Company: WKSP
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022113
Chunk: 2

Company: Worksport Ltd
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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2025  
    2024  
    2025  
    2024 

    Three
    Months ended September 30,  
    Nine
    Months ended September 30, 

    2025  
    2024  
    2025  
    2024 

    Net
    sales 
    $5,013,872  
    $3,122,359  
    $11,358,835  
    $5,556,535 
  
    Cost
    of sales 
     3,445,088  
     2,875,186  
     8,311,718  
     4,975,277 
  
    Gross
    profit 
     1,568,784  
     247,173  
     3,047,117  
     581,258 

    Operating
    expenses 

    Research
    and development 
     301,095  
     396,446  
     975,529  
     1,811,911 
  
    General
    and administrative 
     2,950,100  
     2,478,809  
     8,409,789  
     6,684,048 
  
    Sales
    and marketing 
     2,362,195  
     661,238  
     4,537,299  
     1,206,807 
  
    Professional
    fees 
     748,656  
     621,728  
     1,812,190  
     2,332,069 
  
    (Gain)
    loss on foreign exchange 
     (491) 
     (5,832) 
     (4,129) 
     1,853 
  
    Total
    operating expenses 
     6,361,555  
     4,152,389  
     15,730,678  
     12,036,688 
  
    Loss
    from operations 
     (4,792,771) 
     (3,905,216) 
     (12,683,561) 
     (11,455,430)

    Other
    income (expense) 

    Interest
    expense 
     (138,887)