Filing Flows › Worksport (WKSP) › Q4 2024
Worksport (WKSP) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Mar 27, 2025
Worksport (WKSP) reported revenue of $2.9M for the fourth quarter 2024 (Q4 2024), +249% from a year earlier and -6% from the quarter before. Operating margin was -137.0%, net loss $4.3M (146.9% of revenue).
Worksport, Q4 2024: revenue $2.9M (+249% year over year), operating margin -137.0%, net loss $4.3M, operating cash flow −$2.2M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.9M | -6% | +249% |
| Operating profit | −$4.0M | — | — |
| Net earnings | −$4.3M | — | — |
| Operating cash flow | −$2.2M | — | — |
What changed
Revenue was $2.9M in Q4 2024, up 249% year over year and down 6% from the previous quarter.
Gross margin was 11.1%, up 0.1 points from a year earlier. Operating costs exceeded revenue by $4.0M, an operating margin of -137.0%. Operating expenses grew 19% against revenue growth of 249%. The quarter ended with a net loss of $4.3M, wider than the previous quarter's $4.1M loss.
Operating cash flow was −$2.2M. Non-cash charges added back $733K of depreciation and amortization. Working capital and other items added $1.4M. Capital expenditures of $27K exceeded it, leaving free cash flow of −$2.2M.
Questions
What was Worksport's revenue in the fourth quarter 2024?
Worksport (WKSP) reported revenue of $2.9M for the fourth quarter 2024 (Q4 2024), +249% from a year earlier and -6% from the quarter before.
Was Worksport profitable in the fourth quarter 2024?
Operating loss was $4.0M (-137.0% of revenue) and net loss $4.3M.
Source: Worksport 10-K on SEC EDGAR.