Monitor upcoming Q3 2026 GAAP results for conversion of the growing backlog into recognized revenue and for cash flow trends. The company's ability to sustain gross margin above 30% while scaling production is key to the path toward positive operating cash flow.
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Executive Summary
Worksport announced preliminary August 2026 results showing sales orders of $2.92M (up 16.4% MoM), an annualized order run rate of $35.05M, and preliminary net sales of $2.34M (up 5.6% MoM). Estimated backlog surged 145.1% to ~$898K, and gross margin remained above 30% for the fourth consecutive month. The filing is a positive operational update but contains no GAAP financials or guidance, and the company remains pre-scale with sub-$3M monthly revenue.
Key Facts
- August 2026 sales orders of approximately $2.92 million, up 16.4% from July
- Annualized sales-order run rate reached $35.05 million
- Preliminary net sales of $2.34 million, up 5.6% month-over-month
- Estimated month-end backlog rose to approximately $898,000, a 145.1% increase
- Fourth consecutive month with preliminary gross margin above 30%
- Net sales grew from ~$937K in January to $2.34M in August, approximately 150% growth
- Monthly growth averaged approximately 14.6% across January-to-August 2026
Financial Impact
August orders of $2.92M represent a $35M annualized run rate; preliminary net sales of $2.34M; backlog of $898K
Risk Factors
- Preliminary and unaudited figures may differ from final reported results
- Order-to-revenue conversion depends on fulfillment and revenue recognition; backlog may not fully convert
- Annualized run rate assumes constant monthly pace and is not a committed 12-month order book
- Company remains pre-scale with monthly revenue under $3M; working capital constraints could limit production ramp
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-045870 |
| Exhibit: ex99-1.htm | 0001493152-26-045870 |
| Document: 0001493152-26-045870-index-headers.html | 0001493152-26-045870 |
| Document: 0001493152-26-045870-index.html | 0001493152-26-045870 |
| Document: 0001493152-26-045870.txt | 0001493152-26-045870 |
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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