WKSP · Worksport Ltd.

Worksport Ltd. delivered strong Q1 2026 results, with net sales surging 47.9% year-over-year to $3.31 million, driven by expanded product availability and strengthened sales channels in both B2C ($1.8 million on 1,700 tonneau covers) and B2B ($1.5 million on 2,300 covers). Hard tonneau covers accounted for 99% of revenue, nearly all from the U.S. Gross profit more than doubled to $853,946, expanding margins by 800 basis points to 26%, reflecting improved operational efficiency as the company transitioned from launch readiness to commercialization. Inventory buildup to $11.6 million positions Worksport for Q2 sales acceleration with SOLIS and COR now shipping, COR certified, NEXUS launched, and new Tri-State distribution added. Q1 cash use was elevated due to inventory funding, product launches, obligation reductions, and marketing, but management views this as a strategic investment for 2026 revenue conversion and cash-flow positivity. The 2026 outlook emphasizes tonneau cover growth, channel expansion, and early SOLIS/COR contributions, with annual guidance planned early each year to prioritize execution. Terravis Energy advanced AetherLux™ certifications but projects no 2026 revenue, remaining a long-term upside. A conference call at 4:30 PM ET on May 13 provided further roadmap details toward cash-flow breakeven.