Worksport Shares Surge After 50% Production Jump, Margins Double; Retail Sees ‘Millionaire Maker’

Worksport shares rose on Monday after the tonneau cover maker said monthly production volumes had increased 50% since March and gross margins had more than doubled over the past five months.

The stock closed up 9.9% at $3.79 on Monday and rose another 0.8% in after-hours trading.

The U.S.-based manufacturer stated that it produced more units in May 2025 than during the entire third quarter of 2024, without adding proportional headcount. 

Gross margins increased from 11% in the fourth quarter (Q4) to over 23% in May, with the company projecting margins above 30% by the end of the year.

The company also reported dealer network growth, expanding from 94 dealers in Q4 2024 to over 550. 

Worksport stated that the increase in margins was driven by operating its factory at a higher capacity, selling more products directly to customers, and shifting its focus toward higher-end, branded offerings.

The company expects its revenue to surpass $20 million in 2025, up from $8.5 million in 2024 and $1.5 million in 2023. 

The company also noted that its domestic supply chain strategy limits exposure to tariffs introduced under President Trump’s “Big Beautiful Bill,” which targets imported goods.

A pilot project involving Worksport’s upcoming solar tonneau cover (SOLIS) and portable nano-grid system (COR) was recently selected by an unnamed “top 15” U.S. construction firm. The product launch is expected in Fall 2025.

On Stocktwits, retail sentiment for Worksport was ‘extremely bullish’ amid a 6,140% surge in 24-hour message volume.

One user said they were finally in the green on their Worksport shares, calling it a potential “millionaire maker” if the company succeeds in launching its heat pump.

Another user suggested that the recent production gains, margin expansion, and clean-tech rollout showed real progress. 

They pointed to the upcoming SOLIS and COR launch, a paid pilot with a major U.S. builder, and strong dealer growth as signs that the market was starting to recognize the company’s potential.

Worksport’s stock has declined 60.6% so far in 2025.

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