | $6.60M | - | $6.36M | $4.70M | $4.65M | - | $4.15M | $4.21M | $3.68M | - |
| D&A | $426.2K | - | $403.9K | $443.9K | $445.0K | - | - | - | $383.1K | - |
| Operating Income | ($5.74M) | - | ($4.79M) | ($3.62M) | ($4.26M) | - | ($3.91M) | ($3.91M) | ($3.64M) | - |
| Interest Expense | $92.4K | - | $138.9K | $128.2K | $123.6K | - | $229.7K | $187.9K | $123.6K | - |
| Income Tax | - | - | - | - | - | - | - | - | - | - |
| Net Income | ($5.83M) | - | ($4.93M) | ($3.73M) | ($4.46M) | - | ($4.13M) | ($4.01M) | ($3.71M) | - |
| EPS - Basic | ($0.54) | - | ($0.75) | ($0.71) | ($1.05) | - | ($1.40) | ($1.50) | ($1.80) | - |
| EPS - Diluted | ($0.54) | - | ($0.75) | ($0.71) | ($1.05) | - | ($1.40) | ($1.50) | ($1.80) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $566.6K | $5.95M | $3.76M | $1.39M | $5.08M | $4.88M | $1.86M | $3.43M | $3.54M | $3.37M |
| Accounts Receivable | $480.2K | $504.0K | $515.1K | $296.0K | $68.0K | $42.6K | $330.0K | $623.4K | $156.3K | $463.1K |
| Inventory | $11.62M | $9.53M | $6.84M | $5.88M | $5.73M | $5.19M | $6.14M | $6.39M | $6.54M | $3.63M |
| Accounts Payable | $2.84M | $3.11M | $2.81M | $1.97M | $1.76M | $1.53M | - | - | - | $1.26M |
| Current Assets | $13.47M | $16.79M | $12.38M | $8.49M | $11.45M | $10.48M | $8.89M | $10.74M | $10.74M | $9.12M |
| Total Assets | $27.88M | $30.71M | $27.05M | $23.58M | $26.66M | $25.74M | $24.94M | $27.19M | $27.29M | $25.95M |
| Current Liabilities | $6.89M | $6.73M | $6.07M | $3.73M | $3.52M | $3.17M | $3.01M | $2.25M | $7.84M | $7.17M |
| Long-term Debt | $3.44M | $2.68M | $2.88M | $2.48M | $3.14M | $5.26M | - | - | - | $5.30M |
| Total Liabilities | $7.90M | $7.84M | $7.27M | $6.26M | $6.54M | $8.32M | $8.58M | $8.04M | $8.39M | $7.78M |
| Stockholders' Equity | $19.98M | $22.88M | $19.78M | $17.32M | $20.13M | $17.41M | $16.36M | $19.15M | $18.90M | $18.18M |
| Retained Earnings | ($89.73M) | ($83.87M) | ($77.62M) | ($72.67M) | ($68.94M) | ($64.48M) | ($60.18M) | ($56.04M) | ($52.03M) | ($48.31M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($8.23M) | - | - | - | ($3.84M) | - | - | - | ($2.79M) | - |
| Investing Cash Flow | ($103.6K) | - | - | - | ($458.3K) | - | - | - | ($213.0K) | - |
| Financing Cash Flow | $2.96M | - | - | - | $4.50M | - | - | - | $3.18M | - |
| CapEx | $103.6K | - | - | - | $201.5K | - | - | - | $213.0K | - |
| Free Cash Flow | ($8.34M) | - | - | - | ($4.04M) | - | - | - | ($3.01M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 25.8% | - | 31.3% | 26.4% | 17.7% | - | 7.9% | 15.4% | 7.3% | - |
| Operating margin | -173.4% | - | -95.6% | -88.1% | -190.0% | - | -125.1% | -203.5% | -709.9% | - |
| EBITDA margin | -160.5% | - | -87.5% | -77.3% | -170.1% | - | - | - | -635.2% | - |
| Net margin | -175.9% | - | -98.3% | -91.0% | -199.1% | - | -132.4% | -208.9% | -724.6% | - |
| Free cash flow margin | -251.7% | - | - | - | -180.4% | - | - | - | -586.7% | - |
| FCF / Net income | 1.43 | - | - | - | 0.91 | - | - | - | 0.81 | - |
| R&D / Revenue | 6.2% | - | 6.0% | 7.4% | 17.0% | - | - | - | - | - |
| SG&A / Revenue | 186.3% | - | 74.8% | 96.8% | 147.0% | - | 92.1% | 153.3% | 521.7% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -20.9% | - | -18.2% | -15.8% | -16.7% | - | -16.6% | -14.8% | -13.6% | - |
| Return on equity | -29.2% | - | -24.9% | -21.6% | -22.2% | - | -25.3% | -21.0% | -19.7% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 1.95 | 2.50 | 2.04 | 2.27 | 3.26 | 3.30 | 2.96 | 4.77 | 1.37 | 1.27 |
| Quick ratio | 0.27 | 1.08 | 0.91 | 0.70 | 1.63 | 1.67 | 0.91 | 1.93 | 0.54 | 0.77 |
| Cash ratio | 0.08 | 0.88 | 0.62 | 0.37 | 1.44 | 1.54 | 0.62 | 1.52 | 0.45 | 0.47 |
| Leverage | ||||||||||
| Debt / Equity | 0.17 | 0.12 | 0.15 | 0.14 | 0.16 | 0.30 | - | - | - | 0.29 |
| Debt / Assets | 0.12 | 0.09 | 0.11 | 0.11 | 0.12 | 0.20 | - | - | - | 0.20 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -62.2x | - | -34.5x | -28.2x | -34.4x | - | -17.0x | -20.8x | -29.4x | - |
| Equity multiplier | 1.40 | 1.34 | 1.37 | 1.36 | 1.32 | 1.48 | 1.52 | 1.42 | 1.44 | 1.43 |
| Liabilities / Assets | 0.28 | 0.26 | 0.27 | 0.27 | 0.25 | 0.32 | 0.34 | 0.30 | 0.31 | 0.30 |
| Efficiency | ||||||||||
| Asset turnover | 0.12 | - | 0.19 | 0.17 | 0.08 | - | 0.13 | 0.07 | 0.02 | - |
| Inventory turnover | 0.21 | - | 0.50 | 0.51 | 0.32 | - | 0.47 | 0.25 | 0.07 | - |
| Days sales outstanding | 53d | - | 37d | 26d | 11d | - | 39d | 118d | 111d | - |
| Days inventory outstanding | 1725d | - | 724d | 710d | 1133d | - | 779d | 1435d | 5023d | - |
| Days payable outstanding | 422d | - | 298d | 238d | 349d | - | - | - | - | - |
| Cash conversion cycle | 1356d | - | 463d | 498d | 795d | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 0.6x | - | 1.2x | 0.9x | 0.7x | - | 7.7x | 10.6x | 6.4x | - |
| P / S | 3.4x | - | 4.5x | 3.6x | 6.1x | - | 40.3x | 105.2x | 237.7x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 47.9% | - | 60.6% | 113.6% | 337.0% | - | 581.0% | 861.5% | 1505.8% | - |
| Revenue CAGR (3y) | 369.9% | - | 548.9% | 613.4% | 260.6% | - | 222.1% | 117.7% | 306.2% | - |
| Revenue CAGR (5y) | 236.7% | - | 112.2% | 128.4% | 122.6% | - | 249.9% | 30.0% | -2.2% | - |
| Gross profit growth (YoY) | 115.5% | - | 534.7% | 264.8% | 957.8% | - | 175.6% | 537.0% | 207.8% | - |
| Operating income growth (YoY) | -35.0% | - | -22.7% | 7.5% | -16.9% | - | 0.4% | -4.6% | -3.1% | - |
| Net income growth (YoY) | -30.7% | - | -19.2% | 6.9% | -20.1% | - | -4.7% | -5.7% | -5.4% | - |
| EPS growth (YoY) | 48.6% | - | 46.4% | 52.7% | 41.7% | - | -508.7% | -650.0% | -757.1% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -106.3% | - | - | - | -34.4% | - | - | - | 25.2% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -0.7% | 31.4% | 20.9% | -9.6% | 6.5% | -4.2% | -0.3% | -1.3% | -12.4% | -24.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$16.10M totalHard Tonneau Covers$15.65M · 97.2%
Soft Tonneau Covers$454.5K · 2.8%
Geographic
$15.65M totalUS$15.56M · 99.4%
Non Us$89.2K · 0.6%
Peer comparison
Same SIC group: Motor Vehicle Parts & Accessories
Comparing Worksport Ltd against the 5 most active filers in the same SIC group.