Worksport Ltd. reported a 31% gross margin in July, surpassing its year-end target. The U.S.-based manufacturer achieved record sales for four consecutive months, with July revenue reaching $1.71 million, the highest in company history, bringing annualized sales above $20 million. Gross margin has steadily increased over the past three quarters.

The company attributes the margin improvement to scaling its U.S. production base and achieving manufacturing efficiencies. CEO Steven Rossi emphasized the success of their American-made products in the marketplace. Worksport plans to launch new products in the second half of 2025 to support further growth, including the HD3 heavy-duty tonneau cover, SOLIS solar cover, and COR modular power system.

Worksport’s move to diversify its treasury holdings by purchasing Bitcoin and XRP in December 2024 has proven successful. The company views cryptocurrency reserves as complimentary to its long-term growth plans, with initial six-figure purchases secured. Worksport is exploring crypto payment options for e-commerce operations to lower transaction costs and expand customer reach.

In addition to its cryptocurrency strategy, Worksport is focusing on clean energy and modular power solutions as part of a broader transformation strategy. The company is committed to innovation and growth, with plans to continue expanding its product line and market presence. Worksport’s success reflects its commitment to quality, efficiency, and strategic financial management.

Read more at Yahoo Finance: Bitcoin, XRP Treasury Strategy Paying Off? Worksport Reports Record Sales