Business UpdateJun 22, 2026, 08:07 AM
Worksport Achieves 35% May Gross Margin, Targets $36M+ Revenue Run-Rate
AI Summary
Worksport Ltd. announced significant commercial and operational developments, including achieving a preliminary May gross margin of approximately 35%, a new record for the company. The company also secured Meyer Distributing as a national distribution partner and is now targeting a $36 million+ 12-month revenue opportunity. These developments, supported by increasing B2C activity and expanding B2B distribution, are expected to lead the company toward near-term operational cash-flow positivity within 2026.
Key Highlights
- Achieved preliminary May gross margin of approximately 35%.
- Gross margin increased 660 basis points from 28.4% in Q1 2026.
- Secured Meyer Distributing as a new national distribution partner.
- Targets a $36M+ 12-month revenue opportunity.
- Current B2C activity tracking at approximately $1M per month ($12M annualized).
- Potential B2B annualized revenue can expand toward $24M+.
- Aims for operational cash-flow positivity within 2026.
- Needs approximately $9M in quarterly revenue for cash-flow positivity at 35% gross margin.
Price Impact
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