Worksport oznámil rekordní červencové objednávky za zhruba 2,52 mil. USD a tržby 2,22 mil. USD, což je růst o 6,7 % meziměsíčně. Hrubá marže zůstala třetí měsíc v řadě nad 30 %.
Monthly net sales increased in every successive month of 2026 through July, averaging approximately 12.9% month-over-month growth for 5 months, while preliminary gross margin remained above 30% for a third consecutive month.
July product orders reached approximately $2.52 million**, while preliminary net sales from fulfilled orders reached $2.22 million and approximately $0.30 million remained in backlog;
WEST SENECA, NY / ACCESS Newswire / August 26, 2026 / Worksport Ltd. (NASDAQ:WKSP) ("Worksport" or the "Company"), a U.S.-based innovator and manufacturer of hybrid and clean energy solutions primarily for the light truck, overlanding, and global consumer goods market, today announced preliminary and unaudited July 2026 results. Gross product orders reached approximately $2.52 million, representing a new Company monthly record. Preliminary net sales reached approximately $2.22 million, up 6.7% from June and 60.6% from March, while approximately $0.3 million of firm product orders remained in backlog status at month-end. This places the Company's Annualized Revenue Rate at $30M which the Company anticipates will continue rising.
Preliminary July 2026 Highlights
Record product orders: Approximately $2.52 million
Preliminary net sales: Approximately $2.22 million, up 6.7% from June
Month-end backlog: Approximately $0.30 million
Preliminary gross profit: Approximately $0.68 million
Preliminary gross margin: 30.8%, marking a third consecutive month above 30.0%
Monthly Net Sales Rise Without Interruption
Monthly net sales progressed from approximately $1.38M in March to $2.22M in July, with several consecutive month over month increases.
Gross Profit Shows Stability at Elevated Levels
July gross margin remained above 30% for the third consecutive month. The Company believes this trend reflects a materially stronger gross-profit base compared with the beginning of 2026, supported by continued growth in monthly sales volumes.
"July's performance shows that the growth platform we have built is producing more consistent commercial momentum," said Steven Rossi, Founder and Chief Executive Officer of Worksport. "A record order month is important, but our larger objective is to build a repeatable business that turns growing demand into stronger gross profit and better cash performance. We are focused on fulfilling orders efficiently, converting inventory and protecting the margin progress achieved this year. That discipline is how we intend to create durable growth and long-term shareholder value."
Preliminary Results and Order Definition
The July results contained in this release are preliminary and unaudited and remain subject to the completion of the Company's external financial reporting close and review process.
**Reference to product orders is an operating metric representing the aggregate value of product orders completed during July. It is not equivalent to net sales recognized under U.S. generally accepted accounting principles. Backlog represents firm orders not yet fulfilled and will be reflected in net sales only after the applicable revenue-recognition requirements are satisfied.
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About Worksport
Worksport Ltd. (Nasdaq:WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions. Worksport has an active partnership with Hyundai for the SOLIS Solar cover. Additionally, Worksport's hard-folding cover, designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers including the electric vehicle (EV) sector. Worksport seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations with its proprietary solar solutions, mobile energy storage systems (ESS), and Cold-Climate Heat Pump (CCHP) technology. Terravis Energy's website is terravisenergy.com.
Connect with Worksport
Please follow the Company's social media accounts on X (previously Twitter), Facebook, LinkedIn, YouTube, and Instagram, the links of which are links to external third-party websites, as well as sign up for the Company's newsletters at investors.worksport.com.
Social Media Disclaimer
The Company does not endorse, ensure the accuracy of, or accept any responsibility for any content on these third-party websites other than content published by the Company. Investors and others should note that the Company announces material financial information to our investors using our investor relations website, press releases, Securities and Exchange Commission (SEC") filings, and public conference calls and webcasts. The Company also uses social media to announce Company news and other information. The Company encourages investors, the media, and others to review the information the Company publishes on social media. The Company does not selectively disclose material non-public information on social media. If there is any significant financial information, the Company will release it broadly to the public through a press release or SEC filing prior to publishing it on social media.
Forward-Looking Statements
The information contained herein may contain "forward‐looking statements." Forward‐looking statements reflect the current view about future events. When used in this press release, the words "anticipate," "believe," "estimate," "scheduled," "expect," "future," "intend," "plan," "project," "envisioned," "should," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. These statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial situation may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) supply chain delays; (ii) acceptance of our products by consumers; (iii) delays in or nonacceptance by third parties to sell our products; and (iv) competition from other producers of similar products. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC, including, without limitation, our latest Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's web site at www.sec.gov. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. The forward-looking statements made in this press release are made only as of the date of this press release, and the Company undertakes no obligation to update them to reflect subsequent events or circumstances.
Worksport zveřejnil výsledky hospodaření za 2. čtvrtletí 2026 a podal zprávu o provozním pokroku a strategických prioritách. Současně podal i formulář 10-Q za období končící 30. června 2026.
Steven Rossi
Founder, Chairman, President, CEO & Secretary
Good afternoon, everyone, and thank you for joining Worksport's Second Quarter 2026 Earnings Call. I'm Steve Rossi, Founder and Chief Executive Officer. With me is Jennifer Kartychak, our Chief Financial Officer. Jennifer was appointed CFO effective May 1, following Michael Johnson's resignation at the end of April.
She has served as our Vice President of Finance since January and started working with the company in 2023. So this is the continuation rather than a transition. This is our second earnings call on the role, and I'm glad to have her here today with me.
Our quarterly report on Form 10-Q for the period ended June 30, 2026 was filed today and will be available on the SEC's website and on our Investor Relations website along with these remarks and accompanying presentation. Our remarks will follow the slides.
We will open the line for questions. Let me start with some safe harbor statements. During this call, we'll make forward-looking statements, including statements regarding our expectations for financial and business trends, our market position, our go-to-market growth initiatives and our product programs and their expected benefits.
These statements are predictions based on current beliefs, expectations and assumptions because they relate to the future, they are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control.
Actual results may differ materially and you should not place undue reliance on that these
Worksport ve 2. čtvrtletí zvýšil výnosy na rekordních 5,23 mil. USD a snížil čistou ztrátu o 32 % na 3,97 mil. USD. Provozní cash burn klesl o 58 % na 3,44 mil. USD.
Earnings Gross profit increased 93% from Q1 as operating expenses declined 17%, demonstrating strong sequential operating performance
Q2 net sales reached a record $5.23 million, up 27% year-over-year and 58% sequentially
WEST SENECA, NY / ACCESS Newswire / August 11, 2026 / Worksport Ltd. (NASDAQ:WKSP) ("Worksport" or the "Company"), a U.S.-based innovator and manufacturer of hybrid and clean energy solutions primarily for the light truck, overlanding, and global consumer goods markets, today announced financial results for the second quarter ended June 30, 2026, delivering record quarterly net sales of $5.23 million, an increase of 27.4% year-over-year and 57.9% from the first quarter of 2026. In addition, gross profit increased 52.5% year-over-year and 93.2% sequentially to $1.65 million, while gross margin expanded to approximately 31.5%, compared with 26.4% in Q2 2025 and 25.8% in Q1 2026.
The quarter also demonstrated meaningful sequential improvement below the gross-profit line. Operating expenses declined approximately 17% from Q1, operating loss narrowed approximately 34%, and net loss improved approximately 32% sequentially to $3.97 million, compared with $5.83 million in Q1 2026.
Q2 represents an important transition from the investment and launch-readiness activity highlighted in Worksport's first-quarter results toward revenue conversion and operating leverage. Based on the Company's reported first-half and first-quarter cash-flow figures, net cash used in operating activities during Q2 was approximately $3.44 million, compared with $8.23 million in Q1, representing an approximately 58% sequential reduction in operating cash use.
Q2 2026 Financial Highlights
Record net sales of $5.23 million, up 27.4% from $4.10 million in Q2 2025 and up 57.9% from $3.31 million in Q1 2026.
Gross profit increased 52.5% year-over-year to $1.65 million, compared with $1.08 million in Q2 2025, and increased 93.2% sequentially from $854,000 in Q1 2026.
Gross margin expanded to approximately 31.5%, compared with approximately 26.4% in Q2 2025, an improvement of approximately 520 basis points. Gross margin increased approximately 580 basis points sequentially from Q1.
Operating expenses were $5.47 million, approximately 17% below Q1 2026. Research and development expense declined approximately 30% year-over-year as development work on certain tonneau-cover platforms progressed into production and commercialization.
Operating loss narrowed to $3.82 million, approximately 34% lower than the $5.74 million operating loss reported in Q1 2026.
Net loss was $3.97 million, or $0.33 per share, compared with $5.83 million, or $0.54 per share, in Q1 2026. Q2 2025 net loss was $3.73 million, or $0.71 per share.
Q2 operating cash use was approximately $3.44 million on a derived basis, approximately 58% lower than Q1 operating cash use of $8.23 million.
First-half net sales increased 34.6% (year-over-year) to $8.54 million, while first-half gross profit increased 69.4% to $2.50 million.
Worksport ended Q2 with $10.96 million in working capital and $12.07 million in inventory, positioning management's operational focus on continued inventory conversion and sales growth.
Worksport's full Q2 2026 Form 10-Q is accessible here:
https://www.nasdaq.com/market-activity/stocks/wksp/sec-filings
Why Q2 Matters: From Investment to Operating Leverage
Worksport entered Q2 after a first quarter in which the Company funded inventory, product launches, marketing and sales-channel expansion. Q2 began showing the conversion of those investments in the reported financial results: revenue increased nearly 58% sequentially, gross profit nearly doubled, operating expenses declined and net loss narrowed by approximately one-third. Q1 cash used to support operations was elevated at $8.23 million as Worksport built inventory for SOLIS, COR, NEXUS and its broader product portfolio.
The composition of Q2 revenue also points to a broader sales platform. Worksport reported higher tonneau-cover sales through dealers and distributors. Management believes the expansion of dealer and distributor channels can create a more diversified and repeatable revenue base alongside its direct-to-consumer business.
Gross-margin expansion remained a central driver of the quarter. Worksport believes the improvement can be attributed primarily to higher production volumes and improved overhead absorption, which can offset increases in certain material, component and landed costs.
CEO Commentary
"We believe Q2 is the clearest evidence yet that Worksport's operating model is beginning to scale," said Steven Rossi, Founder and Chief Executive Officer of Worksport. "We delivered record quarterly revenue, nearly doubled gross profit from Q1, expanded gross margin by almost 600 basis points sequentially, reduced operating expenses and narrowed our net loss from operations by approximately one-third. We believe those are important movements because they show that additional revenue is beginning to translate into substantially greater gross-profit contribution."
Rossi continued, "Our focus now is disciplined execution. We have built-up raw materials and finished good inventory to accompany our expanding product lineup and broadened distribution footprint. The objective is to convert those assets into higher-volume, repeatable sales while protecting the margin progress we have earned and continuing to reduce operating cash consumption. We believe Q2 moved Worksport materially closer to the operating profile required to support positive cash flow from operations, and we target that within the remainder of 2026"
"Our shareholders should expect us to stay focused on the fundamentals that matter: revenue growth, gross-profit growth, disciplined spending, inventory conversion and scalable distribution. We believe the business entering the second half of 2026 is operating from a materially stronger foundation than the business that entered the year, and our priority is to turn that progress into long-term shareholder value."
Second Quarter 2026 Conference Call and Investor Town Hall
Worksport's management will host its Q2 2026 earnings conference call and live webcast on August 11, 2026, at 4:30 p.m. Eastern Time, following the close of the U.S. financial markets. An investor town hall featuring management commentary and shareholder Q&A will immediately follow the earnings call.
Investors, analysts, media and other interested parties are invited to participate. The earnings-call transcript, presentation materials and audio replay are expected to be made available on the Worksport investor-relations website following the event.
Worksport Q2 2026 Report: Balance Sheet & Income Statement
Below is a summary excerpt from the Financial Statements section of ‘Worksport 10-Q, August 11, 2026' covering the fiscal period ending June 30, 2026. Investors are encouraged to review the complete 10-Q filing and the accompanying Prepared Remarks, both linked above, for full context and analysis.
Worksport Ltd.
Consolidated Balance Sheets
June 30, 2026 and 2025
Condensed Consolidated Balance Sheets
(Unaudited)
June 30,
December 31,
2026
2025
(Unaudited)
ASSETS
Current assets
Cash and cash equivalents
$
1,160,158
$
5,945,894
Accounts receivable, net
1,007,329
503,971
Other receivable
312,419
278,027
Inventories, net (Note 3)
12,066,416
9,530,671
Prepaid expenses and other (Note 6)
344,025
530,861
Total current assets
14,890,347
16,789,424
Property and equipment, net (Note 4)
11,946,423
12,688,488
Operating lease right-of-use assets (Note 11)
217,677
272,598
Other noncurrent assets
367,079
67,033
Intangible assets, net (Note 5)
665,340
896,531
Total assets
$
28,086,866
$
30,714,074
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Accounts payable
$
2,427,642
$
3,107,085
Accrued liabilities and other
808,893
1,400,730
Accrued compensation
299,149
420,210
Long-term debt, current portion (Note 12)
281,094
1,686,809
Lease liability, current portion (Note 11)
112,482
113,012
Total current liabilities
3,929,260
6,727,846
Lease liability, excluding current portion (Note 11)
105,195
159,526
Long-term debt, excluding current portion (Note 12)
4,976,157
950,481
Total liabilities
9,010,612
7,837,853
Shareholders' equity
Series A, B and Series C preferred stock, $0.001 par value, 10,000,000 shares authorized, 100 Series A, 0 Series B, and 427,612 and 427,812 Series C issued and outstanding, respectively (Note 7)
428
428
Common stock, $0.001 par value, 45,000,000 shares authorized, 15,282,595 and 9,814,665 shares issued and outstanding, respectively (Note 7)
15,282
9,814
Additional paid-in capital
110,652,344
101,357,686
Share subscriptions receivable
(1,577
)
(55,684
)
Share subscriptions payable
2,140,104
5,446,347
Accumulated deficit
(93,721,747
)
(83,873,790
)
Cumulative translation adjustment
(8,580
)
(8,580
)
Total shareholders' equity
19,076,254
22,876,221
Total liabilities and shareholders' equity
$
28,086,866
$
30,714,074
The accompanying notes form an integral part of these condensed consolidated financial statements. Please click here to download the full 10-Q.
Worksport Ltd.
Consolidated Statements of Operations and Comprehensive Loss
June 30, 2026 and 2025
Condensed Consolidated Statements of Operations and Comprehensive Loss
(Unaudited)
Three Months ended
Six Months ended
June 30,
June 30,
2026
2025
2026
2025
Net sales
$
5,229,660
$
4,104,958
$
8,542,460
$
6,344,963
Cost of sales
3,579,724
3,022,846
6,038,577
4,866,630
Gross profit
1,649,936
1,082,112
2,503,883
1,478,333
Operating expenses
Research and development
214,183
304,833
419,516
674,434
General and administrative
3,548,867
3,091,548
7,788,021
6,506,369
Sales and marketing
1,707,194
1,305,355
3,863,061
2,175,104
(Gain) loss on foreign exchange
(1,755
)
(1,993
)
(3,986
)
(3,638
)
Total operating expenses
5,468,489
4,699,743
12,066,612
9,352,269
Loss from operations
(3,818,553
)
(3,617,631
)
(9,562,729
)
(7,873,936
)
Other income (expense)
Interest expense
(146,837
)
(128,156
)
(239,220
)
(323,594
)
Other
87
11,303
8,125
2,582
Total other income (expense)
(146,750
)
(116,853
)
(231,095
)
(321,012
)
Net loss
$
(3,965,303
)
$
(3,734,484
)
$
(9,793,824
)
$
(8,194,948
)
Loss per share (basic and diluted) (Note 13)
$
(0.33
)
$
(0.71
)
$
(0.87
)
$
(1.71
)
Weighted average number of shares (basic and diluted)
11,858,684
5,285,705
11,318,444
4,778,426
The accompanying notes form an integral part of these condensed consolidated financial statements. Please click here to download the full 10-Q.
The link below will take you to the Worksport Investor Relations Website. After 4:30pm ET, you may download the accompanying earnings call prepared remark and deck there; investors are highly encouraged to review this material:
Q2 2026- Earnings Call Prepared Remarks - Download Here
Stay tuned for more information and join our mailing list to stay up to date with the latest: Join Worksport's Newsletter
Connect with Worksport Chief Executive Officer, Steven Rossi
Steven Rossi X (Twitter)
Steven Rossi LinkedIn
About Worksport
Worksport Ltd. (Nasdaq:WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions. Worksport has an active partnership with Hyundai for the SOLIS Solar cover. Additionally, Worksport's hard-folding cover, designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers including the electric vehicle (EV) sector. Worksport seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations with its proprietary solar solutions, mobile energy storage systems (ESS), and Cold-Climate Heat Pump (CCHP) technology. Terravis Energy's website is terravisenergy.com.
Connect with Worksport
Please follow the Company's social media accounts on X (previously Twitter), Facebook, LinkedIn, YouTube, and Instagram, the links of which are links to external third-party websites, as well as sign up for the Company's newsletters at investors.worksport.com.
Social Media Disclaimer
The Company does not endorse, ensure the accuracy of, or accept any responsibility for any content on these third-party websites other than content published by the Company. Investors and others should note that the Company announces material financial information to our investors using our investor relations website, press releases, Securities and Exchange Commission (SEC") filings, and public conference calls and webcasts. The Company also uses social media to announce Company news and other information. The Company encourages investors, the media, and others to review the information the Company publishes on social media. The Company does not selectively disclose material non-public information on social media. If there is any significant financial information, the Company will release it broadly to the public through a press release or SEC filing prior to publishing it on social media.
Forward-Looking Statements
The information contained herein may contain "forward‐looking statements." Forward‐looking statements reflect the current view about future events. When used in this press release, the words "anticipate," "believe," "estimate," "scheduled," "expect," "future," "intend," "plan," "project," "envisioned," "should," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. These statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial situation may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) supply chain delays; (ii) acceptance of our products by consumers; (iii) delays in or nonacceptance by third parties to sell our products; and (iv) competition from other producers of similar products. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC, including, without limitation, our latest Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's web site at www.sec.gov. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. The forward-looking statements made in this press release are made only as of the date of this press release, and the Company undertakes no obligation to update them to reflect subsequent events or circumstances.
Worksport za duben až červen zvýšil čisté tržby o 46 % na 2,08 mil. USD, zatímco hrubý zisk vzrostl o 132 % na 720 tis. USD. Hrubá marže se stabilně dostala nad 35 %.
Net sales increase 46%, while gross profit materially outpaces top-line growth, Company materially closer to cash-flow breakeven.
WEST SENECA, NY / ACCESS Newswire / July 22, 2026 / Worksport Ltd. (NASDAQ:WKSP) ("Worksport" or the "Company"), a U.S.-based innovator and manufacturer of hybrid and clean energy solutions primarily for the light truck, overlanding, and global consumer goods markets, today reported preliminary and unaudited monthly financial performance demonstrating a meaningful improvement in the quality of its revenue growth. From April through June 2026, net sales increased approximately 46%, while gross profit increased approximately 132%, reflecting substantial gross-margin expansion and increasing gross-profit contribution from the Company's growing sales base.
Preliminary gross profit increased from approximately $310,000 in April to $720,000 in June, while net sales increased from approximately $1.43 million to $2.08 million. The Company has achieved a sustainable gross-margin running rate above 35% and expects to maintain or increase from this level.
Preliminary Monthly Financial Highlights
June net sales of approximately $2.08 million, up approximately 46% from April and 21% from May
June gross profit of approximately $720,000, up approximately 132% from April and 15% from May
Gross margin run rate now stable above 35% compared to 26% in Q1 2026.
Monthly gross profit increased by approximately $410,000 between April and June
Preliminary and unaudited
April 2026
May 2026
June 2026
April-to-June Growth
Net sales
$1.43 million
$1.73 million
$2.08 million
46%
Gross profit
$0.31 million
$0.63 million
$0.72 million
132%
Gross Profit Growth Materially Outpaces Net Sales
Worksport's preliminary monthly results demonstrate that the Company is generating substantially more gross profit as its sales base expands, alongside growing product adoption.
Between April and June, monthly net sales increased by approximately $650,000, while monthly gross profit increased by approximately $410,000. This performance reflects both continued top-line growth and a significant improvement in the amount of gross profit generated from each dollar of revenue.
June also demonstrated continued momentum from May. Net sales increased approximately 35% month over month, while gross profit increased approximately 9%, with gross profit continuing to outpace top-line growth.
The Company believes the combination of higher sales, improving gross margins and gross profit growing materially faster than revenue represents continued progress in the underlying economics of its business. The Company believes that a continuation of this trend will steer the Company into operational cash flow positivity, and then profitability, in the near-term.
"These preliminary results demonstrate that Worksport's growth is becoming increasingly productive," said Steven Rossi, Chief Executive Officer of Worksport. "From April to June, net sales increased approximately 46%, while gross profit increased approximately 132%. The business generated more sales, but more importantly, it generated substantially more gross profit from that growing revenue base."
"Our gross margin has improved by almost 1000 BPS from Q1 2026, even as monthly sales continued to expand. This is the type of operating progression we have been working toward: stronger sales, improving margins and gross profit growth that materially outpaces the top line. We believe the growth will only continue"
"Our focus remains on sustaining this momentum, continuing to scale our automotive business and converting our expanding gross-profit base into continued progress toward operational cash-flow positivity."
Strengthening Financial Contribution
Worksport believes this improvement in financial condition strengthens the value of continued revenue growth and positions the Company to generate greater financial contribution as it scales its existing automotive product portfolio and advances its broader product and commercialization strategy.
The Company expects to provide complete financial results for the second quarter of 2026 in its applicable filing with the U.S. Securities and Exchange Commission by about August 11, 2026.
The figures contained in this release are preliminary and unaudited, have not been reviewed by the Company's independent registered public accounting firm and remain subject to quarter-end accounting procedures and potential adjustments. Actual results may differ from the preliminary figures presented herein.
Stay tuned for more information and join our mailing list to stay up to date with the latest: Join Worksport's Newsletter
Connect with Worksport Chief Executive Officer, Steven Rossi
Steven Rossi X (Twitter)
Steven Rossi LinkedIn
About Worksport
Worksport Ltd. (Nasdaq:WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions. Worksport's hard-folding cover, designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers including the electric vehicle (EV) sector. Worksport seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations with its proprietary solar solutions, mobile energy storage systems (ESS), and Cold-Climate Heat Pump (CCHP) technology. Terravis Energy's website is terravisenergy.com.
Connect with Worksport
Please follow the Company's social media accounts on X (previously Twitter), Facebook, LinkedIn, YouTube, and Instagram, the links of which are links to external third-party websites, as well as sign up for the Company's newsletters at investors.worksport.com.
Social Media Disclaimer
The Company does not endorse, ensure the accuracy of, or accept any responsibility for any content on these third-party websites other than content published by the Company. Investors and others should note that the Company announces material financial information to our investors using our investor relations website, press releases, Securities and Exchange Commission ("SEC") filings, and public conference calls and webcasts. The Company also uses social media to announce Company news and other information. The Company encourages investors, the media, and others to review the information the Company publishes on social media. The Company does not selectively disclose material non-public information on social media. If there is any significant financial information, the Company will release it broadly to the public through a press release or SEC filing prior to publishing it on social media.
Forward-Looking Statements
The information contained herein may contain "forward‐looking statements." Forward‐looking statements reflect the current view about future events. When used in this press release, the words "anticipate," "believe," "estimate," "scheduled," "expect," "future," "intend," "plan," "project," "envisioned," "should," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. These statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial situation may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) supply chain delays; (ii) acceptance of our products by consumers; (iii) delays in or nonacceptance by third parties to sell our products; (iv) competition from other producers of similar products; and (v) with respect to any potential additional financing transactions, there can be no assurance that any such transactions will be consummated, and any such transactions would be subject to, among other things, market conditions, available shelf registration capacity, applicable regulatory requirements (including Nasdaq listing rules), negotiation and execution of definitive documentation on mutually acceptable terms, and approval by the Company's Board of Directors. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC, including, without limitation, our latest Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's web site at www.sec.gov. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. The forward-looking statements made in this press release are made only as of the date of this press release, and the Company undertakes no obligation to update them to reflect subsequent events or circumstances.
Worksport oznámil, že jeho akcie uzavřely nad 1 USD a firma je podle něj zpět v souladu s požadavkem Nasdaq na minimální cenu. Zároveň svolává investorské setkání, kde chce mluvit o růstu marže, distribuce a cíli 12měsíčního ročního run-rate tržeb přes 36 milionů USD.
CEO Shares Letter to Shareholders, inviting them to attend the townhall; Management to discuss Nasdaq bid price compliance, 35% May gross margin, Meyer Distributing, $36M+ revenue run-rate target, direct investments, insider alignment, NEXUS traction, Terravis Energy, and the Company's 2026 execution plan.
The live event will provide shareholders an opportunity to hear directly from CEO Steven Rossi and ask questions about Worksport's business momentum and long-term value creation strategy.
WEST SENECA, NY / ACCESS Newswire / June 25, 2026 / Worksport Ltd. (NASDAQ:WKSP) ("Worksport" or the "Company"), a U.S.-based innovator and manufacturer of hybrid and clean energy solutions primarily for the light truck, overlanding, and global consumer goods markets, today announced that its common stock closed above $1.00 on June 24, 2026, which the Company believes keeps Worksport in full compliance with Nasdaq's minimum bid price requirement, and represents a 75% increase in 5 trading days.
The Company also announced that it will host a live investor town hall on Tuesday, June 30, 2026, at 12:05 p.m. Eastern Time. The town hall will provide shareholders, prospective investors, analysts, media, and other interested parties an opportunity to hear directly from Founder and Chief Executive Officer Steven Rossi regarding Worksport's recent business developments, current execution priorities, and the Company's strategy for the second half of 2026 and beyond.
Link to register for townhall: Register to WKSP's June Townhall Here
Worksport encourages shareholders, prospective investors, analysts, media, and other interested parties to attend.
Management believes the upcoming town hall comes at an important moment for Worksport. Over the past several weeks, the Company has announced multiple developments that are believed to support a stronger operating foundation, improved market positioning, and an increasingly visible path toward operational cash flow positivity:
Operational progress: Worksport announced preliminary May 2026 gross margin of approximately 35%, up ~660 basis points from 28.4% in Q1 2026, reflecting continued manufacturing efficiency, pricing discipline, and operating leverage, despite domestic inflation of aluminum, a core component of its tonneau covers.
Distribution expansion: The Company announced Meyer Distributing as a new national distribution partner, expanding Worksport's access to a broader base of dealers, installers, and aftermarket resellers across North America.
Revenue opportunity: Worksport is projecting a $36+ million 12-month annual run rate target supported by B2C activity, expanding B2B distribution, new product launches, and channel ramp-up. Current 2026 revenue run-rate is growing healthily, at $21+ million.
Premium-priced capital: The Company recently completed two direct investments, including one priced at a premium to then-recent trading levels, while also receiving expressed investor interest in evaluating additional financing of up to $10 million, subject to customary conditions.
Insider alignment: On June 9, 2026, Founder and CEO Steven Rossi elected to receive additional Company shares in lieu of cash compensation, the second time this year, reinforcing his stated confidence in Worksport's long-term value creation opportunity.
CEO Letter to Shareholders
"Over the last several weeks, Worksport has released some of the most important updates in our Company's recent history," said Steven Rossi. "We achieved a preliminary 35% gross margin in May, setting a new record, added Meyer Distributing as a major multi-national master distribution partner, outlined a $36+ million annualized revenue opportunity, secured premium-priced capital, and saw our shares close back above $1.00 on June 24. We believe these are meaningful milestones, and shareholders deserve a clear explanation of how they connect."
Mr. Rossi continued, "Nasdaq compliance is important, but our deeper focus remains on building the business behind the ticker. Worksport today is operating from a much stronger foundation than it was one year ago: margins have improved, distribution is expanding, B2C demand remains active, B2B channels are growing, and our newly launched NEXUS tonneau cover is contributing to a broader commercial strategy. We believe these are the ingredients that can support our stated goal of achieving initial operational cash-flow positivity within 2026."
"This town hall is intended to be direct, transparent, and useful," Mr. Rossi added. "It is the place for shareholders to ask questions, hear from management, and better understand what we believe is ahead for Worksport. We intend to discuss our revenue trajectory, margin growth, distributor onboarding, NEXUS traction, SOLIS and COR progress, OE-focused opportunities, and how we are evaluating potential business development opportunities and accretive strategic synergies that could strengthen the Company's platform over time."
Mr. Rossi concluded, "Worksport's objective is clear: grow revenue, expand margins, convert inventory, strengthen distribution, continue advancing our intellectual property-backed product portfolio, and build long-term shareholder value. We believe Worksport has entered an important inflection point, and we look forward to discussing that future with shareholders on June 30."
Terravis Energy and Broader Product Platform
In addition to Worksport's core tonneau cover, SOLIS solar cover, and COR portable power strategies, the Company continues to actively develop its Terravis Energy subsidiary. Terravis remains focused on highly efficient heating and cooling technologies, including its patented ZeroFrost™ heat-pump technology. Management currently expects product certification during the second half of 2026, subject to testing, certification timing, and other customary development considerations.
Worksport believes its broader product platform, spanning truck accessories, solar integrations, portable energy systems, and clean heating and cooling solutions, provides multiple long-term growth pathways. The Company expects to address these opportunities during the June 30 town hall.
Town Hall Details
Date: Tuesday, June 30, 2026
Time: 12:05 p.m. ET - 1:00 p.m. ET
Format: Live Zoom town hall with CEO commentary and investor Q&A
Registration: Click here to register for Worksport's June 2026 Townhall
Replay: Recording expected to be available on investors.worksport.com
Investors may submit questions in advance by emailing [email protected]. Management expects to answer selected questions during the live session, subject to time availability and public disclosure considerations.
Worksport encourages shareholders, prospective investors, analysts, media, and other interested parties to attend.
Stay tuned for more information and join our mailing list to stay up to date with the latest: Join Worksport's Newsletter
Connect with Worksport Chief Executive Officer, Steven Rossi
Steven Rossi X (Twitter)
Steven Rossi LinkedIn
About Worksport
Worksport Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions. Worksport's hard-folding cover, designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers including the electric vehicle (EV) sector. Worksport seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations with its proprietary solar solutions, mobile energy storage systems (ESS), and Cold-Climate Heat Pump (CCHP) technology. Terravis Energy's website is terravisenergy.com.
Connect with Worksport
Please follow the Company's social media accounts on X (previously Twitter), Facebook, LinkedIn, YouTube, and Instagram, the links of which are links to external third-party websites, as well as sign up for the Company's newsletters at investors.worksport.com.
Social Media Disclaimer
The Company does not endorse, ensure the accuracy of, or accept any responsibility for any content on these third-party websites other than content published by the Company. Investors and others should note that the Company announces material financial information to our investors using our investor relations website, press releases, Securities and Exchange Commission ("SEC") filings, and public conference calls and webcasts. The Company also uses social media to announce Company news and other information. The Company encourages investors, the media, and others to review the information the Company publishes on social media. The Company does not selectively disclose material non-public information on social media. If there is any significant financial information, the Company will release it broadly to the public through a press release or SEC filing prior to publishing it on social media.
Forward-Looking Statements
The information contained herein may contain "forward‐looking statements." Forward‐looking statements reflect the current view about future events. When used in this press release, the words "anticipate," "believe," "estimate," "scheduled," "expect," "future," "intend," "plan," "project," "envisioned," "should," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. These statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial situation may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) supply chain delays; (ii) acceptance of our products by consumers; (iii) delays in or nonacceptance by third parties to sell our products; and (iv) competition from other producers of similar products. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC, including, without limitation, our latest Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's web site at www.sec.gov. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. The forward-looking statements made in this press release are made only as of the date of this press release, and the Company undertakes no obligation to update them to reflect subsequent events or circumstances.
Worksport získal přímou investici za 1,20 USD na akcii, tedy přibližně dvojnásobek nedávné tržní ceny. Investor zároveň projevil zájem o další financování až do výše 10 milionů USD.
Major Investor Completes a Direct Investment Priced at $1.20 per Share - a Premium of More Than 100% to Recent Trading Levels
The Investor Has Also Expressed Interest in Evaluating Up to $10 Million in Potential Additional Financing as Worksport Advances Its 2026 Growth Plan
WEST SENECA, NY / ACCESS Newswire / June 18, 2026 / Worksport Ltd. (NASDAQ:WKSP) ("Worksport" or the "Company"), a U.S.-based innovator and manufacturer of hybrid and clean energy solutions primarily for the light truck, overlanding, and global consumer goods markets, today announced a premium-priced direct investment from a specialized private investment firm based in Jericho, New York.
The direct investment was priced at $1.20 per unit (each unit consisting of one share of common stock and one warrant), representing approximately a 100% premium to Worksport's recent trading price of $0.5983, underscoring the investor's confidence in the Company's outlook and long-term growth potential. The financing also includes warrants exercisable at $1.50 per share, further aligning the transaction with potential future upside in Worksport's common stock.
The investor has also expressed interest in evaluating additional financing transactions with Worksport of up to $10 million, subject to market conditions, available registration capacity, regulatory requirements, definitive documentation, and Company approval. There can be no assurance that any additional financing will be completed, and any such transaction would be subject to negotiation and execution of definitive agreements on terms acceptable to both parties.
Premium-Priced Capital Reflects Outside Confidence During a Key Execution Year
Worksport believes the structure of this investment is notable because it was priced at a substantial premium to the Company's recent market price. Management views the premium pricing, warrant structure, and additional financing interest as a constructive signal as Worksport continues executing against its 2026 commercial growth plan.
The investment was completed through a registered direct offering pursuant to the Company's effective shelf registration statement on Form S-3. The initial investment amount was $250,000. D. Boral Capital LLC acted as exclusive placement agent for the offering. Investors may review the terms and conditions of the offering and the warrants in the Company's Current Report on Form 8-K which will be filed with the SEC.
This announcement follows several recent Worksport milestones. The Company reported Q1 2026 net sales of $3.3 million, up 47.9% year over year, and gross profit of approximately $854,000, up 115.5% year over year, with gross margin improving to 26%. Worksport has also reiterated its target of reaching initial operational cash-flow positivity within 2026, driven by a quarterly revenue goal of $9M with 35% gross margins.
Worksport's recent growth plan is supported by several active business drivers, including expanded tonneau cover sales, the launch of the Company's new Nexus tonneau cover, early commercialization of SOLIS and COR, and broader B2B and B2C distribution growth. The Company also recently announced a distribution relationship with Tri-State Enterprises, projected by Worksport to become a seven-figure annual account.
In addition to its core tonneau and clean-energy product strategy, Worksport recently announced that its subsidiary, Terravis Energy, secured a newly issued U.S. patent for its ZeroFrost™ heat-pump technology. Management believes this patent strengthens the Company's long-term intellectual property position while preserving potential upside beyond Worksport's core 2026 revenue drivers.
CEO Commentary
"We believe this premium-priced investment sends an important message at a pivotal time for Worksport," said Steven Rossi, Founder and Chief Executive Officer of Worksport. "Our shares have been trading at levels that we believe do not reflect the commercial progress, product portfolio, manufacturing platform, and revenue trajectory we are building. A direct investment priced at $1.20 per share, paired with $1.50 warrants and interest in evaluating up to $10 million in total financing, represents a strong vote of confidence in our direction."
Mr. Rossi continued, "The dollar amount of this initial investment is not the headline. The headline is that Worksport secured capital at a substantial premium to the market while continuing to attract interest from investors who recognize the scale of the opportunity ahead. We are focused on converting our inventory, expanding distribution, increasing sales velocity, launching high-margin products, and executing toward operational cash flow positivity. Our objective remains clear: build a stronger company, create long-term shareholder value, and position Worksport for sustained growth."
Stay tuned for more information and join our mailing list to stay up to date with the latest: Join Worksport's Newsletter
Connect with Worksport Chief Executive Officer, Steven Rossi
Steven Rossi X (Twitter)
Steven Rossi LinkedIn
About Worksport
Worksport Ltd. (NASDAQ:WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions. Worksport's hard-folding cover, designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers including the electric vehicle (EV) sector. Worksport seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations with its proprietary solar solutions, mobile energy storage systems (ESS), and Cold-Climate Heat Pump (CCHP) technology. Terravis Energy's website is terravisenergy.com.
Connect With Worksport
Please follow the Company's social media accounts on X (previously Twitter), Facebook, LinkedIn, YouTube, and Instagram, the links of which are links to external third-party websites, as well as sign up for the Company's newsletters at investors.worksport.com.
Social Media Disclaimer
The Company does not endorse, ensure the accuracy of, or accept any responsibility for any content on these third-party websites other than content published by the Company. Investors and others should note that the Company announces material financial information to our investors using our investor relations website, press releases, Securities and Exchange Commission ("SEC") filings, and public conference calls and webcasts. The Company also uses social media to announce Company news and other information. The Company encourages investors, the media, and others to review the information the Company publishes on social media. The Company does not selectively disclose material non-public information on social media. If there is any significant financial information, the Company will release it broadly to the public through a press release or SEC filing prior to publishing it on social media.
Forward-Looking Statements
The information contained herein may contain "forward‐looking statements." Forward‐looking statements reflect the current view about future events. When used in this press release, the words "anticipate," "believe," "estimate," "scheduled," "expect," "future," "intend," "plan," "project," "envisioned," "should," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. These statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial situation may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) supply chain delays; (ii) acceptance of our products by consumers; (iii) delays in or nonacceptance by third parties to sell our products; (iv) competition from other producers of similar products; and (v) with respect to any potential additional financing transactions, there can be no assurance that any such transactions will be consummated, and any such transactions would be subject to, among other things, market conditions, available shelf registration capacity, applicable regulatory requirements (including Nasdaq listing rules), negotiation and execution of definitive documentation on mutually acceptable terms, and approval by the Company's Board of Directors. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC, including, without limitation, our latest Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's web site at www.sec.gov. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. The forward-looking statements made in this press release are made only as of the date of this press release, and the Company undertakes no obligation to update them to reflect subsequent events or circumstances.
Worksport oznámil rekordní hrubou marži kolem 35 % v květnu a nového distribučního partnera Meyer Distributing. Firma zároveň cílí na více než 36 mil. USD roční příležitosti v příjmech.
Company announces three major operating inflections: preliminary May record breaking gross margin of approximately 35% (up 660 Basis Points), a new Meyer Distributing relationship, and a $36M+ 12-month revenue opportunity supported by accelerating B2C and B2B growth.
The announcement follows last week's premium-priced direct investment and highlights the distribution scale, margin expansion, and revenue drivers that management believes lead the Company's path toward near-term operational cash-flow positivity.
WEST SENECA, NY / ACCESS Newswire / June 22, 2026 / Worksport Ltd. (NASDAQ:WKSP) ("Worksport" or the "Company"), a U.S.-based innovator and manufacturer of hybrid and clean energy solutions primarily for the light truck, overlanding, and global consumer goods markets, today announced three new commercial and operational developments that management believes mark a potential inflection point in Worksport's 2026 growth plan.
The Company announced that it has secured Meyer Distributing as a new national distribution partner, achieved 35% gross margin in May 2026 (up from 28.4% in Q1 2026), and is now targeting a $36 million+ 12-month revenue opportunity supported by increasing B2C activity, expanding B2B distribution, newly launched products, and improving operating leverage.
The announcement follows Worksport's recently completed premium-priced direct investment, which the Company believes reflected investor confidence in its strategic direction. With annualized revenue currently tracking above $20 million and momentum continuing to build during the second quarter, management believes the Company is entering the second half of 2026 with a significantly stronger commercial and operating foundation.
Preliminary May Gross Margin Reaches Approximately 35%
Worksport today announced that it achieved approximately 35% gross margin in May 2026, representing a new record margin metric for the company, based on preliminary unaudited internal results. This represents continued margin improvement from approximately 11% gross margin in December 2024 and approximately 30% gross margin in December 2025. Gross margin has increased despite U.S. aluminum prices rising approximately 50% in two years. Management believes any future decline in aluminum prices could provide additional gross margin expansion. .
Management believes the improvement reflects continued progress in production efficiency, cost discipline, pricing strength, and operating scale. The margin milestone is important because, at higher gross margins, each incremental dollar of revenue can contribute more meaningfully toward covering fixed operating costs.
Management estimates that, assuming an approximate 35% gross margin level, Worksport would need to generate roughly $9 million in quarterly revenue to achieve operational cash-flow positivity. Worksport continues to target initial operational cash-flow positivity within 2026, supported by increased sales velocity and gross margins, expanding B2B distribution, ongoing B2C demand, and execution across its product portfolio.
New Meyer Distributing Relationship Expands Worksport's B2B Reach
Worksport also announced that it has secured Meyer Distributing as its first multinational distribution partner and has received an initial purchase order for Worksport tonneau covers. Meyer Distributing is one of North America's leading automotive aftermarket wholesale distribution networks, serving dealers across the United States, Canada, and international markets with over 3.5 million sq. ft. of warehouse space. Meyer was also recognized by the Specialty Equipment Market Association (SEMA) as Warehouse Distributor of the Year in 2010, 2015, and 2017.
For Worksport, the Meyer relationship represents more than an initial order. It marks a significant B2B milestone that gives the Company access to a larger base of recurring orders from thousands of dealers, installers, and aftermarket resellers across USA and Canada, at a time when Worksport is expanding production, launching new products, and targeting meaningful revenue growth in 2026.
The Company believes the addition of Meyer-combined with recently announced Tri-State Enterprises traction and existing wholesale and dealer relationships including Patriot Auto, and Worksport's expanding dealer network-strengthens its commercial platform and supports a larger recurring revenue opportunity as Worksport products move through established aftermarket sales channels.
$36M+ Annualized Revenue Opportunity Supported by B2C and B2B Growth
Worksport's B2C activity is currently tracking near approximately $1 million per month, or approximately $12 million annualized. Separately, B2B sales were recently tracking near approximately $0.7 million per month, or approximately $8.4 million annualized.
With the addition of Meyer Distributing, recent Tri-State momentum, existing channel relationships, and continued dealer network expansion, management believes B2B annualized revenue potential can expand toward $24 million or more over the next 12 months following activation and ramp-up of these relationships.
When combined with current B2C activity, this supports a total annualized revenue opportunity of approximately $36 million or more. Management believes this opportunity aligns with Worksport's previously stated near-term cash-flow positivity goals and reflects a more scalable commercial base than the Company had entering the year.
CEO Commentary
"We believe Worksport is entering a very different phase of the business," said Steven Rossi, Founder and Chief Executive Officer of Worksport. "Last week's investment reflected external confidence in our direction. Today's update demonstrates an operating foundation: expanding distribution, improving gross margins, compelling B2C activity, and a clear revenue path toward near-term operational cash-flow positivity."
Mr. Rossi added, "The Meyer relationship is an important step for our B2B strategy. Meyer is a respected name in automotive aftermarket distribution, and we believe its reach can help Worksport products move through a much larger dealer and installer network over time. Combined with Tri-State, Patriot Auto, AllPro, our expanding dealer base, and our new Nexus cover, we believe the commercial architecture needed to scale is coming together."
Mr. Rossi concluded, "At approximately 35% gross margin, Worksport looks very different than it did a year ago. Each additional dollar of revenue has more potential impact. Our objective remains clear: increase sales velocity, expand margins, convert inventory, grow distribution, and pursue initial operational cash-flow positivity within 2026. We believe the inflection point we have been working toward is beginning to take shape."
Worksport intends to continue updating shareholders as B2B onboarding, distributor sell-through, NEXUS adoption, margin progression, and overall revenue conversion progress through 2026.
Stay tuned for more information and join our mailing list to stay up to date with the latest: Join Worksport's Newsletter
Connect with Worksport Chief Executive Officer, Steven Rossi
Steven Rossi X (Twitter)
Steven Rossi LinkedIn
About Worksport
Worksport Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions. Worksport's hard-folding cover, designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers including the electric vehicle (EV) sector. Worksport seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations with its proprietary solar solutions, mobile energy storage systems (ESS), and Cold-Climate Heat Pump (CCHP) technology. Terravis Energy's website is terravisenergy.com.
Connect with Worksport
Please follow the Company's social media accounts on X (previously Twitter), Facebook,
LinkedIn, YouTube, and Instagram, the links of which are links to external third-party websites, as well as sign up for the Company's newsletters at investors.worksport.com.
Social Media Disclaimer
The Company does not endorse, ensure the accuracy of, or accept any responsibility for any content on these third-party websites other than content published by the Company. Investors and others should note that the Company announces material financial information to our investors using our investor relations website, press releases, Securities and Exchange Commission ("SEC") filings, and public conference calls and webcasts. The Company also uses social media to announce Company news and other information. The Company encourages investors, the media, and others to review the information the Company publishes on social media. The Company does not selectively disclose material non-public information on social media. If there is any significant financial information, the Company will release it broadly to the public through a press release or SEC filing prior to publishing it on social media.
Forward-Looking Statements
The information contained herein may contain "forward‐looking statements." Forward‐looking statements reflect the current view about future events. When used in this press release, the words "anticipate," "believe," "estimate," "scheduled," "expect," "future," "intend," "plan," "project," "envisioned," "should," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. These statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial situation may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) supply chain delays; (ii) acceptance of our products by consumers; (iii) delays in or nonacceptance by third parties to sell our products; (iv) competition from other producers of similar products; and (v) with respect to any potential additional financing transactions, there can be no assurance that any such transactions will be consummated, and any such transactions would be subject to, among other things, market conditions, available shelf registration capacity, applicable regulatory requirements (including Nasdaq listing rules), negotiation and execution of definitive documentation on mutually acceptable terms, and approval by the Company's Board of Directors. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC, including, without limitation, our latest Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's web site at www.sec.gov. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. The forward-looking statements made in this press release are made only as of the date of this press release, and the Company undertakes no obligation to update them to reflect subsequent events or circumstances.
