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Worksport Q3 Revenue Rises 44% to Record $7.23M | WKSP

WKSP
  • Worksport Ltd. reported Q3 2026 net sales of $7.2 million, a 44.2% year-over-year increase & a 38.2% sequential rise from Q2 2026.
  • Net loss narrowed 27% to $3.6 million ($0.26 per share) from $4.9 million ($0.75 per share) in Q3 2025.
  • Operating expenses decreased 11.7% year-over-year to $5.6 million, representing 78% of net sales compared to 127% in Q3 2025.
  • This marks the second consecutive quarter with rising revenue, a shrinking net loss, & reduced operating cash use.
  • Since Q1 2026, net sales have increased 118%, net loss has decreased 39%, & operating cash use has dropped approximately 95%.
  • Nine-month net sales for 2026 reached $15.8 million, up 38.8% from the prior year period.
  • NEXUS product sales totaled $4.8 million, up 150% from Q2, while SOLIS sales quadrupled to $96,000.
  • Inventory levels fell 20.6% to $9.6 million as sales grew 38% during the quarter.
  • Cash & cash equivalents rose to $2.53 million following an August 2026 warrant inducement that raised capital & issued common shares.
  • The company signed a non-binding term sheet on November 4, 2026, to acquire a business selling a patented American-made truck-bed accessory.
  • Subsidiary Terravis Energy targets Q4 2026 certification for its AetherLux Heat Pump with first U.S. pilot installations planned for Q1 2027.
  • CEO Steven Rossi stated that sustaining operating cash flow breakeven is the primary financial priority to reduce dependence on equity financing.
  • A Q3 2026 earnings conference call & webcast were scheduled for November 10, 2026, at 4:30 p.m. ET with live analyst Q&A.
Company
Worksport Ltd.
Keywords
Automotive, Earnings