Worksport Ltd. Reports Significant Revenue and Gross‑Profit Growth for April‑June 2026
West Seneca, NY – Worksport Ltd. (NASDAQ: WKSP), a Canadian manufacturer of truck tonneau covers and hybrid‑clean‑energy solutions, announced preliminary, unaudited financial results for the first three months of 2026. The company reported a 46 % increase in net sales from April to June, rising from approximately $1.43 million to $2.08 million.
In the same period, gross profit grew by 132 %, increasing from about $310,000 in April to roughly $720,000 in June. This surge in gross profit reflects a substantial expansion of gross margins, with the running rate now above 35 % compared to 26 % in Q1 2026.
Key Highlights
| Metric | April 2026 | May 2026 | June 2026 | April‑June Growth |
|---|---|---|---|---|
| Net Sales | $1.43 million | $1.73 million | $2.08 million | +46 % |
| Gross Profit | $310,000 | $630,000 | $720,000 | +132 % |
| Gross Margin Run Rate | 26 % | – | >35 % | – |
The company emphasized that the combination of higher sales and improving gross margins indicates progress toward operational cash‑flow positivity and future profitability.
“These preliminary results demonstrate that Worksport’s growth is becoming increasingly productive,” said CEO Steven Rossi. “From April to June, net sales increased approximately 46 %, while gross profit increased approximately 132 %.”
Market Context
Worksport’s shares closed at $0.6215 on 21 July 2026, within the 52‑week range of $0.569 to $4.30. The company’s market capitalization stands at approximately $10.15 million USD, and its price‑to‑earnings ratio is –0.26, reflecting negative earnings as the firm continues to invest in growth.
The reported financial performance aligns with Worksport’s strategic focus on expanding its product line for the light‑truck and overlanding markets, aiming to capture increasing demand for hybrid and clean‑energy solutions.
The information provided is based on the company’s preliminary monthly financial highlights and statements released on 22 July 2026.
