| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 5.23 | 58.0% | 27.6% |
| Total Income | 5.23 | 58.0% | 27.6% |
| Expenditure | 9.05 | 0.1% | 17.2% |
| PBT | — | ||
| Net Profit | -3.97 | 31.9% | 6.4% |
| OPM | -73.02% | 15.11pp | |
| NPM | -75.82% | 15.15pp | |
| EPS | -0.33 | 38.9% | 53.5% |
Worksport Ltd. Reports Preliminary Q2 2026 Results with 132% Gross Profit Growth
29 Jul 2026 · 29 Jul, 2:32 am
Summary
Worksport Ltd. reported preliminary and unaudited financial results for April through June 2026, highlighting a substantial increase in gross profit of approximately 132% and net sales growth of approximately 46%. The company achieved a gross margin running rate above 35%, significantly improving from 26% in Q1 2026. June 2026 was noted as the strongest month in the company's history. Management expressed confidence that this trend of higher sales, improving gross margins, and gross profit growing faster than revenue will lead to operational cash-flow positivity and profitability in the near-term.
Key Highlights
- 1
Worksport Ltd. announced preliminary, unaudited financial results for April through June 2026, showing a significant improvement in revenue quality.
- 2
Net sales increased approximately 46% from April to June 2026, reaching approximately $2.08 million in June.
- 3
Gross profit increased approximately 132% from April to June 2026, with June's gross profit at approximately $720,000.
- 4
The Company achieved a sustainable gross-margin running rate above 35%, a substantial increase from 26% in Q1 2026.
- 5
June 2026 marked the strongest month in the Company's history in terms of net sales and gross profit.
- 6
Management believes continued progress in underlying economics will steer the Company toward operational cash-flow positivity and profitability in the near-term.
Management Comments
Steven Rossi
These preliminary results demonstrate that Worksport’s growth is becoming increasingly productive. From April to June, net sales increased approximately 46%, while gross profit increased approximately 132%. The business generated more sales, but more importantly, it generated substantially more gross profit from that growing revenue base. Our gross margin has improved by almost 1000 BPS from Q1 2026, even as monthly sales continued to expand. This is the type of operating progression we have been working toward: stronger sales, improving margins and gross profit growth that materially outpaces the top line. We believe the growth will only continue Our focus remains on sustaining this momentum, continuing to scale our automotive business and converting our expanding gross-profit base into continued progress toward operational cash-flow positivity.
Informational and educational content only. Not investment advice.