Worksport Ltd. (WKSP): Business Model Canvas [Dec-2025 Updated]

You're digging into Worksport Ltd.'s (WKSP) strategy as they make a big pivot from just truck accessories to serious clean-tech. Honestly, the story isn't just about tonneau covers anymore; it's about powering the future with their SOLIS solar cover and the COR portable battery system. Based on late 2025 figures, they are backing this shift with an ISO-certified U.S. facility, a massive IP moat of over 170 patents, and a goal to hit at least $20 million in revenue this year. This canvas breaks down exactly how Worksport Ltd. is connecting their 550+ dealer network with new energy revenue streams-dive in to see the full picture.

Worksport Ltd. (WKSP) - Canvas Business Model: Key Partnerships

You're mapping out the strategic alliances Worksport Ltd. (WKSP) is relying on to scale its hardware and clean energy platforms into late 2025. These partnerships aren't just handshake agreements; they represent concrete supply chain and distribution commitments that directly impact revenue projections.

The distribution backbone is definitely showing impressive velocity. Worksport Ltd. (WKSP) has rapidly expanded its reach through brick-and-mortar channels. The network grew from just 94 dealers in Q4 2024 to over 550 locations by May 2025. To be fair, the September 2025 update shows that 266 of its 600+ national dealer partners were placing regular, repeat volume orders that month. This footprint is designed to capture a significant piece of the addressable market, which management has noted is around 17,000 dealers nationwide.

The financial potential tied to this distribution is substantial. Based on the June 2025 figures, the company anticipated over $21.5 million in annual repeatable revenue just from this expanded dealer network.

When it comes to the new energy systems, Worksport Ltd. (WKSP) has locked in critical technology and supply agreements. For the SOLIS solar-integrated tonneau cover, the company maintains an active partnership with Hyundai for potential integration. The SOLIS system itself is positioned to potentially add up to 2,050 miles of range for EV trucks.

For the COR portable energy system, the manufacturing side is supported by a significant commitment to a global battery manufacturer. Worksport Ltd. (WKSP) placed an opening purchase order exceeding $1 million to secure initial inventory, specifically for 900 COR units plus 600 additional batteries.

Furthermore, the safety and performance of the COR Battery Pack System are being enhanced through a strategic collaboration with KULR Technology Group, Inc.. This partnership centers on integrating KULR's patented thermal runaway protection technology into the COR batteries. They are also working on joint development, including optimizing the Battery Management System (BMS) with AI integration.

Here's a quick look at the scale of these key relationships as of late 2025:

Partnership Focus Area	Key Partner Entity	Quantifiable Metric / Scope
Distribution Footprint	National Dealer/Jobber Network	Over 550 locations (May 2025)
Active B2B Engagement	National Dealer Partners	266 seeing regular orders (September 2025)
SOLIS Solar Integration	Hyundai	Active partnership for SOLIS Solar cover
COR Battery Safety/Tech	KULR Technology Group, Inc.	Integration of patented thermal runaway protection technology
COR Initial Supply Order	Global Battery Manufacturer	Opening order exceeding $1 million for 900 COR units and 600 batteries

The nature of these alliances shows a clear focus on both scaling existing hardware sales and securing the supply chain for the new clean energy platform:

• The distribution network is projected to generate over $21.5 million in annual repeatable revenue.
• The dealer network grew 64% in Q1 2025, moving from 92 to 151 active dealers.
• The COR system development includes optimizing BMS requirements and refining cell configurations.
• The SOLIS system targets EV truck owners, with potential range addition up to 2,050 miles.

Finance: draft 13-week cash view by Friday.

Worksport Ltd. (WKSP) - Canvas Business Model: Key Activities

You're looking at the core actions Worksport Ltd. is focusing on to drive its 2025 and beyond strategy. It's a mix of manufacturing scale-up and pushing into new clean-tech territory. Here's the quick math on what they are actively doing.

Scaling U.S. tonneau cover production to 200 units per day is a major operational push. The company was targeting this rate by late Q3 2025 at its West Seneca facility, a significant jump from the approximately 50 daily units at the start of 2025. By July 2025, output averaged between 115-130 units/day, with a single-day record hitting 160 units. This scaling is directly tied to achieving better margins, with management noting that getting production hours per unit down from 3 to 5 hours to 2 to 4 hours provides meaningful dollar savings per unit.

The second core activity involves Research and development of clean-tech systems (SOLIS, COR, AetherLux). Worksport Ltd. doubled its R&D facilities in Ozark, Missouri, to support these larger initiatives. The SOLIS solar tonneau cover and the COR portable power system remain on track for a Fall 2025/Q4 2025 commercial launch. For 2025, the company projects $2-3 million in revenue from these two new product lines. Furthermore, the AetherLux heat pump, developed by the subsidiary Terravis Energy, is in early-stage commercial testing. This technology targets the $148B global heat pump market, with a launch anticipated in mid-2026.

Worksport Ltd. is also heavily involved in managing a portfolio of over 170 registered and pending patents. As of May 20, 2025, the global intellectual property portfolio included 19 issued utility patents and 37 pending utility patent applications, alongside various designs and trademarks. This robust IP position supports the development and protection of its core and clean-tech products.

Finally, the company is focused on expanding the B2B dealer and national distributor network. By September 2025, 266 of its 600+ national dealer partners were placing regular, volume orders, marking a 42% increase in active dealers in one quarter (up from 187 in June). Year-to-date through Q2 2025, Worksport had added 450+ new dealer accounts. At full activation, this network was estimated to support over $21.5 million in annual repeatable revenue, against an addressable market of over 17,000 dealers nationwide.

Here is a snapshot of some of the key operational metrics driving these activities:

Metric Category	Specific Data Point	Value/Amount
Production Scaling Target	Target Daily Production Rate (Late Q3 2025)	200 units per day
Production Baseline	Daily Production Rate (Start of 2025)	50 units per day
Intellectual Property	Total Registered and Pending IP Assets (May 2025)	Over 170
Clean-Tech Revenue Projection	Projected Revenue from SOLIS and COR (2025)	$2-3 million
B2B Network	Active Dealers Placing Volume Orders (September 2025)	266
B2B Network Potential	Estimated Annual Repeatable Revenue at Full Dealer Activation (Q2 2025)	~$21.5 million

The B2B revenue growth has been compounding at a 25% geometric average rate per month since the start of 2025. This operational momentum is also reflected in margin improvement, with gross margins climbing from 11% in Q4 2024 to a record 31% in July 2025.

Worksport Ltd. (WKSP) - Canvas Business Model: Key Resources

Worksport Ltd. relies on a foundation of physical assets, proprietary technology, and established quality systems to execute its business model.

The company's manufacturing base includes its ISO 9001:2015-certified manufacturing facility in West Seneca, NY, which officially achieved this prestigious global certification in May 2025. This facility is critical, as the company believes its current infrastructure can support over $50 million in annual output. Furthermore, Worksport Ltd. has invested in new high-throughput manufacturing equipment designed to integrate into this facility, with the goal of raising capacity to over $100 million in annual output.

The core of the offering is built around proprietary technology, specifically the SOLIS solar tonneau cover and the COR mobile battery technology. Worksport Ltd. has an active partnership with Hyundai for the SOLIS Solar cover. For 2025, the company is targeting $2 million to $3 million in revenue from the initial launch of the COR and SOLIS product lines.

Protection of these innovations is secured through a significant intellectual property portfolio. Worksport Ltd. holds over 170 registered and pending patents and trademarks. As of August 2025, this portfolio was noted to be nearly 200 issued registered and pending patents, designs, and trademarks.

Financial resources provide the necessary operational runway. As of the end of Q1 2025, Worksport Ltd. reported working capital of $7.94 million. Within that balance, cash availability stood at $5.1 million at the end of Q1 2025.

Here's a quick look at the operational and financial metrics supporting these resources:

Metric	Value/Period	Source Context
Working Capital	$7.94 million (End of Q1 2025)
Cash Availability	$5.1 million (End of Q1 2025)
Q1 2025 Net Sales	$2.24 million
Q2 2025 Net Sales	$4.1 million
Q3 2025 Net Sales	$5 million
Gross Margin (Target by Year-End 2025)	25% to 30%

The operational scaling is also evident in production metrics:

• Monthly production volume increased by 50% since March 2025.
• Record single-day output reached 160 units in July 2025.
• Dealer/jobber network grew from 94 to over 550.
• Total indebtedness reduced to $2.9 million by Q3 2025, down from $5.3 million at year-end 2024.

Worksport Ltd. (WKSP) - Canvas Business Model: Value Propositions

The Value Propositions for Worksport Ltd. (WKSP) center on integrating mobile power generation with truck accessories and delivering high-quality, domestically manufactured products.

Solar-Integrated Truck Bed Cover (SOLIS) and Modular Power System (COR)

The SOLIS solar-integrated truck bed cover and the COR modular, portable off-grid power system target a combined market opportunity projected to be over $13 billion.

These clean-tech offerings officially launched commercially on November 28, 2025. Management projected initial revenue from these systems to be between $2-3 million in 2025, with expectations for eight-figure annual revenue contributions in 2026.

The pricing structure for these new value propositions includes:

• COR Starter Kit (inverter + battery) MSRP: $949.
• SOLIS Cover starting MSRP: $1,999-$2,499.

High-Margin, Premium Tonneau Covers (AL4 and HD3)

Worksport Ltd. maintains a core business in tonneau covers, which is described as an existing 8-figure business. The premium AL4 tonneau cover has experienced strong dealer demand. The HD3 Heavy-Duty Tonneau cover entered production as of October 21, 2025, extending the lineup into commercial/fleet applications.

Operational scaling in the core business has been significant, with production reaching 2,499 units in July 2025, which more than doubled the March 2025 output of 1,234 units. This operational efficiency directly supports margin expansion.

Metric	Q3 2025 Value	Q2 2025 Value	Q4 2024 Baseline
Gross Margin	31.3%	26.4%	11%
Year-to-Date (YTD) Gross Margin	26.7%	N/A	10.5% (2024 YTD)
Target Gross Margin (Exiting 2025)	~35%+	N/A	N/A

U.S.-Based Manufacturing

Worksport Ltd. operates as a U.S.-based manufacturer, with its facility located in West Seneca, New York. This domestic manufacturing strategy is noted as working well, supporting gross margins north of 30%. The advanced facility is designed with the capacity to accommodate annual revenue streams ranging from $100 million to $300 million.

The company is projecting full-year 2025 revenues to be between $17 million and $21 million, depending on the timing of revenue recognition for the new clean-tech products. The company reported Q3 2025 net sales of $5.0 million.

Worksport Ltd. (WKSP) - Canvas Business Model: Customer Relationships

You're looking at how Worksport Ltd. engages with its buyers as they scale past the initial startup phase and push toward their $20 million full-year revenue guidance for 2025. The relationship strategy clearly splits between channel partners and direct buyers, supported by a formal structure for investors.

High-touch B2B relationships with national distributors and dealers

Worksport Ltd. focuses on building out a robust dealer network to move its core tonneau cover products. This isn't just about getting product on shelves; it's about securing committed partners who drive volume. As of September 2025, the active dealer network saw 266 of its 600+ national dealer partners placing regular, repeat, frequent volume orders. This represents a 42% increase in actively ordering dealers in just one quarter, up from 187 in June 2025. The network growth has been aggressive, expanding from 94 dealers in the fourth quarter of 2024 to over 550 by June 2025. This expansion included adding two major national distributors in the spring of 2025. The B2B segment, specifically non-private label sales, showed strong compounding growth, increasing by 38% and 60% in October and November 2024, respectively, over September 2024 levels. The B2B revenue growth rate is reported as a 25% monthly geometric rate since early 2025. The entire network, when fully activated, is estimated to be capable of generating approximately $21.5M in annual repeatable revenue, excluding the D2C channel and any new dealer additions.

Here's a look at the B2B channel traction:

Metric	Value as of Late 2025 Data Point	Reference Period/Date
Total Active Dealer Network Size	600+	September 2025
Dealers with Regular Volume Orders	266	September 2025
Monthly Geometric B2B Revenue Growth Rate	25%	Since early 2025
Dealer Network Size (Previous Quarter End)	187 (Active Volume)	June 2025
Estimated Annual Repeatable B2B Revenue (Full Activation)	$21.5M	As of Q2 2025 data

E-commerce platform for direct-to-consumer (D2C) sales

Worksport Ltd. also cultivates a direct relationship with end-users through its e-commerce platform. This channel is key for driving adoption of newer, higher-margin products like the SOLIS and COR systems, which saw commercial launches targeted for late Q4 2025. While the B2B channel is the current volume driver, the D2C segment showed significant month-over-month acceleration in late 2024. Specifically, B2C sales grew by 16% in October and 51% in November 2024 compared to September 2024. The company reported achieving a historic online sales milestone with record performance during the Black Friday period in November 2025. The overall focus on branded products, which includes D2C, is credited with helping gross margins improve from 17.7% in Q1 2025 to 26.0% in Q2 2025, with management targeting margins to exceed 30% by year-end 2025.

Dedicated investor relations for transparency and outreach

For the financial community, Worksport Ltd. maintains a formal structure to ensure transparency. You can reach their Investor Relations team directly via phone at 1 (888) 554-8789 -128 or by email at investors@worksport.com. The company directs stakeholders to its dedicated website, investors.worksport.com, for updates, including signing up for the newsletter. The CEO, Steven Rossi, leads live webcasts to discuss financial results, such as the Q2 2025 earnings call scheduled for mid-August. Institutional interest shows movement; for instance, in Q1 2025, 1 institutional investor added shares, while 21 decreased positions. A notable Q1 2025 move was ARMISTICE CAPITAL, LLC adding 360,501 shares. The company's strategy is clearly laid out, projecting $20 million in full-year 2025 revenue and targeting operating cash-flow breakeven by Q4 2025 / Q1 2026.

Investor engagement metrics as of mid-2025 filings:

• Q2 2025 Unaudited Revenue: $4.1 million.
• Full-Year 2025 Revenue Projection: $20 million minimum.
• Gross Margin Target by Year-End 2025: Exceed 30%.
• Institutional Holders Adding Shares (Q1 2025): 1.

Worksport Ltd. (WKSP) - Canvas Business Model: Channels

You're looking at how Worksport Ltd. gets its products, primarily the tonneau covers, into the hands of customers as of late 2025. The strategy is clearly multi-pronged, balancing direct sales with a rapidly expanding wholesale footprint.

Direct-to-Consumer (D2C) sales via the Worksport e-commerce website.

The company made its flagship AL4 Premium Tonneau Cover available directly to you through worksport.com starting in February 2025. This D2C channel is important for capturing higher margins on premium products. To give you some context on the channel mix, online sales actually accounted for a significant 58% of Worksport Ltd.'s total revenue in 2024, a massive jump from just 7% in 2023.

Business-to-Business (B2B) sales through a network of over 550 dealers.

The B2B side is seeing explosive growth. As of June 2025, Worksport Ltd.'s active dealer network has expanded to over 550 locations across the United States. Honestly, that is a nearly 6x increase since the start of 2025. To show the ramp-up, the network stood at 94 dealers at the end of Q4 2024, and by the end of Q1 2025, it had already reached 151 active dealers, which was a 64% increase from the 92 dealers at year-end 2024. When this network is fully activated, management projects it could generate over $21.5 million in annual repeatable revenue. The momentum is clear; for example, March 2025 B2B sales grew nearly 70% compared to February 2025.

Here's a quick look at the dealer network expansion data:

Metric	Value/Amount	Date/Period
Dealer Network Size (Latest Reported)	Over 550 locations	June 2025
Dealer Network Size (Start of Q1 2025)	151 active dealers	End of Q1 2025
Dealer Network Size (Year-End 2024)	92 active dealers	Year-End 2024
Projected Annual Repeatable Revenue (Full Activation)	$21.5 million	2025 Projection

Major national retail auto chains and large distributors.

The expansion to 550+ dealers is being fueled by strategic agreements with larger players. Worksport Ltd. added two major national distributors in the spring of 2025. One prior partnership with Patriot Auto Group alone added over 200 dealers. Furthermore, a more recent agreement brought access to approximately 250 additional dealer accounts, helping accelerate penetration into high-value retail markets.

Exploring new U.S. distribution facilities to lower shipping costs.

While the search results don't give a specific dollar amount for a new facility investment, the strategy is clearly focused on domestic operations to manage costs and quality. The company is emphasizing its 'Made in USA' advantage, which helps mitigate tariff risks. The overall 2025 revenue guidance is set between $20 million and $25 million, with management projecting gross margins to trend toward 30% by year-end 2025, reflecting expected scale benefits and continued cost optimizations.

The path to profitability is tied to these distribution efficiencies:

• Gross margin target for year-end 2025 is 25% to 30%.
• Q2 2025 gross margin reached 26.4%.
• The company expects to achieve cash-flow positivity towards year-end 2025.

Finance: draft Q3 2025 logistics cost analysis by next Tuesday.

Worksport Ltd. (WKSP) - Canvas Business Model: Customer Segments

You're looking at Worksport Ltd.'s customer base as of late 2025, and it's clearly bifurcated between traditional truck accessory buyers and the emerging clean-tech power user. The company's strategy is to serve both with distinct, yet sometimes overlapping, product lines.

Light truck owners seeking premium, functional tonneau covers. This is the foundational segment, the bread and butter that has driven Worksport Ltd.'s recent financial acceleration. The company's focus on U.S.-made products, often using over 90% domestic content, appeals to this core buyer. The success in this segment is evident in the Q3 2025 net sales hitting $5.0 million, with the gross margin expanding to 31.3%. The company is projecting full-year 2025 revenue of at least $20 million, largely supported by these core cover sales.

Overlanding, camping, and off-grid power enthusiasts. This segment is the primary target for the newer, higher-margin clean-tech offerings. The SOLIS solar-integrated tonneau cover and the COR portable power system, which launched commercially on November 28, 2025, are aimed squarely here. Worksport Ltd. sees this as a massive opportunity, positioning these products to tap into a combined market estimated at $13 billion. The initial limited rollout of the COR units and batteries represented a near-term revenue opportunity of approximately $2.5 million.

Commercial and fleet vehicle operators (HD3 cover target). This group requires durability that goes beyond the standard consumer product, which is why Worksport Ltd. developed the HD3 heavy-duty tonneau cover. Production for the HD3 started in October 2025, with sales to B2B dealers beginning in November 2025. This product is priced starting at $869 and is designed for maximum durability for commercial use. Capturing this segment is key to Worksport Ltd.'s channel diversification strategy, moving beyond purely direct-to-consumer (D2C) sales.

Auto parts jobbers, dealers, and large national retailers. This channel is critical for scaling the traditional tonneau cover business and distributing the new HD3 product. The dealer network has seen dramatic growth, expanding from 94 in Q4 2024 to over 550 by mid-2025. The D2C channel also showed explosive growth, with a single-day online sales record on November 28, 2025, exceeding $200,000, a 400% increase over the prior year's Black Friday sales of about $40,000. The highest online sales week recorded generated $665,000 in e-commerce revenue alone. Worksport Ltd. is setting its sights high for the next year, targeting profitability in 2026 with a revenue goal exceeding $45 million, which will require strong performance across all distribution channels.

Here's a quick look at the product/segment metrics as of the end of Q3 2025:

Segment Focus	Key Product	Pricing/Opportunity	Revenue Contribution Context
Light Truck Owners (D2C/B2B)	Premium Tonneau Covers (e.g., AL4)	Drove Q3 2025 sales of $5.0M	Full-year 2025 revenue guidance of $\ge$$20M
Commercial/Fleet	HD3 Heavy-Duty Cover	Starting at $869	B2B dealer sales began November 2025
Off-Grid/Clean Tech Enthusiasts	SOLIS & COR Systems	Near-term revenue opportunity of $\sim$$2.5M	Targeting a combined $13B market
Dealers/Jobbers/Retailers	All Products	Network grew from 94 to over 550 partners	Expected to drive 2026 revenue of $27M-$35M in tonneau sales alone

The customer base is clearly segmenting based on need:

• Light truck owners seeking premium, functional tonneau covers.
• Overlanding, camping, and off-grid power enthusiasts.
• Commercial and fleet vehicle operators (HD3 cover target).
• Auto parts jobbers, dealers, and large national retailers.

The D2C channel, which includes the first two segments, is showing strong adoption, with weekly online revenue hitting $665,000 in one recent week. Finance: draft 13-week cash view by Friday.

Worksport Ltd. (WKSP) - Canvas Business Model: Cost Structure

You're looking at the cost side of the Worksport Ltd. equation as they push toward 2026 profitability. The structure is clearly shifting as they absorb investments for their new clean-tech lines while optimizing the core tonneau business.

The foundation of the cost structure remains the Cost of Goods Sold (COGS) for the established tonneau covers, which is seeing significant efficiency gains. For the third quarter of 2025, Worksport Ltd. reported a 31.3% gross margin on these sales. With Q3 2025 net sales at $5.015 million and gross profit at $1.60 million, the implied COGS for the quarter was approximately $3.415 million.

A major cost component involves the investment in R&D and final tooling necessary to bring the SOLIS solar-integrated tonneau cover and the COR battery system to market. The commercial launch for these products was set for Fall 2025, with initial revenue anticipated in 2025. The capital outlay for this transition is visible in the investing cash outflow for Q3 2025, which totaled $485,000, primarily represented by spending on machinery, tooling, and tangible assets.

Operating expenses are a key area where management is demonstrating discipline. In Q3 2025, total operating expenses hit $6.4 million. However, the goal here is operating leverage; revenue grew nearly 60% year-over-year in Q3 2025, while core expenses grew only about 20%. This leverage is critical because the company reported an operating loss of $4.8 million and a net loss of $4.9 million for Q3 2025, which the company directly attributes to these growth investments.

The scaling costs for the U.S. manufacturing facility in West Seneca are baked into these figures. Worksport Ltd. is onshoring production from China to its 222,000 sq ft facility in West Seneca, New York, to manufacture both conventional and new products. The company also expanded its footprint by opening a new leased facility in Missouri specifically for assembling the SOLIS cover, integrating imported components with U.S. assembly and testing. These scaling investments are the bridge to their 2026 profitability target.

Here's a quick look at some of the key cost and margin metrics from the Q3 2025 period:

Metric	Amount / Percentage
Q3 2025 Revenue	$5.015 million
Q3 2025 Gross Profit	$1.60 million
Q3 2025 Gross Margin	31.3%
Implied Q3 COGS	$3.415 million
Q3 2025 Operating Expenses	$6.4 million
Q3 2025 Operating Loss	$4.8 million
Q3 2025 Investing Cash Outflow (Tooling/Assets)	$485,000
Projected 2025 Year-End Gross Margin Target	~35%+

The company is making these upfront expenditures to support future revenue streams, with management targeting an ARR (Annual Run Rate) of $20.4 million based on Q3 performance, and projecting $27 million to $35 million in U.S. tonneau sales for 2026, plus incremental revenue from SOLIS & COR.

You can see the cost structure is currently characterized by:

• Significant fixed and variable costs absorbed by the West Seneca manufacturing ramp.
• Capital expenditure for tooling supporting the SOLIS and COR launch.
• Operating expenses that are intentionally growing slower than revenue to achieve operating leverage.
• A commitment to higher-value product mix to drive gross margin expansion.

Finance: draft 13-week cash view by Friday.

Worksport Ltd. (WKSP) - Canvas Business Model: Revenue Streams

You're looking at how Worksport Ltd. brings in money as of late 2025. The revenue streams are clearly segmented between their established truck accessories and the newer clean energy products.

The foundation of the revenue remains the Sales of traditional and premium tonneau covers. This includes the flagship AL4 cover, which started shipping in late Q1 2025, and the upcoming HD3 cover, which is aimed at commercial and fleet customers, slated for a Q3 launch. E-commerce sales were significant, accounting for over 50% of total unit volumes in Q2 2025, with monthly sales hitting peaks like $1.6 million in June 2025. This core business is supported by a rapidly growing B2B channel.

The B2B component, fueled by B2B sales to dealers and distributors, is a major growth engine. The active dealer network saw dramatic expansion, jumping from 94 in Q4 2024 to over 550 accounts by mid-2025, including the addition of two national distributors in Q2 2025. Management estimates this current network alone can support over $21.5 million in repeatable annual revenue.

The newer, high-margin vertical comes from the clean energy products. Revenue from the launch of SOLIS and COR, the solar tonneau cover and portable energy system, is projected at $2-3 million in late 2025, marking a distinct revenue stream from the core business. These products are expected to open up new markets, with management targeting 8-figure annual revenue potential in 2026.

Overall, Worksport Ltd. is targeting total 2025 revenue of at least $20 million. The company reaffirmed this guidance, with some internal models projecting figures closer to $21.3 million or even a full-year guidance range of $20 million to $25 million based on Q1 performance and Q2 momentum.

Here's a quick look at how the revenue is stacking up against the full-year goal:

Revenue Component	Metric / Projection	Data Point / Amount
Full Year 2025 Target	Minimum Revenue Goal	$20 million
Full Year 2025 Projection	Analyst Modeled Revenue	$21.3 million
SOLIS & COR Contribution (2025)	Projected New Revenue	$2-3 million
Core Business Capacity	Dealer Network Supported Revenue	$21.5 million
Q2 2025 Actual Revenue	Quarterly Net Sales	$4.1 million
Q3 2025 Estimated Revenue	Consensus Estimate	$5.58 million

The revenue generation strategy relies on several key drivers:

• Sales of traditional and premium tonneau covers (AL4, HD3).
• Revenue from the launch of SOLIS and COR, projected at $2-3 million in late 2025.
• B2B sales to dealers and distributors, fueling growth.
• Targeting total 2025 revenue of at least $20 million.

The gross margin profile is also a key part of the revenue quality; Q2 2025 gross margin hit 26.4%, up from 17.7% in Q1 2025, with a year-end target of 30%.