Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary
Worksport Ltd (WKSP) reported preliminary, unaudited operating metrics for July 2026 showing strong top-line momentum and improved profitability. The company recorded a monthly record for gross product orders of approximately $2.52 million. Preliminary net sales were approximately $2.22 million, up 6.7% from June and 60.6% from March, with about $0.30 million of firm orders remaining in backlog at month-end. Preliminary gross profit was about $0.68 million, reflecting a gross margin of 30.8%, the third consecutive month above 30%. Based on these levels, Worksport states that its Annualized Revenue Rate is $30 million, which it anticipates will continue rising.
Positive
- Preliminary net sales rose to $2.22 million in July 2026, up 6.7% from June and 60.6% from March, indicating strong short-term revenue growth.
- Worksport reported record gross product orders of approximately $2.52 million in July 2026, signalling increased customer demand.
- Preliminary gross margin reached 30.8% in July 2026 and remained above 30% for a third consecutive month, suggesting improved profitability levels.
- The company cites an Annualized Revenue Rate of $30 million based on current performance, indicating a higher revenue run-rate than recent historical levels.
Negative
- None.
${decodeHTMLEntities(insight.a)}
`;
analysisDiv.insertAdjacentHTML(‘beforeend’, insightHTML);
});
}
fetchFilingAnalysis();
}
The August 25 Form 8-K reports preliminary, unaudited July operating metrics, not finalized GAAP results. Its $2.52 million
product-order figure measures orders completed, not recognized net sales; the $0.30 million
firm backlog can be reflected in net sales only after fulfillment and applicable revenue-recognition requirements are satisfied.
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Gross product orders$2.52 millionPreliminary July 2026 monthly record
Preliminary net sales$2.22 millionJuly 2026, up 6.7% from June and 60.6% from March
Month-end backlog$0.30 millionFirm product orders remaining at end of July 2026
Preliminary gross profit$0.68 millionJuly 2026
Preliminary gross margin30.8%July 2026, third consecutive month above 30.0%
Annualized Revenue Rate$30 millionBased on current performance disclosed for July 2026
Average month-over-month net sales growth12.9%Average over five months in 2026 through July
Annualized Revenue Ratefinancial
“This places the Company’s Annualized Revenue Rate at $30M”
A projected yearly revenue figure calculated by taking revenue from a short period (for example a month or a quarter) and scaling it up to a 12‑month pace. It is a quick way to express the current sales “speed” — like reading a speedometer — and helps investors compare growth momentum between companies or periods, though it is an estimate that assumes recent performance continues unchanged.
backlogfinancial
“approximately $0.3 million of firm product orders remained in backlog”
A backlog is the amount of work or orders that a company has received but hasn’t completed yet. It’s like a restaurant with many dishes to serve; the backlog shows how many orders are still waiting to be finished. It matters because a large backlog can indicate strong demand or potential delays in delivering products or services.
gross marginfinancial
“Preliminary gross margin: 30.8%, marking a third consecutive month”
Gross margin is the difference between how much money a company makes from selling its products and how much it costs to produce them, expressed as a percentage of sales. It shows how efficiently a company is turning sales into profit before other expenses like marketing or salaries. Higher gross margin means the company keeps more money from each sale, which is a good sign of financial health.
preliminary and unauditedfinancial
“announced preliminary and unaudited July 2026 results”
forward-looking statementsregulatory
“The information contained herein may contain “forward-looking statements.””
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company’s outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
What preliminary July 2026 net sales did Worksport (WKSP) report?
Worksport reported preliminary July 2026 net sales of approximately $2.22 million. This represents an increase of 6.7% compared with June and 60.6% compared with March, based on unaudited internal data disclosed by the company.
How large were Worksport (WKSP)’s July 2026 product orders and backlog?
Gross product orders in July 2026 were approximately $2.52 million, a new monthly record for Worksport. The company also reported a month-end backlog of about $0.30 million in firm product orders not yet fulfilled.
What gross profit and gross margin did Worksport (WKSP) achieve in July 2026?
Worksport reported preliminary gross profit of approximately $0.68 million for July 2026. This corresponds to a gross margin of 30.8%, which the company notes is the third consecutive month with gross margin above 30%.
What Annualized Revenue Rate did Worksport (WKSP) disclose?
Based on its July 2026 results, Worksport stated an Annualized Revenue Rate (ARR) of $30 million. The company also said it anticipates this rate will continue rising, characterizing the figure as derived from current performance levels.
Are Worksport (WKSP)’s July 2026 figures audited?
No. Worksport described its July 2026 financial metrics as preliminary and unaudited. They remain subject to completion of the company’s external financial reporting close and review process.
Did Worksport (WKSP) report continuous sales growth in 2026?
Yes. Worksport stated that monthly net sales increased in every successive month of 2026 through July, and that the average month-over-month growth rate for five months was approximately 12.9%.
AI-generated analysis. How Rhea-AI works. Not financial advice.
See more from StockTitan in Google Search and AI answers.Adds StockTitan as a preferredts →
Available on EDGAR 08/26/2026 – 01:01 PM
Accepted by SEC EDGAR 08/26/2026 – 01:00 PM
Learn about SEC filing dates
SECURITIES
AND EXCHANGE COMMISSION
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): August 25, 2026
WORKSPORT
LTD.
(Exact name of registrant as specified in its
charter)
| Nevada | 001-40681 | 35-2696895 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
West
Seneca, New York14224
(Address of principal executive offices) (ZIP Code)
Registrant’s
telephone number, including area code
Not
Applicable
(Former name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
| Title of each class |
Trading Symbols |
Name of each exchange on which registered |
||
| Common | WKSP | The Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b -2 of this chapter).
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
7.01 Regulation FD Disclosure.
On
August 25, 2026, Worksport Ltd. (the “Company”) issued a press release: “Worksport (NASDAQ: WKSP) Posts Record
$2.5M July Orders; Seven-Month Consecutive Sales Climb Continues; $30M ARR”
A
copy of the press release is attached hereto as Exhibit 99.1.
The
information under Item 7.01 of this Current Report on Form 8-K and the exhibit attached hereto shall not be deemed “filed”
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section,
or incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended, except as shall be
expressly set forth by specific reference in any such filing.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits.
| Exhibit No. |
Description | |
| 99.1 | Press Release dated August 25, 2026, Worksport (NASDAQ: WKSP) Posts Record $2.5M July Orders; Seven-Month Consecutive Sales Climb Continues; $30M ARR” |
|
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
| WORKSPORT LTD. |
||
| Date: August 25, 2026 |
By: | /s/ Steven Rossi |
| Name: | Steven Rossi |
|
| Title: | Chief Executive Officer |
|
| (Principal Executive Officer) |
Worksport
(NASDAQ: WKSP) Posts Record $2.5M July Orders; Seven-Month Consecutive Sales Climb Continues; $30M ARR
Monthly
net sales increased in every successive month of 2026 through July,averaging approximately 12.9% month-over-month growth
for 5 months, while preliminary gross margin remained above 30% for a third consecutive month.
July
product orders reached approximately $2.52 million**, while preliminary net sales from fulfilled orders reached $2.22 million and approximately
$0.30 million remained in backlog;
West
Seneca, New York, August 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
market, today announced preliminary and unaudited July 2026 results. Gross product orders reached approximately $2.52 million,
representing a new Company monthly record. Preliminary net sales reached approximately $2.22 million, up 6.7% from June and
60.6% from March, while approximately $0.3 million of firm product orders remained in backlog status at month-end. This
places the Company’s Annualized Revenue Rate at $30Mwhich the Company anticipates will continue rising.
Preliminary
July 2026 Highlights
| ● | Record product orders: Approximately $2.52 million |
|
| ● | Preliminary net sales: Approximately $2.22 million, up 6.7% from June |
|
| ● | Month-end backlog: Approximately $0.30 million |
|
| ● | Preliminary gross profit: Approximately $0.68 million |
|
| ● | Preliminary gross margin: 30.8%, marking a third consecutive month above 30.0% |
Monthly
Net Sales Rise Without Interruption
Monthly
net sales progressed from approximately $1.38M in March to $2.22M in July, with several consecutive month over month increases.
Gross
Profit Shows Stability at Elevated Levels
July
gross margin remained above 30% for the third consecutive month. The Company believes this trend reflects a materially stronger gross-profit
base compared with the beginning of 2026, supported by continued growth in monthly sales volumes.
“July’s
performance shows that the growth platform we have built is producing more consistent commercial momentum,” said Steven
Rossi, Founder and Chief Executive Officer of Worksport. “A record order month is important, but our larger objective is to
build a repeatable business that turns growing demand into stronger gross profit and better cash performance. We are focused on fulfilling
orders efficiently, converting inventory and protecting the margin progress achieved this year. That discipline is how we intend to create
durable growth and long-term shareholder value.”
Preliminary
Results and Order Definition
The
July results contained in this release are preliminary and unaudited and remain subject to the completion of the Company’s external
financial reporting close and review process.
**Reference
to product orders is an operating metric representing the aggregate value of product orders completed during July. It is not equivalent
to net sales recognized under U.S. generally accepted accounting principles. Backlog represents firm orders not yet fulfilled and will
be reflected in net sales only after the applicable revenue-recognition requirements are satisfied.
Stay
tuned for more information and join our mailing list to stay up to date with the latest: Join Worksport’s Newsletter
Investor
Relations, Worksport Ltd. T: 1 (888) 554-8789-128
W: investors.worksport.com
W: www.worksport.com E: investors@worksport.com
Connect
with Worksport Chief Executive Officer, Steven Rossi
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.
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.
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.
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.
