Overview

• U.S. hybrid and clean energy solutions maker's Q1 sales rose 47.9% yr/yr, with gross margin up to 26%

• Company expanded product launches and distribution, targeting operational cash-flow by 2026

• Q1 results driven by inventory build and launch investments for new products

Outlook

• Company expects 2026 growth driven by tonneau covers, NEXUS, and early SOLIS/COR sales

• Worksport does not project AetherLux revenue in 2026

• Company will provide annual, not quarterly, financial guidance going forward

Result Drivers

• PRODUCT LAUNCHES - Co said Q1 results reflected expanded product availability and launch-readiness investments for SOLIS, COR, and NEXUS covers

• INVENTORY BUILD - Management said higher inventory levels supported readiness for new product launches and ongoing tonneau cover demand

• SALES CHANNEL EXPANSION - Co attributed results to strengthened B2B and B2C sales channels and new distribution partnerships

Company press release: ID:nACSSq0cna

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Sales	Miss	$3.3 mln	$5.33 mln (2 Analysts)

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the business support services peer group is "buy"

• Wall Street's median 12-month price target for Worksport Ltd is $2.50, about 157.7% above its May 12 closing price of $0.97

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