Worksport Reports Approximately $2.92 Million in August Orders
Worksport reported preliminary August sales orders of approximately $2.92 million, while its annualized sales-order run rate reached approximately $35.05 million.
Worksport Ltd. (Nasdaq:WKSP) reported preliminary August 2026 sales orders of approximately $2.92 million, up 16.4% from July. The company said the figure corresponds to an annualized sales-order run rate of approximately $35.05 million, while preliminary net sales reached $2.34 million.
Worksport said August sales orders increased from approximately $2.51 million in July to approximately $2.92 million. The company’s estimated month-end backlog rose from an updated July balance of approximately $366,000 to approximately $898,000, an increase of 145.1%.
The company attributed the backlog movement to orders exceeding invoicing during the month. August invoiced sales were approximately $2.39 million, compared with approximately $2.27 million in July. Worksport said August orders exceeded invoicing by approximately $532,000.
Worksport said estimated backlog is calculated from sales orders and invoicing using a first-in, first-out allocation assumption. It is not based on an order-by-order review of fulfilment dates, and its conversion into revenue depends on fulfilment and applicable revenue-recognition requirements.
Based on August sales orders, Worksport reported an annualized sales-order run rate of approximately $35.05 million, compared with approximately $30.13 million using the updated July order figure. The company said the increase was approximately $4.93 million, or 16.4%.
Preliminary monthly net sales increased from approximately $937,000 in January to $2.34 million in August. Worksport said each month from January through August exceeded the preceding month, with monthly growth averaging approximately 14.6% across 2026.
The company said August was the fourth consecutive month in which preliminary gross margin was above 30%.
Steven Rossi, Worksport’s founder and chief executive officer, said the approximately $35 million annualized sales-order run rate could help move the company toward positive operating cash flow. He said maintaining preliminary gross margin above 30% while increasing revenue could generate additional gross profit to cover operating expenses and narrow the gap to positive operating cash flow.
Rossi also said the company’s stated priority was to turn the higher order pace into shipments and cash while controlling spending. He said higher production volumes should help distribute fixed manufacturing costs across more units and support further margin improvement as Worksport scales.
Worksport described sales orders, invoiced sales, estimated backlog and annualized run rates as supplemental operating metrics rather than substitutes for recognised net sales. The annualized run-rate calculation multiplies the applicable month’s sales orders by twelve, assumes a constant monthly pace and is illustrative. The company said it does not represent annual recurring revenue, a committed 12-month order book, full-year revenue guidance or a forecast of future performance.
The monthly financial information is preliminary and unaudited, remains subject to accounting close and review procedures, and may differ from final reported results. Worksport also identified supply chain delays, consumer acceptance, delays or non-acceptance by third-party sellers, competition, order cancellations, fulfilment delays, production constraints and working-capital requirements as factors that could affect actual results.
Worksport designs, develops and manufactures tonneau covers, solar integrations, portable power systems and clean heating and cooling solutions. The company said its activities primarily address light trucks, overlanding and global consumer goods markets. It also reported an active partnership with Hyundai for the SOLIS Solar cover and said its in-house hard-folding cover is compatible with all major truck models.
Worksport announced preliminary August 2026 sales orders of approximately $2.92 million, up 16.4% from July 2026, alongside preliminary net sales of $2.34 million and an estimated month-end backlog of approximately $898,000. The company said the figures were preliminary and unaudited and remained subject to accounting close and review procedures.
Worksport reported an annualized sales-order run rate of approximately $35.05 million based on August sales orders. The company said this calculation multiplies the applicable month's sales orders by twelve, assumes a constant monthly pace and is illustrative; it is not annual recurring revenue, a committed 12-month order book, full-year revenue guidance or a forecast of future performance.
Worksport said August sales orders increased 16.4%, from approximately $2.51 million in July to approximately $2.92 million. The company said the annualized sales-order run rate increased from approximately $30.13 million using the updated July order figure to approximately $35.05 million using August orders.
Worksport reported preliminary August net sales of $2.34 million, an increase of 5.6%. Separately, the company said invoiced sales increased 5.6% from approximately $2.27 million in July to approximately $2.39 million in August.
Worksport said its estimated backlog rose from an updated July balance of approximately $366,000 to approximately $898,000, an increase of 145.1%. The company attributed the increase to August orders exceeding invoicing by approximately $532,000.
Worksport said preliminary monthly net sales increased from approximately $937,000 in January to $2.34 million in August, representing growth of approximately 150%. Each successive month exceeded the previous month across the January-to-August period, with monthly growth averaging approximately 14.6% across 2026.
Worksport said August order intake exceeded invoicing, with sales orders of approximately $2.92 million compared with invoiced sales of approximately $2.39 million. The company said this difference increased its estimated backlog, which is derived from sales orders and invoicing totals using a first-in, first-out allocation assumption rather than an order-level analysis of fulfilment dates.
Worksport said August marked the fourth consecutive month with preliminary gross margin above 30%. The company linked the margin commentary to higher sales generating additional gross profit alongside margin expansion, while noting that the monthly financial information was preliminary and unaudited.
Worksport designs, develops, manufactures and owns the intellectual property on tonneau covers, solar integrations, portable power systems, and clean heating and cooling solutions. The company describes its markets as primarily including light trucks, overlanding and global consumer goods, and said it has an active partnership with Hyundai for the SOLIS Solar cover.
Steven Rossi, Worksport's Founder and Chief Executive Officer, said the approximately $35 million annualized sales-order run rate represented an opportunity to move the company towards positive operating cash flow. He said that sustaining preliminary gross margin above 30% while growing revenue could generate more gross profit to cover operating expenses and narrow the gap to positive operating cash flow, but these are forward-looking statements rather than assurances of future performance.
Steven Rossi said Worksport's priority was to convert the higher order pace into shipments and cash while keeping spending disciplined. He also said higher production volumes should help spread fixed manufacturing costs across more units, supporting further margin improvement as the company scales; the release identified supply chain delays, order cancellations or fulfilment delays, production constraints and working-capital requirements among factors that could affect actual results.
The source identifies Worksport Ltd. as listed on Nasdaq under the ticker symbol WKSP, written in the release as “Nasdaq:WKSP” and “Nasdaq: WKSP”.
Worksport said sales orders, invoiced sales, estimated backlog and annualized run rates are supplemental operating metrics and are not substitutes for recognised net sales. It also said conversion of orders and estimated backlog to revenue depends on fulfilment and applicable revenue-recognition requirements, and that the preliminary monthly information may differ from final reported results.