Worksport (NASDAQ:WKSP) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Posted by on Aug 12th, 2026

Worksport (NASDAQ:WKSP – Get Free Report) released its quarterly earnings data on Tuesday. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.11, Zacks reports. The business had revenue of $5.23 million for the quarter, compared to analysts’ expectations of $4.50 million. Worksport had a negative return on equity of 103.67% and a negative net margin of 120.65%.

Here are the key takeaways from Worksport’s conference call:

  • Q2 revenue reached a company-record $5.2 million, up 27% year over year and 58% sequentially, while gross profit rose 93% sequentially to approximately $1.6 million and gross margin expanded to about 32%.
  • Operating leverage improved materially, with operating expenses falling 17% sequentially and operating cash use declining 58% to $3.4 million; management said it may achieve momentary operating cash-flow positivity in Q3 and remains focused on sustainable breakeven in 2026.
  • The newly launched NEXUS tonneau cover generated approximately $1 million in sales within 10 weeks, with July-related orders approaching $1.5 million; two distributors, including multinational Meyer Distributing, were added during the quarter.
  • Worksport plans to convert its $12.1 million inventory balance into working capital by selling finished goods and moving toward just-in-time production; management said July cover sales were about 30% above production, while promotions may be used to liquidate older AL3 and AL4 inventory.
  • Liquidity remains a significant risk: the company had only about $1.2 million in cash and $820,000 of revolver availability at June 30, and its 10-Q continues to disclose substantial doubt about its ability to continue as a going concern. Management is exploring financing alternatives but hopes to avoid raising additional funds for the remainder of 2026.

Worksport Price Performance

NASDAQ:WKSP opened at $0.71 on Wednesday. The company has a quick ratio of 0.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market cap of $10.88 million, a PE ratio of -0.26 and a beta of 0.22. Worksport has a 12 month low of $0.57 and a 12 month high of $4.30. The company’s 50-day moving average price is $0.76 and its two-hundred day moving average price is $1.07.

Insider Buying and Selling at Worksport

In other news, CEO Steven F. Rossi bought 79,618 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was bought at an average price of $0.63 per share, for a total transaction of $50,159.34. Following the completion of the purchase, the chief executive officer owned 2,693,703 shares of the company’s stock, valued at approximately $1,697,032.89. The trade was a 3.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.84% of the company’s stock.

Institutional Investors Weigh In On Worksport

A number of large investors have recently bought and sold shares of WKSP. State Street Corp acquired a new stake in Worksport during the 4th quarter valued at $34,000. XTX Topco Ltd bought a new stake in shares of Worksport during the fourth quarter worth $38,000. Centiva Capital LP bought a new stake in shares of Worksport during the third quarter worth $63,000. Geode Capital Management LLC increased its stake in shares of Worksport by 11.2% in the second quarter. Geode Capital Management LLC now owns 33,259 shares of the company’s stock valued at $94,000 after buying an additional 3,338 shares in the last quarter. Finally, LPL Financial LLC increased its stake in shares of Worksport by 225.2% in the fourth quarter. LPL Financial LLC now owns 54,067 shares of the company’s stock valued at $115,000 after buying an additional 37,440 shares in the last quarter. 16.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Worksport from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Worksport in a research note on Wednesday, July 8th. Finally, Maxim Group set a $2.00 price target on shares of Worksport and gave the stock a “buy” rating in a research report on Friday, May 15th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.75.

Check Out Our Latest Report on Worksport

About Worksport

(Get Free Report)

Worksport Ltd. is an Israeli-based designer, developer and global supplier of innovative automotive accessories, with a primary focus on pickup truck bed covers. The company’s core offerings include a range of hard and soft tonneau covers under brands such as ROLL, FLEXIT and SOLAR, engineered to provide truck owners with enhanced utility, security and weather protection. Worksport leverages advanced polymer materials and patented folding mechanisms to deliver lightweight, durable solutions that are easy to install and operate.

In recent years, Worksport has expanded its product portfolio to incorporate solar technology, introducing integrated solar tonneau covers capable of generating power for auxiliary truck systems or charging batteries for recreational and off-grid applications.

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Earnings History for Worksport (NASDAQ:WKSP)

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