WKSP · Worksport Ltd.

Worksport Ltd. disclosed two significant developments for investors. First, the company issued 88,214 shares of common stock to CEO Steven Rossi on April 13, 2026, at a price of $0.8502 per share, representing the closing price on April 10, 2026, for an aggregate value of $75,000. This transaction satisfied previously accrued bonus compensation and was approved by the Board of Directors, with the CEO electing to receive equity instead of cash, which management states reflects confidence in the company's long-term strategy. Second, the company provided substantial operational updates through its press release, highlighting dramatic revenue growth from $1.5 million in 2023 to $16.1 million in 2025, with 2026 guidance of $35-42 million. Gross margin expansion from approximately 11% in Q4 2024 to approximately 30% in Q4 2025 demonstrates improving profitability, while the dealer network expanded from under 100 to over 550 locations across North America. Management emphasized a clear path to operational cash-flow positivity in the second half of 2026, targeting $9-11 million in quarterly revenue at margin levels that would achieve this milestone. The company also disclosed approximately $9.5 million in inventory as of December 31, 2025, to support anticipated demand and minimize supply chain volatility. CEO Steven Rossi commented that his increased stake reflects belief in the company's execution and intrinsic value, noting that while share price has experienced pressure, it does not fully reflect underlying progress. Worksport enters 2026 with multiple growth drivers including core tonneau cover business, distribution expansion, SOLIS & COR commercialization, OEM partnerships, and Terravis Energy's cold-climate heat pump technology.