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.
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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'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
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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.
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
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Steven Rossi X (Twitter)
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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'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.
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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.
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)
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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'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.
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.
Conference call expected to provide additional details on the Company's path to cash-flow positivity and key operational milestones. WEST SENECA, NY / ACCESS Newswire / March 11, 2026 / Worksport Ltd.
New Model Presented to North America's leading automotive aftermarket distributor targets major expansion of U.S. dealer network and early revenue pipeline.
WEST SENECA, NY / ACCESS Newswire / March 19, 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 the development of a new, highly anticipated tonneau cover model. The Company presented the unreleased cover in advance this past Saturday at the Keystone BIG Show, successfully securing early buyer interest and initiating pre-orders ahead of its official near-term launch with multiple buyers referring to the new model as "a game changer" in the market.
"We brought something special to Keystone," said Steven Rossi, Chief Executive Officer of Worksport. "We believe this may become the best and leading tonneau cover in the market for professionals. It is being designed with installer demand, dealer economics, and large-scale distribution in mind. We are executing on all fronts to bring this to our growing dealer network and look forward to accumulating initial sales orders immediately ahead of the official launch expected early Q2."
Strategic Debut at the Keystone BIG Show
Rather than a traditional press announcement, Worksport chose to debut this new model directly to the buyers who drive industry volume. Keystone Automotive Operations is widely recognized as the leading distributor and marketer of aftermarket automotive equipment and accessories in North America. With a legacy spanning decade, Keystone operates eight massive, dedicated distribution centers and a transport fleet that serves thousands of auto enthusiasts, dealerships, and professional installers across the USA and Canada, offering national product distribution to thousands of automotive speciality stores. Showcasing at the Keystone BIG Show places Worksport's new product directly in front of a captive audience of high-volume purchasing decision-makers.
The New Cover: Built for the Professional Market
The newly developed cover is engineered to complement Worksport's rapidly growing lineup, which includes the AL3, AL4, and HD3 models. While official product specifications, naming, and media assets will be released closer to the commercial launch, the new model is purpose-built to meet the rigorous demands of the professional and commercial truck market.
Pre-Orders and Near-Term Launch
Following the overwhelmingly positive reception at the BIG Show, Worksport is currently developing its pre-order pipeline to accumulate initial sales ahead of the official launch. The cover is expected to enter production and become commercially available in the near term.
This product expansion represents a key pillar in Worksport's 2026 growth strategy to aggressively expand its U.S. Dealer Network. It also builds upon the Company's recent execution milestones, including the successful market launch of its proprietary COR™ Portable Energy System and SOLIS™ Solar Tonneau Cover.
Investors, analysts, and members of the media are invited to register in advance for Worksport's live earnings webcast. During the call, participants will gain insights into the Company's operational progress, product development roadmap, updated financial outlook, and strategy for advancing toward cash-flow positive operations.
Date: Thursday, March 26, 2026
Time: 4:30 PM ET
Format: Live webcast with management discussion and Q&A
Register Here: Conference Call Registration
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.
Company Update Revenue Increases 90% YoY; Company Highlights Margin Expansion and Commercialization Milestones
WEST SENECA, NY / ACCESS Newswire / March 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 markets, today announced financial results for the full year ended December 31, 2025, as filed in its Annual Report on Form 10-K.
Fiscal 2025 Highlights
Record Net Sales: Net sales for fiscal 2025 reached $16.1 million, an 89.8% increase compared to $8.5 million in fiscal 2024.
Significant Margin Expansion: Full-year gross margin improved to 28%, up from 11% in fiscal 2024.
Strong Q4 Performance: Derived fourth-quarter gross margins reached approximately 30%, reflecting increased manufacturing efficiency and capacity utilization at the Company's New York facility.
Dealer Network Growth: The partnered dealer network expanded sixfold in 2025, now exceeding 550 locations across the U.S. and Canada.
Online Sales Growth: Online sales grew 142% to $11.9 million, representing 74% of total revenue
Business-to-Business Growth: Distributor and jobber sales increased to $4.2 million, up from $0.4 million in 2024
Commercial Product Launches: Successfully launched the SOLIS solar-integrated cover and COR portable energy storage system in December 2025.
Quality Certification: Achieved ISO 9001 certification in April 2025, a critical prerequisite for pursuing Tier-1 OEM relationships with major automotive manufacturers.
Management noted that 2025 marked a transition year, with multiple product lines moving from development into early-stage commercialization.
2026 Financial Guidance and Strategic Outlook
Following a year of foundational investment, Worksport is providing the following guidance for fiscal 2026:
Revenue Guidance: The Company expects full-year 2026 revenue to be between $35 million and $42 million.
Gross Margin Target: Management has set a stable target of 35% gross margin for fiscal 2026.
Network Expansion: Management targets aggressive dealer network growth to 1,500 locations by the end of 2026. This dealer expansion is expected to be a leading revenue driver.
Path to Profitability: Worksport expects to reach initial operational cash-flow positivity within the second half of 2026.
"Game Changer" Product Launch: A next-generation hard tonneau cover featuring patented capabilities is expected to launch in early Q2 2026.
Balance Sheet and Liquidity
As of December 31, 2025, Worksport reported:
$5.95 million in cash
$3.4 million available under its revolving credit facility
Total liquidity of approximately $9.3 million
The Company indicated that its capital deployment in 2025 was directed toward scaling production capacity and advancing commercialization efforts.
Management Commentary
"2025 was a transformative year where we successfully bridged the gap from product conceptualization to large-scale market delivery," said Steven Rossi, Worksport Founder & CEO. "We nearly doubled our top-line growth while dramatically improving our margin profile. With our New York facility now capable of producing over 125 units per 8-hour shift and our R&D hub in Missouri de-risking our clean-energy product launches, we believe the heavy lifting of building the platform is complete. Our focus in 2026 is squarely on execution, throughput, and achieving sustained profitability".
Steven added: "Our infrastructure is now built for scale. We ended 2025 with a total liquidity position of over $9.3 million, providing us the runway needed to reach our goal of initial operational cash-flow positivity in the second half of 2026".
Conference Call & Materials
Investors, analysts, and media are invited to register in advance for the live webcast, today, March 26, 2026, at 4:30pm ET.
Live Link: [Worksport FY 2025 Earnings Call Link]
The earnings call transcript, deck, and audio reply from the conference call will be available on the Worksport website https://investors.worksport.com/#reports after the call.
Stay tuned for more information and join our mailing list to stay up to date with the latest: Join Worksport's Newsletter
Worksport FY 2025 Report: Balance Sheet & Income Statement
Below is a summary excerpt from the Financial Statements section of 'Worksport 10-K, March 26, 2026' covering the fiscal year ending December 31, 2025. Investors are encouraged to review the complete 10-K filing and the accompanying Prepared Remarks, both linked above, for full context and analysis.
Worksport Ltd.
Consolidated Balance Sheets
December 31, 2025 and 2024
2025
2024
ASSETS
Current assets
Cash and cash equivalents
$
5,945,894
$
4,883,099
Accounts receivable, net
503,971
42,589
Other receivable
278,027
169,728
Inventories, net (Note 3)
9,530,671
5,190,054
Prepaid expenses and deposits (Note 6)
530,861
192,192
Total Current assets
16,789,424
10,477,662
Investment (Note 11)
67,033
66,308
Property and equipment, net (Note 4)
12,688,488
13,644,226
Operating lease right-of-use assets (Note 11)
272,598
595,415
Intangible assets, net (Note 5)
896,531
953,049
Total assets
$
30,714,074
$
25,736,660
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Accounts payable
$
3,107,085
$
1,526,630
Accrued liabilities and other
1,400,730
800,283
Accrued compensation
420,210
377,112
Long-term debt, current portion (Note 12)
1,686,809
222,992
Lease liability, current portion (Note 11)
113,012
246,535
Total current liabilities
6,727,846
3,173,552
Lease liability, excluding current portion (Note 11)
159,526
368,472
Long-term debt, excluding current portion (Note 12)
950,481
4,781,005
Total liabilities
7,837,853
8,323,029
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 427,812 Series C (for 2025) issued and outstanding, respectively (Note 7)
428
-
Series A, B and Series C Preferred Stock, $0.001 par value, 10,000,000 shares authorized, 100 Series A, 0 Series B, and 427,812 Series C (for 2025) issued and outstanding, respectively (Note 7)
428
-
Common stock, $0.001 par value, 45,000,000 shares authorized, 9,814,665 and 4,016,205 shares issued and outstanding, respectively (Note 7)
9,814
4,016
Additional paid-in capital
101,357,686
79,781,674
Share subscriptions receivable
(55,684
)
(1,577
)
Share subscriptions payable
5,446,347
2,115,064
Accumulated deficit
(83,873,790
)
(64,476,966
)
Cumulative translation adjustment
(8,580
)
(8,580
)
Total shareholders' equity
22,876,221
17,413,631
Total liabilities and shareholders' equity
$
30,714,074
$
25,736,660
The accompanying notes form an integral part of these condensed consolidated financial statements. Please click here to download the full 10-K.
Worksport Ltd.
Consolidated Statements of Operations and Comprehensive Loss
December 31, 2025 and 2024
2025
2024
Net sales
$
16,101,738
$
8,484,379
Cost of sales
11,626,831
7,578,729
Gross profit
4,474,907
905,650
Operating expenses
Research and development
1,538,923
2,289,940
General and administrative
14,806,326
11,709,925
Sales and marketing
6,947,671
2,386,504
Gain on foreign exchange
(4,587
)
(14,885
)
Total operating expenses
23,288,333
16,371,484
Loss from operations
(18,813,426
)
(15,465,834
)
Other income (expense)
Interest expense
(592,755
)
(726,095
)
Other
53,884
28,140
Total other income (expense)
(538,871
)
(697,955
)
Net loss
(19,352,297
)
(16,163,789
)
Loss per share (basic and diluted) (Note 13)
$
(3.16
)
$
(5.84
)
Weighted average number of shares (basic and diluted)
6,143,122
2,768,732
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:
FY 2025- Earnings Call Prepared Remarks - Download Here
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 Ltd. (NASDAQ: WKSP - Get Free Report) was the recipient of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 550,591 shares, a growth of 43.6% from the February 26th total of 383,438 shares. Approximately 6.1% of the company's stock are short sold. Based
Final safety and compliance approvals complete; certification package supports broader sales across retail, fleet, distributor, and commercial channels
WEST SENECA, NY / ACCESS Newswire / April 2, 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, overlanding, and consumer goods markets, today announced that its COR Portable Energy System is now fully certified for the North American market, following receipt of all remaining required safety and regulatory approvals.
Certification Milestone
This milestone completes COR's multi-stage testing and validation process, including key safety certifications achieved in late March such as UL 2743, UL 1741, UL 1977, UL 1778, UL 2054, and CSA 62133-2, and marks an important step in the product's commercial readiness.
As a result, COR now holds all certifications and compliance approvals required to support broader commercialization across North American retail and commercial channels. Management believes the completed certification package strengthens Worksport's ability to expand sales through major retailers, distributors, fleets, and other business-to-business relationships.
Product Overview:
The COR modular portable energy system is built around the COR HUB and a swappable battery architecture. The system is designed for mobile power, emergency backup, worksite use, and outdoor recreation. When paired with the Company's SOLIS ™ Solar Tonneau Cover, COR becomes part of Worksport's broader clean-energy ecosystem, enabling users to generate, store, and use power through an integrated mobile platform.
Certification Scope:
COR's completed certification and compliance package now includes key transportation, product safety, electronic compliance, and regulatory requirements for North American commercialization. These include previously completed milestones such as UN38.3, MSDS, DGM965, FCC sDoC, ISED sDoC, CA Prop. 65, and TSCA, together with the remaining final approvals now complete to complete the product's commercial readiness.
"Completing COR's certification process is an important execution milestone for Worksport," said Steven Rossi, Chief Executive Officer of Worksport. "Achieving key safety certifications , including UL and CSA standards, helps remove a critical barrier to broader market access and supports our ability to scale across retail and commercial channels . With COR and SOLIS now shipping, we believe Worksport is better positioned to advance its clean-energy growth strategy with a product platform built for practical, everyday use."
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.
Founder & CEO Acquires 88,214 Shares at $0.8502, Citing Belief in Operational Progress, Margin Expansion and Path to Cash-Flow Positivity
WEST SENECA, NY / ACCESS Newswire / April 14, 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, overlanding, and consumer goods markets, today announced that its Founder and Chief Executive Officer, Steven Rossi, acquired 88,214 shares of the Company's common stock at a deemed purchase price of $0.8502, the closing price of the Company's common stock on Friday, April 10, 2026, in satisfaction of previously accrued cash compensation, representing an aggregate value of $75,000.The issuance of such shares was made pursuant to a stock purchase agreement, dated April 13, 2026.
This transaction underscores management's confidence in Worksport's fundamental value, bolstered by a year of record revenue growth, significant margin expansion, and a clear path toward operational cash-flow positivity in the second half of 2026.
The CEO's acquisition of additional shares follows a year of significant operational progress and continued investment into Worksport's asset base, including:
Net Sales Growth: From ~$1.5 million (2023) to $8.5 million (2024), and $16.1 million (2025), with a forecast of $35 to $42 million in 2026
Manufacturing & Asset Value: A U.S.-based production facility in New York, appraised at approximately $9 million in 2024, alongside continued investment in production equipment and infrastructure supporting scaled output
Strategic Inventory Positioning: As of December 31, 2025, the Company held approximately $9.5 million in inventory to support anticipated demand and minimize supply chain volatility
Intellectual Property (IP) Portfolio: A growing global footprint consisting of approximately 25 utility patents, 50 design patents and registrations, and 44 registered trademarks and 97 pending IP applications.
Gross Margin Expansion: From ~11% in Q4 2024 to approximately ~30% in Q4 2025
Dealer Network Expansion: From under 100 to over 550 locations across North America
Product Commercialization: Launch of SOLIS, COR, AL4, and HD3 in 2025, with an additional next-generation product expected in Q2 2026
The Company has indicated that, at approximately $9-11 million in quarterly revenue at targeted margin levels, it expects to reach operational cash-flow positivity, a milestone it is actively pursuing in fiscal 2026
CEO Commentary
"The decision to increase my personal stake in Worksport by nearly 1% of the total outstanding stock reflects my unwavering belief in our team's execution and the intrinsic value of our assets," said Steven Rossi.
"Over the past two years, we have transformed the business - scaling revenue, expanding margins, building a national dealer network, and bringing multiple products to market. While the share price has recently experienced pressure, I believe it does not fully reflect the underlying progress we have made or the momentum we are building. Worksport management maintains its position that the company's market valuation is undervalued.
He continued: "We have invested meaningfully to establish the foundation of this company. With that foundation now largely in place, our focus is on execution - driving revenue growth, expanding distribution, and progressing toward operational cash-flow positivity. I remain highly confident in our strategy and the long-term opportunity ahead."
Upcoming Catalysts and Innovation Pipeline
Worksport enters fiscal 2026 with multiple growth drivers in motion:
Core Tonneau Cover Business: A now matured product lineup (including AL4 and HD3) positioned to scale across both direct-to-consumer and B2B channels.
"Game Changer" Product: The Company expects to debut a next-generation hard cover in early Q2 2026, featuring patented capabilities designed to capture significant market share.
Distribution Expansion: Targeting significant dealer growth and broader national distribution partnerships
New large-scale distribution partnerships are expected within 2026.
SOLIS & COR Commercialization: Recently launched solar-integrated tonneau cover and portable energy storage system, with initial revenue contribution expected to build through 2026
Business-to-Business marketing and sales partnerships are being developed and deployed within 2026.
OEM & Strategic Partnerships: Ongoing engagement with automotive manufacturers and commercial partners
Following factory ISO certification in 2025, new partnerships are being focused on with OEMs in 2026.
Terravis Energy (AetherLux): Innovative cold-climate heat pump with industry-leading performance, representing a longer-term clean energy opportunity
Commercial certification is expected within 2026.
Management has emphasized that fiscal 2026 represents a transition from investment and buildout to monetization and operating leverage, supported by improving margins and a scalable manufacturing base.
Long-Term Focus, Near-Term Milestones
Worksport continues to target:
$35-$42 million in revenue for fiscal 2026
~35% gross margin profile
Operational cash-flow positivity within the year
The CEO's acquisition is aligned with these objectives and reflects a continued focus on disciplined execution, capital efficiency, and long-term shareholder value creation.
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.
Company to engage directly with overlanding consumers and industry participants as part of continued commercial rollout of recently launched power and tonneau solutions
WEST SENECA, NY / ACCESS Newswire / April 16, 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, overlanding, and consumer goods markets, is pleased to announce its participation in the upcoming Midwest Overlanding and Off-Road Expo (MOORE), taking place April 17-18, 2026 in Springfield, Missouri.
Located at Booths 37, 38, and 39, Worksport will provide live demonstrations of its newly launched portable power products and broad line of tonneau covers to a rapidly growing audience of off-road enthusiasts and industry partners.
Strategic Market Engagement
The MOORE Expo has seen consistent year-over-year growth, surpassing 7,500 attendees in 2025. By securing a prominent triple-booth presence, Worksport aims to capitalize on this high-intent demographic to drive direct-to-consumer, and business to business (B2B) sales.
"The MOORE Expo represents a prime opportunity to put our technology directly into the hands of users it was designed for," said Steven Rossi, CEO of Worksport. "While we are showcasing our flagship COR & SOLIS products, we are also using this platform to demonstrate the full breadth of our product catalog. Our goal is to convert the high foot traffic into immediate brand traction and measurable sales activity."
Product Showcased: The Power of Integration
Worksport will be presenting a comprehensive look at its mobile power and utility ecosystem:
SOLIS Solar Tonneau Cover: A first-of-its-kind, patented solar-integrated truck bed cover.
COR Battery System: A portable, modular power station designed for off-grid resilience.
Vehicle Mounting System (VMS): Secure integration of the COR system and additional battery modules within the truck bed.
The Game Changer Cover: Expanding beyond green energy, Worksport will also display another premium tonneau cover for its innovative product portfolio. Previously presented at the Keystone BIG Show, this cover has unique patent pending features and is set to officially release later this month.
Attendance and Booth Details
Members of Worksport's management, will be on-site to lead demonstrations and engage with investors, retail customers, and potential B2B partners.
The Company's attendance at the MOORE Expo is part of its ongoing 2026 strategy to scale the market presence of the SOLIS and COR systems following their recent successful launches.
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.
Proprietary single-side operation addresses key customer pain points; ~strong pre-order demand and early distributor demand support 2026 revenue guidance
WEST SENECA, NY / ACCESS Newswire / April 20, 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, is pleased to announce the official commercial launch and commencement of sales for its highly anticipated Nexus Tonneau Cover, a premium tonneau cover, with innovative features previously unseen in the market.
Following a successful production start on April 13, 2026, the Nexus cover is now available for purchase on the Company's B2C website and through its B2B distribution network. Early demand from established distributors with multi-million-dollar annual purchasing capacity-supports management's expectation that the Nexus platform can contribute millions in incremental revenue in 2026, while accelerating adoption across existing and new sales channels.
The Nexus cover introduces a newly engineered operating system designed to materially improve ease-of-use, safety, and speed for truck owners. Unlike conventional folding tonneau covers that typically require users to walk around both sides of the vehicle to secure latches, the Nexus features a proprietary system that enables full operation from a single side of the truck while maintaining full-bed access. This design reduces repetitive movement, simplifies use in adverse conditions, and enhances safety in environments such as job sites, roadside settings, and busy parking areas.
Strong Market Validation and Financial Impact
Prior to the official launch, Worksport received approximately $250,000 in pre-orders interest for the Nexus cover. These initial orders are expressed from large-scale distributors with the capacity for multi-million-dollar annual purchase volumes, representing strong early validation of the product's value proposition and a meaningful signal of distributor confidence within the $4B Tonneau Cover market.
Management notes that this level of initial pre-orders reflects early channel alignment and expected demand scalability. The Nexus launch is a key pillar in Worksport's strategy to achieve its previously announced full-year revenue guidance of $35 million to $42 million.
Engineering Excellence: The ‘Uplatch' Advantage
Designed by Worksport's Missouri-based engineering team, the Nexus cover represents an evolution in traditional folding tonneau designs, addressing longstanding usability challenges identified through customer feedback and field experience.
Traditional full-access folding covers have remained largely unchanged for decades, often requiring multiple trips around the vehicle and greater physical effort to lift and secure stacked panels. The Nexus addresses these limitations through its proprietary "Uplatch" system, which enables the cover to automatically secure on both sides when positioned upright behind the cab, all while being operated from a single side of the truck.
Internal customer feedback and market observations indicated that multi-step operation, panel weight, and accessibility were among the most common friction points with existing folding tonneau covers. The Nexus platform was engineered to address these challenges within a single integrated design, enabling faster, easier, and more controlled operation.
Key Technical Specifications:
Full Bed Access: Optimized for maximum utility and cargo space.
'Light Weight': Through the unique design, the cover is easier to lift
Materials: Constructed from heavy-duty 16-gauge aluminum substrate.
Durability: Finished with a specialized "Diamond Shield Finish" protective coating
Ease of Use: Features a middle-panel pull strap for simplified operation for any truck
Pricing: MSRP ranging from $1,249 to $1,349, depending on vehicle application.
Multimedia Video
Investors and customers are encouraged to view the Nexus Features and Benefits video to see the Uplatch system in action:
Nexus - Features and Benefit Video
[https://www.youtube.com/watch?v=JCSySjMDDls]
Management Commentary
Steven Rossi, Chief Executive Officer of Worksport, commented:
"The Nexus represents a meaningful step forward in tonneau cover design," said Steven Rossi, Chief Executive Officer of Worksport. "For years, users have had to work around the limitations of traditional folding covers - walking around the vehicle multiple times, lifting heavier panels, and reaching into the bed to secure them. Nexus simplifies that entire experience into a premium, faster, safer and single-sided operation. The early response from our distribution partners reinforces our view that practical innovation - focused on real user challenges - drives adoption."
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.
Partnership advances Worksport's 2026 U.S. distribution expansion strategy, accelerating velocity and building recurring revenue from high-volume accounts.
WEST SENECA, NY / ACCESS Newswire / April 29, 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 it has secured Tri-State Enterprises, Inc. ("Tri-State") as a new cross-regional distribution partner for Worksport's growing tonneau cover lineup, including the Company's recently launched Nexus cover.
Last week, the Company received two initial purchase orders with a broad spectrum of SKUs and quantity, with another order anticipated in the coming days tied to near-term sales activity. This early traction reflects immediate demand following onboarding and signals strong momentum as Worksport expands its U.S. distribution footprint.
Projected Account Growth
Worksport projects the new Tri-State account to generate seven-figure revenue in the near term, with the potential to evolve into a recurring multi-million-dollar contributor to net sales growth. This outlook is supported by expanding product availability, increasing customer adoption, and deeper penetration of Worksport's premium tonneau cover lineup across Tri-State's distribution footprint.
Tri-State is a family-operated automotive aftermarket distributor headquartered in Fort Smith, Arkansas, with locations across Arkansas, Missouri, Oklahoma, and Texas. The company operates approximately one million square feet of warehouse space and is a member of both the Pronto Network and The AAM Group. Tri-State maintains a strong service advantage across its regions, offering "same-day" delivery to select locations within its network of thousands of wholesale customers - a key capability that may position Worksport to access just-in-time demand across key markets. Truck bed covers are among Tri-State's top product categories, making this relationship a highly aligned and strategic addition to Worksport's expanding dealer and distributor network.
Big Money Show Accelerates Nexus Exposure
On April 25, 2026, Worksport attended Tri-State's Big Money Show to introduce its product lineup directly to a broader customer base, with particular focus on Worksport's Nexus tonneau cover, following its recent commercial launch. Nexus is designed to address a key market gap in premium hard folding tonneau covers by offering a proprietary single-side opening system, allowing users to operate the cover from either side of the truck. This cover continues to gain significant traction and was a contributing factor to landing the Tri-State account.
The Company believes this direct selling event provided both near-term revenue opportunity and meaningful brand exposure among active aftermarket buyers. Worksport views the event as an important step in accelerating Nexus adoption through distribution and professional aftermarket channels.
Strategic Distribution Expansion
This new relationship supports Worksport's broader 2026 strategy to expand its U.S. dealer and distributor network, increase sell-through velocity, and build recurring revenue from high-volume regional accounts.
The Company believes Tri-State's established customer relationships, warehouse capacity, and strong presence in the South and Central U.S. create a scalable distribution channel for Worksport's tonneau cover portfolio. As Worksport continues ramping production and widening availability of its recently launched products, management expects distributor-led sales to play an increasingly important role in achieving its 2026 revenue objectives.
"We believe that a relationship with Tri-State is an important commercial win because it places Worksport products into a highly relevant, high-volume aftermarket distribution channel," said Steven Rossi, Chief Executive Officer of Worksport. "The initial purchase orders are encouraging, but the larger opportunity is the account's projected annual volume and the ability to introduce Nexus to a broader customer base at the exact time we are scaling production and distribution. We believe relationships like this can help convert product innovation into repeatable revenue, stronger brand recognition, and long-term shareholder value."
Worksport expects to continue expanding its distributor base throughout 2026 as it advances commercialization of Nexus, its broader tonneau cover lineup, and its clean energy product ecosystem.
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)
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 CEO Steven Rossi will share the Company's growth story with institutional investors in New York City as Worksport continues expanding commercial execution, product availability, and investor visibility. Existing shareholders may also request meetings with Worksport management on May 6 and May 7.
WEST SENECA, NY / ACCESS Newswire / May 4, 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 Chief Executive Officer Steven Rossi has been invited to attend the D. Boral Capital 2026 Global Conference on May 7, 2026, in Manhattan, New York City.
The conference is expected to provide Worksport with direct access to institutional investors, capital markets professionals, and emerging-growth company stakeholders. Mr. Rossi will present Worksport's growth story, including the Company's expanding U.S. manufacturing footprint, growing tonneau cover portfolio, recently launched clean energy products, and strategy to scale toward its previously issued 2026 revenue guidance.
Investor Meeting Availability
Worksport's CEO and Investor Relations team will be available for meetings with existing shareholders on May 6 and May 7 in Manhattan, New York City.
Retail investors interested in requesting a meeting may contact: [email protected]
Institutional investors interested in meeting with Worksport at the conference may contact: [email protected]
Institutional Visibility at a Key Growth Stage
Worksport's participation comes as the Company continues executing across multiple commercial priorities, including broader distribution for its tonneau cover lineup, continued rollout of its SOLIS™ solar tonneau cover and COR™ portable energy system, and deeper engagement with investors as the Company works toward higher revenue scale and cash-flow objectives.
Management believes the D. Boral conference offers an opportunity to communicate Worksport's progress directly to new institutional audiences and strengthen relationships with the capital markets community.
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.
New CFO brings public-company reporting, manufacturing finance, technical accounting, governance, and cash-flow planning experience in-house as Worksport scales toward its 2026 growth targets.
WEST SENECA, NY / ACCESS Newswire / May 6, 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 Board of Directors has appointed Jennifer Kartychak, CPA, as Chief Financial Officer, effective May 1, 2026.
Kartychak will also serve as Worksport's Principal Financial Officer and Principal Accounting Officer. Her appointment brings a seasoned finance leader with direct Worksport experience into the CFO role as the Company continues scaling production, expanding distribution, and advancing its previously stated objective of achieving initial operational cash-flow positivity.
Why This Appointment Matters
Kartychak has worked with Worksport since August 2023 through Arend Advisory Group, LLC, an entity wholly owned by her, before joining the Company full-time as Vice President of Finance on January 1, 2026. This internal promotion places the CFO role with a seasoned and vetted finance executive who already understands Worksport's manufacturing operations, reporting requirements, cost structure, revenue ramp, and long-term financial objectives.
As Vice President of Finance for the last 4 months, Kartychak has already been instrumental in supporting a more process-led budgeting approach, strengthening financial reporting cadence, and helping develop the Company's planning around cash-flow positivity. Worksport believes her appointment supports the Company's transition toward a deeper in-house finance function built for scale, accountability, and faster decision-making.
Big Four, Public Company, and Manufacturing Finance Experience
Kartychak brings over 25 years of accounting experience, including approximately five years with Ernst & Young LLP, where she advanced to Manager in the firm's Assurance Services practice. Her background includes manufacturing, public-company reporting, technical accounting, governance practices, internal reporting, acquisitions and divestitures, and executive-level finance support.
Kartychak's experience also includes approximately six years as Corporate Accounting Manager at Moog Inc., a publicly traded manufacturing company. During her tenure, she assumed increasing levels of responsibility and gained extensive experience with SEC reporting requirements, governance practices, operational reporting and complex accounting matters.
Kartychak holds Bachelor of Science degrees in Accounting and Accounting Information Systems from Canisius University. She is a Certified Public Accountant licensed in the State of New York and a member of the American Institute of Certified Public Accountants.
Shareholder-Aligned Financial Execution
Kartychak's disclosed incentive structure includes performance-based objectives tied to finance milestones that matter to shareholders, including timely SEC reporting, monthly consolidated reporting, internal control framework development, SG&A savings and gross margin improvement opportunities, and progress toward cash-flow breakeven. A portion of her equity incentive is also tied to Board approval of a three-year financial roadmap and achievement of cash-flow breakeven, aligning her compensation with Worksport's execution priorities.
"Jennifer has earned this role through technical strength, judgment, and a deep understanding of where Worksport is headed," said Steven Rossi, Founder and Chief Executive Officer of Worksport. "As we scale revenue, expand distribution, and pursue operational cash-flow positivity, we need deep finance leadership - a partner who can help translate manufacturing activity, margin discipline, working capital, and SG&A decisions into a clear operating plan. Jennifer brings that capability, and she already knows our business from the inside."
Rossi continued, "I also want to sincerely thank Mike Johnston for his long-standing service to Worksport. Mike has been part of the Company through important stages of its initial development, and we appreciate his professionalism, loyalty, and contributions. We wish him the very best in his next chapter."
Worksport also announced that Mr. Michael Johnston resigned as Chief Financial Officer, Principal Financial Officer, and Principal Accounting Officer effective April 30, 2026. As disclosed in the Company's Current Report on Form 8-K, Mr. Johnston's resignation was not the result of any disagreement with the Company regarding its operations, policies, practices, financial reporting, or accounting practices.
"I am honored to step into the CFO role at such an important point in Worksport's evolution," said Jennifer Kartychak. "The Company has built a strong platform across U.S. manufacturing, product innovation, and distribution. My focus is to help convert that platform into disciplined financial execution, stronger internal processes, and a clear path toward sustainable growth and cash-flow performance."
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 will host its Q1 2026 earnings conference call on May 13, 2026, at 4:30 p.m. ET, followed immediately by the Company's inaugural investor townhall with CEO commentary, business updates, and shareholder Q&A.
WEST SENECA, NY / ACCESS Newswire / May 7, 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 it will host its first quarter 2026 earnings conference call on Wednesday, May 13, 2026, at 4:30 p.m. Eastern Time.
Immediately following the earnings call, Worksport will hold its inaugural investor townhall, introducing a new, recurring communication platform designed to provide shareholders with more direct access to the Company's leadership team.
Webcast Registration
Investors, analysts, media, and other interested parties are invited to register in advance for the live webcast. During the earnings call, Worksport management will discuss the Company's Q1 2026 results and provide commentary on recent business developments.
Full URL: https://us06web.zoom.us/webinar/register/6417779145998/WN_xGJ3UtTtRl2z1yi2MC7D0w
Earnings Call and Townhall Details
Date: May 13, 2026
Time: 4:30 p.m. ET
Format: Live webcast with management discussion and Q&A
Townhall: Begins immediately following the earnings conference call
The earnings call transcript, presentation materials, and audio replay are expected to be available on the Worksport investor relations website after the call.
Introducing Worksport's Investor Townhall Series
The May 13 event will mark the first of a planned periodic townhall series, where Worksport intends to maintain an ongoing, open line of communication with its shareholders, supporters, and broader investor community.
These sessions are designed to go beyond traditional earnings commentary, offering:
Commentary on recent announcements and operational progress
CEO-led discussion on strategic direction and priorities
Real-time updates on product development and commercialization
An open forum for investor questions and dialogue
All shareholders, supporters, and interested participants are invited to attend. The Company welcomes all interested participants and encourages attendees to share the registration link with others who wish to learn more about Worksport's business and strategy.
Investors are encouraged to submit questions in advance by emailing [email protected], with management addressing selected questions during the live townhall, subject to time and disclosure considerations.
Steven Rossi, Chairman and Chief Executive Officer of Worksport, commented: "Worksport is building a business that we believe deserves a more direct and open line of communication with its shareholders. Our earnings call will cover the financial results, but the townhall gives us the opportunity to go deeper, explain the thinking behind recent developments, and speak more directly about where we are focused next. We want shareholders to better understand not only what we are doing, but why we believe these steps matter for long-term value creation."
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.
Q1 net sales reached $3.3 million with gross margin of 26%; Company enters Q2 with SOLIS and COR shipping, COR certified, NEXUS launched, Tri-State distribution added, and operational cash-flow targeted within 2026.
WEST SENECA, NY / ACCESS Newswire / May 13, 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 first quarter ended March 31, 2026, with net sales increasing 47.9% year-over-year to $3.3 million and gross profit increasing 115.5% year-over-year to $854,000 as the Company advanced from product launch readiness into broader commercialization.
Q1 2026 was an investment and launch-readiness quarter for Worksport. During the period, the Company expanded product availability, funded inventory for recently launched products, strengthened sales channels, and prepared its newest product platforms for commercialization. Management believes these actions position Worksport for stronger sales conversion in Q2 2026 and the second half of the year.
Q1 2026 Financial Highlights
Net sales increased 47.9% to $3.31 million, compared to $2.24 million in Q1 2025.
Gross profit increased 115.5% to $853,946, compared to $396,221 in Q1 2025.
Gross margin improved to 26%, compared to 18% in Q1 2025, an 800 basis point year-over-year improvement.
U.S. net sales represented approximately 99% of total Q1 revenue.
Hard tonneau covers generated approximately 99% of total Q1 net sales.
B2C sales were approximately $1.8 million on approximately 1,700 covers.
B2B sales were approximately $1.5 million on approximately 2,300 covers.
Inventory increased to $11.6 million, reflecting product readiness for SOLIS, COR, NEXUS, and ongoing tonneau cover demand scale-up.
Net property and equipment stood at $13.3 million, anchored by the Company's West Seneca, New York manufacturing facility.
Worksport's full 10-Q 2026 is accessible here: https://www.nasdaq.com/market-activity/stocks/wksp/sec-filings
Worksport's management will host a conference call and live webcast at 4:30 PM ET to discuss the Company's financial performance, operational progress, and outlook. During the call, management is expected to provide additional details on the Company's roadmap toward achieving cash-flow positive operations, along with commentary on key strategic initiatives and product developments. Participants in the webcast will have the chance to do live Q&A with the Worksport Management team.
Webcast Registration
Investors, analysts, and members of the media are invited to register in advance for the live webcast. During the call, Worksport's leadership will provide insights into the Company's recent financial results, updated outlook, and strategic initiatives supporting its continued growth.
Q1 operating cash use was elevated as Worksport funded inventory, supported product launches, reduced prior-period obligations, and invested in marketing campaigns tied to SOLIS, COR, NEXUS, and the broader brand. Management views this as a working-capital investment intended to support product availability and sales-channel activation for the remainder of 2026. As of March 31, 2026, Worksport had $11.6 million in inventory, approximately $6.6 million in working capital.
Management's near-term priority is to convert inventory into revenue, improve channel-level gross margin, optimize marketing return on investment, and reduce operating cash consumption as launch-related spending normalizes.
2026 Outlook
The Company expects fiscal 2026 growth to be driven primarily by its tonneau cover business, expanded B2B and B2C sales channels, the newly launched NEXUS cover, and early contribution from SOLIS and COR. Worksport's recent distribution partnership with Tri-State is expected to be the first of more distributors joining Worksport's network as a result of Worksport's growing consumer awareness.
The Company also plans to provide annual financial guidance early each calendar year rather than updating guidance quarterly, allowing management to focus on long-term execution, durable revenue growth, cash-flow discipline, and shareholder value creation.
Terravis Energy and AetherLux Update
Worksport's clean energy subsidiary, Terravis Energy, continued advancing its AetherLux™ ZeroFrost heat pump platform during Q1 2026. Management has stated that a large government entity is monitoring upcoming laboratory performance results as part of an internal evaluation process, while certification work is progressing with AHRI, ENERGY STAR, and other North American certification milestones targeted within 2026.
The Company is not currently projecting AetherLux revenue in 2026. Management views AetherLux as a strategic upside platform separate from the core 2026 revenue drivers, which are expected to come from tonneau covers and early SOLIS/COR commercialization.
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 Ltd. (WKSP - Free Report) came out with a quarterly loss of $0.54 per share versus the Zacks Consensus Estimate of a loss of $0.51. This compares to a loss of $1.05 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -5.88%. A quarter ago, it was expected that this company would post a loss of $0.55 per share when it actually produced a loss of $0.72, delivering a surprise of -30.91%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
Worksport, which belongs to the Zacks Automotive - Retail and Whole Sales industry, posted revenues of $3.31 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 22.24%. This compares to year-ago revenues of $2.24 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Worksport shares have lost about 54.5% since the beginning of the year versus the S&P 500's gain of 8.1%.
What's Next for Worksport?While Worksport has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Worksport was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.29 on $8.01 million in revenues for the coming quarter and -$1.15 on $34.03 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Automotive - Retail and Whole Sales is currently in the bottom 21% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Titan Machinery (TITN - Free Report) , another stock in the same industry, has yet to report results for the quarter ended April 2026.
This agriculture and construction equipment seller is expected to post quarterly loss of $0.61 per share in its upcoming report, which represents a year-over-year change of -5.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Titan Machinery's revenues are expected to be $493.22 million, down 17% from the year-ago quarter.
Newly issued U.S. Patent No. 12,624,872 strengthens Worksport's clean-energy intellectual property around ZeroFrost™, the proprietary AetherLux™ heat-pump architecture designed to address one of the largest barriers to cold-climate heat-pump adoption: frost buildup and defrost-cycle performance loss.
WEST SENECA, NY / ACCESS Newswire / May 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 markets today announced that its clean-energy subsidiary, Terravis Energy, has been issued U.S. Patent No. 12,624,872 B2 by the United States Patent and Trademark Office for its AetherLux™ heat-pump system incorporating ZeroFrost™ technology.
The patent, titled "Heat Pump System and Components Thereof," protects core and ancillary system architecture features related to the Terravis Energy's ZeroFrost platform, including proprietary configurations designed to support continuous heating performance while reducing or eliminating the need for conventional defrost cycles. Further patent applications are pending in various jurisdictions worldwide.
Worksport expects certification for this technology within second half of 2026. The technology has attracted interest from several Fortune 500 companies, hundreds of dealers, and the Department of Energy's NLR Alaska Lab.
Why This Matters
Heat pumps are becoming a mainstream global solution for efficient residential and commercial heating and cooling. Grand View Research reports that heat pumps will more than double in market size to $200B by 2033, with adoption especially strong in colder countries such as Norway, Sweden, and Finland. However, a key misconception is that cold-climate heat pumps are only for extreme markets like Alaska, while the data supports that they are increasingly relevant across large heating markets in the northern U.S., Canada, Europe, and China.
One of the remaining barriers is frost. When frost builds on outdoor coils, conventional heat pumps often must interrupt heating, reverse operation, or rely on backup heat to clear ice. Worksport believes its patented ZeroFrost™ architecture directly targets this issue by supporting more dependable heating performance in all-weather conditions.
The timing is also aligned with broader market momentum. In New York, NYSERDA identifies heat pumps as a smarter, more efficient option for heating and cooling buildings, and the state has banned natural gas lines in new constructions, leaving heat-pumps as the go-to option.
Worksport believes ZeroFrost directly targets this industry limitation. The AetherLux Pro system is being developed to deliver dependable heating in harsh climates by addressing frost formation at the system level, rather than treating defrost as an unavoidable operating interruption.
Patent Coverage and Strategic Protection
The newly issued patent is expected to strengthen Worksport's defensible position around AetherLux and ZeroFrost as the Company advances third-party validation, certification work, strategic partner discussions, and future commercialization planning. The patent generally covers an antifreeze coil proximate to a refrigerant coil at the outdoor heat exchanger for reducing temperature of the refrigerant coil, thus reducing or preventing the formation of frost on the coil, which in turn avoids the requirement for a defrost cycle or supplemental heating source.
Worksport continues to view AetherLux (owned by its Subsidiary Company, Terravis Energy) as a strategic upside platform separate from Worksport's current core revenue drivers, which remain tonneau covers, expanded B2B and B2C distribution, NEXUS, SOLIS, and COR. However, the Company believes this patent and multiple related pending patent applications materially strengthen the long-term value of the AetherLux platform by protecting technology that could support future product sales, strategic partnerships, private-label opportunities, and potential licensing pathways.
Management Commentary
"Securing this patent is an important milestone for Terravis Energy and the AetherLux product line," said Lorenzo Rossi, Chief Executive Officer of Terravis Energy. "ZeroFrost was developed to address one of the most persistent challenges in the heat-pump market: maintaining efficient, reliable heating performance in cold-weather conditions where frost and defrost cycles can disrupt conventional systems. We believe this technology can make advanced heat-pump systems more practical, more dependable, and more attractive across large cold-climate markets."
Mr. Rossi continued, "For Terravis Energy, this patent protects more than a product feature. It protects core system architecture behind AetherLux, giving us a stronger foundation for future commercialization, strategic partnerships, and potential licensing opportunities. While Terravis Energy remains separate from Worksport's core 2026 revenue plan, we believe it represents one of the most compelling long-term clean-energy opportunities within the overall Worksport portfolio."
Expanding Terravis Energy's IP Position, Benefiting Worksport Shareholders
The issuance of this patent strengthens Terravis Energy's intellectual property position around AetherLux, its clean heating and cooling product line. Terravis Energy owns and develops the AetherLux platform, while Worksport Ltd. (NASDAQ: WKSP), as the parent company, expects to benefit from the long-term value created by Terravis Energy's protected technology.
This distinction is important. Worksport's manufacturing and automotive-accessory operations remain focused on scaling tonneau covers, SOLIS solar covers, and COR portable energy systems. Terravis Energy is advancing AetherLux as a separate clean-energy platform with potential future value through commercialization, strategic partnerships, and licensing opportunities.
Management believes this structure allows Worksport to continue executing on its core revenue plan while preserving meaningful upside for WKSP shareholders through Terravis Energy's growing patent-protected technology portfolio. Worksport previously announced significant growth in its global patent portfolio, including both issued patents and pending applications, as part of its broader strategy to protect innovation, strengthen competitive positioning, and support long-term shareholder value.
Read More on Aetherlux
February 11, 2025: Terravis Energy Unveils Revolutionary "No-Defrost" Heat Pump Technology
October 6, 2025: Terravis Energy Selected for Competitive NREL NTAP Award to Analyze ZeroFrost Technology in Alaska
January 27, 2026: Terravis Energy Secures Mass Manufacturing for Aetherlux Heat Pump
February 12, 2026: Worksport Confirms Government Evaluation of Aetherlux for Potential Long-Term Deployment
The Company expects to share additional news on AetherLux withing the second half of 2026, including certification status update, final product specs, and sales pipeline.
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
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Founder & CEO continues to acquire equity, reflecting his confidence in the Company's progress toward achieving operational cash-flow positivity and his belief that the Company's current market valuation, trading significantly below book-value. does not fully reflect its underlying business, or growth potential.
WEST SENECA, NY / ACCESS Newswire / June 9, 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 Founder and Chief Executive Officer, Steven Rossi, has elected to receive 79,618 shares of the Company's common stock in lieu of receiving $50,000 in cash compensation otherwise payable to him.
The shares were issued to Rossi pursuant to a Stock Purchase Agreement dated June 5, 2026, between Mr. Rossi and the Company at a purchase price of $0.6280 per share, representing the closing price of the Company's common stock on the Nasdaq Capital Market on June 5, 2026.
This marks the second time Mr. Rossi has elected to receive Company shares in satisfaction of accrued, earned compensation. As previously announced, in April 2026, Mr. Rossi elected to receive 88,214 shares of common stock in lieu of $75,000 in accrued cash compensation.
Mr. Rossi's continued decision to acquire equity in lieu of cash compensation reflects his confidence in the Company's long-term strategy and his belief that the Company's current market valuation does not fully reflect its asset base, growth trajectory, expanding sales channels, intellectual property portfolio, and progress toward achieving operational cash-flow positivity.
Over the past several years, Worksport has grown annual revenue from approximately $1.5 million in 2023 to $8.5 million in 2024 and $16.1 million in 2025, while simultaneously expanding gross margins, increasing dealer penetration, commercializing new products, and investing in infrastructure designed to support future growth.
Worksport continues to pursue its stated objective of achieving operational cash-flow positivity through growing sales, expanding distribution, improving manufacturing efficiencies, and advancing its recently launched clean-energy solutions SOLIS and COR.
Management also believes that the continued commercial rollout of the Company's Nexus Tonneau Cover, launched in April 2026, together with the Company's broader commercialization initiatives, will support its long-term growth objectives.
CEO Commentary
"I continue to believe that Worksport is trading materially below the value of the business we have built," said Steven Rossi, Founder and Chief Executive Officer.
"Over the last several years, we have transformed Worksport through substantial investments in manufacturing, inventory, product development, distribution, intellectual property, and brand equity. During that time, our revenue has continued to grow, our margins have continued to improve, and we have made significant progress toward achieving operational cash-flow positivity.
"While market conditions and sentiment can fluctuate, my conviction in the Company remains unwavering. My decision to receive shares instead of cash compensation reflects my strong belief that the market has not yet fully recognized the strength of our assets, the progress we have made, or the opportunities that lie ahead. I have tremendous confidence in our team and remain highly optimistic about our ability to execute our strategy and create long-term shareholder value."
Management remains focused on disciplined execution, operational efficiency, revenue growth, and strengthening the Company's position across both its core and emerging business segments.
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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.
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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.
