Business
Worksport ($WKSP) Announces Record-Breaking May Sales, Growth Surge Continues
West Seneca, New York--(Newsfile Corp. - June 20, 2024) - Worksport® Ltd. (NASDAQ: WKSP), a U.S.-based manufacturer and innovator of hybrid and clean energy
About this update from Worksport, Ltd.
[{"type":"text","content":"West Seneca, New York--(Newsfile Corp. - June 20, 2024) - Worksport® Ltd. (NASDAQ: WKSP), a U.S.-based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, is proud to announce its best sales month yet, achieving $739,417 in single-month sales for May 2024 (unaudited).\nMay 2024 sales were 332% higher than the monthly average of Q1 2024, underscoring the Company's rapidly growing sales trajectory. This significant increase in sales surpasses cumulative Q1 2024 sales of $512,637. Worksport attributes this impressive growth to its Made-in-America products, which began scaled production in January 2024.\nImpressive Sales Growth and Strategic Advances\nWorksport views this milestone as the beginning of its sales growth and is excited for the anticipated launch of three new products this year, presenting massive additional opportunities. Management maintains its position that the company's stock remains undervalued. The Company recently announced a $6 million to 8 million year-end 2024 revenue guidance, reflecting a 300-433% increase from year-end 2023 sales of approximately $1.53 million. This trend already surpasses previously issued guidance based on month-over-month sales \"run rate.\"\nThe Company believes May's record-breaking sales demonstrate the market's strong demand for Worksport's innovative products. In late March 2024, the Company launched B2C sales, which quickly gained traction and contributed to the substantial increase in sales. With over $6 million in strategically produced inventory, Worksport believes it is well-positioned to meet the rising demand and ensure swift turnover.\n\"Our record sales month is a testament to our team's relentless dedication and the market's recognition of our product value,\" said Steven Rossi, CEO of Worksport.\n\"Products like the SOLIS solar-integrated tonneau cover, and the COR portable energy system are anticipated to revolutionize the market. We are incredibly excited for their planned Alpha release this summer, which will further accelerate our growth trajectory. 2024 is only the beginning; With a large product pipeline and patent portfolio, there is so much to be excited about,\" continued Rossi.\n2024 and Beyond: A Promising Future\nRecently receiving the 'Innovator of the Year' award in Western New...