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  4. [8-K] Worksport Ltd Reports Material Event

Record July sales push Worksport (NASDAQ: WKSP) to new revenue run rate

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.

Filing Explained

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.

Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Gross product orders $2.52 million Preliminary July 2026 monthly record
Preliminary net sales $2.22 million July 2026, up 6.7% from June and 60.6% from March
Month-end backlog $0.30 million Firm product orders remaining at end of July 2026
Preliminary gross profit $0.68 million July 2026
Preliminary gross margin 30.8% July 2026, third consecutive month above 30.0%
Annualized Revenue Rate $30 million Based on current performance disclosed for July 2026
Average month-over-month net sales growth 12.9% Average over five months in 2026 through July
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.
backlog financial
"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 margin financial
"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 unaudited financial
"announced preliminary and unaudited July 2026 results"
forward-looking statements regulatory
"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.

FAQ

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%.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

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.)

 

2500 N America Dr

West Seneca, New York 14224
(Address of principal executive offices) (ZIP Code)

 

(888) 554-8789

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).

 

Emerging growth company ☐

 

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).

 

 

 

 

SIGNATURES

 

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)

 

 

 

 

Exhibit 99.1

 

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 $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: View Original Filing on SEC EDGAR

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