The combination of accelerating margin expansion, new B2B distribution with Meyer, and a clear path to operational cash-flow positivity within 2026 is a material positive signal. Monitor future quarterly filings for actual revenue conversion from the Meyer/Tri-State channels and margin verification — the $36M run-rate target is aspirational and depends on channel ramp execution.
Price Chart
Executive Summary
Worksport Ltd announced preliminary May 2026 gross margin of approximately 35% (up from 28.4% in Q1 2026), a new national distribution partnership with Meyer Distributing, and a $36M+ 12-month revenue run-rate target. The company also noted annualized revenue is currently tracking above $20 million and reiterated its goal of achieving operational cash-flow positivity within 2026.
Key Facts
- Preliminary May 2026 gross margin of approximately 35%, up from 28.4% in Q1 2026
- Meyer Distributing added as first multinational distribution partner with initial purchase order
- Targeting $36M+ 12-month revenue opportunity supported by B2C (~$12M annualized) and B2B (~$24M+ potential)
- Annualized revenue currently tracking above $20M
- Management estimates ~$9M quarterly revenue needed for operational cash-flow positivity at 35% gross margin
- Follows a recently completed premium-priced direct investment
Financial Impact
May gross margin improved to ~35% from 28.4% in Q1 2026; annualized revenue currently above $20M; targeting $36M+ 12-month revenue opportunity
Risk Factors
- Revenue and margin figures are preliminary, unaudited internal estimates
- $36M revenue target is a forward-looking opportunity dependent on distribution ramp and product adoption
- Company is not yet cash-flow positive; requires ~$9M quarterly revenue to achieve breakeven
- U.S. aluminum prices up ~50% in two years could pressure margins if they continue rising
- Micro-cap stock ($13M market cap) with high volatility and limited liquidity
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-029499 |
| Exhibit: ex99-1.htm | 0001493152-26-029499 |
| Document: 0001493152-26-029499-index-headers.html | 0001493152-26-029499 |
| Document: 0001493152-26-029499-index.html | 0001493152-26-029499 |
| Document: 0001493152-26-029499.txt | 0001493152-26-029499 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 14, 2026 13d ago | EFFECT | $0.3717 $0.3752 | ▼ −0.94% | ▼ −0.66% | $0.3240 (+12.83%) |
Oct 6, 2026 20d ago | 8-K | $0.3854 $0.3931 | ▲ +2.00% | ▲ +2.24% | $0.3240 (−15.93%) |
Aug 26, 2026 8w ago | 8-K | $0.5100 $0.6300 | ▲ +23.53% | ▲ +22.87% | $0.3240 (−36.47%) |
Aug 14, 2026 10w ago | 8-K | $0.6600 $0.6500 | ▲ +1.52% | ▲ +0.84% | $0.3240 (+50.91%) |
Aug 11, 2026 10w ago | 8-K | $0.6763 $0.6813 | ▲ +0.74% | ▲ +0.04% | $0.3240 (−52.09%) |
Jul 29, 2026 12w ago | 8-K | $0.5857 $0.6165 | ▲ +5.26% | ▲ +3.58% | $0.3240 (−44.68%) |
Jul 22, 2026 13w ago | 8-K | $0.6215 $0.6600 | ▲ +6.19% | ▲ +7.43% | $0.3240 (−47.87%) |
Jun 22, 2026 18w ago | 8-K | $0.8383 $0.8400 | ▲ +0.20% | ▲ +1.66% | $0.3240 (−61.35%) |
Jun 18, 2026 18w ago | 424B5 | $0.8383 $0.8400 | ▼ −0.20% | ▼ −1.66% | $0.3240 (+61.35%) |
Jun 9, 2026 19w ago | 8-K | $0.6366 $0.6326 | ▼ −0.63% | ▲ +0.95% | $0.3240 (−49.10%) |
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