Worksport (NASDAQ: WKSP) Posts Record $2.5M July Orders; Seven-Month Consecutive Sales Climb Continues; $30M ARR

Rhea-AI Summary

Worksport (NASDAQ: WKSP) reported preliminary, unaudited July 2026 figures, highlighting gross product orders of approximately $2.52 million, a new monthly record. Preliminary net sales were about $2.22 million, up 6.7% from June and 60.6% from March, with roughly $0.30 million of firm orders in backlog at month-end. Based on July performance, the company’s stated Annualized Revenue Rate is $30 million.

Worksport said monthly net sales increased in every successive month of 2026 through July, averaging around 12.9% month-over-month growth for five months and rising from roughly $1.38 million in March to $2.22 million in July. Preliminary July gross profit was about $0.68 million, with a gross margin of 30.8%, marking a third consecutive month above the 30% level.

Positive

• Record July product orders of approximately $2.52 million
• Preliminary July net sales of approximately $2.22 million, +6.7% vs. June and +60.6% vs. March
• Annualized Revenue Rate of $30 million based on July performance
• Month-end backlog of approximately $0.30 million in firm product orders
• Preliminary July gross profit of approximately $0.68 million
• Preliminary gross margin of 30.8%, third consecutive month above 30%

Negative

• None.

News Explained

The reported $2.52 million of July product orders is an operating measure for orders completed, not GAAP net sales; the $0.30 million backlog is firm but unfulfilled and enters net sales only after fulfillment and applicable revenue-recognition requirements.

Market Reaction – WKSP

+0.10% $0.49 164.1x vol

15m delay

+0.10% Vs previous close

+2.1% Peak in 8 min

$0.49 Last Price

$0.48 $0.63 Day Range

$7.50M Market Cap

164.1x Rel. Volume

Following this news, WKSP has gained 0.10%, reflecting a mild positive market reaction. Argus tracked a peak move of +2.1% during the session. Our momentum scanner has triggered 7 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $0.49. Trading volume is exceptionally heavy at 164.1x the average, suggesting very strong buying interest.

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Market Context

Form 4 activity identified CEO Steven Rossi as a buyer of 79,618 shares. This adds insider-buying co...

Analysis

Form 4 activity identified CEO Steven Rossi as a buyer of 79,618 shares. This adds insider-buying context to July’s operating update, while the active S-3 resale registration and the company’s preliminary, unaudited status remain factors to monitor.

Key Figures

July product orders: $2.52 million Preliminary net sales: $2.22 million Month-over-month sales growth: 6.7% +5 more

8 metrics

July product orders $2.52 million July 2026; new monthly record

Preliminary net sales $2.22 million July 2026

Month-over-month sales growth 6.7% July 2026 versus June

Sales growth from March 60.6% July 2026 versus March

Month-end backlog $0.30 million Firm product orders not yet fulfilled at July month-end

Annualized Revenue Rate $30M Based on July 2026 performance

Preliminary gross profit $0.68 million July 2026

Preliminary gross margin 30.8% July 2026; third consecutive month above 30.0%

Historical Context

5 past events · Latest: Aug 11 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Aug 11	Q2 operating results	Positive	-4.9%	Record Q2 sales and lower cash use were followed by a negative price reaction.
Jul 29	Earnings-call scheduling	Neutral	-1.1%	Earnings-call scheduling and positive management commentary were followed by a negative price reaction.
Jul 22	Monthly sales update	Positive	-6.4%	June sales and gross-profit growth were followed by a negative price reaction.
Jun 25	Bid compliance update	Positive	-6.3%	Nasdaq compliance regained after a 75% rise, yet price reaction was negative.
Jun 22	May margin partnership	Positive	+13.6%	May margin improvement and Meyer partnership coincided with a positive price reaction.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Worksport historically diverged from four of five recent positive or neutral operating announcements, with only the June 22 update aligned with the subsequent price reaction.

Key Terms

annualized revenue rate, revenue-recognition requirements, generally accepted accounting principles, unaudited

4 terms

annualized revenue rate financial

"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.

revenue-recognition requirements financial

"will be reflected in net sales only after the applicable revenue-recognition requirements"

Rules that tell companies when and how to record sales and other income in their financial statements, often set by accounting standards such as GAAP or IFRS. These requirements determine whether a company recognizes revenue now or later — like rules for when to count money as earned versus just received — and matter to investors because they affect reported earnings, growth trends, and comparisons between companies.

generally accepted accounting principles financial

"It is not equivalent to net sales recognized under U.S. generally accepted accounting principles."

Generally accepted accounting principles (GAAP) are a standardized set of rules and practices companies use to record and report their financial results, like a common recipe so dishes from different cooks can be fairly compared. Investors rely on GAAP because it makes company earnings, assets and liabilities consistent and transparent across businesses, helping them compare performance, spot risks, and make informed decisions about buying or selling stock.

unaudited financial

"The July results contained in this release are preliminary and unaudited"

"Unaudited" describes financial statements or reports that have not been examined or verified by an independent accountant or auditor. Because they haven't undergone this review, they may not be as reliable or accurate as audited reports, making them less certain for investors to rely on when assessing a company's financial health. Think of it as a preliminary estimate that could change once checked by an expert.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Monthly net sales increased in every successive month of 2026 through July, averaging approximately 12.9% month-over-month growth for 5 months, while preliminary gross margin remained above 30% for a third consecutive month.

July product orders reached approximately $2.52 million**, while preliminary net sales from fulfilled orders reached $2.22 million and approximately $0.30 million remained in backlog;

WEST SENECA, NY / ACCESS Newswire / August 26, 2026 / Worksport Ltd. (NASDAQ:WKSP) ("Worksport" or the "Company"), a U.S.-based innovator and manufacturer of hybrid and clean energy solutions primarily for the light truck, overlanding, and global consumer goods market, today announced preliminary and unaudited July 2026 results. Gross product orders reached approximately $2.52 million, representing a new Company monthly record. Preliminary net sales reached approximately $2.22 million, up 6.7% from June and 60.6% from March, while approximately $0.3 million of firm product orders remained in backlog status at month-end. This places the Company's Annualized Revenue Rate at $30M which the Company anticipates will continue rising.

Preliminary July 2026 Highlights

• Record product orders: Approximately $2.52 million

• Preliminary net sales: Approximately $2.22 million, up 6.7% from June

• Month-end backlog: Approximately $0.30 million

• Preliminary gross profit: Approximately $0.68 million

• Preliminary gross margin: 30.8%, marking a third consecutive month above 30.0%

Monthly Net Sales Rise Without Interruption

Monthly net sales progressed from approximately $1.38M in March to $2.22M in July, with several consecutive month over month increases.

Gross Profit Shows Stability at Elevated Levels

July gross margin remained above 30% for the third consecutive month. The Company believes this trend reflects a materially stronger gross-profit base compared with the beginning of 2026, supported by continued growth in monthly sales volumes.

"July's performance shows that the growth platform we have built is producing more consistent commercial momentum," said Steven Rossi, Founder and Chief Executive Officer of Worksport. "A record order month is important, but our larger objective is to build a repeatable business that turns growing demand into stronger gross profit and better cash performance. We are focused on fulfilling orders efficiently, converting inventory and protecting the margin progress achieved this year. That discipline is how we intend to create durable growth and long-term shareholder value."

Preliminary Results and Order Definition

The July results contained in this release are preliminary and unaudited and remain subject to the completion of the Company's external financial reporting close and review process.

**Reference to product orders is an operating metric representing the aggregate value of product orders completed during July. It is not equivalent to net sales recognized under U.S. generally accepted accounting principles. Backlog represents firm orders not yet fulfilled and will be reflected in net sales only after the applicable revenue-recognition requirements are satisfied.

Stay tuned for more information and join our mailing list to stay up to date with the latest: Join Worksport's Newsletter

Contacts

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

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.

SOURCE: Worksport Ltd.

View the original press release on ACCESS Newswire

FAQ

What were Worksport’s preliminary July 2026 sales results for NASDAQ: WKSP?

Worksport reported preliminary July 2026 net sales of about $2.22 million. According to Worksport, this was up 6.7% from June and 60.6% from March, with gross product orders reaching a record approximately $2.52 million and about $0.30 million remaining in backlog.

How did Worksport’s monthly net sales trend through July 2026 (WKSP)?

Worksport stated that monthly net sales increased every month of 2026 through July. According to Worksport, net sales rose from roughly $1.38 million in March to $2.22 million in July, averaging around 12.9% month-over-month growth over five months.

What is Worksport’s $30 million Annualized Revenue Rate and how is it calculated?

Worksport cited an Annualized Revenue Rate of about $30 million based on July performance. According to Worksport, this ARR is inferred from July’s preliminary net sales of approximately $2.22 million, and the company anticipates this rate will continue rising, though results remain preliminary.

What gross margin did Worksport report for July 2026 and why is it important for WKSP investors?

Worksport reported a preliminary July 2026 gross margin of 30.8%. According to Worksport, this marked the third consecutive month above 30%, supported by higher monthly sales volumes, and suggests a stronger gross-profit base compared with the beginning of 2026 for the business.

How large was Worksport’s July 2026 order backlog and what does it represent?

Worksport reported a July 2026 month-end backlog of about $0.30 million in firm product orders. According to Worksport, backlog reflects orders not yet fulfilled and will only be recognized as net sales when applicable revenue-recognition requirements are satisfied under U.S. accounting rules.

Are Worksport’s July 2026 WKSP financial figures final or audited?

Worksport’s July 2026 figures are preliminary and unaudited. According to Worksport, these results are still subject to completion of its external financial reporting close and review process, so reported net sales, orders, gross profit, and margin may change before final financial statements are issued.