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Income Statement (USD)
| Q3 '25 | QoQ | |
|---|---|---|
| Revenue | 5M | 22.1% |
| Gross Profit | 1.6M | 45% |
| Cost of Revenue | 3.4M | 14% |
| Operating expense | 6.4M | 35.4% |
| Net Income | -4.9M | 32% |
| EBITDA | -4.8M | 51.5% |
Balance Sheet (USD)
| Q3 '25 | QoQ | |
|---|---|---|
| Total Assets | 28M | 16.9% |
| Total Liabilities | 7.3M | 16.1% |
| Total Equity | 20M | 17.2% |
| Shares Outstanding | 6.6M | 24.2% |
Cash Flow (USD)
| Q3 '25 | QoQ | |
|---|---|---|
| Cash from operations | -4.3M | 37.5% |
| Cash from financing | 7.1M | 1619.9% |
EPS
Financial Highlights for Worksport in Q3 '25
Worksport reported a revenue of 5M, which is a 22.1% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 1.6M, marking a 45% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 3.4M, a 14% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 6.4M, showing a 35.4% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was -4.9M, showing a -32% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was -4.8M, showing a -51.5% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
Worksport faced some challenges this quarter with a decline in one or more of the key metrics: revenue, gross profit, or net income. Higher operating expenses might indicate increased investments or potential inefficiencies. A decline in EBITDA signals potential operational challenges or increased costs.
