Dealer Math at $4.18-600 Stores Would Equal the Entire Market Cap in Gross Profit

Rumors persist that Worksport will confirm 600+ dealers at August’s summit. That network, at $115 K annual reorder potential per store, equates to $69 M topline. Plug in the current 23 % margin and you get $16 M gross profit-almost matching the $21 M valuation implied by today’s $4.18 price. And that’s just the dealer lane; it excludes fleet, OEM, and DTC sales.

Scaling to 600 stores won’t require more capex-Worksport’s automated NY plant has capacity for 250 K covers a year. Each incremental dealer simply raises utilization and pushes margins toward the 30 % goal. Compare that cash-on-cash dynamic with clean-tech peers trading at 4× sales while still importing panels.

Short-term traders may see only a pullback; long-term investors see a dealer flywheel whose gross profit potential already justifies current cap. If management drops even a pre-summit PR confirming 600 stores, price discovery could realign fast.