Business UpdateJun 25, 2026, 08:07 AM
Worksport Regains Nasdaq $1 Bid Price, Announces CEO Town Hall
AI Summary
Worksport Ltd. announced it has regained compliance with Nasdaq's minimum $1 bid price requirement, with its stock closing above $1.00 on June 24, 2026, marking a 75% increase in five trading days. The company will host a CEO Town Hall on June 30, 2026, to discuss recent business developments and future strategy. Key growth drivers highlighted include a preliminary May 2026 gross margin of approximately 35%, a new distribution partnership with Meyer Distributing, and a projected $36 million-plus 12-month annual revenue run rate target. Additionally, the CEO received shares in lieu of cash compensation, reinforcing confidence in the company's long-term value.
Key Highlights
- Regained Nasdaq $1 bid price compliance; stock up 75% in 5 trading days.
- Preliminary May 2026 gross margin of ~35%, up from 28.4% in Q1 2026.
- Partnered with Meyer Distributing for national distribution expansion.
- Projecting $36M+ 12-month annual revenue run rate target.
- Current 2026 revenue run-rate growing at $21M+.
- Completed two direct investments, one priced at a premium.
- CEO Steven Rossi received shares instead of cash compensation for second time.
- Terravis Energy's ZeroFrost™ heat-pump expects certification in H2 2026.
Price Impact
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