Worksport Ltd - Understand $wksp stock

$WKSP Market Cap: $16.31 Million

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Financial Snapshot

Revenue

$3.732M

TTM

Gross Margin

13.32%

TTM

Net Earnings

-$15.34M

TTM

Current Assets

$10.74M

Q2 2024

Current Liabilities

$2.254M

Q2 2024

Current Ratio

476.64%

Q2 2024

Total Assets

$27.19M

Q2 2024

Total Liabilities

$8.039M

Q2 2024

Book Value

$19.15M

Q2 2024

Cash

$3.426M

Q2 2024

P/E

-1.063

Oct 17, 2024 EST

Free Cash Flow

-$13.76M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Revenue	$1.530M	$116.5K	$303.8K	$346.1K	$1.926M	$481.5K	$408.7K	$361.1K	$651.7K	$590.0K	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change	1212.96%	-61.65%	-12.25%	-82.03%	300.07%	17.82%	13.18%	-44.59%	10.45%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Revenue	$1.530M	$116.5K	$303.8K	$346.1K	$1.926M	$481.5K	$408.7K	$361.1K	$651.7K	$590.0K	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Cost Of Revenue	$1.289M	$56.97K	$350.7K	$299.0K	$1.688M	$384.9K	$231.8K	$334.1K	$532.6K	$440.0K
Gross Profit	$240.5K	$59.54K	-$46.95K	$47.14K	$238.6K	$96.61K	$176.9K	$27.06K	$119.1K	$160.0K
Gross Profit Margin	15.72%	51.1%	-15.46%	13.62%	12.38%	20.06%	43.29%	7.49%	18.27%	27.12%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Selling, General & Admin	$14.98M	$7.425M	$7.511M	$1.030M	$804.3K	$1.223M	$1.953M	$381.6K	$3.372M	$240.0K	$20.00K	$20.00K	$20.00K	$10.00K	$10.00K	$30.00K	$10.00K	$0.00	$0.00	$0.00
YoY Change	101.75%	-1.14%	629.48%	28.01%	-34.26%	-37.35%	411.71%	-88.68%	1305.02%	1100.0%	0.0%	0.0%	100.0%	0.0%	-66.67%	200.0%
% of Gross Profit	6228.38%	12471.4%		2184.11%	337.15%	1266.36%	1103.7%	1410.27%	2831.51%	150.0%
Research & Development									$47.35K	$0.00
YoY Change
% of Gross Profit									39.76%	0.0%
Depreciation & Amortization	$1.110M	$484.1K	$211.7K	$26.96K	$11.44K	$1.520K	$1.290K	$1.000K	$890.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change	129.25%	128.62%	685.39%	135.66%	652.63%	17.83%	29.0%	12.36%
% of Gross Profit	461.41%	813.09%		57.19%	4.8%	1.57%	0.73%	3.7%	0.75%	0.0%
Operating Expenses	$14.98M	$12.83M	$7.511M	$1.030M	$804.3K	$1.223M	$1.953M	$381.6K	$3.552M	$620.0K	$20.00K	$20.00K	$20.00K	$10.00K	$10.00K	$30.00K	$10.00K	$0.00	$0.00	$0.00
YoY Change	16.73%	70.87%	629.48%	28.01%	-34.26%	-37.35%	411.71%	-89.26%	472.98%	3000.0%	0.0%	0.0%	100.0%	0.0%	-66.67%	200.0%
Operating Profit	-$14.74M	-$12.77M	-$7.558M	-$982.5K	-$565.7K	-$1.127M	-$1.776M	-$354.6K	-$3.433M	-$460.0K
YoY Change	15.39%	69.02%	669.26%	73.66%	-49.79%	-36.55%	400.86%	-89.67%	646.38%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Interest Expense	-$374.2K	$488.7K	-$295.4K	-$390.1K	-$44.08K	-$139.9K	-$648.0K	-$709.7K	-$41.38K	-$10.00K	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	-$30.00K	-$30.00K	-$30.00K	-$30.00K
YoY Change	-176.56%	-265.44%	-24.27%	784.87%	-68.48%	-78.42%	-8.69%	1615.01%	313.8%							-100.0%	0.0%	0.0%	0.0%	0.0%
% of Operating Profit
Other Income/Expense, Net	$184.6K	$239.3K	-$62.33K			-$420.00	-$48.24K	-$71.99K
YoY Change	-22.88%	-483.93%				-99.13%	-32.99%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Pretax Income	-$14.93M	-$12.53M	-$7.897M	-$1.188M	-$359.0K	-$1.763M	-$3.403M	-$1.136M	-$3.488M	-$480.0K	-$20.00K	-$20.00K	-$20.00K	-$10.00K	-$10.00K	$360.0K	-$40.00K	-$30.00K	-$30.00K	-$30.00K
YoY Change	19.1%	58.72%	564.95%	230.79%	-79.64%	-48.19%	199.51%	-67.42%	626.62%	2300.0%	0.0%	0.0%	100.0%	0.0%	-102.78%	-1000.0%	33.33%	0.0%	0.0%	0.0%
Income Tax									$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
% Of Pretax Income																0.0%
Net Earnings	-$14.93M	-$12.53M	-$7.897M	-$1.188M	-$359.0K	-$1.763M	-$3.403M	-$1.136M	-$3.488M	-$480.0K	-$20.00K	-$20.00K	-$20.00K	-$10.00K	-$10.00K	$360.0K	-$40.00K	-$30.00K	-$30.00K	-$30.00K
YoY Change	19.1%	58.72%	564.95%	230.79%	-79.64%	-48.19%	199.51%	-67.42%	626.62%	2300.0%	0.0%	0.0%	100.0%	0.0%	-102.78%	-1000.0%	33.33%	0.0%	0.0%	0.0%
Net Earnings / Revenue	-975.99%	-10758.97%	-2599.87%	-343.1%	-18.64%	-366.14%	-832.67%	-314.64%	-535.2%	-81.36%
Basic Earnings Per Share	-$0.84	-$0.72	-$0.69
Diluted Earnings Per Share	-$0.84	-$0.73	-$686.5K	-$434.3K	-$195.0K	-$1.578M	-$2.422M	-$2.016M	-$517.2K	-$457.20	-$1.00	-$1.00	-$1.00	-$0.50	-$0.50	$18.00	-$2.00	-$1.50	-$1.50	-$1.50

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004
Cash & Short-Term Investments	$3.366M	$14.62M	$28.57M	$1.108M	$11.99K	$25.32K	$66.96K	$0.00	$14.47K	$160.0K	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change	-76.98%	-48.82%	2478.72%	9139.45%	-52.65%	-62.19%		-100.0%	-90.96%
Cash & Equivalents	$3.366M	$14.62M	$28.57M	$1.108M	$11.99K	$25.32K	$66.96K	$0.00	$14.47K	$160.0K	$0.00	$0.00	$0.00	$0.00	$0.00
Short-Term Investments
Other Short-Term Assets	$1.497M	$2.034M	$4.716M	$245.5K	$60.74K	$124.1K	$411.7K	$116.3K	$4.610K	$10.00K
YoY Change	-26.4%	-56.86%	1820.54%	304.23%	-51.06%	-69.86%	254.12%	2422.13%	-53.9%
Inventory	$3.631M	$1.346M	$501.8K	$40.80K	$113.2K	$289.5K	$44.64K	$78.98K	$129.0K	$90.00K
Prepaid Expenses
Receivables	$463.1K	$62.60K	$62.68K	$122.8K	$67.80K	$61.88K	$189.5K	$88.92K	$104.5K	$30.00K
Other Receivables	$165.9K	$268.0K	$184.7K	$167.8K	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Total Short-Term Assets	$9.124M	$18.33M	$34.03M	$1.685M	$253.7K	$500.8K	$712.8K	$284.2K	$252.6K	$280.0K	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change	-50.23%	-46.13%	1919.99%	564.1%	-49.35%	-29.74%	150.86%	12.5%	-9.79%
Property, Plant & Equipment	$15.40M	$13.14M	$1.645M	$130.0K	$154.8K	$43.86K	$43.08K	$39.26K	$39.40K	$0.00
YoY Change	17.22%	698.89%	1164.9%	-16.02%	252.99%	1.81%	9.73%	-0.36%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$90.73K	$24.42K	$24.42K	$24.42K	$15.66K
YoY Change	271.54%	0.0%	0.0%	55.94%
Other Assets						$0.00	$136.5K
YoY Change						-100.0%
Total Long-Term Assets	$16.83M	$14.43M	$2.262M	$217.4K	$227.6K	$56.53K	$192.6K	$52.59K	$50.18K	$10.00K	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change	16.62%	537.99%	940.57%	-4.49%	302.65%	-70.66%	266.31%	4.8%	401.8%
Total Assets	$25.95M	$32.76M	$36.29M	$1.902M	$481.3K	$557.4K	$905.5K	$336.8K	$302.8K	$290.0K	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change
Accounts Payable	$1.451M	$2.028M	$1.145M	$971.7K	$969.3K	$401.8K	$0.00	$340.3K	$248.3K	$290.0K	$0.00	$0.00	$0.00	$0.00	$0.00	$100.0K	$80.00K	$80.00K	$80.00K	$80.00K
YoY Change	-28.45%	77.22%	17.79%	0.24%	141.26%		-100.0%	37.04%	-14.38%						-100.0%	25.0%	0.0%	0.0%	0.0%
Accrued Expenses	$413.2K	$387.3K	$212.9K	$23.88K	$22.00K										$0.00	$240.0K	$210.0K	$180.0K	$150.0K	$120.0K
YoY Change	6.69%	81.9%	791.67%	8.55%											-100.0%	14.29%	16.67%	20.0%	25.0%
Deferred Revenue
YoY Change
Short-Term Debt	$5.302M	$46.10K	$63.93K	$307.2K	$28.64K	$9.370K	$22.21K	$81.61K	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$270.0K	$270.0K	$270.0K	$270.0K	$270.0K
YoY Change	11401.5%	-27.89%	-79.19%	972.73%	205.66%	-57.81%	-72.79%								-100.0%	0.0%	0.0%	0.0%	0.0%
Long-Term Debt Due		$0.00	$263.2K	$367.1K	$267.9K	$287.4K	$275.8K	$106.0K	$41.46K
YoY Change		-100.0%	-28.29%	37.02%	-6.8%	4.2%	160.25%	155.64%
Total Short-Term Liabilities	$7.167M	$2.462M	$1.797M	$1.718M	$1.325M	$780.9K	$533.9K	$1.238M	$294.4K	$290.0K	$0.00	$0.00	$0.00	$0.00	$0.00	$630.0K	$590.0K	$560.0K	$520.0K	$490.0K
YoY Change	191.12%	37.01%	4.58%	29.7%	69.63%	46.26%	-56.85%	320.34%	1.52%						-100.0%	6.78%	5.36%	7.69%	6.12%
Long-Term Debt	$0.00	$5.300M	$0.00	$0.00	$0.00	$0.00	$0.00	$104.1K	$4.640K	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change	-100.0%						-100.0%	2143.1%
Other Long-Term Liabilities	$608.8K	$884.2K	$317.0K	$14.62K	$39.19K
YoY Change	-31.15%	178.92%	2068.19%	-62.69%
Total Long-Term Liabilities	$608.8K	$6.184M	$317.0K	$14.62K	$39.19K	$0.00	$0.00	$104.1K	$4.640K	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change	-90.16%	1850.9%	2068.19%	-62.69%			-100.0%	2143.1%
Total Liabilities	$7.775M	$8.646M	$2.114M	$1.733M	$1.364M	$780.9K	$533.9K	$1.342M	$299.1K	$290.0K	$0.00	$0.00	$0.00	$0.00	$0.00	$630.0K	$590.0K	$560.0K	$520.0K	$490.0K
YoY Change	-10.07%	309.02%	21.99%	27.04%	74.65%	46.26%	-60.2%	348.63%	3.12%						-100.0%	6.78%	5.36%	7.69%	6.12%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2013
Basic Shares Outstanding	17.69M shares	17.08M shares	11.50M shares	2.841M shares
Diluted Shares Outstanding	17.69M shares	17.08M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $16.305 Million

About Worksport Ltd

Worksport Ltd. designs, develops, manufactures, and owns the IP on a variety of tonneau covers, solar integrations, and non-Parasitic, hydrogen-based green energy solutions. The company is headquartered in West Seneca, New York and currently employs 70 full-time employees. The company went IPO on 2001-06-21. The firm protect its products through an intellectual property (IP) portfolio with patents and trademarks relating to, among other things, tonneau covers, solar integrated tonneau covers, portable power stations, NP (non-parasitic) hydrogen-based green energy systems, residential heating, and cooling systems (heat pumps), and electric vehicle-charging stations. Its soft tonneau cover offering consists of vinyl wrapped tri- and quad-fold tonneau covers. The soft tonneau cover line includes The Worksport SC3, The Worksport SC3 PRO, The Worksport SC4, and The Worksport SC4 PRO. Its hard tonneau cover line includes The Worksport TC3, The Worksport TC4, The Worksport AL3, The Worksport AL4.

Industry: Motor Vehicle Parts & Accessories Peers: Charging Robotics Inc Sypris Solutions Inc Motorcar Parts of America Inc Superior Industries International Inc STRATTEC SECURITY CORP